Ethos Provides Corporate Update
Vancouver
(OTCQB: E
the Compa
scale prop e
projects hav
in mid-2020
senior advis
Alan Wainw
the supervi
from this w
drill campa
targets.
Highlights
Perk
perm
3km
prop
maid
Sav
estim
sam
by E
high
crew
Q3,
Sch
km2
at m
rece
targ
work
testi
Eth
r, BC – Jan u
ETHOF) is p
ny has acc u
erties with g
ve been acq
0 to work al
sory team co
wright, P.Geo
sion of this
work. The C
igns in 202
s
k-Rocky ( B
mitted for d r
m area. W o
perty with th
den drill prog
vant Lake (O
mated 60 k m
mpled at mult
Ethos has ad
h-priority tar g
ws in early s
2021.
hefferville (Q
of gold be a
multiple loc a
ent high res
et definition
k as soon as
ing later in 2
Suite 1430 –
hos Pr
uary 27, 20 2
leased to pr
umulated a
geologic ev i
quired since
ongside our
omprising D
o. Significan
team and c
ompany is c
1 to drill te s
British Colu m
illing. The p
ork to date
ree high-prio
gram to com
Ontario, 70%
m of prosp e
tiple location
dded signific
get areas h
spring with t
Quebec, 100
aring iron fo r
ations on th e
olution ma g
. Ethos is c
s possible in
2021.
– 800 West Pen
ovides
21, Ethos G
rovide the fo
portfolio of
idence to s
Dr. Rob Car
r VP Explor a
r. Robert Br
nt field work
compelling t
continuing to
st what we
mbia, 100%
project exhib
indicates t h
ority target a
mmence as e
% earn-in) i s
ective strike
ns on the pr
cantly to the
have now b e
the intention
0% owned /
rmation terra
e property,
g survey ha s
ontinuing an
n the spring
nder Street, Va
s Corp
Gold Corp.
ollowing corp
nine gold a n
upport larg e
rpenter joine
ation Jo Pri c
ozdowski, P
k and deskto
targets on a
o advance t
believe is a
earn-in) is
bits extensiv
hat multiple
areas now de
early as poss
s a 229 km 2
length. Hi g
operty. A rec
data set bei
een identifi e
n of ground
100% earn-
ain. Signifi c
many of w h
s added sig
nalysis of the
of 2021 with
ancouver, BC V
porate U
(“Ethos” or
porate updat
nd copper f o
e scale dis c
ed the Comp
ce, P .Geo., M
P.Geo., Dan
op analysis h
a number o f
this targeting
a very excit i
a large co p
ve copper-go
porphyry c e
efined. Etho
sible this spr
gold bearin
gh-grade g o
cent high res
ing utilized f
ed. The C o
truthing targ
-in) is prope
cant gold mi
hich have r
nificantly to
e project dat
h the intentio
V6C 2V6
Update
the “Compa
te. Over th e
ocused proj
covery pote
pany as Chie
M.Sc. Rob
MacNeil, M.
has now bee
f these proj e
g work and
ing and de v
pper-gold p
old mineraliz
enters may
os is intendin
ring (likely M
ng iron form a
old up to 1 3
solution mag
for target de
ompany pla n
get areas fo
erty covering
ineralization
received no
the data s e
ta and plans
on of develo
e
any”) (TSXV
e last severa
ects, mostly
ntial. Six o
ef Technical
brought wit
.Sc., P .Geo,
en complete
ects have e
anticipates
veloping po r
orphyry tar g
zation over a
be presen t
ng to procee
May-June).
ation target
39 g/t Au h a
g survey com
finition, and
ns to mobil i
llowed by d
g approximat
has been s
follow-up w
et being util
s to commen
oping drill tar
V: ECC)
al years
y district
of these
advisor
th him a
and Dr.
ed under
emerged
multiple
rtfolio of
get fully
a 5km x
t on the
d with a
with an
as been
mpleted
several
ize field
rilling in
tely 400
sampled
work. A
ized for
nce field
rgets for
Toogood (Newfoundland, 100% owned / 100% earn-in) comprises a 115 km 2 property at the
northeast extent of the Exploits Subzone, host to several discoveries in Central Newfoundland
including Marathon Gold’s Valentine Lake project. Multiple occurrences of coarse and fine
visible gold have been identified over 28 km of prospective strike on the property. Historical
data compilation is ongoing with a mapping and sampling program and ground truthing
program planned for spring of 2021. An initial drill program is planned for later in 2021.
