Archive for August, 2011

KAMINAK DRILLS HIGH-GRADE GOLD AT SUPREMO T3 ZONE

Kaminak Gold Corp. has released assay results from 31 reverse circulation drill holes from the Supremo T3 zone, located on the company’s 150,000-acre Coffee gold property in the Yukon. The Supremo zone consists of at least 7 north-south trending gold-bearing structural zones (T1 to T7) which are co-incident with a well defined 2km by 2km gold-in-soil anomaly. The T3 structure has been traced for at least 600m and remains open along trend and to depth.

Key Results

 

CFR-27 - 11.6 g/t Au over 9.1m (from   CFR-45 - 2.1 g/t Au over 27.4m (from
18.3m)                                 110.3m)                             
CFR-31 - 3.0 g/t Au over 13.7m (from   CFR-46 - 4.3 g/t Au over 13.7m (from
41.2m)                                 surface)                            
CFR-33A - 2.5 g/t Au over 19.8m        CFR-50 - 19.9 g/t Au over 6.1m (from
(from 94.5m)                           8.2m)                               
CFR-34 - 9.8 g/t Au over 4.6m (from    CFR-51 - 7.9 g/t Au over 12.2m (from
21.3m)                                 46.9m)                              
CFR-35 - 13.5 g/t Au over 15.2m        CFR-52 - 10.7 g/t Au over 6.1m (from
(from 30.5m)                           87.5m)                              
CFR-36 - 8.7 g/t Au over 9.2m (from    CFR-53 - 8.2 g/t Au over 18.3m (from
50.3m)                                 117m)

 

Key Points

 

--  RC drilling at Supremo successfully defines continuous high-grade,
    near-surface and oxidized gold within moderately plunging zones of the
    T3 structure. 

--  Future drilling will focus on extending the T3 structure south of
    section 4325N where the last four consecutive holes yielded 19.9 grams
    per tonne gold (g/t Au) over 6.1m; 7.9 g/t Au over 12.2m; 10.7 g/t Au
    over 6.1m and 8.2 g/t Au over 18.3m down to 175m vertical. 

--  New drilling also scheduled for T1 and T2 structures. Diamond drilling
    at T2 in 2010 yielded 3.73 g/t Au over 16m which remains open along
    trend. The T1 structure comprises a well-defined gold-in-soil trend
    that remains untested. 

--  Gold-in-soil data and geophysical / structural interpretations suggest
    the Supremo gold-bearing structures extend towards the Connector and
    Latte gold zones, and northwards towards the Macchiato / Cappuccino
    Zones, for a possible potential strike length in excess of 2.5
    kilometres.

 

Drill Summary

A total of 31 RC holes were drilled along 25m and 50m spaced sections of the T3 structure. All holes were drilled on a 270 degree azimuth (west facing) angled between 50 and 70 degrees. The T3 Zone is characterized by steep east -dipping, oxidized gold mineralization varying in true width from 5m to 30m. Overall, the results confirm the lateral and vertical continuity of the T3 structure along trend. Notably, holes from the most southerly section 4325N consistently returned strong mineralized intervals down-dip to approximately 175m vertical, including 19.9 grams per tonne gold (g/t Au) over 6.1m (CFR-50); 7.9 g/t Au over 12.2m (CFR-51); 10.7 g/t Au over 6.1m (CFR-52) and 8.2 g/t Au over 18.3m (CFR-53). This significant zone of high grade mineralization remains open to the south along strike and at depth.

On cross-section the T3 structure consistently maps as a steep, east-dipping structure comprised of hydrothermally altered felsic gneiss carrying abundant sericite, clay and pyrite. An initial longitudinal section has also been constructed along the trace of the T3 structure and interpretations suggest high-grade intercepts may be controlled by a moderate south plunge. These observations have helped focus the 2011 drill plan and provide priority drill targets. All maps, sections and assay sheets are currently available on the Kaminak website, www.kaminak.com.

