Ethos Provides Update on Fuchsite Lake Gold Project
Suite 1430 – 800 West Pender Street, Vancouver, BC V6C 2V6
Ethos Provides Update on Fuchsite Lake Gold Project
Vancouver, BC – October 15 th , 2020, Ethos Gold Corp. (“ Ethos ” or the “ Company ”) (TSXV:ECC )
(OTCQB: ETHOF ) is pleased to report results of a high resolution airborne magnetic survey recently
completed at the Fuchsite Gold Project, located in Northwestern Ontario, Canada. Cross River
Ventures Corp. (CSE: CRVC) is earning into a 60% interest in the F uchsite Lake project (see Ethos
September 8, 2020 news release).
Highlights
• The survey is the first recorded exploration work i n the Archean rocks at Fuchsite Lake
since the early 1980’s.
• The program consisted of a 522 line-kilometer, high resolution airborne magnetic survey
over key outcrop/alteration trends of ultramafic komatiite and banded iron formation.
• The survey successfully defined and extended a key structural zone associated with the
priority Lette Prospect, where anomalous Au-Cu-Zn-P b has been reported from quartz-
carbonate breccia/fault zones.
• The east-northeast trending mineralization at Lette occurs within a 4 km long “magnetic
low” corridor defined by the survey which is interp reted to be an extension of the
mineralizing fault system.
• Additional structures have also been identified acr oss the property including the newly
identified D’Alton Lake Shear Zone. This northeast trending zone separates two distinct
magnetic domains, both underlain by mafic volcanic rocks. Several historical sulphide zones
are reported along this trend that are accompanied by highly strained and sheared mafic
and ultramafic rocks.
• The program was successful in demonstrating large, structurally controlled target corridors
coincident with significant gold and base metal occurrences.
The next stage of work will comprise prospecting and ground truthing of these high priority targets
in the spring of 2021, including detailed sampling, geological mapping and additional geophysical
surveys if warranted, with the intention of generating drill targets by mid-2021.
Lette Prospect Area
The Lette Prospect consists of gold plus base metal mineralization (copper, zinc, lead) hosted in an
outcropping, east-northeast trending fault breccia. Historic work indicated that this fault breccia
varies from 10 m to 25 m in width, is at least 80 m long, and may continue along trend under sandy
overburden. The new airborne magnetic data reveals the zone is hosted in an extensive (at least 4
km long) linear magnetic low domain, suggesting the mineralized fault breccia may extend across
the entire width of the current Fuchsite Lake claim block.
The Lette zone was discovered in 1956 and consists of disseminated chalcopyrite, sphalerite and
galena in silicified fractures and hydrothermal bre ccia. Abundant quartz-sulphide veins are also
described within the steeply southeast dipping poss ibly tabular zone (Ontario Assessment Report
#52I10SW 0013).
Geologists from the Ontario Government visited the site in 1980 and sampled two surface
outcrop sites 75 m apart and these returned values of 1.7 g/t Au and 1.4 g/t Au (OGS Report 251).
Five short drill holes were then completed in 1981 (99 m total). The mineralized structure was
intersected in every hole, but no assays are report ed. No further work has been reported on the
claims since 1981.
The Lette Prospect represents an underexplored zone of extensive hydrothermal alteration
accompanied by reported precious metal values hoste d in a “fault breccia”. The newly acquired
airborne magnetic data suggests the larger structur e that hosts this “fault breccia” zone may
extend for at least 4 km thereby expanding the pote ntial mineralized target at Lette within this
corridor.
Survey Specifications
A high-definition helicopter-borne magnetometer surv ey was completed over the entire 3,744-
hectare Fuchsite Lake claim block. Geo Data Soluti ons Inc (GDS), of Laval, Quebec collected the
data on October 7 th and 8 th , 2020, utilizing their helicopter stinger-mounted magnetometer. The
GDS system supported a high-sensitivity Geometrics cesium G-822A sensor, which was housed in a
nose stinger, and attached to the belly of an A-sta r 350D model helicopter. In total, 530 line-
kilometers of detailed total magnetic field data we re collected on 75 meter north-south spaced
production lines, with 500 meter spaced east-west c ontrol lines, and draped the terrain at a
nominal sensor height of 35 meters above ground level. Data were collected at approximately 144
kilometers per hour, and at a 10 hertz sampling rat e, this resulted in a measurement every 4.0
meters along the flightpath.
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 NI 43-
101 (“NI 43-101”).
Rob Carpenter, Ph.D., P.Geo. a Qualified Person (QP) as defined by National Instrument 43-101 has
provided geological interpretation of previous work reports and the newly acquired airborne
magnetic data for the Fuchsite claim block.
Contact
For additional information please contact Tom Martin at E: [email protected] P: 1-250-516-
2455 or view the Company’s website, www.ethosgold.com .and the Company’s SEDAR profile at
www.sedar.com .
Ethos Gold Corp.
Per: " Craig Roberts "
Craig Roberts, P.Eng., President & CEO
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. Although the Company be lieves that such statements are reasonable, it can give no
assurance that such expectations will prove to be c orrect. Forward-looking statements are statements t hat are not
historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," "projects," "aims," "potent ial," "goal," "objective," "prospective," and simil ar expressions, or
that events or conditions "will," "would," "may," " can," "could" or "should" occur, or are those state ments, which, by
their nature, refer to future events. The Company c autions that Forward-looking statements are based o n the beliefs,
estimates and opinions of the Company's management on the date the statements are made and they involv e a
number of risks and uncertainties. Consequently, th ere 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 law s and the policies of the TSX Venture Exchange, the Company
undertakes no obligation to update these forward-lo oking statements if management's beliefs, estimates or opinions,
or other factors, should change. Factors that could cause future results to differ materially from tho se anticipated in
these forward-looking statements include the risk o f accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounte r unanticipated geological factors, or the possibil ity that the
Company may not be able to secure permitting and ot her agency or governmental clearances, necessary to carry out
the Company's exploration plans, risks and uncertai nties related to the COVID-19 pandemic, 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 rep orts, publicly
available through the Canadian Securities Administr ators' 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.