The vanadium mineralization is near surface with significant spatial separation from the conceptual deeper gold target. ![]() Victory will maintain 100% title to the Iron Point claims and on completion of its earn-in Ethos would have a contractual right to 50% of any precious metal discovery. Following the earn-in a 50-50 joint venture will be formed between Ethos and Victory. Based on the Phase 1 program expenditures Ethos has now completed the first year earn-in expenditure requirements. We look forward to further news from Ethos."Įthos can earn a 50% interest in all precious metal rights at Iron Point by spending a minimum of $5.0 million over three years, with minimum expenditures of $1.0 million in the first year. ![]() The promising stratigraphy, structure and anomalous gold results has motivated Ethos to consider and plan a Phase II drilling program. For full information on results and interpretation of the drilling, please refer to Ethos' news release dated October 2, 2019.Ĭollin Kettell, Chief Executive Officer of Victory, stated: "We are very pleased to see the successful completion of the Phase I deep drilling by Ethos Gold, our joint venture partner.
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