Ethos Provides Perk-Rocky Copper-Gold Porphyry Exploration Update
Ethos Provides Perk-Rocky Copper-Gold
Porphyry Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2021) -
Ethos Gold
Corp.
(TSXV:
ECC
)
(
OTCQB:
ETHOF
)
(
FSE:
1ET
) ("
Ethos
" or the "
Company
") is pleased to
announce drill results from the Company's first reconnaissance, wide-spaced drill program at the Perk-
Rocky Copper-Gold Porphyry Project ("Perk-Rocky") 200 kilometres west of Williams Lake. Perk-Rocky
contains an extensive 8 by 5-kilometer highly prospective porphyry-style alteration footprint that contains
widespread copper sulphides at surface and may be related to one or more porphyry centers.
This
program is the first time the property has ever been drill-tested.
Highlights of Perk-Rocky Copper-Gold Porphyry Project
Six widely spaced diamond drill holes totaling 2,050 m across three target areas were completed.
The drill holes cover an east-west span of approximately 6 km, with hole lengths ranging from 235
to 437 m (Table 1, Figure 1).
Drilling focused on three target areas identified during previous sampling and mapping programs
and characterized by prospective surface alteration, anomalous Cu and Au in grab samples (at
surface) and coincident geophysical anomalies (Figure 1).
Five of the six holes contain intense alteration and intervals of anomalous Cu (above 100 ppm)
with PK21-01 returning 113.87 ppm Cu over 27.83m, PK21-02 returning 121.34 ppm Cu over
33.60m, PK21-04 returning 134.54 ppm Cu over 25.60m, PK21-05 returning 113.23 ppm Cu over
137.25 m and 119.82 ppm Cu over 26.26m, and PK21-06 returning 120.36 ppm Cu over 36.67
and 126.94 ppm Cu over 9.63m (Table 2).
Shortwave Infrared (SWIR) analysis identified alteration minerals including abundant pyrophyllite
and topaz, consistent with an advanced argillic (AA) assemblage.
The advanced argillic zones are
nested within domains dominated by quartz-sericite± illite-pyrite (QSP).
All QSP and AA alteration
is surrounded by more distal chlorite-albite-epidote-magnetite-pyrite altered rock.
Low grade or
barren QSP and AA alteration zones are typically present in the upper parts of porphyry Cu-Au
deposits.
Follow-up work to focus on re-interpretation of geophysical datasets incorporating the new drill
hole information.
Stated Dr. Alan Wainwright, Technical Advisor:
"We are encouraged by the strong textural destruction
and alteration styles encountered to depth in the first-pass drill holes at Perk-Rocky.
The new datasets
from the drilling will constrain our upcoming geological work and mineralization vectors within this
large system."
Figure 1. 2021 DDH locations with copper in rocks/talus and target areas at the Perk-Rocky Project
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1564/97950_1d587d0474ce9998_002full.jpg
Table 1. 2021 Perk-Rocky Diamond Drill Holes
Hole ID
Target
UTM Easting
UTM Northing
UTM Elevation
Azimuth
Dip
Length
PK21-01
Briton
356690
5740528
2242.0
0
-60
371.0
PK21-02
Briton
356690
5740524
2241.5
180
-65
235.0
PK21-03
East IP
359298
5741192
2011.5
15
-65
282.0
PK21-04
East - PIN 2
360064
5741169
1993.5
0
-60
309.0
PK21-05
Chilco Cu
354178
5739330
2346.5
348
-61
415.0
PK21-06
Briton
356725
5740333
2212.4
220
-70
437.7
Table 2. Weighted Cu intervals for PK21-01 through PK21-06
Hole ID
From (m)
To (m)
Interval (m)
Cu ppm
PK21-01
11.62
39.45
27.83
113.9
and
101.85
115.10
13.25
108.7
and
148.05
185.05
10.00
183.2
inc
157.50
158.05
0.55
1180.0
and
180.80
190.85
10.05
165.6
PK21-02
11.00
25.00
14.00
170.0
and
76.60
110.20
33.60
121.3
and
158.48
180.60
22.12
112.8
PK21-03
11.00
42.30
31.30
88.9
and
231.65
232.08
0.43
581.0
PK21-04
133.00
158.60
25.60
134.5
PK21-05
37.00
174.25
137.25
113.2
inc
79.55
81.00
1.45
586.0
and
180.95
353.58
172.63
92.2
inc
180.95
190.60
9.65
113.5
inc
327.32
353.58
26.26
119.8
PK21-06
7.00
34.00
27.00
104.2
and
150.50
187.17
36.67
120.4
and
200.00
389.00
189.00
70.3
inc
217.12
257.00
39.88
97.9
inc
259.24
268.87
9.63
126.9
*True widths are unknown.
