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Otis Gold begins fieldwork at Oakley project

Last updated: 03:30 08 Jun 2017 AEST, First published: 22:30 07 Jun 2017 AEST

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Otis is targeting classic epithermal hot-spring-type gold with three main targets - Blue Hill Creek, Matrix Creek and Cold Creek.

Otis Gold Corp (CVE:OOO, OTC:OGLDF) told investors it has kicked off fieldwork at its Oakley project in Cassia county, Idaho, ahead of potential drilling.

With the property, Otis is targeting classic epithermal hot-spring-type gold  with three main targets -  Blue Hill Creek, Matrix Creek and Cold Creek.

The phase 1 program consists of geologic mapping and surface sampling at emerging target Matrix Creek.

Previous work here by the firm identified a silver-gold system on the western flank of the Albion metamorphic core complex believed to be several miles long.

In 2015, 14 rock-chip samples from a large, prominent outcrop produced an average of 70.4 grams per tonne (g/t) silver and 0.55 g/t gold believed to be part of a large mineralized detachment system.

Preliminary 48-hour bottle-roll results suggested that the gold is up to 82% recoverable and silver is up to 93%.

The current program of work consists of 1,350 soil and rock-chip samples and around 40 stream sediment samples in a bid to develop a first-phase drill program for Matrix Creek.

The firm also wants to conduct a broader geophysical program to help better define exploration targets at Blue Hill Creek, Matrix Creek and Cold Creek, and potentially new targets that may require the expansion of the company's land position.

Oakley has district-sized potential for gold and silver mineralization, but has received only limited drilling in the past.

An NI 43-101 technical report from last August on the Blue Hill Creek and Matrix Creek targets, included an inferred resource of 163,000 ounces of gold in 9.97mln tonnes at 0.51 grams per ton (g/t) gold.

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