Vancouver, BC – September 12, 2011 – Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) reports gold analyses from rock grab samples up to 16.4 g/t gold with 10 g/t silver from a trench in the area of Mascot Creek at the Betty Property located southeast along-strike of Kaminak Gold Corporation’s (“Kaminak”) Coffee discovery in the White Gold District, west-central Yukon Territory, Canada.
Ethos has one of the largest property packages in the White Gold District totalling 5,089 claims covering an area of 1,063 square kilometers. Ethos’ Betty Property, comprised of 856 claims covering 179 square kilometers, is situated immediately east of Kaminak’s Coffee Property. Gold mineralization at Kaminak’s flagship Coffee Property is associated with a regional scale structural corridor termed the “Coffee Fault”. The Coffee Fault is defined by a pronounced east-west trending topographic and magnetic lineament that transects Ethos’ Betty Property. The Coffee Fault and subordinate structures are the focus of Ethos’ Betty Property exploration program.
Summary of Results
- A rock grab sample assays 16.4 g/t gold and 10 g/t silver; a new discovery within the Mascot Creek anomalous.
- Another separate new discovery 1,800 meters to the west of Mascot Creek with rock grab samples assaying 0.7 g/t to 0.9 g/t gold with 8 g/t to 10 g/t silver.
- One reconnaissance prospecting sample assays 0.3 g/t gold with 37 g/t silver from outcrop immediately north of the Coffee Fault and 11 kilometers west of Mascot Creek.
Betty Rock Sampling, Trenching, and Prospecting Results
One rock grab sample assaying 16.4 g/t gold and 10 g/t silver was collected from a hand-dug trench 25 meters uphill of the site of the 1,149 ppb Au ridge-and-spur soil anomaly (see News Release August 29, 2011) located near the ridge crest east of Mascot Creek. The sample contains massive arsenopyrite veining and is hosted by altered granodiorite. A total of 700 meters of trenching has since been excavated in this area with more arsenopyrite veining recognized; systematic rock sample results from trenches are pending.
A second area of altered gold-bearing rock was discovered 1,800 meters to the west near the ridge crest on the west side of Mascot Creek (on the opposite ridge). Two rock grab samples from a backhoe-dug trench assayed 0.7 g/t to 0.9 g/t gold with 8 g/t and 10 g/t silver. A total of 2,000 meters of trenching has been completed in this area and a further 3,500 meters of trenching is underway; systematic rock sample results from trenches are pending. Iron-rich alteration is widespread in trenches in this area, corresponding to anomalous gold-in-soil sites.
One reconnaissance prospecting grab sample assays 0.3 g/t gold with 37 g/t silver from outcrop immediately north of the Coffee Fault and 11 kilometers west of the 16.4 g/t gold sample. The sample is from brecciated chert with quartz and pyrite-galena veining. This sample is significant as it represents the first gold-bearing outcrop located by Ethos personnel north of the Coffee Fault on the Betty Property and indicates additional exploration potential. No further work has been undertaken here but immediate follow-up is planned.
To view the map locating these anomalous rock samples within the Betty Property please click here.
Results so far continue to indicate potential in the Mascot Creek area for a large gold-mineralized system. Gary Freeman, CEO and President of Ethos states “Although the company awaits a large backlog of soil and rock data, these gold results from initial rock samples are extremely encouraging.”
Ethos is planning for a continuing soil sampling program and follow-up trenching program to last into October. As soil targets are confirmed by prospecting and trenching, drill pad construction is currently planned to continue to the end of September.
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. 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 are analyzed 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.
A limited number of rock samples are also submitted to and analyzed by Eastern Analytical Limited (“Eastern”) of Springdale, Newfoundland and results obtained within 3 days of submission. The objective in using Eastern is to determine if gold is present in selected rocks on a timely basis to guide ongoing exploration. Rock samples submitted to Eastern are crushed and a 15 gram subsample assayed for gold by fire assay — atomic absorption finish. Also included are analyses of blanks plus five chemical reference standards as part of the QA/QC procedure. Pulps from these samples have been retained.
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 Santa Teresa and Corrales silver-zinc-lead properties in Mexico. Ethos currently has approximately 40.8 million shares issued and outstanding, and working capital of approximately $17 million.
For additional information please contact Gary Freeman or Andy Hay 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