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Otis Gold advances after announcing assay results from another nine core holes

Otis has now released results from 24 exploration holes drilled in 2017
The Kilgore project in Idaho
The Kilgore project is in Idaho

Shares in Otis Gold Corp (CVE:OOO) advanced after it announced assay results for nine core holes from its drill programme at the Kilgore project.

Seven holes encountered significant bulk-tonnage intercepts highlighted by 86.8 metres (m) grading 1.05 grams per tonne gold (g/t Au) in hole 17 OKC-366, 137.2 m grading 0.91 g/t Au in hole 17 OKC-374, 71.6 m grading 1.05 g/t Au in hole 17-OKC 376, and 118.9 m grading 1.41 g/t Au in hole 17 OKC-377.

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

Otis said the primary goal of the drill program was to follow-up on open-ended drilling at depth and laterally as infill on drill intercepts from 2015 and 2016, primarily in the prospective Late Cretaceous Aspen Formation sedimentary host unit within and along the “Aspen Corridor”.

READ: Otis Gold drilling continues to demonstrate continuity of Kilgore deposit

 

Intercepts were as follows

Hole ID

Depth
(metres)

Azimuth/Angle

Section

From
(m)

To
(m)

Width
(m)

Au
(g/t)

Host

17 OKC-363

341.4

50˚/-75˚

11,600 N

No Significant Values

17 OKC-365

334.7

230˚/-65˚

11,700 N

70.1

73.2

3.1

1.22

Sill

93.0

123.4

30.4

0.68

Sill & Aspen

134.1

172.2

38.1

0.69

Aspen

17 OKC-366

334.7

-/-90˚

12,100 N

16.8

36.6

19.8

0.47

Rhyolite

141.7

151.1

9.4

1.53

Sill

181.4

268.2

86.8

1.05

Aspen

17 OKC-368

337.7

230˚/-65˚

12,000 N

46.6

67.4

20.8

0.56

Tuff, Aspen

123.1

146.0

22.9

0.48

Sill & Aspen

187.6

206.7

19.1

0.59

Aspen

17 OKC-370

333.1

230˚/-80˚

12,000 N

57.3

64.9

7.6

0.59

Tuff

109.1

121.6

12.5

0.43

Sill

138.1

224.9

86.8

0.76

Aspen

232.6

235.6

3.0

0.63

Aspen

246.3

258.0

11.7

1.15

Aspen

17 OKC-372

304.8

-/-90˚

11,900 N

57.9

62.5

4.6

0.50

Sill & Aspen

105.2

135.6

30.5

0.78

Sill & Aspen

169.2

172.2

3.0

0.94

Aspen

192.0

221.0

29.0

0.71

Aspen

17 OKC-374

301.1

230˚/-75˚

11,900 N

109.1

246.3

137.2

0.91

Sill & Aspen

282.9

289.1

6.2

0.80

Aspen

17 OKC-376

276.8

230˚/-75

12,100 N

109.7

189.0

79.3

0.79

Sill & Aspen

204.2

275.8

71.6

1.05

Aspen

17 OKC-377

282.9

-/-90˚

12,100 N

103.6

113.6

10.0

0.30

Sill

121.3

240.2

118.9

1.41

Aspen


Otis has now released results from 24 exploration holes drilled in 2017. The 25th hole drilled in the 2017 work program was designed for metallurgical testing purposes. Results of column leach and other testing on this hole will be released upon completion of the studies.

Otis is now focused on developing drill planning activities for 2018 at both Kilgore and the Oakley project and the completion of an updated NI 43-101 compliant resource estimate for the Kilgore deposit.

“With the support of a strong investor base, Otis made significant strides to delineate and expand the Kilgore deposit in 2017,” said Craig Lindsay, the president and chief executive officer of Otis.

“We continue to be very excited about the prospects for continued growth at the project in 2018, and are equally enthusiastic about exploration potential at new exploration targets beyond the resource area. We are confident that 2018 will be another banner year for the Kilgore project,” he added.

Shares in Otis were up 2.1% at C$0.24.

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