PK21-01
PK21-01, located near the head of Chromium Creek, approximately 100 m south of the Briton hematite
showing, intersected moderate to strong advanced argillic (pyrophyllite-topaz-dickite-tourmaline-pyrite-
hematite) alteration from 5.6 m (start of core) to 101.9 m where the altered zone is in fault contact with
fresher, chlorite-epidote altered volcaniclastic rocks of the Upper Triassic Mosley Formation. The
advanced argillic alteration is consistent through this interval except where cut by post-alteration mafic
dykes or sills. The hole stayed in variably chlorite-epidote altered volcanic flows and volcaniclastic rocks
to termination.
Significant Cu and Au results are summarized in Table 1; however, the strongest Cu
results of 1180 pm (157.5 - 158.1 m) and 762 ppm Cu (185.3- 185.8 m) are associated with narrow
quartz-carbonate-epidote veins located in the less altered volcanic rocks.
PK21-02
PK21-02 was collared from the same setup as PK21-01 and drilled to the south at -65° and to a depth of
235 m. The hole intersected the same moderate to strong advanced argillic alteration assemblage to a
depth of 172 m. However, modest alteration comprising carbonate- kaolinite-chlorite dominated from 8
m to 50 m and truncated by mafic dykes or sills from approximately 98 m to 150 m. The alteration is in
fault contact with less altered, chlorite-epidote altered Upper Triassic Mosley Formation volcaniclastic
rocks at approximately 178 m which persist to the bottom of the hole. Anomalous Cu results include 170
ppm Cu between 11-25 m and is associated with limonitic, sheared volcanic rocks.
PK21-03
PK21-03 was collared 2.7 km east-northeast of PK21-01 and drilled to the north to cut an untested,
historic IP chargeability anomaly. From top of the hole to approximately 109 m, the hole intersected
strongly broken and sheared, sericite-pyrite altered volcanic rocks with a zone of moderate advanced
argillic (pyrophyllite-dickite-tourmaline-pyrite) alteration from 36 m to 48 m. The historic chargeability
anomaly is believed to be caused by the strongly pyritic rocks above 109 m. Significant Cu in this hole is
581 ppm from 231.65 m to 232.08 m in a bleached and sheared mafic dyke. A 2 m sample from 22.4 m
in gouged, sheared volcanic rocks assayed 121 g/t Ag with no other associated metals except 180 ppm
Cu. The highest Mo value from the project to date (120 ppm) was returned from 9 m to 11 m in broken,
quartz-veined volcanic rocks.
PK21-04
PK21-04 is located 765 m east of PK21-03 and was drilled to the north to a depth of 309 m to test an
area of copper-bearing float samples (proximal to the PIN 2 showing) and to test the depth of
widespread phyllic alteration. From the top of the hole to approximately 104 m, the drill hole intersected a
sequence of weakly chlorite-clay-carbonate-pyrite altered volcaniclastic rocks (Mosley Formation).
The
core is moderately to strongly fractured and sheared from 104 m to approximately 220 m with moderate
to strong sericite-clay-chlorite-pyrite alteration. Within this interval, from 154 m to 172 m, is a zone of
moderate to strong advanced argillic alteration (pyrophyllite-topaz-kaolinite-dickite-pyrite). The bottom of
the hole (220 m to 309 m) is more competent, green and maroon Mosley Formation volcaniclastic units.
Significant anomalous Cu was intersected between 133 and 158.60 m returning 135 ppm Cu in sericite-
pyrite altered volcanic rocks.
PK21-05
PK21-05 is located 2.8 km west-southwest of PK21-01 and was drilled to the north to a depth of 415 m
to test copper mineralization identified in 2020 along the nearby ridge crest. The hole intersected a
meta-diorite from 23.6 m to 89 m and generally weakly altered, competent hornfelsed volcaniclastic
rocks from 89 m to 158 m. From 158 m to approximately 199 m, the core is strongly sheared and
fractured within a fault zone. From 199 m to the end of the hole at 415 m, the core is more competent,
chlorite-epidote altered hornfelsed volcanic units which are locally bleached. Two significant samples
occur within the meta-diorite: 1.62 g/t Au (with 1.69 g/t Te) from 62 m to 63.15 m and 586 Cu from 79.55
m to 81 m. The gold value is associated with some quartz veining at the margin of porphyritic dyke and
the copper value with a narrow zone of silicification.
Additional anomalous Cu intervals occur between
37-174.25 m and 327.32-353.58 m returning 113 and 120 ppm Cu respectively.
PK21-06
PK21-06 was collared 200 m south of PK21-01 and drill to the southwest at -70° to a depth of 437.7 m.
The hole was planned to test the advanced argillic alteration identified in PK21-01 and 02 and to better
delineate the geology. PK21-06 intersected moderate to strong advanced argillic alteration (pyrophyllite-
topaz-kaolinite-tourmaline-pyrite) from surface to a down-hole depth of 178 m. The advanced argillic
alteration is locally strongly sheared and foliated with up to 20% pyrite and is cut by a post-alteration
mafic dyke or sill from 32.2 m to 47.9 m. From 178 m to approximately 291 m the rock is still strongly
sheared but alteration is mainly weaker kaolinite-sericite-carbonate-pyrite and volcaniclastic textures are
locally visible.
