Once Ethos has incurred $5 million, a 50-50 joint venture will be formed between Ethos and Victory, specific to the precious metals rights. Ethos can earn a 50% interest in the precious metals rights in the 13,300 acre Iron Point property by spending a minimum of $5 million over three years, with minimum expenditures of $1 million in the first year which will include drilling of up to 3 holes targeting deep, Carlin-style gold targets.Quinton Henningh, who will oversee the drilling program at Iron Point as technical advisor to Ethos.
High priority, deep gold/silver drill targets have been proposed by Dr. VANCOUVER, /PRNewswire/ - Victory Metals (' TSX-V:VMX') (' Victory' or the ' Company') is pleased to announce that the Company has entered into an option agreement (the ' Agreement') with Ethos Gold (' TSX-V:ECC') (' Ethos'), whereby Ethos can spend $5M to earn an undivided 50% interest in the precious metals rights at the Iron Point Vanadium Project, Nevada (the ' Property').
