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Corporate Overview TSX: ECC FSE: IET.F OTCQX: ETHOF - - PowerPoint PPT Presentation
Corporate Overview TSX: ECC FSE: IET.F OTCQX: ETHOF - - PowerPoint PPT Presentation
Corporate Overview TSX: ECC FSE: IET.F OTCQX: ETHOF February 2020 1 Cautions and Disclaimers This presentation is current as of Oct 29, 2019. The information contained in this presentation is provided by Ethos Gold Corp.
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Cautions and Disclaimers
This presentation is current as of Oct 29, 2019. The information contained in this presentation is provided by Ethos Gold Corp. ("Ethos" or the "Company") for informational purposes
- nly. It does not constitute investment advice, or an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of the Company. All references to Ethos are
meant to apply equally to the parent company and its subsidiaries. This presentation contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the Company's exploration plans for and resource potential of the Iron Point, Perk-Rocky and Ligneris projects, and also regarding its investment in Ridgeline Minerals Corp. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal,", "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other governmental clearances, necessary to carry out the Company's exploration plans, and the risk of political uncertainties and regulatory or legal changes in certain of the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is cautioned not to place undue reliance on forward- looking statements, and is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of the Company’s business and the risks associated with that business. This presentation does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U.S. person [as defined in Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”) (“U.S. Person”)], or in any other jurisdiction in which such an offer would be illegal. This presentation may only be disseminated or transmitted into any jurisdiction in compliance with, and subject to, applicable securities laws. Readers are required to ensure their compliance with applicable security laws.
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Current Projects
Corporate Office
Suite 1430 – 800 W. Pender St. Vancouver, BC, V6C 2V6
Perk-Rocky, BC
Copper-gold prophyry target
Iron Point, Nevada
Carlin-type gold target
Ridgeline Minerals Corp. Nevada
Carlin-type gold targets
Ligneris, Quebec
Gold rich VMS target
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Shares Net Cash Cash Post Financing
Ethos Capital Structure
Shares issued and outstanding 62.3 million
- Avg. Price
Options outstanding $0.20 5.3 million Warrants outstanding $0.30 11.8 million Diluted issued and outstanding 79.4 million ECC share price $0.13 / share Market capitalization $8.1 million Cash $3.4 million Enterprise Value $4.7 million
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Net Cash Cash Post Financing
Project Summary
Ligneris, Quebec (70% earn in): Abitibi gold-rich VMS (LaRonde type)
- Phase 1 Initial drill results completed in December (6000m) are now being received and will be released shortly.
- Phase 2 (2000 m) completed in January/February 2020
Perk Rocky, BC (100% earn in): Copper-gold porphyry
- Summer 2019 work program released in December outlined:
- Widespread “green rock” alteration suggests high level coppery porphyry environment
- 50+ New Cu showings and localized porphyry-style
- VTEM modelling indicates numerous geophysical targets
- 20 regional drill targets have been identified
- Drill permitting in place for 2020, currently being amended to include new targets
Iron Point, Nevada (50% earn in): Carlin-type gold
- A recent review by Lewis Teal, a recognized Carlin expert, has confirmed that the 2019 Ethos drilling penetrated productive
Lower Plate carbonate stratigraphy prospective for Carlin-type gold targets
- The next phase of work will include property-wide gravity and mag surveys, assay for gold of holes recently drilled by Victory
Metals targeting vanadium, and modelling and drill targeting by MDA Ridgeline Minerals Corp. (equity ownership), Nevada: Carlin-type gold
- Ethos owns 1.9 million shares of Ridgeline which is being financed privately at $0.22/share. IPO planned for mid-2020 to be
followed by drilling at their Carlin East and Swift projects for Carlin-type gold targets.
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Craig Roberts, P. Eng - President, CEO and Director Mining engineer with over 30 years of operations, consulting and investment banking experience. Mel Herdrick - Director Professional geologist with over 35 years of experience in exploration in the US and Mexico. Henk Van Alphen - Director Over 36 years in the mining business with experience as an exploration drilling contractor and president, CEO and Director of a number of public companies. Michael Murphy - Director Co-founder and director of Torex Gold Resources Inc. President and Chief Executive Officer of Global Battery Metals Ltd.
