Otis Gold Corp. is pleased to announce the completion of its maiden Preliminary Economic Assessment (or “PEA”) at the Kilgore volcanic- and sediment-hosted epithermal gold deposit, Clark County, Idaho. The PEA utilizes the resource estimate completed in August, 2018 (see Otis news release dated September 28, 2018), and provides a robust economic scenario upon which to expand the potential scope and scale of the project with ongoing drilling. The PEA supports the potential for a low capital intensity, low operating cost, open-pit, heap-leach operation producing 112,500 ounces of gold per year over a 4.9 year mine life and generating highly attractive economics.Read More
Otis Gold Corp. is pleased to announce additional results from its recently completed 2018 exploration program at the Oakley Project (or “Oakley”), Cassia County, Idaho. Surface geochemical studies consisting of rock outcrop mapping, rock-chip sampling, and soil surveys, have identified several areas of mineralized outcrop and soils with significant gold and silver results at both the Blue Hill Creek and Emery Creek targets. Assay results from rock chip samples include gold values up to 1.75 g/t gold (or “Au”) and silver values up to 105.0 g/t silver (or “Ag”). Blue Hill Creek contains an existing Inferred Resource of 163,000 ounces gold in 9.97 million tonnes at a grade of 0.51 g/t Au (see Otis Technical Report dated August 8, 2016); Emery Creek is an early stage exploration target.Read More
Approximately 1,700 soil samples are to be collected over a 200 metre (m) x 50m spaced grid. The geochemistry block will encompass areas that were covered by 2017 reconnaissance sampling and ground magnetic surveys.Read More
The USFS issued a Decision Notice authorizing a 5-year exploration plan which, provides significant flexibility to drill on up to 140 drill sites throughout the Kilgore Project, including step-out and infill drilling at the existing Kilgore Deposit and exploration drilling at emerging targets including Gold Ridge, Prospect Ridge and Dog Bone Ridge. The Plan of Operation was approved by the United States Forest Service after completion of an Environmental Assessment, a process which included input and feedback from the local community and others.Read More
Otis Gold Corp. is pleased to announce the addition and further definition of emerging gold targets at its Kilgore Project in Clark County, Idaho. These targets were generated as a result of surface geochemical sampling and ground geophysical surveys conducted in the 2016 and 2017 exploration seasons. The geochemical program consisted of sampling and assay of soils, silts and rocks; the geophysical program consisted of property-wide ground magnetic surveys. These activities were complemented by historical Induced Polarization and CSAMT surveys.Read More
Otis Gold Corp. is pleased to announce assay results for the final nine core holes from its 25-hole, 8,000-metre drill program at the Kilgore Project in Idaho.
The primary goal of the drill program was to follow-up on open-ended drilling at depth and laterally as infill on drill intercepts from 2015 and 2016, primarily in the prospective Late Cretaceous Aspen Formation (or “Aspen”) sedimentary host unit within and along the “Aspen Corridor” (see News Releases dated February 9, 2016, and January 19, 2017). Timberline Drilling of Hayden, Idaho performed all the drilling employing two Atlas Copco CS14 core rigs.Read More