Early but promising results for Ethos

The first trenching results are in from Ethos Capital‘s (ECC-V) Mascot Creek gold zone in the Yukon, and they are promising.

The first line of testing dug 52 trench pits over 270 metres, with highlight assays coming from nine samples averaging 7.3 grams gold over 50 metres.

Along the second line, 64 trench pits covered 370 metres. The highlight assays there came from six samples averaging 2.9 grams gold over 45 metres.

In mid Novemeber Ethos released results from three more trenches including 0.9 gram gold over 27 metres, 0.5 gram gold over 11 metres and 7 grams gold over 5 metres in the third, fourth and fifth lines, respectively.

The samples were collected from a 2-metre depth and trenches were spaced 5 metres to 10 metres apart.

Ethos has received results from 11,225 soil samples at Betty, with 7,017 soil samples collected from Mascot. 

Fred Leigh, Ethos’ head of investor relations says the trench results indicate there are gold mineralized bedrock sources for the gold-soil anomalies.

 Leigh says that labs are backlogged by the activity in the Yukon and results delayed are taking more time than anticipated. The company is waiting to receive the results from last soil analyses and more pit-trench samples from the Betty trenches, which Leigh expects to be in before early next year.

 Once the results are received, Ethos will lay out its plan to drill test Mascot Creek at the beginning of the 2012 field season.

While an exploration budget for next year has yet to be released, the company has $14.5 million in the bank and is in a good position to table an aggressive drill plan. 

Mascot Creek is part of the company’s Betty property, which is 20 km east along strike of Kaminak Gold‘s (KAM-V) Coffee discovery in the White Gold district.

Gold mineralization at Coffee is associated with a regional-scale, structural corridor known as the Coffee fault. The fault is defined by an east-to-west-trending topographic and magnetic lineament that transects the Betty property right around the Mascot zone.

The company has a large land position in the White Gold district, with 5,089 claims covering a 1,063-sq.-km area. Betty alone covers 179 sq. km.