Otis Receives New 5-Year Exploration Permit at Kilgore

Otis Receives New 5-Year Exploration Permit at Kilgore

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.

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Results for 12 Drill Holes Confirm Increased Presence of Gold at Kilgore

Results for 12 Drill Holes Confirm Increased Presence of Gold at Kilgore

We are pleased to share our latest drilling intercepts at the Kilgore Gold Project, in Clark County, Idaho. These results represent the final 12 holes of the 10,300-meter, 40-hole drill program completed in November 2016. Analytical results for the 12 drill holes reported in today’s press release, along with those for the initial 28 holes reported in 2016 (September 26October 31, and November 29), confirm the presence of significant gold mineralization in the Aspen Formation sedimentary host rocks, the primary target of last year’s drill program.

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A Remarkable Year for Gold Mining Projects

A Remarkable Year for Gold Mining Projects

We are pleased to outline below this year's news and accomplishments. Activity and interest in the junior gold exploration and development sector increased significantly during the year, driven by a rising gold price between January and July. This stronger gold value combined with extremely encouraging results from our 2015 drill program, positioned us well to advance our flagship asset, the Kilgore Gold Project. In this process, we realized a number of significant milestones.

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How Otis is Increasing The Size and Grade of its Kilgore Resource

How Otis is Increasing The Size and Grade of its Kilgore Resource

As you may already know if you are following our regular press releases, we are actively pursuing a 10.000 meter, 40 hole drilling program with an average thickness of the deposit at about 50 meters and an average grade of 0.6 grams per tonne.

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