Ethos Gold Corp. (EXP) (Symbol: ECC on the TSX-V, ETHOF on the OTCBB listing)
The primary focus of Ethos Gold is exploration (EXP) in the Yukon and Mexico.
Shares of ECC look like they are near the bottom as the market anticipates the next rounds of stimulus in the next few weeks. This should take ECC to a much higher level as the company would be in the quality class of junior mining shares that typically move first in a recovery.
I talked with CEO Gary Freeman who explained even after current drill and assay expenses are paid the company will still have $10 million in the bank.
Thus far ECC has reported on 25 drill holes this summer and we are expecting at least another 40 holes or so before our season is through. Gary told me that the company is beginning to understand where we are in the mineralized system and what steps are needed for our program next year.
That program will most likely include drilling with a core rig next year to drill to depth and for a better geometrical idea of the resource and its potential. In addition, it sounds like further ground work and soil sampling this summer have uncovered yet another great anomaly for us to drill on the north side of the Coffee fault that runs through our Betty property. This is similar to the types of targets that Kaminak is finding on their project.
The mineralization on this northern area of the property seems to be higher in the system than the one we are currently drilling on the southern side. In any case this is exciting for ECC and for investors moving forward.
ECC is well managed and despite our tough market, will ultimately prevail with the kinds of numbers we are seeing from our flagship Yukon project and further anomalies that need to be drilled. What Ethos and Kaminak are trying to do is find higher grade lower tonnage areas that are economic along structure or tie some of these positive anomalies together for a bigger tonnage lower grade situation near surface.
The Yukon is expensive to work in but the style of exploration here can be very rewarding as more and more companies follow the model outlined by Shawn Ryan and make new discoveries. As I have mentioned before these things are going to take time, but within five years, I believe the investing public is going to be absolutely amazed by how many ounces have been uncovered in the White Gold camp of the New Yukon Gold Rush.
Companies like Ethos, and Kaminak are well poised to take things to the next level and reward investors with a much higher share price once our market recovers.
ECC is a BUY.
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