Bayswater Uranium Corp. (CVE:BYU) reports selling its non core assets to Otis Gold Corp. (CVE:OOO).
The press release is quoted as saying:
Otis Gold Corp has announced an update on the Kilgore Gold Project as of today’s date as follows: “The Kilgore Gold Project comprises a large, 5 square mile, volcanic-hosted epithermal gold system situated on the northern margin of the eastern Snake River Plain. Pliocene-age mineralization is hosted in Miocene lithic and crystal tuff on the margin of a caldera setting. Mineralization style and setting, host rock type and thickness, and overall size of the mineralizing system are analogous to those characterizing the Round Mountain, Nevada and McDonald Meadows, Montana multi-million ounce volcanic-hosted disseminated gold deposits, where high-grade, coarse-gold feeder veins also exist.