Iron Point (Nevada, 50% earn-in) is a Lower Plate hosted Carlin-style gold target, located 22
miles east of Winnemucca, Nevada. The project sits at the intersection of the Battle Mountain
and Getchell Gold Trends, with a total gold endowment of nearly 200 million ounces, and
home to several world-class gold mines including Twin Creeks, Getchell/Turquoise Ridge, and
Marigold. Under the supervision of Dr. Quinton Hennigh historical data compilation and
validation was completed in 2020 together with undertaking property wide CSAMT, drone
magnetics, and gravity surveys. This work has identified several high priority targets for
Lower Plate hosted Carlin-style gold mineralization. Drilling of select targets is expected to
commence in 2021.
Craig Roberts, P .Eng., CEO of Ethos stated: “Over the last two years Ethos Gold working with
Discovery Group has attracted what I believe is one of the strongest teams currently in a junior
exploration company. Guided by this team we have accumulated a portfolio of nine large scale gold
and copper projects and completed significant initia l work programs on the majority of them. Our
work to date has identified compelling target areas on a number of our projects and we are now
moving towards a sequence of drill campaigns in 2021 to test multiple targets on a number of these
projects. This will commence with a maiden drill program at the Perk-Rocky copper-gold porphyry
target as soon as we can gain access to mobilize by road to the project this spring. Drill campaigns
on a number of our other projects are then planned through the second half of 2021. 2021 will be a
very exciting year for Ethos and we look forward to a strong news flow as we advance and drill these
projects.”
Project Details
Perk-Rocky, British Columbia (100% earn-in)
Ethos is earning a 100% interest in Perk-Rocky, a copper-gold porphyry target located in Stikine
Terrane of South-Central BC, which hosts the famed “Golden Triangle”. In 2020, the Company
completed a mapping and sampling program confirming a large, telescoped porphyry Cu-Au
mineralized system over an 8 km x 5 km footprint (F igure 1). Extensive copper-gold mineralization is
coincident with geophysical signatures suggestive of multiple porphyry centers within a very large
alteration halo. Further analysis and reinterpretation of the Ethos VTEM survey that was conducted
in 2019 is ongoing to develop robust drill targets. The Company is fully permitted to drill these
targets in 2021 and plans to commence a maiden drill program in the spring of 2021.
Figure 1. P
Savant La
Ethos acqu
Ltd. (TSX. V
formation o
occurs over
that has se
there are m
controls at t
Perk-Rocky
ake, Ontario
uired a 70%
V: CMIL). T h
n the proper
r an approxi
en little syst
multiple unte
the past pro
y Project, Br
o (70% earn
option on t h
here is an e
rty. High gra
mately 10 km
tematic expl
sted gold f a
ducing Lupin
ritish Colum
n-in)
he 229 km 2
estimated 6 0
ade gold min
m x 10 km a
oration (Fig
avourable sit
n and Home
mbia
Savant Lak
0 km in stri k
neralization
area represe
ure 2). Ge o
tes (fold hin
estake mines
ke Project in
ke length o f
at surface a
enting a distr
ologic mapp
nges) in iron
s.
Ontario fro
f prospectiv
and in histori
rict scale opp
ing and mag
formation;
m Capella M
e gold bea r
ical diamond
portunity in a
gnetic data
important st
Minerals
ring iron
d drilling
a region
suggest
tructural
In the fall o
zones of f o
product of t
targeting w
reinterpreta
for early sp
Figure 2. S
of 2020 Eth
olding and
this survey
work. Comp r
ation is ongo
ring 2021 to
Savant Lake
os conduct e
structure w i
provided mu
rehensive h i
oing. A mapp
o finalize drill
e Project, On
ed a high-r e
ithin the ir o
uch greater
istorical dat
ping and sam
targeting to
ntario
esolution air
on formatio n
detail than
a compilati o
mpling progr
o be followed
rborne mag n
n prospecti v
any previou
on along w i
ram to groun
d by an initia
netic surve y
ve for gold
us survey gr
ith geologic
nd truth targ
al drill campa
y aimed at m
mineralizatio
eatly facilita
al and geo p
get areas is p
aign later in
mapping
on. The
ating the
physical
planned
2021.
Schefferville, Quebec (100% owned)
The Schefferville gold project covers approximately 400 km 2 of gold bearing iron-formation centered
on a structural corridor characterized by faulted and sheared units within the Lilois Paragneiss
Complex. The project features numerous high-grade Au in rock samples, over 40 Au prospects with
documented coordinates, grading > 1 g/t Au to 40 g /t Au. Very limited historic drilling has yielded
intervals including 18.1 g/t Au over 0.7m, 5.83 g /t Au over 3.1m, and 1.05 g/t over 12.55m. Ethos
conducted a low altitude helicopter airborne magnetic survey in the fall of 2020. The results of this
have provided very high resolution mapping of the iron formation and will be invaluable in
combination with other geologic data to vectoring in on target areas. Work to compile significant
historic geological data, interpret historic and the new geophysical data, and analyze all of this
information to generate targets is ongoing and has yielded some very encouraging initial results. A
ground truthing program of mapping and sampling if planned for the spring of 2021. A drill program
for later in 2021 will be assessed based on the results of the field work.
