Business
Ethos Purchases 8% of Carlin Type Holdings Ltd.
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2019) - Ethos Gold Corp. (TSXV: ECC) ...
About this update from Prospector Metals Corp
[{"type":"text","content":"Ethos Purchases 8% of Carlin Type Holdings Ltd.Vancouver, British Columbia--(Newsfile Corp. - May 30, 2019) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (\"Ethos\" or the \"Company\") is pleased to announce that it has purchased 1,650,000 common shares or approximately 8.0% of Carlin Type Holdings Ltd. (\"CTH\"). CTH is a private British Columbia corporation whose wholly owned Nevada subsidiary, Ridgeline Minerals Corporation (\"Ridgeline\"), has options to acquire a 100% interest in three highly prospective gold exploration projects in Nevada: Carlin-East, Swift, and Selena. In this seed financing, CTH raised gross proceeds of C$1.5 million. Post seed financing and after share issuances required for closing of the option agreements, CTH will have approximately 20.6 million shares issued, or a C$2.7 million capitalization at the $0.12 private placement price. Overview of CTH / Ridgeline ProjectsTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/1564/45153_05698e3054457a76_002full.jpgCarlin East is a 6.5 square mile underexplored core land position on the Carlin Trend that is on-trend of Newmont's Leeville-Turf (15Moz. Au) mine and adjacent to Barrick's Goldstrike (50+ Moz. Au) complex. The primary ore controlling structures of the Leeville-Turf mine extend onto the Carlin-East property and coincide with a pronounced gravity geophysics high. A conceptual Carlin-type exploration target has been defined within this structural corridor and Ridgeline is in the process of completing additional geophysics, sampling, mapping, and historic data review prior to an initial drill test of this high priority target.Swift is a 10.8 square mile core land position on the Battle Mountain-Eureka Trend. The property is directly on trend of the Cortez district which includes the Pipeline (21 Moz. Au), Cortez Hills (15 Moz. Au), and Goldrush (15+ Moz. Au) mines. The property exhibits altered upper plate rocks with anomalous gold mineralization as well as Carlin-Type pathfinder elements. Historic drilling did not test the highly prospective Goat anticline target but did define a reasonable depth to Lower Plate stratigraphy of 1,900-2,200 ft. and yielded multiple drill intervals with highly anomalous Carlin-Type Au mineralization.Selena is a 10.0 square mile early stage Carlin-Type Au exploration project lo...