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Otis Gold says permitting at Kilgore project now in final phase

Last updated: 22:36 30 May 2018 AEST, First published: 17:36 30 May 2018 AEST

Otis Gold says permitting at Kilgore project now in final phase
Machinery at the Kilgore project in Clark county, Idaho

Otis Gold Corp (CVE:OOO) told investors that permitting at its Kilgore project in Idaho has further advanced and is now in the final phase.

The U.S. Forest Service (USFS) has now issued a 'draft decision notice' and 'finding of no significant impact' (FONSI) in connection with Otis’ proposed plans to significantly expand the five-year program at the property.

READ: Otis Gold kicks off exploration at Oakley project in Idaho; aims to model deposit

"We are pleased with the permitting progress made to date, and appreciate the hard work of the U.S. Forest Service and other agencies," said Craig Lindsay, Otis' president and chief executive.

"We remain committed to our policy of utilizing best practices in the conduct of all our exploration programs."

The public now has 45 days starting from May 17 to comment on both notices.

"Otis anticipates a Final Decision Notice and FONSI will be issued approving the planned exploration program. Otis personnel and consultants are actively supporting the USFS during this process," it said.

The Kilgore project lies in the Eastern Snake River Plain, Idaho.

The site contains the Kilgore Deposit with a current NI 43-101  indicated resource of 520,000 ounces gold in 27.4mln tonnes at a grade of 0.59 g/t (grams per ton) gold and an inferred resource of 300,000 ounces in 20.2mln tonnes at a grade of 0.46 g/t gold.

Significantly, last month, Otis added four new gold targets at the flagship project.

The new areas were generated through surface geochemical sampling and ground geophysical surveys carried out in 2016 and last year.

The geochemical programme consisted of sampling and assay of soils, silts and rocks; the geophysical program consisted of property-wide ground magnetic surveys.

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