Toogood, Newfoundland (100% earn-in)
Toogood Gold Project lies at the northeast extent of the Exploits Subzone (Dunnage Zone) of Central
Newfoundland, approximately 100 km north of New Found Gold’s Queensway gold project (TSX-V:
NFG). Ethos consolidated the 115 km2 Toogood Gold Project through four, 100% earn-in agreements
covering a large area of prospective lithology with multiple high-grade gold occurrences over 28 km
of strike. Limited historic work including by Noranda in the 1980’s to mid-1990’s identified at least
nine occurrences with visible gold in bedrock over a structural corridor of more than 5 km (Figure 3).
Gold mineralization is present in veining and stockwork fracturing with significant quartz, sulfides, and
visible gold. Reported high-grade assays from grab samples included 346 g/t, 245 g/t, 127 g/t and
99.7 g/t gold. Five gold prospects were identified in 2002 by Candente Resource Corp. (the Hank,
Homer, Barney, Piranha, and Kelp prospects) where grab samples returned gold assays including
99.2 g/t, 104.3 g/t, and 127 g/t, 3.1 g/t, 3.5 g/t, 7.5g/t, 9.1 g/t, and 10.4 g/t 2. The veining occurs the
high level of orogenic style depositional environment, filling brittle fracturing of the host rocks. Both
coarse and fine visible gold are present, with some locations demonstrating both larger gold particles
in the plus 2 mm range (see photos in Figure 4), but also significant coincident finer gold recoverable
by panning.
Historical data compilation and analysis is ongoing with a mapping and sampling program planned
for the spring of 2021 with the intention of conducting initial drill testing in the later summer and fall of
this year.
Figure 3. T
Toogood Pro
operty, New
wfoundland.
.
Figure 4. Ph
Note that the p
the Deep Cov
hotos of visi
photos above a
ve or Virgin Arm
ble gold in q
are of selected
m properties.
quartz veinin
d showings and
ng and stock
d are not neces
kwork at the
ssarily represe
Deep Cove
ntative of the m
property
mineralization h
hosted on
Iron Point, Nevada (50% earn-in)
Iron Point is a Lower Plate hosted Carlin-style gold ta rget, located 22 miles east of Winnemucca,
Nevada. The project sits at the intersection of the Battle Mountain and Getchell Gold Trends, with a
total gold endowment of nearly 200 million ounces , and home to several world-class gold mines
including Twin Creeks, Getchell/Turquoise Ridge, and Marigold. Ethos is earning a 50% interest from
Victory Metals Inc. (TSX-V: VMX), by spending $5 million over five years.
A strong north-south gold-in-soil, arsenic, mercury and antimony anomaly occurs along at least 5km
of a north-south striking deep-seated range front fault. Extensive anomalous gold mineralization at
Iron Point in shallow Upper Plate stratigraphy is well documented from multiple previous drill
programs targeting shallow potentially surface mineable targets. Only a hand full of holes have been
drilled deep enough at Iron Point however to penetrate into the Lower Plate. A deep core hole drilled
by Ethos in 2019 successfully penetrated the Roberts Mountain Thrust (“RMT”) into Lower Plate
(“LP”) stratigraphy at a depth of approximately 422 m (1385 ft) where a significant zone of lithology
and alteration typical of Carlin-type systems was observed throughout the Lower Plate section to end
of hole (710m). The bottom 5.8m of this hole graded 0.17 g/t Au. Remarkably, the Lowe Plate at Iron
Point remains largely untested by drilling and we believe represents a major opportunity to discover a
Carlin-type gold system through deeper drilling.
Under the supervision of Dr. Quinton Hennigh and including Lewis Teal, M.Sc., B.Sc. (a member of
Newmont’s original Carlin discovery team and a recognized expert in Carlin-type gold deposits),
Ethos has recently completed new CSAMT, drone magnetics, and gravity surveys (see Figure 5
below), and is undertaking a major compilation, digitization, and 3D modelling of a very large amount
of historic and recent Iron Point exploration data. This work will be utilized to develop and refine
targeting of Lower late hosted Carlin-type gold at Iron Point. Preliminary analysis has revealed some
compelling target areas including areas where Lower Plate stratigraphy may be uplifted to shallower
depths. Several months of additional work is anticipated to complete this major targeting effort.
Drilling of select targets is planned to commence in mid to late 2021.