Ethos Commences Exploration in the White Gold District, Yukon
June 08 2011 - 9:00AM
Marketwired
Ethos Capital Corp. (the "Company" or "Ethos") (TSX VENTURE:
ECC)(OTCQX: ETHOF)(FRANKFURT: 1ET) is pleased to announce the
commencement of 2011 exploration activities on its properties in
the White Gold District, Yukon. The Company has five separate
properties in the White Gold District totalling 3,647 mineral
claims covering 763 square kilometers in area. To view the location
of our claims please click on the following link:
http://www.ethoscapitalcorp.com/i/maps/yukon/white-gold-claims.jpg.
Ethos has budgeted $6.0 million to initiate the 2011 exploration
work on its White Gold District properties (see May 10, 2011 News
Release). A comprehensive and systematic exploration field program
is planned. The program is comprised of soil sampling, detailed
soil type mapping, airborne and ground geophysics, trenching,
geology and prospecting, orthophotography and digital elevation
(terrain) modeling, and 2,000 meters of diamond drilling on
significant gold-in-soil anomalies at the Wolf property.
Soil Survey Program
The regional soil sampling program, a major early component of
the field season, has begun. Ethos plans to collect approximately
33,000 soil samples equivalent to approximately 1,500 line
kilometers of sampling to provide coverage of all areas of all
properties this summer. The Phase 1 soil program is underway with
crews collecting approximately 16,000 soils in total including
13,500 collectively from the Betty and Bridget properties and
another 2,500 soils from the Hen property at a collection rate of
approximately 2,000 soils per day. Soil samples are submitted daily
to Acme Analytical's preparation laboratory located in Dawson City,
Yukon. Once prepared the soil pulps are flown to Acme's Analytical
Laboratories Ltd. located in Vancouver for analysis.
Geology and Prospecting
The geology and prospecting program is underway. The initial
target to be evaluated is the Bridget porphyry target originally
discovered by Silver Standard in 1970 who described chalcopyrite
(copper), molybdenum, and "visible gold in thin quartz veinlets"
from the prospect. Soil sampling by, the optionor, Shawn Ryan
between 2005 and 2008 identified a copper-molybdenum soil anomaly
1,000 meters in length and open beyond the ends of his survey. This
is the initial prospecting and mapping target. A trenching program
plus detailed soils and ground geophysics is planned to further
test the area following the geological evaluation. The Bridget
porphyry target conceptually has similarities to the Casino
copper-molybdenum-gold porphyry project located 20 kilometers to
the south which contains NI43-101 mineral resources of 8.5 million
ounces gold, 4.5 billion pounds copper, and 500 million pounds
molybdenum (Western Copper, December 2010).
Updates and further details pertaining to the various components
of Ethos's $6.0 million exploration program in the White Gold
District will be provided as these programs begin or achieve
significant milestones.
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 40.7
million shares issued and outstanding, and working capital of
approximately $20.0 million.
Ethos Capital Corp.
Per:
Gary Freeman, President & CEO
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements"
within the meaning of Canadian securities legislation, relating to,
among other things, the Company's 2011 Yukon exploration program.
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, possible, accidents and other
risks associated with mineral exploration operations, the risk that
the Company will encounter unanticipated geological factors, 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 Mexico 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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Ethos Capital Corp. Gary Freeman 604-682-4750 Ethos
Capital Corp. Andy Hay 604-682-4750 www.ethoscapitalcorp.com
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