From 291 m to the end of hole at 437.7 m the hole is more competent green to greenish-
grey, weakly chlorite-epidote altered volcaniclastic rocks of the Upper Triassic Mosley Formation.
Anomalous Cu intervals occur between 150.50-187.17 m and 259.24-268.87 m returning 120 and 127
ppm Cu respectively.
Next Steps
The targeting campaign by Ethos going forward includes additional evaluation of geochemical and
alteration data as well as re-interpretation of geophysical datasets in light of the new drill hole
contributions to the model.
Logging, geochemical and spectral SWIR analysis of the drill core suggest several key geological
interpretations that require follow up:
The variety of alteration assemblages defined in the drill core suggest differing erosion levels at
Perk-Rocky.
The dimensions of the alteration footprint have been extended significantly to depth.
Pyrophyllite
was encountered in all drill holes except PK21-05.
The QSP + AA footprint now measures
approximately 5,000 m by 600 m by >200 m while the AA alteration within the QSP has been
identified over an area approximately 3,500 m by 600 m by 200 m vertically.
Pyrophyllite was
encountered in all drill holes except PK21-05.
The QSP and AA altered geological units occur within moderate south dipping panels which are
bound by low-angle faults.
Overview of Perk-Rocky
Ethos is earning a 100% interest in Perk-Rocky, a copper-gold porphyry target located in South-Central
BC, largely within Upper Triassic volcaniclastic rocks assigned to the Stikine Terrane.
In 2019 and 2020,
the Company completed mapping and sampling programs confirming a large, telescoped porphyry Cu-
Au mineralized system over an 8 km x 5 km alteration footprint (Figure 1).
Extensive copper-gold
mineralization coincides with geophysical signatures suggestive of multiple porphyry centers within a
large alteration halo.
Further analysis and rigorous reinterpretation of the Ethos VTEM survey conducted
in 2019 contributed to the identification of robust drill targets.
In addition, the presence of reactive mafic
to intermediate host rocks, porphyry dikes, extensive copper mineralisation at surface with intense
alteration, development of stockwork-style veins locally suggest a large, strong, telescoped Cu-Au
porphyry system may be centred at Perk-Rocky.
QA/QC Procedures
NQ size core was sampled over approximately two metre intervals. All core samples were sent to ALS
Canada Ltd. (ALS) in Kamloops, BC for preparation and analysis. ALS meets all requirements of
International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Samples
were analyzed using ALS's Fire Assay 30g ICP-AES method (Au-ICP21) and by a 48-element four acid
digest ICP-MS analysis (ME-ICP61). In addition to ALS Laboratory quality assurance / quality control
(QA/QC) protocols, Ethos implements an internal QA/QC program that includes the insertion of sample
blanks, duplicates and standards into the sample stream.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo.,
M.Sc., VP Exploration of Ethos, and a Qualified Person as defined under National Instrument 43-101
("NI 43-101").
About Ethos Gold Corp.
Ethos Gold, a Discovery Group company, has accumulated a portfolio of district-scale projects in British
Columbia, Ontario, Quebec, and Newfoundland that we believe have large scale discovery potential.
Ethos engages proactively with Indigenous rightsholders and seeks to develop relationships and
agreements that are mutually beneficial.
The Company has a solid technical team led by Dr. Rob
Carpenter, formerly the CEO of Kaminak Gold Corporation.
Rob led the Kaminak team from initial listing
in 2005 through acquisition and discovery of the multiple-million-ounce Coffee Gold Project. In Ethos, he
has assembled a senior geologic team with a strong record of discovery success including Dr. Robert
Brozdowski, P.Geo., Dan MacNeil, M.Sc., P. Geo., Dr. Alan Wainwright, P.Geo., Jodie Gibson, M.Sc.,
P.Geo., and Dr. Quinton Hennigh, an economic geologist with 25 years of exploration experience
formerly with Homestake Mining Company, Newcrest Mining and Newmont Mining Corp.
With working
capital of approximately C$8.5 million, the Company is well funded to advance its projects.
Ethos Gold Corp.
Per: "
Alex Heath
"
Alex Heath, CFA, President and CEO
For further information about Ethos Gold Corp. or this news release, please visit our website at
ethosgold.com
or contact Alex Heath at 604-354-2491 or by email at
.
Ethos Gold Corp. is a proud member of Discovery Group. For more information please visit:
discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements within the meaning of Canadian
securities legislation, including, but not limited to, statements regarding the Company's plans with
respect to the Company's projects and the timing related thereto, the merits of the Company's projects,
the Company's objectives, plans and strategies, the Private Placements, and other project opportunities.
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,", "strategy",
"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 the
risk of accidents and other risks associated with mineral exploration operations, the risk that the
Company will encounter unanticipated geological factors, or the possibility that the Company may not be
able to secure permitting and other agency or governmental clearances, necessary to carry out the
Company's exploration plans, risks and uncertainties related to the COVID-19 pandemic, risks and
uncertainties related to the Company's ability to complete the Private Placements and the size of the
Private Placements, and the risk of political uncertainties and regulatory or legal changes in the
jurisdictions where the Company carries on its business 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/97950