A contract has been let for the percussion drilling program at Corrales and is scheduled to begin on June 11, 2010. Approximately 40 shallow (25 meters) air-track holes are planned and the program should be completed in approximately 3 weeks. Coinciding with the drill program, a soil gas survey is planned for the overburden-covered area peripheral to the presently exposed mineralized zone. These programs are designed to test the depth and on-strike potential of the known mineralization.
At the Santa Teresa property, three 500 meter core holes are planned to test the San Jose zone. Surface and underground mapping has indicated that this area has the best potential for the discovery of higher grades as well as multiple, parallel, mineralized zones. Access roads and drill platforms are presently being constructed and three bids have been solicited from contractors. The start-up date is projected to be around July 1, 2010. Concurrent with the drilling at the San Jose zone, a program of underground mapping and sampling will be completed on the La Florida zone. Samples of mineralized material from La Florida workings are currently being examined by Dr. Peter Lecouteur, consulting mineralogist, and a detailed report is expected shortly.
This news release has been prepared by James M. Dawson, P.Eng., a qualified person as defined by National Instrument 43-101. Mr. Dawson supervises the exploration work conducted at both the Corrales and Santa Teresa properties.
For additional information please contact Gary Freeman or Andy Hay at 604-682-4750 or visit the company website at www.ethoscapitalcorp.com
On behalf of the board
Gary Freeman, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions:
This press release may contain certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the Company’s planned 2019 exploration program for its Pine Pass project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other governmental clearances, necessary to carry out the Company's exploration plans, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects