Ethos Capital Corp. Commences Drilling at Corrales and Santa Teresa
June 10 2010 - 11:18AM
Marketwired
Ethos Capital Corp. (the "Company" or "Ethos") (TSX VENTURE: ECC)
is pleased to report that the necessary permitting has been
approved by government agencies, and the Company is proceeding to
carry out its proposed drilling programs at the Corrales and Santa
Teresa properties in northern Mexico.
A contract has been let for the percussion drilling program at
Corrales and is scheduled to begin on June 11, 2010. Approximately
40 shallow (25 meters) air-track holes are planned and the program
should be completed in approximately 3 weeks. Coinciding with the
drill program, a soil gas survey is planned for the
overburden-covered area peripheral to the presently exposed
mineralized zone. These programs are designed to test the depth and
on-strike potential of the known mineralization.
At the Santa Teresa property, three 500 meter core holes are
planned to test the San Jose zone. Surface and underground mapping
has indicated that this area has the best potential for the
discovery of higher grades as well as multiple, parallel,
mineralized zones. Access roads and drill platforms are presently
being constructed and three bids have been solicited from
contractors. The start-up date is projected to be around July 1,
2010. Concurrent with the drilling at the San Jose zone, a program
of underground mapping and sampling will be completed on the La
Florida zone. Samples of mineralized material from La Florida
workings are currently being examined by Dr. Peter Lecouteur,
consulting mineralogist, and a detailed report is expected
shortly.
This news release has been prepared by James M. Dawson, P.Eng.,
a qualified person as defined by National Instrument 43-101. Mr.
Dawson supervises the exploration work conducted at both the
Corrales and Santa Teresa properties.
On behalf of the board,
Gary Freeman, President & CEO
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 drill 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. Factors that could cause future results to differ
materially from those anticipated in these forward-looking
statements include, the Company's inability to satisfy the Exchange
that the proposed Qualifying Transaction meets the requirements to
support a Tier 2 mining issuer, 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. Gary Freeman 604-682-4750 Ethos
Capital Corp. Andy Hay 604-682-4750 www.ethoscapitalcorp.com
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