 

Table 1 - Complete Assay Table                                             

---------------------------------------------------------------------------
                                                                   Weighted
Drill                  From              To        Interval           grade
Hole #                   (m)             (m)          (m)(i)        (g/t Au)
---------------------------------------------------------------------------
CFR-022               22.86           30.48            7.62            2.64
---------------------------------------------------------------------------
CFR-023               70.71           79.86            9.15            1.77
---------------------------------------------------------------------------
CFR-024               47.24           53.34             6.1            3.28
---------------------------------------------------------------------------
CFR-25A               80.77           83.82            3.05            1.06
---------------------------------------------------------------------------
CFR-027               18.29           27.43            9.14           11.61
---------------------------------------------------------------------------
Incl.                 24.38           25.91            1.53            58.7
---------------------------------------------------------------------------
and                    38.1           45.72            7.62            1.54
---------------------------------------------------------------------------
CFR-028               71.63            76.2            4.57            3.29
---------------------------------------------------------------------------
CFR-029              135.64          141.73            6.09            1.57
---------------------------------------------------------------------------
CFR-030              143.26          147.83            4.57            1.19
---------------------------------------------------------------------------
CFR-031               41.15           54.86           13.71            3.01
---------------------------------------------------------------------------
and                   65.53           68.58            3.05            3.54
---------------------------------------------------------------------------
CFR-032               77.72           83.82             6.1            2.26
---------------------------------------------------------------------------
CFR-033A              94.49           114.3           19.81            2.54
---------------------------------------------------------------------------
CFR-034               21.34           25.91            4.57            9.82
---------------------------------------------------------------------------
CFR-035               30.48           45.72           15.24           13.50
---------------------------------------------------------------------------
Incl.                 35.05           39.62            4.57            29.4
---------------------------------------------------------------------------
CFR-036               50.29           59.44            9.15            8.67
---------------------------------------------------------------------------
Incl.                 53.34           56.39            3.05            22.1
---------------------------------------------------------------------------
CFR-037               93.27           96.32            3.05            1.42
---------------------------------------------------------------------------
CFR-038               22.86           24.38            1.52            3.41
---------------------------------------------------------------------------
CFR-038A              24.69           26.21            1.52            2.42
---------------------------------------------------------------------------
CFR-039               24.99           31.09             6.1            2.37
---------------------------------------------------------------------------
CFR-040              167.94          169.47            1.53            2.44
---------------------------------------------------------------------------
CFR-041              148.44          166.73           18.29            0.89
---------------------------------------------------------------------------
CFR-042              125.58          128.63            3.05            2.33
---------------------------------------------------------------------------
CFR-043               60.05           61.57            1.52            5.07
---------------------------------------------------------------------------
CFR-044               93.57          121.01           27.44             1.6
---------------------------------------------------------------------------
CFR-045              110.34          137.77           27.43            2.11
---------------------------------------------------------------------------
CFR-046                   0           13.72           13.72            4.28
---------------------------------------------------------------------------
Incl.                  1.22            2.44            1.22            22.5
---------------------------------------------------------------------------
CFR-048                82.3           83.82            1.52            1.75
---------------------------------------------------------------------------
CFR-049               33.83           39.93             6.1             5.3
---------------------------------------------------------------------------
CFR-050                8.23           14.33             6.1            19.9
---------------------------------------------------------------------------
CFR-051               46.94           59.13           12.19            7.85
---------------------------------------------------------------------------
CFR-052               87.48           93.57            6.09           10.66
---------------------------------------------------------------------------
Incl.                 90.53           93.57            3.04              20
---------------------------------------------------------------------------
CFR-053                 114          167.34           53.34            3.31
---------------------------------------------------------------------------
Incl.                117.04          135.33           18.29            8.23
---------------------------------------------------------------------------
(i) True width estimated at approximately 2/3 core length. Holes CFR-025,  
    026, 33 and 047 were abandoned due to poor ground conditions /         
    mechanical issues.

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No Comments

STINA ANNOUNCES DIME EXPLORATION UPDATE AND TRENCH RESULTS

Stina Resources Ltd. has provided an update on the continuing 2011 exploration work on its Dime property in the South Klondike/White Gold district.

Drilling update

Drilling is under way and holes DDH-11-6 through DDH-11-08 have been completed for a total of 560 metres drilled to date. These holes intersected the same lithology as holes DDH-10-03 and 10-04, including silicified and pyritized vein breccias and strongly silicified and pyrite- and arsenopyrite-bearing silicified zones. Drill core is now being processed.

Trenching results

Results from trench sampling completed in July (313 five-metre-long continuous trench samples) were collected from 13 trenches over 1,565 metres total length and 35 additional samples were collected from 35-by-one-metre-deep pits. Samples consist of a representative sample of bedrock and colluviums weighing, on average, six pounds per sample. This has proven to be a very effective method of identifying areas for additional surface work or drilling in the South Klondike/White Gold district.

 

                      TRENCHING RESULTS

Trench No.            Sample       Au        Pb        Cu
and interval       length (m)    (ppb)     (ppm)     (ppm)

Tr-15, 5-80 m             75       46
Tr-15, 95-200 m            5      955
Tr-15, 280-285             5    1,050
Tr-17 pit No. 2                   508
Tr-10, 65-70 m             5      250
Tr-10, 75-80 m             5      536
Tr 10, 100-120 m          20      912
Tr-10, 100-105 m           5    1,454
Tr-10, 105-110 m           5      200
Tr-10, 110-115 m           5      323
Tr-10, 115-120 m           5    1,672     2,966      432
Tr-26, 130-135 m           5    1,035

 

Trenches 10 and 15 are located on the east anomaly and trench 26 is on the central anomaly.

Air magnetic survey results

Final airborne magnetic and total count radiometric survey data have been received from Precision GeoSurveys Inc. The total field magnetic data clearly show two parallel and very strong linear seven-kilometre-long northwest-southeast-trending magnetic low anomalies that are both offset a distance of one kilometre along a left lateral zone trending 70 degrees. Stina is still waiting to receive uranium, potassium and thorium maps from Precision. Total count radiometric has been provided, and those data also reflect the prominent northwest-southeast structures obvious in the magnetic data. Once the final data for uranium, potassium and thorium are received, Stina will report it in a subsequent news release.

This northwest-southeast structural trend, along with second and third order east-west and northeast-southwest trends, is important in the South Klondike/White Gold district. All major soil anomalies in this region are located proximal to the 70-degree offset of the northwest-southeast-trending magnetic low.

The west, central and eastern soil anomalies are all located adjacent to the left lateral offset, are within magnetic highs adjacent to the left lateral offset and are part of a 4.5-kilometre soil system identified in 2010.

The initial drill holes DDH-11-06 to DDH-11-06-08 were collared on the western anomaly at the site where DDH-10-03 and DDH-10-04 were collared in 2010. DDH-11-06 was a steeper cut on the zone located in 2010 that returned the following results last season.

 

Drill hole  From (m)    To (m)  Interval (m)     Grade  (g/t Au)

DDH-10-03      58.5     60.00           1.5                4.15 
DDH-10-04     59.90     92.00          32.0                0.71 
Including     59.50     69.50           9.6                1.10

 

Additional drill holes will be based on results of the 2011 trench sampling, soil sampling, and airborne magnetic and radiometric survey data. Initial drill results expected in September. The company expects to drill 15 to 20 core holes on Dime in 2011.

James Corrigan, president of the company, commented on this year’s exploration program: “Mr. Doherty is a consummate professional and has done a tremendous job managing our Yukon Dime project, despite weather and inherent logistical challenges of the region. Mr. Doherty has done a commendable job of bringing in highly experienced people and staying within a tight work schedule and budget throughout the 2011 season, and we are very pleased to see Stina functioning efficiently on all levels of management. We look forward in anticipation to furthering our 2011 Yukon exploration program by staying within noted prospector Shawn Ryan’s unique and successful exploration method of soil sampling, trenching, magnetic survey evaluation and drilling in an orderly manner, which has a proven track record on other Shawn Ryan properties.”

Al Doherty of Whitehorse, Yukon, is a designated qualified person acting for the company and assisted in the preparation of this news release.

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KAMINAK DRILLS 74.9 G/T AU OVER 4M AT DOUBLE DOUBLE: HIGH-GRADE GOLD ZONE OPEN ALONG TREND AND DEPTH

Kaminak Gold Corp. has released assay results from 11 diamond drill holes from the Double Double zone, located on the company’s 150,000-acre Coffee gold property, Yukon. The Double Double zone represents one of nine gold targets to be drilled in 2011 by Kaminak as part of its ongoing 40,000m drill program. Each of these zones begin at surface and remain open along trend and at depth.

Key Point Summary

 

--  CFD-90 yields 74.9 grams per tonne gold (g/t Au) over 4m starting at
    105m core length. Re-assay checks and duplicate screen-method fire assay
    sampling of this ultra high-grade interval yielded repeatable results. 
--  CFD-88 yields 25.4 g/t Au over 2m (from 43m); CFD-81 yields 8.37 g/t Au
    over 5m (from 73m); CFD-93 yields 12.15 g/t Au over 3m (from 57m); CFD-
    101 yields 14.35 g/t Au over 2m (from 29m) and CFD-104 yields 56.4 g/t
    Au over 1m (from 71m) 
--  Near-surface and high-grade gold intercepts encountered within vertical
    structural corridor traceable over 200m along trend; remains open in all
    directions. 
--  New structural interpretation suggest the Double Double zone represents
    the easterly high-grade extension of the Latte gold zone located 800m
    west

 

Drill Results

The Double Double gold zone was discovered in 2010 by drilling beneath a linear gold-in-soil trend that extends for at least 1km along a west to northwest trend which is also co-incident with a magnetic lineament traceable for several more kilometers, suggesting the gold-bearing structures at Double Double extend for several kilometers and possibly link with the Latte gold zones located 800m west. A total of 11 diamond drill holes were completed along a 200m long portion of the gold-in-soil anomaly in order to follow-up drill results from 2010 that included: 6.35 g/t Au over 35m (starting at 139m core depth) from hole CFD-27 and 15.9 g/t Au over 5m (starting at 213m core length) from hole CFD-28 (see Kaminak news releases dated August 11th, 2010 and August 24th, 2010). Complete assay sheets, plan maps and cross-sections of the 2011 drilling are now available on the Kaminak website.

Drill hole CFD-90 yielded an ultra-high-grade intercept between 105m and 109m down-hole (refer to table 1 below). An original 30g fire assay of 1/2 cut core yielded a weighted average of 69.6 g/t Au over 4m with individual assays yielding 105.5 g/t Au (105-106m), 106 g/t Au (106-107m), 62.7 g/t Au (107-108m) and 4.14 g/t Au (108-109m). In order to validate these results, an additional 1kg sample of this material was taken and screened through a 100 micron mesh and analyzed by fire assay. A third fire assay was completed by screening a 1kg sample obtained by re-cutting the remaining drill core stored on site (1/4 core sampling). Results of both screen assays yielded consistent and repeatable results averaging 74.9 g/t Au over 4m with assays averaging 120.25 g/t Au (105-106m), 98.7 g/t Au (106-107m), 76.4 g/t Au (107-108m) and 4.24 g/t Au (108-109m). Coarse gold (greater than 100 micron) accounted for only 4-7% in all samples suggesting minimal nugget effect.

