Vancouver, BC – November 15, 2011 – Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) reports trench results from three new trench pit lines, with gold analyses up to 0.9 g/t Au over a distance of 27 meters from the Bond target within the large 17.5 square kilometer Mascot Creek gold soil anomaly at the Betty Property, located east of Kaminak Gold Corporation’s (“Kaminak”) Coffee discovery in the White Gold District, west-central Yukon Territory, Canada.
Gary Freeman, CEO and President of Ethos states, “The Mascot Creek area is particularly exciting because we have discovered significant gold mineralization in rock samples from a second area at Bond within the very large gold soil anomaly. These continuing positive gold results from pit trenches are extremely encouraging because it continues to indicate there are gold mineralized bedrock sources for the gold-soil anomalies. These results continue to reinforce our view that the Betty Property has considerable potential for gold mineralization.”
The Mascot grid contains a large, multi-line gold-soil anomaly that is similar in size and intensity to anomalies defined at recent gold discoveries in the Klondike White-Gold District, including the White (Underworld) and Coffee (Kaminak). The Mascot Creek anomaly has been subdivided into nine zones including Bond, Mercedes, and others based on geochemical and geophysical characteristics. Recent results for Mercedes pit trenches on gold-soil anomalies yielded results of 7.3 g/t Au over 50 meters and 2.9 g/t Au over 45 meters (see October 27, 2011 news release).
New pit trench results have now been received for the Bond target (0.9 g/t Au over 27 meters), which is located 1.75 kilometers to the west of Mercedes (7.3 g/t Au over 50 meters) within the Mascot Creek soil anomaly.
Bond Target Pit Trench Results:
The Bond gold-soil anomaly is up to 2,000 meters in length with soil values up to 1.14 g/t gold and is associated with a fault interpreted from a north-south oriented magnetic ‘break’ feature.
Trenching tested a 575 meter length along the Bond target with a series of three trench pits lines (Line 3, Line 4 and Line 5) excavated across the Bond soil anomaly and systematically sampled. Line 3 is the southernmost line and is 325 meters south of Line 4. Line 4 is the middle line and is located 250 meters south of Line 5.
Bond Line 3: A total of 23 trench pits were excavated along a 172 meter length. Six representative samples from 4 pits along a 27 meter mineralized interval within Line 3 average 0.9 g/t gold over the 27 meter length, within a longer interval of 0.5 g/t gold over an 80 meter length. Of note, these correspond to soil samples results spaced 25 meters apart of 125, 85, 193, and 1137 ppb gold over this same interval.
Bond Line 4: A total of 13 trench pits were excavated along a 78 meter length. Three samples from an 11 meter mineralized interval within Line 4 average 0.5 g/t gold over the 11 meter length. The corresponding Line 4 soil results spaced 25 meters apart individually were 300 and 137 ppb gold over this same interval.
Bond Line 5: A total of 17 trench pits were excavated along a 235 meter length. One sample from a 5 meter mineralized interval within Line 5 assayed 7.0 g/t gold over the 5 meter length. The corresponding Line 5 soil result contained 377 ppb gold at this same interval.
To view a location map of the Line 3, 4, and 5 trench pits please click here.
To view a compilation map of the Betty property gold soil anomalies please click here.
A detailed map of the Mascot Creek area soil anomalies with the location of the individual zones can be viewed by clicking here.
Surrender of 70% Option in the Santa Teresa Property
Ethos has elected to surrender and terminate its right to acquire the Santa Teresa property from Minerales Y Metales California, S.A. de C.V. (“MMC”), a wholly owned subsidiary of Cardero Resource Corp. (“Cardero”). Ethos and Cardero have agreed in due course to formalize appropriate amendments to the Option Agreement and as a result Ethos will only have the right to earn a 70% working interest in the Corrales Property.
Proposed pit trench lines are flagged. Brush is cut along the flagged line and cleared. A series of trench pits within the Bond soil trend were excavated and systematically sampled along three trench lines (Lines 3, 4 and 5) following anomalous gold-soils. Each pit is excavated to the effective depth capable of the machine of between 1.5 to 2.0 meters over a length at bottom of 1.0 to 2.0 meters. Pits are spaced between 5 and 10 meters apart along the line. Each pit is GPS’d (in UTM NAD83 datum) with a hand-held Garmin instrument with an assumed accuracy of +/- 5 meters horizontally. The pit is photographed and the photo geo-tagged to the pit UTM coordinate. One continuous rock-soil sample across the bottom/side of the pit is collected weighing 1.3 to 2.5 kg and geo-tagged to the pit UTM coordinate. The rock and mineral fragments are examined and described; a sample assay tag is inserted into the bag and sealed. Individual bags are aggregated in larger ‘rice bags’ with sample numbers per bag recorded, the rice bags sealed, and delivered to ACME Lab facility in Dawson. An ACME Lab representative signs for receipt of bag(s).
Using the pit trench methodology, grade/length estimations are indicators of exploration potential only and should not be relied upon as they may overestimate the area of the potential bedrock source. The Bond soil anomaly area is unglaciated and has been weathered in place over time; solid bedrock is beyond the depth reach of the backhoe in this area. Consequently, material collected by pit trench sampling is considered a C-horizon soil comprised of mechanically and chemically disaggregated fragments derived directly from the bedrock below. The Bond soil anomaly where trenched occurs at a ridge crest thus mechanical and chemical dispersion is assumed to be minimal. However, because it is a soil these processes may act to ‘fan’ the area of locally-derived anomalous material which, using the pit trench methodology, will overestimate the area of the potential bedrock source.
A comprehensive QA/QC program is in place to monitor precision and accuracy of analytical results. All soil samples are submitted to Acme Analytical Laboratories Ltd. (“Acme”) for analysis. Soil sample field duplicates are routinely collected and inserted into the analytical stream as are pulp duplicates, as well as certified reference materials and blanks.
Soil samples are analyzed by Acme Analytical Laboratories Ltd. (“Acme”). A 15 g sub-sample of soil material is ignited, acid digested, and gold determined by ICP-MS; a 0.5 g sub-sample undergoes aqua regia digestion with ICP-MS analysis for 36 reporting elements.
Rock samples in this news release were analyzed at 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 by ICP-MS using the same methodology as per soils.
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 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 41.3 million shares issued and outstanding, and working capital of approximately $14.5 million.
For additional information please contact Gary Freeman or Fred Leigh at 604-682-4750 or visit the company website at www.ethoscapitalcorp.com.
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