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Otis Gold Corp. (TSXV:OOO) announced the results of its recently completed 2015 fall drill program conducted at the Kilgore Gold Project, Clark County, Idaho.
Otis Gold Corp. (TSXV:OOO) announced the results of its recently completed 2015 fall drill program conducted at the Kilgore Gold Project, Clark County, Idaho.
As quoted in the press release:
Noteworthy intercepts of significant thickness and grade include:
- 56.4 m of 2.05 g/t Au in hole 15 OKR-304 (ended in mineralization)
- 59.5 m of 3.79 g/t Au in hole 15 OKR-305
- 50.3 m of 4.24 g/t Au in hole 15 OKR-308 (ended in mineralization)
- 94.5 m of 4.21 g/t Au in hole 15 OKR-309 (ended in mineralization)
Other similarly thick, but lower-grade intercepts, include:
- 100.5 m of 0.60 g/t Au in hole 15 OKR-296
- 100.0 m of 0.57 g/t Au in hole 15 OKR-302 (ended in mineralization)
- 51.8 m of 0.64 g/t Au in hole 15 OKR-309 (ended in mineralization)
Drilling targeted two areas, the Crab Claw, a large and previously untested gap on the west end of the deposit, and the North Target, an area that is north-northwest of and immediately adjacent to the existing Kilgore resource.
Highlights of the drill program, of significant importance to the future development of the Kilgore Gold Deposit (or the “Kilgore Deposit”), include:
- The grade and thickness of drill intercepts indicate a strong potential to expand the size and grade of the current Kilgore resource;
- All 10 holes drilled in the Crab Claw were mineralized with 6 holes bottoming in mineralization mostly hosted by Late Cretaceous Aspen Formation sedimentary rocks, indicating the need for further drilling in and around this higher-grade part of the deposit;
- Results of the drilling show the Crab Claw exists as the western/southwestern extension of the higher-grade core of the Kilgore Deposit and remains open-ended laterally and at depth;
- Numerous historic holes drilled in the Kilgore Deposit also bottomed in higher-grade Aspen Formation-hosted mineralization, but were never the subject of further exploration, thus creating additional opportunities for further expansion of the deposit both laterally and at depth;
- Drilling in the North Target demonstrates the potential for further lateral expansion of the Kilgore Deposit; and
- Future development activities include a robust 2016 drilling program, an updated resource estimate, a Preliminary Economic Assessment (PEA) and mine permitting activities.
Reported intercepts in nearly all holes are defined by the presence of thick, continuous strings of relatively consistent gold values, rather than by a few scattered high-grade intervals.
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