 

Table 1 - Assays from 105-109m for CFD-90                                 

------------------------------------------------------------------------- 
                  1/2 core    1/2 core 1kg    1/4 core 1kg       Avg. 1kg 
Depth               30g FA       screen FA       screen FA      screen FA 
(m)                (g/t Au)        (g/t Au)        (g/t Au)       (g/t Au)
------------------------------------------------------------------------- 
105-106              105.5             105           135.5         120.25 
------------------------------------------------------------------------- 
106-107                106             109            88.4           98.7 
------------------------------------------------------------------------- 
107-108               62.7              64            88.8           76.4 
------------------------------------------------------------------------- 
108-109               4.14            4.49            3.99           4.24 
------------------------------------------------------------------------- 
(FA = fire assay)

 

Ultra-high-grade samples in drill hole CFD090 are characterized by increased breccia and intensely silicified material with no recognizable host rock. Silicified host material is overprinted by (micro) breccia as well as chalcedonic silica vein networks. Sericite is low in the samples, as the overwhelming alteration is silica; minor scorodite, fuchsite and leucoxene. The sulphide content is not unusually high for Coffee gold environments, thus the addition of silica appears to be more important to the increased gold tenor. A representative photo montage of mineralized samples is available on the Kaminak website.

Results suggest gold is hosted in a number of near-vertical to steep north-dipping zones traceable within the broader regional magnetic lineament and gold-in-soil anomaly. These high-grade gold zones are typically meter-scale in width and are recognized mainly by increased levels of hydrothermal alteration. The most consistent and traceable structure defined to date is informally known as the “North Trend” and is noted on all cross-sections drilled. For example, drilling on section 5125E intercepted the North Trend in holes CFD-88 (25.4 g/t Au over 2m) and CFD-90 (74.9 g/t Au over 4m). Moreover, section 5275E cut the North Trend in hole CFD-93 (8.23 g/t Au over 3m) and hole CFD-98 (4.32 g/t Au over 4m) and section 5075E drilled through the North Trend in hole CFD-101 (14.35 g/t Au over 2m) and hole CFD-104 (56.4 g/t Au over 1m). Deeper drilling at Double Double uncovered several parallel zones to the North Trend, including the “Central Trend”; however, since the focus of the drilling was on defining the North Trend, little is known about these deeper zones. Collectively, these observations re-affirm the high-grade and continuous nature of gold within the Double Double zone and also illustrate the importance of tracing high-angle structural corridors.

Drill Update

Over 28,000m of drilling has now been completed on the Coffee property during the 2011 season and the Company is on schedule to complete the 40,000m program as initially outlined in the spring of 2011. Three diamond drills and one reverse circulation drill (RC) are currently active on the property. Assays from Latte (50 diamond holes), Supremo (31 RC holes), and Kona (28 RC holes) are currently pending and initial results from Supremo and Latte are expected in the coming weeks. Two drills are currently operating on the Kona zone (1 diamond drill and 1 RC drill) and one diamond drill is located on Latte and Connector zones respectively.

Kaminak is also pleased to report it has begun construction of a 15km long gravel road that will connect the Coffee Camp and airstrip to the main drill areas of Latte, Connector, Double Double and Supremo. The road is expected to be completed by the end of Q3 of 2011 and will allow the Company to extend future drill seasons and reduce aircraft costs. Summer barge season is in full-swing and heavy equipment (bulldozer, loader and dump truck) have been mobilized to site in order to facilitate road construction. Three bulk fuel tanks (75,000 liter capacity each) are also on site and are currently being installed.

 

