RE: drilling
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) -Ethos Capital Corp. (the "Company" or "Ethos") (TSX VENTURE:ECC)(OTCQX:ETHOF)(FRANKFURT:1ET) is pleased to announce that the Board has approved a $7.3 million 2012 exploration program focussed on the Betty Gold Property, Yukon Territory. The 2012 exploration program primarily consists of a planned 16,000 meters of drilling using two drills and the collection of 10,000 soil samples. Ethos has working capital of approximately $14 million and is fully funded for 2012. Work is expected to begin with drilling in May followed by soil sampling and other ground field work in June.
Initial exploration in 2011 on the Betty Property discovered the Mascot Creek gold target. The Mascot Creek target is comprised of a ~17 square kilometer gold-in-soil anomaly that yielded gold in prospecting rock grab samples up to 24.8 g/t Au (see October 6, 2011 News Release) and gold intervals in trench pits with the best result averaging 7.3 g/t Au over 50 meters (see October 27, 2011, November 15, 2011 and January 18, 2012 news releases).
2012 Drill Program
The plan for 2012 exploration includes mobilizing equipment and camp materials in May to the Betty Property. One reverse circulation ("RC") rig is planned to commence drilling in May, with an additional diamond core rig to be mobilized to begin drilling as the 2012 program advances. The principal objective of RC drilling is to identify gold grades over width in bedrock beneath gold-bearing surface trench pits. The first 25 planned RC holes target directly beneath 25 unique gold intervals from 22 surface trench pits within the 17 square kilometer Mascot Creek anomaly area. A further 15 RC holes target high gold-in-soil values within anomalous trends that have not received trench pit tests. The diamond core rig will be used to follow up and systematically evaluate gold mineralization identified in bedrock by RC drilling.
To view a map of the drill target area, please CLICK HERE: https://www.ethoscapitalcorp.com/i/maps/yukon/2012DrillingArea.jpg
New Gold Targets
Three large new targets identified in 2011 within the Betty property have soil geochemistry, magnetic, radiometric, and geological signatures that are each equivalent in area (~20 sq. km) and alteration signature to the original Mascot Creek anomaly. These new targets will be evaluated in 2012 with 10,000 detailed soils, followed by prospecting and pit trenching. The principal objective of soil sampling is to generate new areas to test with drilling.
To view a map of the soil target area, please CLICK HERE: https://www.ethoscapitalcorp.com/i/maps/yukon/2012SoilTargets.jpg
The technical and scientific 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.