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Otis Gold adds four new targets at flagship Kilgore project

The new areas have been generated through surface geochemical sampling and ground geophysical surveys

Otis Gold adds four new targets at flagship Kilgore project
The new areas have been generated through, among others, surface geochemical sampling

Otis Gold Corp (CVE:OOO) has added four new gold targets at its flagship Kilgore project in Clark County, Idaho.

The site has a current NI 43 101 indicated resource of 520,000 ounces of the yellow metal in 27.4mln tonnes at a grade of 0.59 g/t (grams per ton) but such targets provide an opportunity to expand this.

The new areas have been 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.

"The exploration programmes completed in 2017 have further contributed to our understanding of the geology and exciting exploration potential at Kilgore," said Otis CEO Craig Lindsay.

"Our commitment to ongoing exploration work continues to generate target areas that we believe are prospective to hosting additional gold deposits outside of the Kilgore Deposit, with tremendous regional expansion potential.”

Adjacent and northeast to the Kilgore deposit, Otis said that an area 1,000 meters by 500 meters had been found with mineral potential. Sampling of historic prospect pits has returned gold values up to 0.69 g/t gold along with anomalous Arsenic and Selenium.

At the Prospect Ridge target the south soil grid displays a gold-in-soil anomaly that covers around 15,000 sq. m in the Prospect Ridge target area.

Surface rock samples returned greater than 0.5 g/t gold north of the Kilgore Deposit area called Crystal Tuff.

A small soil sample program conducted in 2017 returned several 40 plus ppb (parts per billion) gold hits. This target is called Gold Knob.

Otis shares fell 10.17% to C$0.26 on the day.

Quick facts: Otis Gold Corp

Price: 0.125 CAD

TSX-V:OOO
Market: TSX-V
Market Cap: $21.93 m
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