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Otis Gold releases 2017 Oakley project exploration results, samples up to 3.0g/t Au

Last updated: 04:00 04 May 2018 AEST, First published: 23:00 03 May 2018 AEST

1525371446_Kilgore
The Oakley Project hosts gold-silver, epithermal hot spring-type mineralization at Blue Hill Creek and Cold Creek, and detachment-related gold-silver mineralisation at Matrix Creek

Otis Gold Corp. (CVE:OOO, OTC:OGLDF) has released the results of its 2017 exploration programme at the Oakley project, in Cassia county, Idaho which has revealed gold values of up to 3.0g/t gold and silver values of up to 306 g/t silver.

In a statement, the company said surface geochemical sampling has revealed significant gold- and silver-in-soil anomalies over 2 kilometres; stream sediment sampling over 3 km of drainage indicates increasing gold and silver values towards the potential source, and rock sampling of outcrops over a large area of epithermal black matrix breccia reveal gold values up to 3.0 g/t gold (Au) and silver values up to 306 g/t silver (Ag).

READ: Otis Gold has big plans for flagship Kilgore project in 2018

Otis president and CEO, Craig Lindsay said: "We are pleased with the results generated at Oakley, and we see significant potential to aggressively expand the project.

"It is uncommon to see the type of surface mineralisation discovered at Matrix Creek, in terms of both grade and strike length. We now have three well-defined exploration targets at Oakley in Blue Hill Creek, Cold Creek and Matrix Creek."

All the work report was performed at the Matrix Creek target, where black matrix breccia forms the dominant host rock and is associated with regional scale detachment structures.

Highlights of the 2017 Matrix Creek target work includes:

  • a coherent 2-km-long gold- and silver-in-soil anomaly that is coincident with a detachment structure and associated mineralised BMB body. The anomalous zone is defined by gold values up to 0.988 g/t Au and silver values up to 5.4 g/t Ag.
  • 58 rock-chip samples of BMB collected on Discovery Ridge along the brecciated detachment zone contained up to 3.0 g/t Au and up to 306 g/t Ag along 350-metres of outcrop;
  • 49 stream-sediment samples collected along 3 km of the Matrix Creek drainage, and into the area of its headwaters, exhibit Ag values ranging from 0.2 to 2.3 g/t and increase towards Discovery Ridge.
  • 34 one and half metre chip-channel rock samples of BMB collected in, and along, the Discovery Ridge target area contained intervals that include 18.0 m averaging 0.34 g/t Au and 97.7 g/t Ag, 7.9 m averaging 0.30 g/t Au and 83.3 g/t Ag, 6.7 m averaging 0.34 g/t Au and 61.4 g/t Ag, and 2.1 m averaging 1.37 g/t Au and 132 g/t Ag. These values indicate the potential for additional gold-silver targets where the detachment extends down-dip below the surface.

Oakley project

The Oakley Project is a gold-silver exploration prospect located 21 km south of Oakley, Idaho, and 3 km north of the Idaho-Utah state line along the western flank of the Albion Mountains, part of the Albion-Raft River-Grouse Creek Metamorphic Core Complex.

Oakley contains three primary targets located approximately 6 km apart, comprising the Blue Hill Creek and Matrix Creek targets located at the southern end of the project and Cold Creek target to the north.

In 2018, Otis plans to expand its land position as well as conduct further exploration, including drilling, to follow-up on the previous programmes.

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