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 - 2:39PM
Marketwired
Otis Gold Corp. (TSX VENTURE: OOO) ("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
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Thickness Grade
Hole Number From (metres) To (metres) (metres) (g/t Au)
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10 OKC-211 120.1 127.7 7.6 0.85
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10 OKC-213 54.5 58.4 3.9 4.00
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95.1 121.0 25.9 1.10
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145.4 154.5 9.1 0.74
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201.8 219.6 17.8 0.50
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233.8 236.8 3.0 1.82
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10 OKC-214 89.3 101.5 12.2 0.62
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10 OKC-215 63.7 77.4 13.7 2.00
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110.9 152.0 41.1 1.30
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includes 110.9 132.3 21.4 2.26
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10 OKC-216 Just beyond the north edge of deposit - no values
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10 OKC-217 36.3 39.3 3.0 1.06
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74.4 75.9 1.5 1.19
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107.9 123.1 15.2 0.71
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147.5 149.0 1.5 1.40
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10 OKC-222 135.0 136.5 1.5 2.49
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157.9 203.6 45.7 1.32
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includes 188.7 200.6 11.9 3.64
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10 OKC-224 87.8 103.0 15.2 1.08
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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
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
The TSX Venture Exchange has neither approved or disapproved of
the contents herein.
Contacts: Otis Gold Corp. Craig Lindsay President and CEO
604-683-2507 604-683-2506 (FAX) craig@otisgold.com
www.otisgold.com
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