21:47:50 EDT Tue 15 Oct 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Ethos Gold Corp
Symbol C : ECC
Shares Issued 56,685,381
Close 2019-09-17 C$ 0.225
Recent Sedar Documents

Vior, Ethos plan drill program at Ligneris in Oct.

2019-09-18 09:25 ET - News Release

See News Release (C-VIO) Societe D'exploration Miniere Vior Inc

Mr. Mark Fedosiewich reports

VIOR AND ETHOS DEFINE MULTIPLE NEW DRILL TARGETS AT THE LIGNERIS GOLD PROJECT, ABITIBI, QUEBEC - PREPARE FOR A MINIMUM 6,000M FALL 2019 DRILL PROGRAM

Societe D'exploration Miniere Vior Inc., in partnership with Ethos Gold Corp., have generated multiple new drill targets based on the recently completed comprehensive field program at their Ligneris project, located 110 kilometres (km) north of Val d'Or, Que. The project has easy access through paved and all-weather logging roads. Basic services are available from the village of Taschereau located 35 km to the south.

Overview

Ligneris lies within the prolific Abitibi greenstone belt and has a major hydrothermal footprint identified by two main zones of approximately 200 to 300 metres thick and more than 1.8 kilometres long, suggesting a large and deep seated mineralized system. The property is also transected by a three-kilometre-wide fault zone, comparable with other major faults in the Abitibi that host multimillion-ounce gold deposits. The mineralization at Ligneris is interpreted as an Archean-age, gold-rich volcanic massive sulphide (VMS) system, geologically analogous to Agnico Eagle's flagship Bousquet/LaRonde complex located 80 km south (approximately nine million ounces (oz) of production since 1988, plus current reserves, as reported on the Agnico Eagle website). Highlights include:

  • Previous work by Vior (1985 to 1986), Placer Dome (1987 to 1990) and Barrick (1997) included 204 drill holes (approximately 40,000 metres), mostly clustered around identified mineralized zones (the North, Central and South zones) on the project.
  • Seventy-five of these 204 holes crosscut significant gold and/or zinc intercepts. Historical drill intercepts included 10.6 metres (m) at 13.5 grams per tonne (g/t) gold (Au) and 2.9 m at 62.0 g/t Au in the South zone and 1.45 m at 216 g/t silver (Ag) and 2.79 per cent zinc (Zn) in the Central zone.
  • Only seven holes reached over 300 metres in depth. In comparison, current exploration at LaRonde extends to approximately 3,500 metres depth.
  • Previous Ligneris drilling was done without the benefit of modern, deeper penetrating geophysics. In late 2018, Vior completed a 717-line-kilometre helicopter-borne VTEM geophysical survey (see Vior Feb. 28, 2019, news release) and Vior and Ethos have now completed a 125-line-kilometre gradient induced polarization (IP) geophysical survey.
  • The recent gradient IP survey was carried out by Abitibi Geophysique and three-dimensional inversion processing of the data by MB Geosolution has outlined significant new chargeability anomalies in the lateral and depth extensions of the existing mineralized zones.
  • Specifically, this three-dimensional inversion processing of the gradient IP data indicates a significant increase of the chargeability to a depth of 450 metres that appears correlated to some historic shallow gold intersections. These new deep chargeability anomalies represent first-priority drill targets.
  • Some of the target areas generated by the gradient IP survey cover a strike of over one kilometre.
  • A new structural study at Ligneris has also recently been completed by Vior and Ethos, including a comprehensive field structural mapping program.
  • InnovExplo, a Val d'Or-based consulting firm was retained to incorporate all of the historic and current exploration work into a comprehensive GIS database.
  • InnovExplo then utilized Leapfrog three-dimensional software to model and correlate all historic and recent data into a three dimensional model to generate drill targets.
  • Based on this analysis, InnovExplo has recommended 27 core holes to test approximately 13 separate target zones, including 11 priority 1 (P1) holes.
  • The gradient IP survey has also defined several new shallower depth chargeability targets spread over a seven-kilometre strike length in the rhyodacitic and andesitic volcanic rock package on the property, some of which are in the lateral extensions of known mineralization associated to strong alteration zones in ankerite and sericite. These new combined geological and geophysical targets have not previously been drill tested.
  • A survey totalling 27 glacial till samples, conducted in early summer 2019 by IOS Services Geoscientifiques, returned standardized counts on 10-kilogra samples ranging from 101 to 610 gold grains down ice from the South and Central zones. This survey has defined a new drill target area located in the western extension of the Central zone, which corresponds to a gradient IP chargeability target and a 118-gold grain count in the down-ice direction.

Vior and Ethos are currently refining their drill hole targets in preparation for a minimum 6,000-metre drill program to begin at the end of October, 2019.

Expansion of the Ligneris property

Based on the Ligneris work program to date, Ethos and Vior have been granted or have applied for an additional 57 claims (27.7 square kilometres) covering additional areas now considered prospective for further target development. If all these additional claims are granted, the Ligneris project area will have increased from 94 claims covering 36.2 square kilometres to 151 claims covering 63.9 square kilometres.

Summary

Work at Ligneris is being supervised by Marc L'Heureux, professional geoscientist, master of applied science, Vior's vice-president of exploration, whose experience includes approximately five years working in the Bousquet-LaRonde complex. Mr. L'Heureux stated: "The new gradient IP survey processed in combination with the historical geochemical, geological and geophysical data represents a valuable tool for detecting massive and disseminated gold-rich mineralization of volcanogenic type as found in the Bousquet-LaRonde camp. We are looking forward to commencing drilling at the end of October to test the multiple targets that have been defined by this work".

Mark Fedosiewich, president and chief executive officer of Vior, stated: "We are excited to be working towards commencing a significant drill program to test these high-priority targets. We have benefited greatly from the substantial historic work, including over 200 drill holes, from extensive modern geophysical surveys, from the expertise of InnovExplo in consolidating and analyzing all the data, and from the experience of our team in exploring these types of targets and in operating in the Abitibi region of Quebec. Ligneris has excellent access and we are working in a prolific world renowned gold mining region with highly experienced exploration and mine development personnel and excellent support infrastructure. We will report when drilling begins and when drill results become available."

Ligneris option agreement

Ethos can earn a 51-per-cent interest in the Ligneris project by paying Vior one million in Ethos shares and incurring $3-million in expenditures over the first four years of the agreement. Following an earn-in to 51 per cent, Ethos will have 60 days to elect to earn a further 19-per-cent interest (to a total 70-per-cent interest) by spending an additional $4-million over the subsequent three years.

Qualified person

Marc L'Heureux, professional geoscientist, master of applied science, vice-president of exploration of the company and a qualified person as defined under National Instrument 43-101 has reviewed and approved this release. The technical content disclosed in this press release was also reviewed and approved by Jo Price, professional geoscientist, master of science, who is Ethos's qualified person as per NI 43-101.

About Societe D'exploration Miniere Vior Inc.

Vior is a junior mining exploration company based in Quebec whose corporate strategy is to generate, explore and develop high-quality projects in proven and favourable mining jurisdictions in North America. Its projects and investments are currently located in top-ranked Quebec (No. 4) and Nevada (No. 1).

© 2019 Canjex Publishing Ltd. All rights reserved.