Peter Tallman, COO of Ethos states, “Our trench pit work continues to confirm gold-mineralized bedrock sources for the widespread gold-anomalous soils within the Mascot Creek anomaly. It is significant that all of the gold-anomalous soil targets tested by follow-up trench pits on the Betty property have yielded gold in rock samples over interesting intervals. The gold results to date provide priority drill targets for 2012 work and reinforce our view that the Betty Property has considerable potential for gold mineralization.”
The 17.5 square kilometer Mascot Creek gold soil anomaly was subdivided into nine target sub-areas. In the time available during 2011, four of the nine targets were tested with trench pit lines including Perrault (including Perrault North), Marshall, Bond (see November 15, 2011 News Release) and Mercedes (see October 27, 2011 News Release). A fifth soil target, Miller, was prospected with positive results. The entire Mascot Creek soil anomaly area is unglaciated and soils have developed upon underlying bedrock. All four gold-soil targets were tested with trench pit lines located at or near ridge crests to minimize the potential for mechanical or chemical dispersion. In all cases, gold in rock samples from the trench pits correspond to locations of gold-soil anomalies with minimal displacement. Results from Perrault and Perrault North, Marshall, and Miller targets are reported below and represent the final tranche of assay results from rock sampling on the Betty Property.
CLICK HERE to view trench pit maps for the Perrault and Perrault North, Marshall, Mercedes and Bond targets.
Trench Pit Results
A total of 10 trench pit lines tested the Perrault anomaly. Of the 10 trench pit lines, three returned anomalous results and seven were affected by permafrost and need to be retested. Line 6 along the western portion of the target returned 0.3 g/t gold over 107 meters. Line 7 returned 12.7 g/t gold over 2 meters, 140 meters to the east from Line 6. Line 8 returned 11.7 g/t gold over 2 meters, 66 meters to the east of Line 7. Total distance of anomalous gold in adjacent trench pits is 206 meters.
One trench pit line tested a target generated by prospecting northeast of the Perrault area. Trench pit Line 9 assayed 1.3 g/t gold over 15 meters.
A total of 3 trench pit lines tested a small portion of the Marshall anomaly. One of the three returned the anomalous result of 0.5 g/t gold over 21 meters. A second line returned a result of 0.5 g/t gold over 15 meters. A third line returned a result of 0.4 g/t gold over 9 meters. All trench pit lines encountered permafrost.
The Miller target is located along the steep western slope of Mascot Creek and was prospected in early October 2011 following suggestions that mid-slope and base-of-slope outcrops could be responsible for the Miller soil anomaly. Two outcrops were located by hand-trenching. One mid-slope outcrop assayed 1.3 g/t gold from a felsic intrusive with quartz-pyrite stringers. One base-of-slope subcrop assayed 1.6 g/t gold from an altered granodiorite with abundant iron staining. These grab samples suggest the Miller soil anomaly has a direct bedrock source beneath a thin veneer of soil and more work will be directed towards this target in 2012.
Five rock grab samples collected from prospecting have yielded gold assays of 0.3 g/t to 2.3 g/t gold in widespread locations within the central portion of property. All samples are from quartz veining in schistose rocks to the north and west of Mascot Creek soil anomaly. These samples are significant as they were collected along the inferred trace of the Coffee fault and provide a further indication that multiple rock units on the Betty property can host gold mineralization.
Ethos has received detailed high-resolution orthophotos of the Betty Property from which topographic ‘linears’ have been mapped. This data, combined with gold-trench results, mapping of multi-element soil geochemistry domains, and mapping of magnetic and radiometric features from airborne surveying is being used to locate and prioritize 2012 drill targets and develop budgets. Planning is well underway to incorporate a drilling campaign with additional soil sampling, trench pit sampling, and prospecting and mapping during the 2012 season.
Rock samples in this news release 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 if greater than 10 g/t Au. All rocks are also analyzed for 36 reporting elements by ICP-MS using a 0.5 g sub-sample which undergoes aqua regia digestion.
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. Acme is ISO 9001 certified. Ethos uses protocols standard to the industry and professional QA/QC procedures for assaying including the use of laboratory standards, blanks, and duplicates, the retention of pulps and coarse rejects, and the maintenance of chain-of-custody among other procedures.
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 Capital Corp. and Qualified Person as defined by National Instrument 43-101 policy.
About Ethos Capital Corp.
Ethos’ principal assets are its substantial mineral land positions in the heart of the emerging White Gold/Klondike gold district, as well as its Corrales silver-zinc-lead property in Mexico. Ethos currently has approximately 42.6 million shares issued and outstanding, and working capital of approximately $14.25 million.
For additional information please contact Gary Freeman or Fred Leigh at 604-682-4750, or visit the company website at www.ethoscapitalcorp.com.
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