Vancouver, BC – June 26, 2012 Ethos Gold Corp. (the “Company” or “Ethos”) (TSX-V: ECC) is pleased to announce assay results from 22 drill holes, representing the first half of a planned reconnaissance Phase One drill program on the 100% owned Betty Gold Property, Yukon Territory. These 22 reverse circulation (“RC”) holes target the ~17 square kilometer Mascot Creek gold-in-soil anomaly that yielded prospecting rock grab samples up to 24.8 g/t Au (see October 6, 2011 news release) and intervals in trench pits with the best result averaging 7.3 g/t Au over 50 meters (see October 27, 2011, November 15, 2011 and January 18, 2012 news releases).
Widespread drilling has so far tested five sub-areas within the Mascot Creek anomaly. Intervals of intense alteration containing gold mineralization have been discovered in all sub-areas tested. The best results so far occur in BETR-022 which intersected 7.1 g/t gold and 209 g/t silver over 13.7 meters (Marshall target) and in BETR-012 which assayed 29.8 g/t gold over 3.1 meters (Perrault target). True width is unknown for all intercepts.
|Au g/t||Ag g/t|
Gary Freeman, President and CEO of Ethos states, “We are excited to have made several new and substantial gold discoveries during the first drill test program on the Betty Property which is confirmed to have potential to host large gold deposits. We are looking forward to continued success as the drill completes the remainder of the reconnaissance program and begins follow-up drilling in July.”
A summary table of all assay results for holes BETR12-001 to BETR12-022 are available on the Ethos website at www.ethosgold.com along with a location plan map of drill holes contained in this news release, photographs of drill holes in the Highlights table, and a table of collar statistics for all holes including location, azimuth, dip, and length of hole.
To view a summary table of all assay results for holes BETR12-001 to BETR12-022 CLICK HERE. To view photographs of the drill holes referred to in the Highlights table CLICK HERE. To view a table of collar statistics for all holes including location, azimuth, dip, and length of hole CLICK HERE. To view a location plan map of the drill holes contained in this news release CLICK HERE.
To date, a total of 30 of 44 planned Phase One holes have been completed using a reverse circulation (“RC”) drill rig contracted from Northspan Explorations Ltd. The RC rig completes an average of one hole per day to an expected target depth of 150 meters. All holes have been drilled at a 50 degree angle. True width is unknown for all intercepts. Approximately 4,000 meters of drilling has been completed, and 3,000 samples weighing approximately 6 tonnes have been submitted for assay. The drill program is currently operating on schedule and under budget.
The principal objective of Phase One reconnaissance drilling is to identify gold grades over width in bedrock beneath gold-bearing surface trench pits or anomalous gold soils. Most RC holes to date have intersected limonite and clay alteration and arsenopyrite mineralization, with or without quartz veining and silicification. There appears to be several phases of progressive or overprinting alteration and mineralization which is a very positive exploration indication. Some holes have intersected mineralized andesite and felsite dykes within alteration zones. A total of 14 of 22 holes so far have gold bearing intervals.
Peter Tallman, COO of Ethos states, “The sizeable intersections of both higher and lower gold grades, as well as the presence of intense widespread alteration is very encouraging at this early stage of exploration.”
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo, Chief Operating Officer of Ethos Gold Corp. and Qualified Person as defined by National Instrument 43-101 policy.
RC drill chip samples were analyzed at Acme Analytical Laboratories (“Acme”) for gold using a 30 gram sub-sample by fire assay with an atomic absorption finish under 10 g/t Au and a gravimetric finish re-assay for results greater than 10 g/t Au. All rocks were also analyzed by multi-element ICP-MS. Over-limit amounts of silver (greater than 100 g/t) are re-assayed using a 30 gram sub-sample by fire assay with a gravimetric finish. Acme is ISO 9001 certified. Analytical QA/QC programs monitoring the precision and accuracy of results includes the routine use of assaying sample duplicates, certified reference standard(s), and both assay and prep wash blanks. Ethos uses protocols standard to the industry and professional QA/QC procedures which also includes the retention of pulps and coarse rejects and the maintenance of chain-of-custody among other procedures.
About Ethos Gold Corp.
Ethos’ principal asset is its substantial mineral land position totalling 1,020 square kilometers in the heart of the White Gold/Klondike gold district directly adjacent to Kaminak Gold Corporation’s Coffee Gold Project and Western Copper Corporation’s feasibility stage Casino gold – copper project. Ethos has working capital of approximately $13 million and is fully funded for 2012 to execute a planned $7.3 million exploration program focused on the Betty Gold Property consisting of approximately 16,000 meters of drilling. Ethos currently has approximately 42.9 million shares issued and outstanding.
For additional information please contact Gary Freeman or Fred Leigh at 604-682-4750.
Ethos Gold Corp.
Per: “Gary Freeman”
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