Directors Management & Advisors
Jo Price, P. Geo, MBA - VP Exploration Over 20 years experience as an exploration geologist and project manager Michelle Tanguay – VP Community and Environment Over 25 years of experience working in the resource extraction industry. Focus on First Nation consultation, permitting, coordinating and managing studies. John Robins - Advisor Professional geologist with over 30 years experience in the mining industry. Co-founder of many successful resource companies.
- Dr. Quinton Hennigh - Technical Consultant
Economic Geologist with more than 25 years of exploration experience with major gold mining firms.
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Ligneris Project, Gold-rich VMS Target, Abitibi, Quebec
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Ethos Ligneris Option Agreement to Earn 70%
- Ethos may earn an initial 51% interest in the Ligneris Project from Société d'exploration minière Vior Inc.
(“Vior”) (TSXV:VIO):
- by incurring Cdn $750,000 in expenditures per year over the first four years of the agreement
commencing June 2019 ($3.0 million in total).
- and by issuing to Vior 1.0 million Ethos common shares.
- Following an earn-in to 51%, Ethos will have 60 days to elect to earn a further 19% interest (to a total 70%
interest) by spending an additional $4 million over the subsequent three years.
- No cash is payable by Ethos to Vior.
- No royalties are payable on Ligneris and none are created through this earn-in.
Location & Access
- The Ligneris project is located 110 km north of Val-d'Or.
- Easy access through paved and all-weather logging roads.
- Basic services are available from the village of Taschereau
located 35 km to the south.
- The Ligneris project is comprised of 125 claims totalling 53
km2
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Property Overview
Ligneris is an Archean-age gold rich VMS target, with similarities to Bosquet-LaRonde. A large hydrothermal footprint includes two main zones of approximately 200 to 300 meters thick and more than 1.8 kilometers long, suggesting a sizeable and deep-seated mineralized system. The property is transected by a 3-km wide fault zone comparable to other major faults in the Abitibi that host multimillion-ounce gold deposits. Significant high-grade intercepts from historic drilling to 300 m depth
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Historic and Recent Work
- Previous work by Vior (1985-1986), Placer Dome (1987-1990) and Barrick (1997) included 204 drill holes
(approximately 40,000 meters)
- 75 of these 204 holes crosscut significant gold and/or zinc intercepts (see previous page).
- Only 7 holes reached 300 m in depth.
- Ligneris has not been drilled in over 30 years.
- Previous drilling was done without the benefit of modern, deep penetrating geophysics.
- A 717 line-km helicopter-borne VTEM survey and a 125 line-km gradient induced polarization (Gradient IP) survey
were completed in 2019.
- A new structural study at Ligneris was also completed in late 2019.
- The recently completed drilling was guided by these deep penetrating surveys and study work.
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Interest
51% within 4 years
2019 Gradient IP Survey
- The 2019 Gradient IP survey
- utlined significant new
chargeability anomalies in the lateral and depth extensions of the existing mineralized zones.
- Specifically 3D inversion processing
- f the Gradient IP data indicates a
significant increase of the chargeability to a depth of 450 meters that appears correlated to some historic shallow gold intersections.
- These new deep chargeability
anomalies defined first priority drill targets.
- Some of the target areas generated
by the Gradient-IP survey cover a strike of over one kilometer.
- InnovExplo, a Val-d’Or based
consulting firm, incorporated the historic and current exploration work into a comprehensive GIS database and used 3D modelling for drill targeting.
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Surface Alteration and Mineralization
The 2019 program included surface sampling and
- mapping. Illustrative surface alteration and
mineralisation includes:
- A) Semi-massive pyrite conduit interpreted as a syn-
volcanic vent.
- B) Semi-massive pyrite parallel to the main schistosity
(S1) and folded by late crenulation cleavage S2.
- C) Fracture-controlled pyrite stringers.
- D) Sulphides parallel to S1 schistosity and folded by
late S2 crenulation cleavage.
- Grab sample in this location (K504261) (InnovExplo)
returned 11.65 g/t Au, 131 g/t Ag, 6.21% Zn and 0.17% Cu.
