Otis Gold Corp. ("Otis" or the "Company") is focused on the discovery, exploration and development of precious metals deposits in Idaho. Otis’s management and technical team has a proven track record of discovering and developing quality assets and unlocking shareholder wealth through the drill bit and M&A activities.
Otis wholly owns a 100% ownership interest in two gold and silver projects in Idaho, USA. Its flagship, the Kilgore Project (or "Kilgore"), is located in Clark County, Idaho. Kilgore is an advanced-stage open pit, heap leach low sulphidation epithermal gold deposit that contains a NI 43-101 Indicated resource estimate of 825,000 oz Au @ 0.58 g/t and Inferred resource estimate of 136,000 oz Au @ 0.45 g/t which was prepared in 2018. Otis also completed a maiden Preliminary Economic Assessment (PEA) at Kilgore which shows After-tax NPV (5% discount rate) of US$110.4 million and IRR of 34.0 %, with a 3.0-year payback period and LOM net cash flow of US$151.8 million.
Additionally, significant potential exists to increase the size and grade of the deposit as well as discover additional targets within the 12,150 acre (49.2 km2) claim area. No royalties or other encumbrances exist at Kilgore.
Otis Capital Corp. was incorporated under the Business Corporations Act (British Columbia) on April 24, 2007. On January 14, 2009, the Company changed its name to Otis Gold Corp. The Company's common shares are listed on the TSX Venture Exchange (the "Exchange") under the trading symbol OOO. On July 16, 2008, the Company acquired an option to acquire a 100% interest in the Blue Hill Creek Project located in Cassia County, Idaho (which is now known as the Oakley Project). At the same time, the Company also acquired an option to earn up to a 75% interest in the Kilgore Project, located in Clark County, Idaho, and the Hai and Gold Bug properties, located in Lemhi County, Idaho. In November 2010, the Company increased its interest in the Kilgore Project and related assets to 100%. Further, in 2017, the Company completed a transaction that increased its ownership in the Oakley Project to 100%. The Company is currently exploring for precious metals on these properties.
Otis is a gold exploration company focused on developing projects which have multi-million ounce potential located in mining-friendly jurisdictions. Otis is leveraging the talents of technical team, which made up the core of the Echo Bay Mines US exploration team in the mid 1990s, to build out its property portfolio. The technical team is complimented by a management team with a strong level of experience in corporate finance and public company management. While each project is approached with the goal of ultimately putting mines into production, the exit strategy will likely be through an M&A transaction.