Ethos Gold Corp. (ECC:TSX.V; ETHOF:OTCQX) began initial drilling at the Iron Point property in Nevada, it announced in a news release. This comes only one month after the firm signed an earn-in agreement with the owner, Victory Metals.
Drilling, supervised by Dr. Quinton Hennigh, will primarily target the Carlin-type gold mineralization hosted in lower plate stratigraphy below the Roberts Mountain Thrust Fault. In all, four holes will be drilled over 3,200 meters (3,200m) to test the 5 kilometer long gold target there.
Three of the four holes will be reverse circulation holes drilled to depths of about 300m then deepened with a core rig to roughly 850m. Holes 1 and 2 will test the central portion of the target, and hole 3 will test the northern area.
The fourth hole, just added to the original three-hole plan, will be a core hole extending from surface to a depth of about 600m. It will test the southern extension of the target.
"I am very happy to have this opportunity to test what is perhaps one of the best remaining Carlin-style gold targets left in Nevada," Hennigh, technical adviser to the company, said in the release.
By spending CA$5 million on exploration at Iron Point over three years, including at least CA$1 million in the first year, Ethos may earn a 50% interest in the gold rights there.[NLINSERT]
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