La Purisima Gold Project Update
VANCOUVER, British Columbia, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Ethos Gold Corp. (“Ethos” or the “Company”) (TSXV:ECC) (OTCQX:ETHOF) is pleased to announce progress on its La Purisima gold project in Chihuahua, Mexico.
Ethos has now completed a rock sampling stage and geologic mapping program in the historic La Purisima gold mine area concessions. Total samples across the poorly outcropping area are 591 rock chip samples of which Ethos work developed 348 rock samples. Most of these samples were taken within a rectangular area following northwest striking parallel veins along 1.7 km strike and over 500 meters corridor width. The samples collected generally range from 1.5 to 3 meters in length usually crossing vein and fracture trends. Ethos did not collect samples in this program from the historic mine site outcrops due to hundreds of prior quality samples taken in three qualified sample programs and more recent mining contamination in the mine site area.
Ethos rock samples in this program were taken mainly outside the main mine area to outline gold anomalous areas away from the historic Purisima mine site. The mine site has both underground and open pit development by the prior owners and has shown significant areas exceeding 2 g Au per tonne; examples are the two samples in the technical report by P. Craig Gibson (see the Company’s profile on sedar at www.sedar.com for the full technical report filed on July 27, 2018) from the pit contained in sample 13326 over 1 meter 11.95 g Au per tonne and in sample 13327 from 2 by 2 meter panel 2.05 g Au per tonne. From the 348 Ethos samples outside this area, 64 samples are greater than 0.1 g/t gold average 0.777 g/t. Part of these samples come from an extension of the mine’s structures northwest beyond more than 400 meters of valley within pediment covered exposures in old trenches and workings. These structures continue northwesterly and extend to intersect a rhyolite volcanic flow dome body. The flow dome is weakly gold anomalous with quartz veinlets. Geochemistry shown by samples in veins and stockwork in a parallel set of structures east of the Purisima mine contain anomalous arsenic, and mercury and barite as well as silicification of the sedimentary rock. The main mine workings are hosted in andesitic-basaltic flow units and meta-sedimentary rocks.
A set of veins southwest of the mine site show numerous anomalous thallium and cobalt samples within silicified sedimentary host rock. Thallium is commonly associated with Carlin, NV type mineralization and may indicate replacement zones of gold occurring in deeper sedimentary rock calcarious units. Several large calcite veins are present in the same area supporting the conclusion calcium carbonate has been transported from depth.
This data, combined with historic data from surface sampling, historic mine working samples, and historic drill data, have been plotted on plan maps and cross sections. Work to date indicates at least five sub parallel north-west striking mineralized veins with significant broad vein enveloping areas of gold mineralized stockwork in intervening rock between the veins. Additionally, gold mineralized vein splays and stockwork zones diverge from the primary veining, usually into northeast trends. Utilizing this data to plan drill hole locations with angled orientations to test gold content of the mineralized has been completed and permitting for a drill program is now underway. This permit will also include 500 to 700 meters of backhoe trenching planned for three to five of the cross section lines. There is thin alluvium cover over a significant part of the target areas and that trenching with sampling will be undertaken before drilling to further define the priority areas for efficient drill targeting.
Qualified Person and Contact
Mel Herdrick, a director of and consultant to the Company, is a Qualified Person as defined under National Instrument 43-101, has read and approves this release.
For additional information please contact Craig Roberts at 604-682-4750 or view the Company’s website, www.ethosgold.com.
Ethos Gold Corp.
Per: "Craig Roberts"
Craig Roberts P.Eng., Interim President & CEO
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the development and execution of a contemplated La Purisima drill program, including permit applications. 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 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 governmental clearances, necessary to carry out the Company's exploration plans, 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.
