logo-loader
MiningGold & silver
viewOtis Gold Corp

Otis Gold Corp says latest exploration results underscore "district-scale potential" of Idaho gold-silver project

Assay results from rock chip samples from the Blue Creek and Emery Creek targets included gold values up to 1.75 grams per tonne of gold and 105 grams of silver

hammer and rocks
The company has taken over 800 rock-chip and soil samples from two areas on the project

Otis Gold Corp (CVE:OOO) delivered some encouraging results from early-stage exploration work on its Oakley Project in Idaho that point to its potential as a possible district-scale gold play.

Assay results from rock chip samples from the Blue Creek and Emery Creek targets included gold values up to 1.75 grams per tonne of gold (g/t) and 105 grams of silver. Blue Creek is currently host to 163,000 ounces of the yellow metal at a grade of 0.51 g/t.

READ: Otis Gold shares up as it notes complaint filed on Kilgore project

Alan Roberts, Otis’s vice president of exploration, said the latest work extended and built upon the mineralization observed in past drilling in a third area, Matrix Creek.

“The surface geochemistry from the Emery Creek target shows potential for subsurface mineralization,” he added.

Roberts told investors that gold and silver found within altered Palaeozoic sediments pointed to surface areas for follow-up.

Planning for 2019

The latest data will feed into the development of a significant drill program to test these detachment structures at depth.

“These results combined with those reported for Cold Creek confirm our belief in the district scale potential throughout the Oakley Project.”

In total this year, 475 soil samples have been analyzed by Otis geologists for gold and silver from Blue Hill Creek. A further 140 rock-chip samples were collected across the target area and were analyzed for gold and silver. In all, 235 soil samples were taken from Emery Creek.

The Oakley gold-silver project is epithermal hot spring-type mineralization, which has been found in multiple areas.

Last month, Otis said it had found a 3.5 km long by 0.5 km wide silver and gold anomaly. The area lies at the north end of the group's Oakley project.

Quick facts: Otis Gold Corp

Price: 0.095 CAD

TSX-V:OOO
Market: TSX-V
Market Cap: $16.66 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

MJ Micro conference brings together public and private cannabis companies

MJ Link, a Subsidiary of Social Like Network (OTCQB: WDLF) CEO Kenn Tapp and President of MJ Micro Todd Markey sat down with Steve Darling from Proactive Vancouver at the MJ Micro Conference held in Los Angeles. Markey talked about the success of the conference and just how they picked the...

4 hours, 40 minutes ago

2 min read