VANCOUVER, British Columbia, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Ethos Gold Corp. (“Ethos” or the “Company”) (ECC.V) (ETHOF) is pleased to announce progress at its Pine Pass and Ursula vanadium projects in in north-eastern British Columbia approximately 70 kilometers west of Chetwynd, and 200 kilometers north of Prince George.
Assays from initial soil, stream sediment and rock sampling programs completed in early August 2018 on both projects have now been received. A total of 410 soil samples were assayed with results ranging from trace up to a maximum of 5,700 ppm V (1.02% V2O5). Additionally 80 rock samples were assayed with results ranging from trace to up to a maximum of 3,540 ppm V (0.63% V2O5). An additional 21 stream and silt sample assays ranged from trace to up to a maximum of 1,510 ppm V (0.27% V2O5).
Pine Pass Vanadium Project
The Pine Pass sediment hosted vanadium property contains one or more mineralized horizons within a shallowly NW plunging syncline. The fold nose of the vanadiferous horizon is exposed in road cuts along the John Hart Highway where a semi-continuous section of mineralized rock is exposed over a +100 meter wide section.
First pass exploration in July/August (Phase 1) focused on tracing the mineralized zone(s) along strike to the NW. The program was successful in tracing the mineralized horizons for approximately 10 km. A second exploration program is now underway (Phase 2) and will include detailed soil sampling, trenching, rock sampling and geological mapping. To date the program has delineated the mineralized horizons on the east and west limbs of the syncline. Work will continue at least until early October or as weather permits.
Based on these results Ethos has now increased its claim area at Pine Pass to 3,752 Ha to cover additional prospective areas.
Ursula Vanadium Project
At the Ursula property, Phase 1 soil, rock and stream sediment sampling outlined similar strata-bound, sediment hosted vanadium mineralization. Utilizing these results, current Phase 2 work at Ursula includes soil and stream sediment sampling as well as trenching, sampling and geological mapping. The goal of this work is to outline the dimensions of the vanadiferous horizon(s).
Based on these results Ethos has now increased its claim area at Ursula to 3,564 Ha to cover additional prospective areas.
Phase 2 Work Program
Ethos has allocated a budget of approximately C$270,000 for the Phase 2 work at Pine Pass and Ursula. Should ground conditions remain favorable, it is expected that up to 5,000m of soil sampling transects and 600m of hand trenching will be conducted in Phase 2. Phase 2 results are expected to help delineate targets for trenching and/or diamond drilling in subsequent exploration work.
QA/QC, Qualified Person, and Contact
All samples were delivered to ALS Chemex in North Vancouver, British Columbia for analysis of select elements by ICP-MS analysis using 4 acid-digestion. Quality control entailed ALS Chemex inserted blanks and standards into the sample stream. Reported standard and blank assay values were within an acceptable margin of error. Analysis of trench samples as part of Phase 2 work program includes insertion of company standards and blanks in addition to ALS Chemex inserted reference materials.
Work at Pine Pass and Ursula is being supervised by Jo Price, M.Sc., MBA, P.Geo who has been retained by Ethos on a consulting basis. 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 the Company’s website, www.ethosgold.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 statements regarding future exploration plans on the Pine Pass and Ursula projects. 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.