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Home > News > Ethos Options Fairchild...

Ethos Options Fairchild Lake Gold Project; provides update on Toogood Earn-In Agreements

Feb 4, 2021


Ethos Gold Corp. has entered into an earn-in agreement under which Ethos may earn a 100% interest in the 2,228 hectare (22.28 km2) Fairchild Lake claim block located 65 km northeast of Sioux Lookout. 

Highlights

  • The property covers a 15km long segment of the regionally significant Kashawogama Lake Shear Zone (KLSZ).
  • Previous government mapping initiatives describe the KLSZ as a brittle - ductile high strain zone that separates granitoid rocks in the north from mafic volcanic and sedimentary rocks in the south.
  • Coarse conglomerate rock units are noted within the core of the shear zones and the Ethos technical team has tentatively interpreted these units as "Timiskaming-like" in appearance, thereby reinforcing the KLSZ as a potentially important structure for hosting gold mineralization.
  • This is the diagnostic structural setting for orogenic (vein hosted) gold deposits that occur in the Superior Province of Ontario and elsewhere. 

Stated Jo Price, P.Geo., M.Sc., VP Exploration of Ethos: "The Fairchild Lake property represents a potentially over-looked setting for gold in northwest Ontario with no previous reports of gold exploration despite occurrences of positive hydrothermal alteration minerals along the core of the shear zone noted by government mappers. The structural setting and district scale of the property provide favorable conditions for a significant orogenic gold discovery. This property adds to and complements our Superior Province portfolio that also includes the Savant Lake, Campbell Lake and Fuchsite Lake projects. There will be significant technical and operational synergies in our exploration programs across these projects. We are looking forward to kicking off our 2021 fieldwork on this portfolio in the early spring with the intention of developing drill targets for late summer/fall of this year." 

Planned Work Program

Ongoing desktop research reviews of available data is currently being completed by the Ethos technical team and priority structural and stratigraphic targets are being generated for field follow-up in the spring of 2021. The initial field program will consist of ground truthing of priority targets as well as comprehensive prospecting along the length of the Kashawagama Lake Shear Zone in hopes of generating trench and drill targets for Q4 2021.



Tags: Northern Ontario / Exploration / Gold / All Articles