Ethos Commences Drilling on the Betty Gold Property, Yukon Territory
Vancouver, BC - May 23, 2012, Ethos Gold Corp. (the "Company" or "Ethos") (TSX-V: ECC) is pleased to announce that drilling has commenced on the Betty Gold Property, Yukon Territory. The 2012 exploration program is budgeted at $7.3 million and primarily consists of a planned 16,000 meters of drilling using two drills, and the collection of 10,000 soil samples.
Initial exploration in 2011 on the Betty Gold Property discovered the Mascot Creek gold target. The Mascot Creek target is comprised of a ~17 square kilometer gold-in-soil anomaly that yielded gold in prospecting rock grab samples up to 24.8 g/t Au (see October 6, 2011 News Release) and gold intervals in trench pits with the best result averaging 7.3 g/t Au over 50 meters (see October 27, 2011, November 15, 2011 and January 18, 2012 news releases).
Peter Tallman, COO of Ethos states, "We are excited to have drill testing on the Betty Gold Property begin. Using the reverse circulation drill rig contracted from Northspan Explorations Ltd. and with the technical assistance of Ground Truth Exploration personnel, Ethos can cost-effectively and quickly evaluate many of the high priority gold anomalies within the Mascot Creek gold target area."
2012 Drill Program
Mobilization of camp materials, fuel and equipment to the Betty Gold Property is complete. One reverse circulation ("RC") rig has commenced drilling the first of approximately 40 holes totaling 6,000 meters, with an additional diamond core rig to be mobilized to begin drilling as the 2012 program advances. The principal objective of RC drilling is to identify gold grades over width in bedrock beneath gold-bearing surface trench pits. The first 25 planned RC holes target directly beneath 25 unique gold intervals from 22 surface trench pits within the 17 square kilometer Mascot Creek anomaly area. A further 15 RC holes target high gold-in-soil values within anomalous trends that have not received trench pit tests. The diamond core rig will be used to follow up and systematically evaluate gold mineralization identified in bedrock by RC drilling.
To view a map of the drill target area, please CLICK HERE.
Peter Tallman, COO of Ethos states, "We are excited to have drill testing on the Betty Gold Property begin. Using the reverse circulation drill rig contracted from Northspan Explorations Ltd. and with the technical assistance of Ground Truth Exploration personnel, Ethos can cost-effectively and quickly evaluate many of the high priority gold anomalies within the Mascot Creek gold target area."
2012 Drill Program
Mobilization of camp materials, fuel and equipment to the Betty Gold Property is complete. One reverse circulation ("RC") rig has commenced drilling the first of approximately 40 holes totaling 6,000 meters, with an additional diamond core rig to be mobilized to begin drilling as the 2012 program advances. The principal objective of RC drilling is to identify gold grades over width in bedrock beneath gold-bearing surface trench pits. The first 25 planned RC holes target directly beneath 25 unique gold intervals from 22 surface trench pits within the 17 square kilometer Mascot Creek anomaly area. A further 15 RC holes target high gold-in-soil values within anomalous trends that have not received trench pit tests. The diamond core rig will be used to follow up and systematically evaluate gold mineralization identified in bedrock by RC drilling.
To view a map of the drill target area, please CLICK HERE.
To read the entire press release follow the link below:
May 23, 2012 (Source: Ethos Gold Corp.)
http://www.ethosgold.com/s/news.asp?ReportID=526462
Disclosure: Ethos Gold Corp. is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team hold long positions in ECC.V .
