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Otso Gold posts encouraging results from latest drill campaign at Finnish gold project

The company said the initial round of drill results increased the firm’s confidence in the mineralization at the project

gold coins in soil
Highlights of the current round of drilling include 2 metres at 10.9 grams per ton gold and 8.1 metres at nearly 2 grams per ton gold

Otso Gold Corp (CVE:OTSO) hit promising intercepts in its current drill campaign at its Finnish gold project.

The Toronto-based firm is currently conducting an infill drill program to form a basis to restart production at the Otso gold project.

The initial round of drill results increased the firm’s confidence in the mineralization at the project, Otso said in a release Thursday.

READ: Otso Gold Corp looks forward to realizing value of Finnish gold mine

Highlights of the current round of drilling include 2 metres at 10.9 grams per ton (g/t) gold and 8.1 metres at nearly 2 g/t gold.

Otso is in the midst of a 10,000-15,000 metre infill drill program, with over 1,900 metres of diamond drilling across 20 holes.

The infill drill program is focused on closing the drill spacing in the mining areas to 25 metres, providing the basis for detailed mine planning and optimization, said Otso’s CEO Brian Wesson in a statement.

Wesson called it a “key milestone” on the path to sustainable production at Otso, a former producer, and said results are correlating well with previous wide space drilling, demonstrating “significant ore at significant grades” in the existing pits and contemplated extensions.

“Defining the resources and reserves are the key to moving back to production and unlocking the significant value of the operation,” Wesson told shareholders.

Otso is aiming to restart production at the project in the second half of 2020.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Otso Gold Corp.

Price: 0.07 CAD

TSX-V:OTSO
Market: TSX-V
Market Cap: $15.56 m
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Nordic Gold kicks off drilling programme at its Otso mine project in Finland

Nordic Gold Inc (CVE:NOR) chief executive and president Brian Wesson speaks to Proactive London's Andrew Scott soon after announcing that drilling has started at its gold mine project in Finland.  The work includes drilling of between 10,000 and 15,000 metres across 146 holes and is a...

on 5/12/19

2 min read