Table 2 - Complete Assay Table                                           

-------------------------------------------------------------------------
Drill                From             To       Interval    Weighted grade
Hole #                 (m)            (m)         (m)(i)          (g/t Au)
-------------------------------------------------------------------------
CFD-77                 75             77              2              5.78
-------------------------------------------------------------------------
CFD-79                162            166              4              2.27
-------------------------------------------------------------------------
and                   191            193              2              4.55
-------------------------------------------------------------------------
CFD-81                 73             78              5              8.37
-------------------------------------------------------------------------
Incl.                  77             78              1              34.3
-------------------------------------------------------------------------
CFD-83                 43             44              1             16.65
-------------------------------------------------------------------------
CFD-86                260            269              9                 1
-------------------------------------------------------------------------
CFD-88                 43             50              7              8.29
-------------------------------------------------------------------------
Incl.                  43             45              2              25.4
-------------------------------------------------------------------------
CFD-90                105            109              4              74.9
-------------------------------------------------------------------------
and                   189            191              2              5.89
-------------------------------------------------------------------------
and                   205            207              2              7.22
-------------------------------------------------------------------------
Incl.                 206            207              1             13.15
-------------------------------------------------------------------------
CFD-93                 12             15              3              8.23
-------------------------------------------------------------------------
and                    57             60              3             12.15
-------------------------------------------------------------------------
Incl.                  58             59              1              32.9
-------------------------------------------------------------------------
and                   101            107              6              5.31
-------------------------------------------------------------------------
incl                  103            104              1              27.5
-------------------------------------------------------------------------
and                   167            172              5              6.21
-------------------------------------------------------------------------
CFD-98                 16             20              4              4.32
-------------------------------------------------------------------------
and                    97            103              6                 2
-------------------------------------------------------------------------
CFD-101                29             31              2             14.35
-------------------------------------------------------------------------
CFD-104                71             72              1              56.4
-------------------------------------------------------------------------
and                   147            148              1              4.29
-------------------------------------------------------------------------
and                   225            226              1              2.69
-------------------------------------------------------------------------
(i) True width estimated at approximately 2/3 core length.

 

QA / QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

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ETHOS IDENTIFIES NEW MASCOT CREEK GOLD SOIL ANOMALY NEAR THE COFFEE FAULT, BETTY PROPERTY,WHITE GOLD DISTRICT, YUKON

Ethos Capital Corp. has gold analyses from soil samples up to 277 parts per billion gold. It also has provided an update on the continuing exploration at the Betty property located southeast along strike of Kaminak Gold Corporation’s Coffee discovery in the White Gold district, west-central Yukon Territory, Canada, and just one of the five properties that Ethos owns in the area.

Ethos is currently exploring 4,963 claims covering an area of 1,038 square kilometres in the emerging White Gold district. Ethos’s Betty property, comprising 730 claims covering 152 square kilometres, is situated immediately east of Kaminak’s Coffee property. Gold mineralization at Kaminak’s flagship Coffee property is associated with a regional-scale structural corridor termed the Coffee fault. The Coffee fault is defined by a pronounced east-west-trending topographic and magnetic lineament that transects Ethos’s Betty property. The Coffee fault and subordinate structures are the focus of Ethos’s Betty property exploration program.

A total of 3,875 reconnaissance ridge-and-spur soil samples representing 194 line kilometres of soil data have been collected. Results have now been received for 2,354 samples representing 60 per cent of the total collected at the Betty property. Remaining samples have been delivered to the analytical lab for processing.

A previously reported ridge-and-spur soil result of 597 parts per billion gold (see July 12, 2011, news release) led to the discovery of 2.1 grams per tonne gold in rock at the Buck zone (see July 25, 2011, news release). At present, the Buck zone is defined by trenching to occupy a 250-metre-by-250-metre area of alteration, as described in more detail below. The nearest adjacent ridge-and-spur soil lines are 700 metres away, also with anomalous gold and arsenic geochemistry.

Numerous other gold anomalous soil sites have now been identified. These are all in the process of being field-checked. A gold-in-soil map of results received to date has been posted on the company’s website.

New Mascot Creek soil anomaly

New results reveal significant gold-anomalous soils in the area of Mascot Creek located south of the main Coffee fault. A line of reconnaissance ridge-and-spur soils collected at 50-metre intervals above the west bank along Mascot Creek returned a continuous gold-in-soil anomaly above 10 ppb gold that is 2,500 metres long, then a 650-metre interval gap not anomalous, then an additional 650-metre-long gold-in-soil anomaly. The entire soil line ranges in value from 10 ppb, with the numeric average of 34 ppb gold, and with multiple sites above 100 ppb gold to a maximum of 277 ppb Au. Soil values above 14 ppb Au are statistically anomalous above the 95th percentile for Ethos’s soil sample database. These gold-anomalous sites are also uniformly highly anomalous in arsenic with many values above 250 ppm and six values between 505 ppm to 1,611 ppm As. These Au and As values are consistent with results reported by Kaminak from soils in proximity to gold-mineralized zones.

