Vior and Ethos Gold Announce Commencement of Drilling at Their Ligneris Gold Project, Abitibi
Figure 1. Ligneris- Chargeability, VTEM and selected historic drill intercepts
The objective of this drilling program is to test the depth extensions of historical gold-bearing drill intercepts to approximately 600 meters, which coincide with well-defined geophysical chargeability anomalies. The program will also test some shallow-depth chargeability anomalies generated from the recently completed gradient induced polarization survey (Gradient IP) that are located along stike with known strongly altered structural corridors. Historical drill intercepts at Ligneris included 10.6 m @ 13.5 g/t Au and 2.9 m @ 62.0 g/t Au in the South Zone, and 1.45 m @ 216 g/t Ag and 2.79% Zn, and 5.43 m @ 4.92 g/t Au in the Central Zone. The mineralization type and geochemical signature at Ligneris is interpreted as belonging to an Archean-age, gold-rich volcanogenic massive sulphide system.
Mark Fedosiewich, President and CEO of Vior stated: "We are excited to commence this significant drill program at Ligneris to test many of the high priority deep targets developed by our independent consultant InnovExplo. Previous drilling on Ligneris, almost 30 years ago, tested only the top 300 metres from the surface and intercepted multiple significant gold intervals (see Figure 1). Many of the drill holes will now test strong chargeability anomalies identified in the recent gradient IP survey below this gold mineralization. We look forward to announcing the results from this program."
Ligneris Option Agreement
Ethos can earn a 51% interest in the Ligneris Project by paying Vior 1.0 million in Ethos shares and incurring $3.0 million in expenditures over the first four years of the agreement. Following an initial earn-in to 51%, Ethos will have 60 days to elect to earn-in a further 19% interest (to a total interest of 70% interest) by incurring an additional $4 million in project expenditures over the subsequent three years.
Marc L'Heureux, P.Geo., M.A.Sc., VP Exploration of the Company and a Qualified Person as defined under National Instrument 43-101 has reviewed and approved this release. The technical content disclosed in this press release was also reviewed and approved by Jo Price, P.Geo., M.Sc., who is Ethos' Qualified Person as per NI 43-101.
Vior is a junior mining exploration company based in Quebec whose corporate strategy is to generate, explore, and develop high quality projects in proven and favourable mining jurisdictions in North America. Their projects and investments are currently located in top ranked Quebec (#4) and Nevada (#1). Through the years, Vior's management and technical team have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.
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President and CEO
SEDAR: Société d'exploration minière Vior Inc.
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SOURCE: Vior Inc.