Ethos Capital Corp. (the "Company" or "Ethos") (TSX
VENTURE:ECC)(OTCQX:ETHOF)(FRANKFURT:1ET) reports trench results
from three new trench pit lines, with gold analyses up to 0.9 g/t
Au over a distance of 27 meters from the Bond target within the
large 17.5 square kilometer Mascot Creek gold soil anomaly at the
Betty Property, located east of Kaminak Gold Corporation's
("Kaminak") Coffee discovery in the White Gold District,
west-central Yukon Territory, Canada.
Gary Freeman, CEO and President of Ethos, states, "The Mascot
Creek area is particularly exciting because we have discovered
significant gold mineralization in rock samples from a second area
at Bond within the very large gold soil anomaly. These continuing
positive gold results from pit trenches are extremely encouraging
because it continues to indicate there are gold mineralized bedrock
sources for the gold-soil anomalies. These results continue to
reinforce our view that the Betty Property has considerable
potential for gold mineralization."
The Mascot grid contains a large, multi-line gold-soil anomaly
that is similar in size and intensity to anomalies defined at
recent gold discoveries in the Klondike White-Gold District,
including the White (Underworld) and Coffee (Kaminak). The Mascot
Creek anomaly has been subdivided into nine zones including Bond,
Mercedes, and others based on geochemical and geophysical
characteristics. Recent results for Mercedes pit trenches on
gold-soil anomalies yielded results of 7.3 g/t Au over 50 meters
and 2.9 g/t Au over 45 meters (see October 27, 2011 news
release).
New pit trench results have now been received for the Bond
target (0.9 g/t Au over 27 meters), which is located 1.75
kilometers to the west of Mercedes (7.3 g/t Au over 50 meters)
within the Mascot Creek soil anomaly.
Bond Target Pit Trench Results:
The Bond gold-soil anomaly is up to 2,000 meters in length with
soil values up to 1.14 g/t gold and is associated with a fault
interpreted from a north-south oriented magnetic 'break'
feature.
Trenching tested a 575 meter length along the Bond target with a
series of three trench pits lines (Line 3, Line 4 and Line 5)
excavated across the Bond soil anomaly and systematically sampled.
Line 3 is the southernmost line and is 325 meters south of Line 4.
Line 4 is the middle line and is located 250 meters south of Line
5.
Bond Line 3: A total of 23 trench pits were excavated along a
172 meter length. Six representative samples from 4 pits along a 27
meter mineralized interval within Line 3 average 0.9 g/t gold over
the 27 meter length, within a longer interval of 0.5 g/t gold over
an 80 meter length. Of note, these correspond to soil samples
results spaced 25 meters apart of 125, 85, 193, and 1137 ppb gold
over this same interval.
Bond Line 4: A total of 13 trench pits were excavated along a 78
meter length. Three samples from an 11 meter mineralized interval
within Line 4 average 0.5 g/t gold over the 11 meter length. The
corresponding Line 4 soil results spaced 25 meters apart
individually were 300 and 137 ppb gold over this same interval.
Bond Line 5: A total of 17 trench pits were excavated along a
235 meter length. One sample from a 5 meter mineralized interval
within Line 5 assayed 7.0 g/t gold over the 5 meter length. The
corresponding Line 5 soil result contained 377 ppb gold at this
same interval.
To view a location map of the Line 3, 4, and 5 trench pits
please click the following link:
http://www.ethoscapitalcorp.com/i/maps/yukon/Betty_Bond_Trenching_10Nov11.jpg
To view a compilation map of the Betty property gold soil
anomalies please click the following link:
http://www.ethoscapitalcorp.com/i/maps/yukon/Betty_Assay_Results_27Oct2011.jpg
A detailed map of the Mascot Creek area soil anomalies with the
location of the individual zones can be viewed by clicking the
following link:
http://www.ethoscapitalcorp.com/i/maps/yukon/Betty_Mascot_Assay_Results_27Oct2011.jpg
Surrender of 70% Option in the Santa Teresa Property
Ethos has elected to surrender and terminate its right to
acquire the Santa Teresa property from Minerales Y Metales
California, S.A. de C.V. ("MMC"), a wholly owned subsidiary of
Cardero Resource Corp. ("Cardero"). Ethos and Cardero have agreed
in due course to formalize appropriate amendments to the Option
Agreement and as a result Ethos will only have the right to earn a
70% working interest in the Corrales Property.
Geotechnical Information
Pit Trenching
Proposed pit trench lines are flagged. Brush is cut along the
flagged line and cleared. A series of trench pits within the Bond
soil trend were excavated and systematically sampled along three
trench lines (Lines 3, 4 and 5) following anomalous gold-soils.
Each pit is excavated to the effective depth capable of the machine
of between 1.5 to 2.0 meters over a length at bottom of 1.0 to 2.0
meters. Pits are spaced between 5 and 10 meters apart along the
line. Each pit is GPS'd (in UTM NAD83 datum) with a hand-held
Garmin instrument with an assumed accuracy of +/- 5 meters
horizontally. The pit is photographed and the photo geo-tagged to
the pit UTM coordinate. One continuous rock-soil sample across the
bottom/side of the pit is collected weighing 1.3 to 2.5 kg and
geo-tagged to the pit UTM coordinate. The rock and mineral
fragments are examined and described; a sample assay tag is
inserted into the bag and sealed. Individual bags are aggregated in
larger 'rice bags' with sample numbers per bag recorded, the rice
bags sealed, and delivered to ACME Lab facility in Dawson. An ACME
Lab representative signs for receipt of bag(s).
Using the pit trench methodology, grade/length estimations are
indicators of exploration potential only and should not be relied
upon as they may overestimate the area of the potential bedrock
source. The Bond soil anomaly area is unglaciated and has been
weathered in place over time; solid bedrock is beyond the depth
reach of the backhoe in this area. Consequently, material collected
by pit trench sampling is considered a C-horizon soil comprised of
mechanically and chemically disaggregated fragments derived
directly from the bedrock below. The Bond soil anomaly where
trenched occurs at a ridge crest thus mechanical and chemical
dispersion is assumed to be minimal. However, because it is a soil
these processes may act to 'fan' the area of locally-derived
anomalous material which, using the pit trench methodology, will
overestimate the area of the potential bedrock source.
Soil Samples
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.
Soil samples are analyzed by Acme Analytical Laboratories Ltd.
("Acme"). 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
Rock samples in this news release were analyzed at Acme 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.
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 Corrales silver-zinc-lead property in
Mexico. Ethos currently has approximately 41.3 million shares
issued and outstanding, and working capital of approximately $14.5
million.
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, further trench results received from the Mascot
Creek soil anomaly, the identification of a new zone on the Betty
Property, White Gold District, Yukon, as well as the Company
surrendering its 70% option in the Santa Teresa Property, Cahuila
State, Mexico. 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 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. Fred Leigh 604-682-4750www.ethoscapitalcorp.com
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