Otis Drills 87.8 Metres of 1.26 g/t Au Including 32.0 Metres of 3.46 g/t Au at Kilgore
December 16 2010 - 8:00AM
Marketwired
Otis Gold Corp. (TSX: OOO) ("Otis" or the "Company") is pleased to
announce the receipt of additional significant drill results
comprising potentially bulk-mineable, open-pittable intercepts from
the third set of logged and processed holes of its 2010, 35-core
hole, 6,657-metre, Kilgore Mine Ridge Gold Project ("Kilgore")
drill program located in Clark County, Idaho. Highlights of this
third grouping of seven holes, listed in Table 1 below, include
intercepts of 87.8 metres (m) of 1.26 grams per tonne gold (g/t Au)
that further includes 32.0 m of 3.46 g/t Au in hole 10 OKC-228,
45.7 m of 1.22 g/t Au in hole 10 OKC-226, 30.5 m of 1.28 g/t Au in
hole 10 OKC-218, 30.5 m of 1.24 g/t Au in hole 10 OKC-227, and 27.5
m of 1.72 g/t Au in hole 10 OKC-245. All holes encountered
mineralization and were drilled as infills or extensions of 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 Highlights -
Third Grouping
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Thickness Grade
Hole Number From (metres) To (metres) (metres) (g/t Au)
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10 OKC-218 138.1 168.6 30.5 1.28
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10 OKC-219 182.3 183.8 1.5 1.47
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45.1 46.6 1.5 3.58
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10 OKC-226 68.0 72.5 4.5 1.21
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214.3 260.0 45.7 1.22
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includes 246.3 257.0 10.7 3.53
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10 OKC-227 87.8 118.3 30.5 1.24
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includes 98.5 107.6 9.1 2.47
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10 OKC-228 11.9 99.7 87.8 1.26
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includes 64.6 96.6 32.0 3.46
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10 OKC-229 15.8 18.8 3.0 1.14
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60.4 93.9 33.5 0.58
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10 OKC-245 2.4 29.9 27.5 1.72
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104.5 113.7 9.2 1.09
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Most importantly, hole 10 OKC-228 containing 87.8 m @ 1.26 g/t
Au is directly on strike from and appears geologically associated
with Otis' hole 08 OKC-191 that contains 55.4 m @ 6.15 g/t Au (Otis
October 7, 2009 News Release). Specifically, Otis geologists
believe these two mineralized intercepts, some 75 metres apart and
open-ended along strike to the northwest and southeast for at least
250 metres, are associated with the same mineralized,
northwest-trending dike sequence that occurs throughout the
higher-grade core of the Kilgore Mine Ridge deposit. This highly
prospective area will require detailed follow-up drilling in 2011
that could likely add additional resource ounces along the
open-ended extent of its strike length.
These new intervals, along with those from the first thirteen
core holes reported on from Otis' 2010 Kilgore drill campaign (Otis
September 2 and October 10, 2010 News Releases) 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 Mine Ridge core area of the 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 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 that there is a strong possibility to increase
the overall size and economic viability of the Kilgore deposit.
Three dimensional computer modeling of the deposit is being
initiated and is expected to be completed 2011 after all the 2010
drill results have been obtained and incorporated into the
database. Assays from the remaining 15 core holes will be released
as they become available.
As a continuation of Otis' successful 2008 and 2009 drilling
programs, this year's aggressive drill program, completed in late
October, was 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. Historically, much of the surrounding area was 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 third grouping of seven holes, which total
1,380 metres of drilling, and their corresponding assay intercepts,
are shown in a drill-hole location map available on the Otis Gold
Corp. 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
Winter 2011 as they are received.
John R. Carden, Ph.D., Lic. Geo., a Qualified Person as 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,
USA. Otis is currently developing its flagship property, the
Kilgore Gold Project, located in Clark County, 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 604-683-2507
604-683-2506 (FAX) craig@otisgold.com www.otisgold.com
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