Vancouver, BC – August 25, 2010, Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) is pleased to report that it has received the assay results from its scout percussion drill program on the Corrales silver-lead-zinc property, Chihuahua state, Mexico.
A total of 42 shallow scout percussion holes were completed in order to better define diamond drill targets within the large mineralized system. The program was highly successful because it had numerous anomalous values on the western and southern flanks of an outcrop area for which follow-up diamond drill testing is required.
At Corrales, carbonate hosted, silver-rich, polymetallic mineralization is exposed in numerous pits and shallow workings thought to date from the 1930’s. The mineral occurrences and old workings are associated with extensive alteration that shares many similarities with those surrounding significant known ‘productive’ systems elsewhere in this world-class polymetallic district: pervasive bleaching and local marbilization, dark brown to black calcite veining, silicification and dolomitisation with associated felsic dikes and minor oxidized silver-lead-zinc-copper replacements and chimneys.
The hydrothermal system as presently defined measures 100 to 300 meters wide and approximately 1100 meters long. This zone, exposed in essentially flat lying terrain at the edge of an extensive pediment area, is open for extension in three directions.
These characteristics are associated with many of the larger known productive systems in the region and are interpreted as potentially higher level expressions of a significant polymetallic system either at depth and/or along strike under younger cover to the south and west.
Significantly, the historic showings are not documented in any data base of the Mexican geological survey; the property was only re-discovered following detailed regional work by a major mining company that used a variety of data to vector in to this area.
An initial, induced polarization/resistivity survey was unsuccessful in outlining drill targets because of conductive overburden, so a program of shallow air-track drilling was designed to help determine where the focus for follow up diamond drilling program should be and where the prospective parts of the precious and base metal bearing system are located in the exposed area.
A total of 1027.5 meters of percussion drilling was completed in 42 vertical holes over the surface extent of the mineralized zone. Hole depth varied from 13.5 to 31.5 meters and was entirely in oxidized material. Each hole was sampled over its entire length at 1.5 meter intervals and a total of 642 samples were collected. Each 20 sample batch included a standard, a blank and a duplicate sample for QC/QA control.
Results were very positive in that moderate to strongly anomalous values were encountered in 30 of the 42 holes drilled defining a broad / strong / prospective multi-element Zn-Pb-Ag bearing zones. Highlights included Hole 10-CO-02 which returned a 19.5 meter section averaging 25.5 g/t Ag, 0.14 % Pb and 0.6 % Zn and Hole 10-CO-15A which returned a 31.5 meter interval averaging 38.05 g/t Ag, 1.2 % Pb and 3.47 % Zn.
These drill holes are in the area of shallow pits and some outcrops, but confirm that the mineralization does go to depth. The area is covered by surface alluvium that has masked the rock and since the geophysical survey could not see through this alluvium it is unknown how far beyond the outcroppings the mineral extends at this time.
In light of the success of this program, the company has suspended its drilling program at the Santa Teresa property and is moving the diamond drill rig to Corrales immediately.
The technical data in this news release has been reviewed and approved by James M. Dawson, P. Eng., consultant to the company who supervised the work and who is a qualified person under the definition of National Instrument 43-101.
For additional information please contact Gary Freeman or Andy Hay at 604-682-4750 or visit the company website at www.ethoscapitalcorp.com
Ethos Capital Corp.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.