Vancouver, BC — May 10, 2011 — Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) is pleased to report that field preparations are well underway for its aggressive 2011 exploration programs in the White Gold District of the Yukon, anticipated to begin on or about June 1st, 2011. The White Gold District covers the historic Klondike goldfields where recent gold discoveries by Shawn Ryan for Underworld Resources Inc./Kinross Gold Corporation and Kaminak Gold Corporation have re-ignited exploration interest.
The Company is one of the leading land-holders in this exciting emergent gold district with in excess of 568 square kilometers under option from Shawn Ryan. The Company is focusing its exploration efforts in the White Gold District looking for epithermal-mesothermal gold and porphyry copper-molybdenum-gold systems; both styles of mineralization are historically documented by Shawn Ryan and others within the 568 square kilometer claim package.
To view the location of our claims please click here.
The Company’s Board of Directors have approved $6 million to initiate the 2011 exploration work on Ethos’ White Gold District properties. A comprehensive and systematic exploration field program is planned. The program is comprised of soil sampling, airborne and ground geophysics, trenching, geology and prospecting, with diamond drilling on the already defined gold anomalies. A detailed description of the multi-disciplinary program is outlined below.
The field soil survey program will consist of the collection and analysis of approximately 33,000 soil samples; anecdotally one of the largest single-season soil surveys ever undertaken in the White Gold District. A first-phase “ridge and spur” soil sampling survey is designed to rapidly and cost effectively screen all areas of Ethos properties. Simultaneous detailed follow-up soils will provide greater definition and extensions of gold-in-soil anomalies at Wolf and copper-molybdenum soil anomalies at Bridget. The soil sampling program will begin in early June.
Airborne Geophysics (Magnetics and Radiometrics)
Detailed airborne magnetic and radiometric surveying is planned for all of Ethos’ properties. The magnetic signature of the rocks is useful in helping to outline the distribution of lithologies and for locating structural features which may be gold-bearing. Radiometric surveying is also useful for determining the distribution of lithologies and for locating larger porphyry copper-molybdenum-gold targets. The airborne surveying is expected to begin in July. Preliminary results are expected daily while the survey is in progress; post-processing and final product delivery will be completed later in the season.
Trenching, Ground Magnetics Surveying, Prospecting, and Geology
A systematic program evaluating anomalous areas of gold, copper and molybdenum will include trenching, detailed ground geophysics surveys, prospecting, and geological mapping. Initially, the focus of this work will be at the Bridget copper-molybdenum porphyry area and the Wolf gold-in-soil anomaly. Trenching, prospecting, and geological mapping of various target areas is scheduled to begin in early June and continue for several months.
A 2,000 meter diamond drill program is planned to test the Wolf property and its extensive gold-in-soil anomalies. The drill is scheduled to be mobilized in mid-August. A series of drill holes are planned to test gold-in-soil anomalies that collectively extend over 2,800 meters in length and remain open-ended. A detailed soil survey in July is expected to refine and further define this drill target.