A second line of reconnaissance ridge-and-spur soils was collected at 50-metre intervals along the ridge top 900 metres west of the line in Mascot Creek with similar results. There is a 1,400-metre-long gold-in-soil anomaly above 10 ppb, then a 500-metre interval gap not anomalous, then an additional 450-metre-long gold-in-soil anomaly. The anomalous values begin at 10 ppb and reach a maximum of 134 ppb Au along this line, with a numeric average of 34 ppb Au. These gold-anomalous sites are also uniformly anomalous in arsenic with several values above 250 ppm As and one value of 501 ppm As.

Samples from adjacent soil lines which would help refine the geographic extent of this anomalous area are still in the lab with analytical results pending.

The Mascot Creek area is now a priority area for follow-up. Prospecting surveys have begun. Trenching of the anomalous gold-in-soil line along the ridge top is planned as soon as the backhoe completes Buck zone trenching. An additional 1,000 soil samples from a follow-up detailed soil grid are planned for collection to expand the soil coverage; this program should begin shortly.

Airborne surveying

A total of 2,406 line kilometres of magnetic and radiometric surveying of the Betty property has been completed, and preliminary results are in hand. The magnetic survey clearly images the first-order Coffee fault as well as many additional second- and tertiary-order structures. The Buck zone is shown to be an area of intersecting east-west and north-south magnetic linears interpreted as faults. The Mascot Creek area gold-anomalous soils are also associated with strong magnetic linears.

Buck zone trenching

The company has completed 1,500 metres of trenching at the Buck zone gold discovery in the immediate area of the 2.1-gram-per-tonne-gold sample site. The trenches cover approximately a 250-square-metre area and are spaced 50 metres apart. The area is confirmed to have abundant silicification, quartz veining, iron oxidation and locally relict arsenopyrite and pyrite. Prospecting the immediate area has uncovered an outcrop containing boulangerite (antimony-arsenic sulphide), stibnite (antimony sulphide) and arsenopyrite (arsenic sulphide) approximately 600 metres south of the Buck zone. The outcrop is along a north-south structure interpreted from the magnetic data extending from the Buck zone. Photographs of rock samples and trenching are available on the company’s website.

A total of 298 rock samples have been collected from the Betty property predominantly from the Buck zone trenches and the antimony-arsenic-bearing outcrop. All rock samples have been submitted as a rush order to the analytical lab.

Peter Tallman, PGeo, chief operating officer of Ethos, states, “The recognition of antimony and arsenical sulphides associated with gold mineralization and strong alteration adjacent to the Coffee fault, combined with the general level of oxidation of the host rocks, continues to compare favourably with extremely similar early results obtained by Kaminak Gold Corp., our neighbour to the west.”

Gary Freeman, chief executive officer and president of Ethos, states, “We continue to work diligently and methodically in investigating the many new gold target areas which continue to come to light and we are excited by the preliminary indications received to date.”

A comprehensive quality assurance/quality control program is in place to monitor precision and accuracy of the assay results. All soil samples are submitted with certified reference materials. Soil sample duplicates are routinely collected, and pulp duplicates are obtained for all soil samples. Ridge-and-spur soil samples are analyzed by Acme Analytical Laboratories Ltd. A 15-gram subsample of soil material is ignited, acid digested, and gold determined by ICP-MS; a 0.5-gram subsample undergoes aqua regia digestion with ICP-MS analysis for 36 reporting elements including arsenic. Analytical QA/QC programs monitoring the precision and accuracy of results includes the routine use of assaying sample duplicates, certified reference standard(s); and both assay and prep wash blanks. Acme is ISO 9001-certified.

The technical information contained within this news release has been reviewed and approved by Mr. Tallman, PGeo, chief operating officer of Ethos Capital and qualified person as defined by National Instrument 43-101 policy.

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