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Ethos Gold (TSX-V: ECC)(OTC: ETHOF) CEO Alex Heath on Drilling in Newfoundland and Multiple District Scale Gold & Copper Projects
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of Ethos Gold, Mr. Alex Heath. Alex, how are you today?
Alex Heath: I'm doing great. How are you, Gerardo?
Gerardo Del Real: I am well, thank you for asking. You had some news that kind of stood out to me a bit. Let me read the headline and then I'll let you provide the context and I'll explain why it stood out. The news, the headline reads, GoldSpot Discoveries Engaged by Ethos Gold to Apply AI Exploration Technologies at the Toogood Project in Newfoundland. Now, it's interesting to me, because of course, New Found Gold is a company that went from cents to many dollars. And some of that success has to be a result of the work that GoldSpot was able to do and help with the identification of targets. It seems like Ethos, which already has an ongoing drilling program with Perk-Rocky, and I want to get an update there, is looking to kind of duplicate that. And I know I spoke with Craig Roberts the other day and he was excited about the projects, the position. You've had a lot of news recently, I'll let you fill in the blanks on all of that.
Alex Heath: Excellent. Yeah. I'll start with GoldSpot. You're right, they partnered with New Found Gold when it was in the cents. I think they got involved at 40 cents when it was a private company and they applied there. They're a technology services company, so they have machine learning techniques that they've developed to come up with high priority targets, but on New Found, they knocked it out of the park. It was the very first hole that they drilled after vectoring in using their technology. And they hit 19 meters of 93ish grams per tonne. That's the kind of thing that we want to try and leverage. We've got our geological team, obviously they're brilliant minds. We've got a number of PhDs on our team, but it's always great to work with guys who've had success. This is perfect. They've had success in Newfoundland. It's orogenic type deposit. That's what we're looking for. It's high grade. That's exactly what we're looking for. It's a perfect match for what we're trying to achieve.
Gerardo Del Real: Fantastic.
Alex Heath: And just, I'll talk about a little bit on Perk-Rocky as well. Drilling was initiated earlier in the month and things are going pretty well. We'll continue advancing that. Assays will take a number of weeks. But before that happens, we're looking at the core and we're doing our own evaluations and figuring out what the next steps are, whether it's try to get another drill, expand the drilling or do we switch gears? That's kind of where we're at. We don't have results just yet, but we're very much anticipating that very shortly.
Gerardo Del Real: Well you're well cashed up. You recently closed a $1.33 million private placement with Crescat Capital. You also increased your landholdings in Newfoundland to 118 square kilometers. Explain the motivation behind that. Obviously there's been a big, big area land rush. There's several companies that say they have robust land positions. And there are several companies that say they have quality land positions. And if anybody knows the area, we know that some of that is true and some of that isn't. I want to ask about you increasing the landholdings there and just how you feel about the property block now.
Alex Heath: Yeah, no, I feel good about it. This was a missing piece of the puzzle for us. We've accumulated, we had a 115 square kilometers, so this was just a little piece, but it was very strategic. It was located sort of near to our Virgin Arm property that we had within Toogood. But it wasn't connected. This last little bit here that we were able to acquire, which allows us right ahead of engaging GoldSpot to start doing work, hey, let's acquire this land and we'll add it to the whole portfolio so that when we do our analysis, we've got the data on that piece of property as well. It kind of holds it all together.
Gerardo Del Real: Wonderful. Walk me through as if you didn't have enough going on, walk me through what the rest of the year is going to look like, because it's an exciting, exciting second half of this year.
Alex Heath: Yeah, absolutely. We've already started drilling at Perk-Rocky and so that'll continue and then we'll get some results from assay's in the coming weeks. At Toogood, we've already gotten on the ground so we'll be doing some preliminary legwork with the field crews. They're going to be looking for outcrops, high grade gold, visible gold. And then we've engaged GoldSpot. They'll be doing some analysis. We're also going to be doing Worldview-3, which we've talked about before with companies like K2 Gold and with ValOre and that's multi-spectral satellite imagery. It'll allow us to view the entire 118 square kilometers in one image. And then we can through that multi-spectral analysis, we can look for areas that will have known gold mineralization and compare it to areas that have that same signature. It allows us to do a lot of work in a very short period of time. And that's another thing that GoldSpot will be doing for us.
In Schefferville, we'll be getting on the ground there in the coming weeks as well, doing our first field season there, coming up with some good drill targets. We've already got high grade gold on surface between two grams and a 170 plus grams per tonne, with an area where we have an iron hosted mineralization for 60 kilometers long. A very big target. And in Ontario, same thing, get our crews doing the first field season. We don't know if we'll be able to drill Ontario this year. We're going to try obviously, but it's looking like we'll be able to drill in Quebec and in Newfoundland at some point in 2021.
Gerardo Del Real: It's a lot to like Alex. Anything else to add to that?
Alex Heath: No, I think that's a lot on our plate, but like you said, we're cashed up and we've got a great team. We've got this complimentary work that GoldSpot's going to be doing with us to help us. It's about efficiency. Making sure that we can come up with some great targets so that when we go and drill, we have the maximized potential for a high grade gold discovery.
Gerardo Del Real: And I think for people that are newer to the story and judging by the share price performance, there's a lot of people that are newer to the story, it's important to highlight that each of these projects individually are comprised of district scale land packages, right?
Alex Heath: Absolutely. I mentioned in Schefferville, we've got 60 kilometers of strike alone. And in Newfoundland it's a 118 square kilometers of property. These are all very large. You want to kind of spread your arms out in case you do make a discovery, don't want to be kind of petering onto your neighbor's property. That's kind of the idea. Each one, we're swinging for the fences. We're trying to make big discoveries and you don't do that when you have tiny little properties.
Gerardo Del Real: One home run is all it takes. You're swinging several bats for several home runs. It's going to be an exciting second half of the year. Thank you so much, Alex.
Alex Heath: All right. Thanks a lot.
Gerardo Del Real: All right. Chat soon.
Alex Heath: Cheers.Click here to see more from Ethos Gold Corp.