Etruscan focuses on African development

Etruscan Resources, the Canadian mining exploration company, has plans to invest CAN$15 million in projects across five African countries.

The company, which has programmes in Burkina Faso, Mali, Côte d’Ivoire, Ghana and Namibia, has recently raised CAN$35.1 million through a public offering.

According to Gerald McConnell, Etruscan’s president and chief executive, “This $15 million programme is the largest allocation in the company’s history by three times and the likelihood of several new significant discoveries is excellent.”

In Burkina Faso, the focus will be on the three different gold belts: Youga, where an historic 200,000 ounce resource was reported by Ashanti Goldfields; Banfora, where it will undertake a pitting and auger drilling programme; and the Boromo Gold Belt where it is seeking to expand its land holding.

In Cote d’Ivoire, Etruscan will continue with feasibility and development work at its Agbaou project. The company is awaiting government approval of new permits in the country.

The focus in Ghana will be to ascertain the results of the sampling of historic trenches on the Bole-Bolgatanga Gold Belt, whilst also acquiring more advanced projects in the southwestern regions of the country.

Work in Namibia, which is the newest country in Etruscan’s portfolio, it will follow up research that has concluded that certain areas have a high potential for the discovery of iron oxide copper gold deposits.