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2019-2020 Drill Program
A total of 15 drill holes totalling ~8000 meters have been completed testing three types of targets:
- geological targets - (see purple ellipses). These targets include mainly the extension at depth of historical gold drill
intercepts correlated to deeper chargeability responses.
- geophysical targets - (green ellipses). These targets include new shallower strong chargeability targets mostly on
strike along mapped alteration corridors.
- 1 till target - (gold ellipse). This hole will test a resistivity target located 2 km in the up-ice direction of a till sample that
returned a gold count of 118 grains. 6000m of this program was completed by Christmas 2019. Assays pending. 2000m drilling completed in January/ February.
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Example Targets
Previous drilling tested to 250 meters depth and intercepted multiple intervals of gold mineralization. Hole 017 will test a deeper chargeability anomaly that may be correlated to this shallower gold mineralization. Hole 11 tested a new chargeability target east of the Central Zone that has not previously been drill-tested.
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2019-2020 Drilling
6000m of core drilling was completed by Christmas 2019 with assays currently pending An additional 2000m drilling peripheral targets completed in January / February 2020.
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- Marc L’Heureux, P.Geo., M.A.Sc. in geochemistry. B.Sc. in 1987. Experience includes 5 years working in the
Bosquet/LaRonde complex. Specialty: VMS, orogenic, epithermal, sediment-hosted gold, sulphide nickel, and titanium.
- Christian Blanchet, P.Geo., DESS. B.Sc. in 1993. Specialty: VMS, orogenic and sediment-hosted gold, sulphide
nickel, titanium and heavy minerals.
- InnovExplo from Val-d'Or was chosen for the lithog-eochemical study, the geological re-interpretation, the Leapfrog
3D modeling integration and the determination of drilling targets by multi-factorial analysis. InnovExplo is recognized in the Abitibi for providing expert services and cutting-edge exploration technologies to mining companies, including Agnico, Goldcorp and Iamgold.
- Marc Boivin, MB Geosolutions is a well-respected geophysicist in Quebec. He is a specialist in 3D inversion
modeling and has been involved in several major discoveries and provides ongoing service to the Agnico Eagle exploration team.
Key Quebec Operating Team and Consultants
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Iron Point, Carlin-type Gold Target, Nevada
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Interest
50% undivided interest in gold and silver rights
- The Iron Point project
comprises 13,300 acres and is located 22 miles east of Winnemucca, Nevada, within 3 miles of Interstate 80.
- The project is located at the
intersection of the Battle Mountain and Getchell Gold Trends, and on trend from several world-class gold mines including Twin Creeks, Getchell/Turquoise Ridge, and Marigold.
- Ethos can earn a 50%
undivided interest in the gold and silver rights at Iron Point property by spending CDN$ 5 million over three years.
Overview
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2019 Drilling – Hole EG-5
- EG-5 was the first deep core hole ever drilled at Iron Point
and was successful in penetrating through the Roberts Mountain Thrust (“RMT”) into Lower Plate (“LP”) stratigraphy a depth of approximately 422 m (1385 ft), continuing to its final depth of 710 m (2330 ft).
- EG-5 intersected 288 m (945 ft) interval of highly altered
LP stratigraphy.
- The LP rocks display significant degrees of
decalcification, sooty black sulfides, and silicification with significant intervals of anomalous Au up to 0.22 g/t.
- Importantly, the bottom 6 m of this hole graded 0.17 g/t Au
suggesting the system may be intensifying at depth.
- Bedding angle in the core varies from near horizontal to near
vertical, indicating a high degree of folding.
- An interval immediately above the RMT graded 17 m at
101.4 g/t Ag including 1.5 m grading 543.6 g/t Ag.
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Next Steps
- Phase 2 work will include
ground- based gravity and magnetic surveys.
- Victory Metals has now
completed an extensive vanadium resource definition drill program in Upper Plate rocks which Ethos can utilise.
- Ethos plans to conduct an
assay program on samples previously not tested for gold, mercury, arsenic, antimony and
- ther pathfinder elements.
- MDA will update their 3D model
with this new data, which will then be utilized for drill hole targeting.
