Otis Drills 45.7 Metres of 1.32 g/t Au and 41.1 Metres of 1.30 g/t Au at Kilgore
October 13, 2010
Vancouver, B.C. - Otis Gold Corp. (“Otis” or the “Company”) is pleased to announce the receipt of additional drill results comprising intercepts from the next set of logged and processed holes of its 2010, 32-core hole, 6,000-metre, Kilgore Gold Project (“Kilgore”) drill program, Clark County, Idaho. Highlights of this second grouping of eight holes, listed in Table 1 below, include intercepts of 45.7 metres (m) of 1.32 grams per tonne gold (g/t Au) in hole 10 OKC-222 and 41.1 m of 1.30 g/t Au in hole 10 OKC-215. All holes except 10 OKC-216, which was drilled along the northern periphery of the deposit, encountered mineralization and were drilled as infills or extensions into areas where historic wide-spaced drilling resulted in gaps and/or areas of open-ended mineralization.
Table 1. Otis Gold 2010 Kilgore Gold Project Drill Results - Second Grouping
|10 OKC-216||Just beyond the north edge of deposit - no values|
These new intervals, along with those from the first five holes recently reported on from Otis’ 2010 Kilgore Drill campaign (Otis September 8, 2010 News Release) and from other significant bulk-tonnage intercepts determined for a number of the Company’s core holes drilled during 2008 and 2009 in the nearby higher-grade core area of the Mine Ridge deposit (Otis October 7 and December 16, 2009 and March 23, 2010 News Releases), all support a high degree of confidence concerning continuity of mineralization throughout the deposit. These intervals further indicate the presence of mineralized thicknesses and average grades that are noticeably greater than those constituting the majority of the intervals comprising the historic Kilgore NI 43-101 compliant resource (Otis March 2, 2009 News Release). Based on results to date, Otis expects to increase the overall size, grade, and economic viability of the Kilgore deposit. Three-dimensional computer modeling of the deposit is being initiated and is expected to be completed in 2011 after all the 2010 drill results have been obtained and incorporated into the database.
As a continuation of Otis’ successful 2008 and 2009 drilling programs, this year’s drill program is being conducted as first-round in-fill and extension of the much larger 800-metre-long and 400-metre-wide Kilgore deposit area surrounding the deposit’s higher-grade, 200-metre wide, Mine Ridge core area. Much of this surrounding area was historically drilled on extremely wide, 60- to 120-metre-spaced centers, with in-fill and extension drilling necessary to more fully and clearly evaluate the deposit. Historic drilling was conducted by Bear Creek, Pegasus Gold, Placer Dome U.S., and Echo Bay Mines from 1983 -1996, while exploring the property for a bulk-tonnage gold deposit (Otis June 10, 2008 News Release).
Locations of this second grouping of eight holes, which total 1,763 metres of drilling, and their corresponding assay intercepts, are shown in a drill-hole location map available on Otis’ website at www.otisgold.com/projects/kilgore/.
Analysis and Otis QA/QC Program
All assay work was performed by ALS Chemex Labs, Vancouver, B.C., which has ISO 9001:2008 quality management system certification and ISO 17025:2005 Vancouver Lab technical capability accreditation. A 50-gram pulp of all samples was assayed for gold by Fire Assay/AA finish methods. Certified reference materials, duplicates, and blanks were inserted into the sample stream for quality control.
True bulk-tonnage widths are estimated to be between 90% and 100% of the drilled interval, based on their estimated dip, association with diking, and continuity of mineralization between drill holes. The HQ3-size core drilling was performed by Timberline Drilling, Inc., Coeur d’Alene, Idaho, employing two Sandvik DE-140 core drills outfitted with a triple-tube core recovery system and face-discharge bits. Drilling results will be reported throughout fall 2010/winter 2011 as they are received.
John R. Carden, Ph.D., Lic. Geo., a Qualified Person defined by National Instrument Policy 43-101, is responsible for the technical information contained in this News Release.
About the Company
Otis is a resource company focused on the acquisition, exploration, and development of precious metal deposits in Idaho. The Company is currently developing its flagship property, the Kilgore Gold Project, Clark County, Idaho and has several other gold, silver and base metal projects located in Idaho.
ON BEHALF OF THE BOARD
“Craig T. Lindsay”
President and CEO
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