Otis Provides Kilgore Permitting Update
12 Janvier 2018 - 2:30PM
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 ProjectThe
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
Neither TSX Venture Exchange nor its Regulation
Services Provider (as defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
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 “US Securities Act”) or any State securities laws, and
may not be offered or sold within the United States or to US
Persons unless registered under the US Securities Act and
applicable State securities laws, or an exemption from such
registration is available.
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