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Perk-Rocky, Copper-Gold Porphyry Target, BC
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Perk-Rocky Location
PERK- ROCKY
Perk-Rocky is a porphyry copper-gold exploration project located within a 6,700 Ha claim block, approximately 225 km west of Williams Lake, British Columbia. Perk-Rocky is located in the Stikine Terrane in South Central British Columbia which hosts the famed “Golden Triangle” copper and gold deposits in the northern part of the belt including significant porphyry deposits.
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Highlights
- Potential for a large bulk tonnage porphyry Cu-Au deposit
- Potential for a high-grade gold deposit
- New copper-gold discoveries made over several kilometres
- Analogies with the El Salvador deposit
- Road Accessible, under-explored and never drilled
Perk-Rocky Option Terms
Ethos can earn a 100% interest in the Perk-Rocky Project by:
- Paying $Cdn 690,000 over 3 years, including $400,000 on 3rd anniversary ($40,000 paid to date)
- Issuing 2.9 million Ethos common shares, including 1.45 million shares on 3rd anniversary (300,000
shares paid to date)
- Incurring $350,000 in first year exploration expenditures (done)
Following earn-in to 100%, total milestone payments of US$3.85 million, the first is US$350,000 on delivery
- f a 43-101 compliant resource estimate and the final is US$2.0 million on a production decision
The vendors also retain a 3.0% NSR, which Ethos can buy down to 1.0%
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Potential
For large bulk tonnage Cu-Au deposit and high-grade gold-silver deposit
2019 Exploration Program
Field Preparation § Permitting and First Nation Engagement Ground Exploration § 3- 7 personnel; helicopter supported § Geological mapping & rock sampling § 1:5,000 to 1:10,000 level § Provincial orthophoto and Worldview sat image (both 50 cm resolution) used as base § Topographic base 5 m custom DTM § Highly experienced mappers: Steve Israel, Steve Enns; Brock Riedell (Cu porphyry mappers); Michael Cooley (Structural Mapper) § Approximately 6 by 3 km area § Talus and Stream sampling § Halo Terraspec study on 87 field rock samples § Petrographic study on selected rock samples § Assessment filing and reporting Airborne Survey § Property-wide (657 line-km) VTEM and magnetic airborne geophysical survey § Geophysical modelling & interpretation
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2019 Exploration Program Conclusions
- Widespread “green rock” alteration suggests high level environment
- Further supported by Briton advanced argillic zone and multielement anomalies (Bi-As-Sb-Cd±Ag±Au)
- Possible porphyry target postulated several 100’s metres below Briton
- 50+ New Cu showings
- Weak porphyry-style mineralization at Rya showing and to west of Perkins Peak
- Varied multi-element signatures in talus and stream sediments suggest possible multiple environments
(epithermal/skarn/porphyry)
- Best talus results (Cu/Au/Zn) on west side where no mapping
- VTEM modelling suggests numerous coincident targets
- 20 regional drill targets have been identified that test coincident anomalies, as well as CET and AIIP targets
in addition to testing surface Cu anomalies at Briton, North Cirque, Rocky West, Rya, and Pin
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- Potential for a very large bulk tonnage porphyry Cu-Au deposit with high
grade epithermal style vein gold
- Highly experienced exploration team
- Favourable “Stikine” Golden Triangle like host lithology
- Structural corridor that includes very large copper and gold deposits
- Large gossan and large alteration pattern that fits the porphyry model
- Satellite ASTER imaging and ground TerraSpec remote sensing indicating a
high-level telescoped porphyry
- 2019 exploration has greatly increased and expanded copper-gold
mineralized areas with new discoveries
- Very prominent fault and fracture hydrothermal fluid pathway system
- Regional property scale copper, gold and zoned pathfinder geochemistry
- Significant geophysical signatures
- Ground previously “tied up” for many decades and very underexplored
- Road Accessible
- Proactive First Nations engagement
- Landuse Permit Received, amendment in progress
Summary
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Suite 1430 - 800 West Pender Street Vancouver, BC Canada, V6C 2V6 Email: info@ethosgold.com Tel: 604-682-4750