Otis Provides Kilgore Permitting Update
VANCOUVER, British Columbia, Jan. 12, 2018 (GLOBE NEWSWIRE) -- Otis Gold Corp. (the “Company” or “Otis”) (TSX-V:OOO) is pleased to announce that the U.S. Forest Service (the “USFS”), as part of their ongoing agency review process, has issued a notice for a 30 day public comment period on the proposed Plan of Operation for a significantly expanded exploration program at the Kilgore Project, Clark County, Idaho (see Otis News Release dated October 23, 2017). The USFS will utilize any comments received to assist in guiding the completion of an Environmental Assessment and draft Record of Decision. The public will then have a further 45 day period to comment on the Record of Decision, following which the USFS will work to resolve any outstanding issues prior to issuing a final Decision Notice. Otis personnel and consultants are actively supporting the USFS in this review process.
Craig Lindsay, Otis President & CEO, stated: “The initial public comment period is an important part of the permitting process, and we are pleased the USFS is working within our planned timelines for the approval of our new Plan of Operation. We have been operating in Idaho since 2008, and remain committed to continuing our policy of utilizing best practices in the conduct of all our exploration programs.”
About the Kilgore Project
The Kilgore Project contains a current NI 43-101 (dated September 12, 2012) Indicated Resource of 520,000 ounces (oz.) Au in 27.4 million tonnes at a grade of 0.59 g/t Au and an Inferred Resource of 300,000 oz. Au in 20.2 million tonnes at a grade of 0.46 g/t Au (the “Deposit”). The Deposit is part of an extensive low-sulfidation quartz-adularia epithermal hydrothermal system hosted in Tertiary volcanic rocks and an underlying sedimentary sequence that is Late Cretaceous in age. Gold mineralization is of the traditional disseminated, bulk-tonnage type similar to that comprising the classic volcanic-hosted gold deposits at Round Mountain, Nevada. The preparation of an updated NI 43-101 compliant resource calculation is ongoing and will include drilling completed in 2015, 2016 and 2017. This resource update will be released when available.
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 Project, located in Clark County, Idaho and the Oakley Project, located in Cassia County, Idaho.
ON BEHALF OF THE BOARD
“Craig T. Lindsay”
President & CEO
For additional information, please contact:
Mr. Tony Perri – Corporate Development
Tel: (604) 424-8100 Email: tony@otisgold.com
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