Ethos Capital Corp. Conducts Exploration Programs at Santa Teresa and Corrales
April 26 2010 - 10:37AM
Marketwired
Ethos Capital Corp. (the "Company" or "Ethos") (TSX VENTURE: ECC)
is pleased to report that preliminary exploration programs have
been completed at its Santa Teresa and Corrales properties in
Northern Mexico.
Santa Teresa
At the Santa Teresa property, extensive surface and underground
mapping have prioritized two main exploration targets.
The San Jose Zone is at least 500 meters long and has had
limited artisanal production dating from the early 1900's, from at
least 4 sets of adits and internal shafts. Mineralization consists
of oxidized zinc-lead-copper-silver mineralization with average
grades in the area of 4-6% combined Zn-Pb, 1 to 3 oz/ton Ag with
locally significant copper and gallium (grab samples as high as 340
g/t gallium) values. The main target is a steeply dipping shear
zone or chimney hosted by a moderate to shallowly dipping
limestone/shale succession. The shear zone is locally in excess of
10 meters wide and was explored by several sets of workings over a
vertical extent of at least 75 meters. No modern exploration or
drilling has been carried out. The company intends to test this
zone by drilling three 500 meter holes below the old workings.
The La Florida Zone has been traced on surface for about 600
meters and has also been explored and had limited production from a
number of underground workings over a vertical extent of about 120
meters. Several narrow vein/shear zones of oxidized zinc-lead
mineralization are present within a permissive zone roughly 75
meters wide. The old workings targeted Zn-Pb mineralization in
steeply dipping composite veins and/or shears roughly 1.0 to 2.5
meters wide. In general, the mineralization averages 2 to 4%
combined zinc-lead with low silver values (5 to 10 g/t). However,
there is evidence of minor stringer-type mineralization between the
wider structures such that a larger, bulk-mineable scenario might
be possible. This possibility is further enhanced by the presence
of significant values in vanadium and gallium with the predominant
zinc-lead mineralization. Of the 81 samples taken from the old
workings, 31 samples returned values greater than 1000 ppm V (0.18%
V2O5) and 5 samples returned values greater than 10,000 ppm V (1.8%
V2O5). Of the 81 samples taken from the workings, 19 reported
values greater than 20 g/t gallium to a high of 161.5 g/t gallium.
The Company plans to complete a program of detailed mapping and
sampling of the underground workings to establish average grades
over the entire width of the permissive zone.
Corrales
At the Corrales property, an induced polarization/resistivity
survey was inconclusive in tracing the surface mineralization
because of the presence of conductive overburden. A number of oxide
type, zinc-lead-copper-silver occurrences are found within a zone
of alteration and bleaching in essentially flat terrain. The zone
is about 1000 meters long and between 100 to 400 meters wide and is
surrounded on three sides by large areas of shallow pediment cover.
Mineralization consists of irregular replacements and veins of
secondary zinc, lead and copper minerals which can locally be
relatively high grade (up to +10% combined lead-zinc, +1% copper
and 15 oz/ton silver). However because of the irregular nature of
the mineralization, extensive cover and the lack of information on
the geometry of the system, it is difficult to get a sense of
ultimate size potential and average grade. For this reason the
company intends to drill a pattern of shallow percussion (air
track) holes to test the continuity and grade of the
mineralization. Contingent on the success of this program, a more
extensive campaign of core drilling may be implemented.
The aforementioned potential quantities and grades have been
determined by reconnaissance mapping and sampling conducted by the
Company, and is conceptual in nature. There has been insufficient
exploration to define any mineral resources. It is uncertain if
further exploration will result in the targets being delineated as
mineral resources.
The technical data in this news release has been reviewed and
approved by James M. Dawson, P. Eng., Consultant to the Company,
who supervised the work and who is a qualified person under the
definition of National Instrument 43-101. The work was also
reviewed by Gary Belik, P.Geo., a qualified person under the
definition of National Instrument 43-101. Assays were conducted by
ALS Chemex, a company with quality control procedures in place.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking
statements", as defined in the United States Private Securities
Litigation Reform Act of 1995, and within the meaning of Canadian
securities legislation, relating to the exploration programs at the
Corrales and Santa Teresa properties. 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. The Company undertakes no
obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors,
should change, except as required by law. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include, accidents and other risks
associated with mineral exploration operations, the risk that the
Company will encounter unanticipated geological factors, 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. 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.
The TSX Venture Exchange has not reviewed or accepted
responsibility for the adequacy or accuracy of this news
release.
Contacts: Ethos Capital Corp. Andy Hay 604-682-4750
Ethos Gold (TSXV:ECC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ethos Gold (TSXV:ECC)
Historical Stock Chart
From Jul 2023 to Jul 2024