70% (earn in): Extensive Sheared Iron Formation Hosted Gold
Savant Lake, Ontario
- Six historic, high-grade iron formation-hosted surface gold occurrences identified to date within 60 km of cumulative strike length of under-explored iron formation.
- Two shear-hosted gold occurrences are known, and VMS targets also exist in the bimodal volcanic rock sequences exposed on the eastern and southwestern margins.
- Many of the priority gold and VMS targets have yet to be drill tested.
High-resolution helicopter based aeromagnetic survey is complete, and together with comprehensive analysis of the historical data, plan for drill testing of targets in 2021.
- Ethos can earn a 70% interest in Savant Lake by making the following cash payments, share payments, and work commitments:
|Sep 20, 2021||$50,000||2,000,000||$500,000|
|Sep 20, 2022||$50,000||2,000,000||$1,000,000|
|Sep 20, 2023||$50,000||2,000,000||$500,000|
- Additionally, if a mineral resource in excess of 1 million oz of gold is defined on the property Ethos will make payments to New Dimension of $50,000 and 2 million common shares of Ethos