Drake's planning a mixtape with Rick Ross

For Drake, "Y.O.L.O." -- or "You Only Live Once" -- isn't just one of his favorite mottos, it is possibly the name of his next mixtape...

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From XXL.

For Drake, “Y.O.L.O.” — or “You Only Live Once” — isn’t just one of his favorite mottos, it is possibly the name of his next mixtape.

On Friday (November 4) in New York, Drake revealed to XXL that the much talked about joint album with Lil Wayne is on the back burner, possibly for good, but he and Rick Ross have been exchanging ideas for a duet mixtape.

“I have been working on a mixtape with Ross,” Drake said. “A mixtape called Y.O.L.O. [That means] ‘You Only Live Once’. I’ve been working on that for the last couple of weeks. We haven’t really connected because he’s been going through this thing with his health. I’ve been stashing my little beats and verses.”

Drake says there is no release date for the tape as of yet and if it were up to him, the project will drop without a lot of pre-hype or warning; he wants to make it a surprise for the fans.

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