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Ethos Increases Newfoundland Project Holdings to 115 km(2) Covering Multiple Gold Targets Over 28 km of Strike Length
Vancouver, British Columbia--(Newsfile Corp. - December 22, 2020) - Ethos Gold Corp. (TSXV: ...
About this update from Prospector Metals Corp
[{"type":"text","content":"Ethos Increases Newfoundland Project Holdings to 115 km(2) Covering Multiple Gold Targets Over 28 km of Strike LengthVancouver, British Columbia--(Newsfile Corp. - December 22, 2020) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (\"Ethos\" or the \"Company\") is pleased to announce that it has entered into two earn-in agreements under which Ethos may earn a 100% interest in the 6,350 hectare (63.50 km2) Toogood claim group and the 1,800 hectare (18 km2) McGrath claim group located on New World Island, approximately 65 km north of Gander, Newfoundland. These projects are situated to the north-east of the Company's Deep Cove and Virgin Arm properties with good access by paved and gravel roads and trails (see Figure 1). The Deep Cove, Virgin Arm, McGrath and Toogood claims will be collectively referred to as the Toogood Project. HighlightsThe Toogood Project now covers 28 km by 8 km of prospective geology on New World Island with numerous gold occurrences identified in previous work including soil and rock chip sampling (see Ethos November 19, 2020 news release). Both coarse and fine gold mineralization are present in quartz and sulfide veining and stockwork fracturing of conglomerates and sandstones.Historic work on the Toogood and McGrath claim groups includes grab and soil sampling primarily concentrated along the shorelines. Six gold occurrences across these claims were identified by prospectors in the period 2002-2012 with reported assays including 11.18 g/t and 10.35 g/t gold from grab samples in outcrop 1,2. At least nine occurrences of visible gold in bedrock over a structural corridor of more than 5 km have been observed on the Deep Cove/Virgin Arm claim groups (Figure 1) with reported assays from grab samples including 346 g/t, 245 g/t, 127 g/t and 99.7 g/t gold (see November 19 news release). The Toogood and McGrath claim groups have less historic work but cover a continuation of the same lithologic trend and have demonstrated similar styles of high-grade gold mineralization in prior sampling.Gold mineralization on the Toogood Project appears to occur at the high level within an orogenic regime and to be associated with Devonian magmatism emplaced during a continental collision event. Significant gold mineralization occurs along this north-south collision margin extending through central Newfoundland. The Toogood Project...