- Shares in Etruscan Resources Inc. rose 9.6 per cent Thursday after the junior miner reported positive results from its joint venture Finkolo gold project in Mali.
Etruscan said results from 12 new drill holes included an intersection of 19 metres containing 13.2 grams per tonne gold, including six meters of 36.3 g/t gold.
Etruscan stock, which was halted briefly Thursday morning, gained 26 cents to $2.96 with 8,100 traded at midday on the TSX.
"While there are still a large number of samples pending, the potential to chase the high grade zones to depth is becoming more evident with this last round of drilling," chief operating office Don Burton said in a release.
"We anticipate completion of the new geological model by the end of this third quarter."
The Halifax-based company also said mine project manager Resolute Mining Ltd. - which currently holds a 50 per cent stake in the mine - reports it has met expenditure requirements to earn a 60 per cent interest in the joint venture.
Resolute's additional earn-in expenditures are currently being audited in accordance with the joint venture agreement, Etruscan said.
Under the agreement, Resolute must fund all costs until a feasibility study is produced.