Savant Lake, Ontario

70% (earn in): Extensive Sheared Iron Formation Hosted Gold

Highlights

  • 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.

Key Terms

  • Ethos can earn a 70% interest in Savant Lake by making the following cash payments, share payments, and work commitments:
  Cash Shares Work Commitment
On Signing $50,000 2,000,000  
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
Total $200,000 8,000,000 $2,000,000
  • 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
Ethos Gold Corp.

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