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## Mali 

In Mali the Syama option was exercised and Resolute commenced the first-stage earning phase on Etruscan’s adjacent Finkolo JV tenure. 

## Etruscan Finkolo JV 

The Etruscan Resources Finkolo project abuts the Syama tenure to the south. This concession covers a further 25km strike continuation of the highly prospective Syama Shear and associated stratigraphy. 

Resolute elected to commence its earn in obligations on 1 April this year. 

Historical aeromagnetics and ground induced polarisation data acquired by BHP, Randgold and Etruscan is currently being re-evaluated over the whole belt. This data together with the newly released data from the Mali regional geophysical SYSMIN surveys will be used to re-evaluate the area. It will be used to assist planning for further geophysical surveying of the area both 

in the Finkolo JV area and within the Syama concession. 

Initial core drilling planned for October will twin previous high-grade intersections and attempt to confirm the orientation of the high-grade intercepts. Drilling by Etruscan in late 2003, to follow up a number of geophysical and geochemical targets, intersected several wide zones of mineralisation, in reverse circulation holes, in two areas. These were 38m @ 6.4g/t Au in the porphyry zone and 20m @ 17.1g/t Au from the Tabakoroni zone. The orientation of mineralisation is unknown. 

## Ghana 

In Ghana exploration activities have been focussed on the Akoase, Weststar and Blue River concessions and late in the period the newly granted New Obuase concession. The Ghana technical team supported activities in Burkina Faso where Goldbelt Inc, a junior Canadian company, has reached agreement to acquire Resolute’s interests. 

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