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Ethos shares jump on Newfoundland property acquisitions

According to the company, limited historic work by Noranda in the 1980s to mid-1990s identified at least nine occurrences with visible gold in bedrock over a structural corridor of more than 5 km. Reported high-grade assays from grab samples included 346 g/t, 245 g/t, 127 g/t, and 99.7 g/t gold.

Midday Thursday, Ethos’ stock was up 13% on the TSXV.

“We are currently compiling and interpreting all available historic data to look forward to kicking off a significant program on the ground in the spring of 2021, with the intention of developing drill targets,” said Dr. Rob Carpenter, Chief Technical Advisor to Ethos.

“Gold mineralization appears to occur at the high level within the orogenic regime and associated with Devonian magmatism emplaced during a continental collisional event. Significant gold mineralization occurs along this north-south collision margin extending through central Newfoundland,” said Dr. Quinton Hennigh, advisor to Ethos.

Midday Thursday, Ethos’ stock was up 13% on the TSXV. The company has a C$22 million market capitalization.

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