Otis Gold Corp

Otis is a gold exploration company focused on developing projects which have multi-million ounce potential located in mining-friendly jurisdictions. Otis is leveraging the talents of technical team, which made up the core of the Echo Bay Mines US exploration team in the mid 1990s, to build out its property portfolio. The technical team is complimented by a management team with a strong level of experience in corporate finance and public company management. While each project is approached with the goal of ultimately putting mines into production, the exit strategy will likely be through an M&A transaction.

Kilgore Project

Overview

The Kilgore Gold Project consists of 162 federal mining claims totaling 3,250 acres located in southeastern Idaho within Clark County, 60 miles north of Idaho Falls. The project is accessible by road approximately 32 miles northeast of the town of Dubois and Interstate Highway 15.

The project targets a volcanic hosted epithermal hot spring type deposit with a current NI 43-101 compliant resource of 218,000 ounces of drill-indicated gold (7.043 million tons @ 0.031 opt Au, 0.010 Au cutoff) and 269,000 ounces of inferred gold (9.661 million tons @ 0.028 opt Au, 0.010 opt Au cutoff). (see resource table below).

Ownership

Otis Gold Corp maintains a 100% ownership interest in the Kilgore Gold Project

The project is not subject to any royalties, back-in rights, payments or other agreements and encumbrances.  No known environmental liabilities are currently known to exist.

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Oakley Project

Overview

The Oakley Gold Project consists of 107 federal lode mining claims and several Utah State leases (comprising 1,360 acres) located in Cassia County, Idaho, approximately 15 miles south of the town of Oakley and just north of the Utah/Nevada border.  

The project targets a classic epithermal hot spring-type gold exploration target with two primary geologic targets: Blue Hill Creek and Cold Creek. The Blue Hill Creek target hosts a current NI43-101 compliant resource of 235,000 contained ounces in the Inferred category (see resource table below for full breakdown).

Ownership

In July 2008, Otis acquired the right to earn a 100% interest in the Blue Hill Creek target in exchange for the issuance of 6.0 million shares and cash payments of $400,000 spread over five years. Subsequently, the company staked the Cold Creek target in October 2008 located approximately 6 miles north of the Blue Hill Creek target. To consolidate its land position, Otis has staked a number of federal mining claims between the two targets (which are approximately 3 miles apart) and has applied for several additional Utah state leases to consolidate its land position in the area.

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Buckhorn Project

Overview

The Buckhorn Project consists of twenty federal lode claims located on BLM and US Forest Service located 36 miles south of Salmon.  The property is located 2.6 miles off Idaho State Highway 28 and 2.5 miles from the Lemhi River and the nearest 3 phase electric power is 2.4 miles away. Work force could be located out of Salmon-Leadore, ID.

The project is targeting grass roots base and precious metal targets: 1) Leadville silver-lead-zinc manto replacements in Mississippian limestone; 2) porphyry system at depth; and 3) gold in marbleized limestone.

Ownership

M3 Resources LLC, controls the mineralized lands with 20 unpatented mining claims (MS 1-MS 20). An LOI is in effect between Otis and M3 with $20,000 due to M3 in August 2009 and a $50,000 work commitment in 2009. A sliding scale 2-4% NSR is reserved based on the price of silver.

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Hai Project

Overview

The Hai Property is comprised of 7 located lode claims covering historical gold workings known as the Little Chief Extension in the Lemhi Counties of Idaho. The claim group comprising the Hai property is part of a larger area that was the subject of modern exploration in the mid 1990s.  
   

 

Ownership

The Hai Property was included in a portfolio of projects in Idaho that Otis joint ventured from from Bayswater Uranium as part of its agreement to earn an interest in the Kilgore Gold Project in June 2008. 

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Goldbug Project

Overview

The Gold Bug property is situated approximately three miles from the Hai property and comprises nine lode claims. The claims cover an area of extensive eluvial gold placer workings in an area which is believed to be favourable for the occurrence of large tonnage, low-grade gold mineralization similar to the style of gold mineralization at Beartrack and other gold deposits in the region. The eluvial placer gold deposits occur on the slopes of gentle terrain and it is believed that the source of the gold is in close proximity to the placer workings.

Craig Lindsay MBA, CFA
President

Mitch Bernardi M.Sc. Geology
Chief Geologist

John Carden, Ph.D Lic. Geo.
Consulting Geologist

Donald E. Ranta, Ph.D. P.Geo
Director

Charles W. ("Bill") Reed, Lic. Geo.
Director


Norman Eyolfson
Director

Sean Mitchell
Director