Sign up Australia
Proactive Investors - Run By Investors For Investors

Otis Gold ticks higher as it's encouraged by Kilgore drill results

The main aim was to follow-up on previous open-ended drill intercepts in the Aspen formation.
Otis Gold ticks higher as it's encouraged by Kilgore drill results
An Otis Gold worker

Shares in Otis Gold Corp (CVE:OOO) ticked almost 5% higher as it unveiled encouraging assays from the first three holes of this year's drilling at the  Kilgore project in Idaho.

The main aim of the work was to follow-up on previous open-ended drill intercepts in the prospective Aspen formation.

The results showed all three holes hitting mineralisation and expanding the potential resource at Aspen.

Highlight results included 129.4 metres (m) at a grade of 1.66 grams per tonne (g/t) gold, which included 24.4 m at 3.45 g/t in one hole.

Another hole showed 73.1 m grading 1.13 g/t gold.

Drilling will be completed in October this year and results will be made public as  they come.

"We are very pleased with the first three drill holes of our 2017 campaign," Otis president and chief executive Craig Lindsay told investors.

"The drilling has successfully confirmed and expanded gold mineralization in the Aspen Formation, a primary focus of current drilling.

"Also, and although early in our assessment of the Aspen unit, we are very encouraged to observe enriched grades of gold."

Previous drilling in 2015 and 2016 defined numerous intervals of significant thicknesses and grades at Aspen that remain open-ended at depth and laterally throughout much of the deposit.

The Kilgore project already hosts an NI 43-101 indicated resource of 520,000 ounces of gold in 27.4mln tonnes at a grade of 0.59 g/t gold.

The inferred resource is 300,000 ounces in 20.2mln tonnes at a grade of 0.46 g/t of gold.

Otis shares in Toronto gained 4.84% to C$0.32.

 

View full OOO profile View Profile

Otis Gold Corp Timeline

Related Articles

1526980503_Scotgold---Richard-Gray-at-Tyndrum.jpg
May 22 2018
New money allows Scotgold to proceed with long-awaited redevelopment of Cononish
1520338767_shutterstock_130308137.jpg
March 07 2018
Viscount Mining is sitting on two highly prospective gold projects in the USA
miner
February 20 2018
South Korea is the most supportive jurisdiction Bluebird's team has operated

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use