The press release is quoted as saying:
The Company’s partner at the Cieneguita joint venture is Minera Rio Tinto (MRT), a private Chihuahua based company. Under the joint venture agreement the Company receives 20% of the net operating profits after royalties for material processed through the small-scale operation and mined from the first 15 meters depth of the Cieneguita deposit until December 31st 2012. For all other material processed from the property, the Company’s interest is 80% and MRT has a 20% working interest.
|Otis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.|