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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 18, 2016) – Otis Gold Corp. (TSXV:OOO) is pleased to announce that it has increased its land position at the Kilgore Gold Project (“Kilgore”) by approximately 116% via the staking of an additional 230 federal lode mining claims.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 18, 2016) – Otis Gold Corp. (TSXV:OOO) is pleased to announce that it has increased its land position at the Kilgore Gold Project (“Kilgore”) by approximately 116% via the staking of an additional 230 federal lode mining claims. The new claims staked at Kilgore increase the land package at Kilgore to 8,720 acres, or 35.3 square kilometers. A map identifying the increased footprint can be viewed on the Otis website here. Otis enjoys a 100% ownership interest in the entire land package, which is subject to no underlying royalties or other encumbrances.
President & CEO Craig Lindsay states: “We have been generating very strong drill results at Kilgore since the release of our NI 43-101 Technical Report and Resource Estimate in 2012, and as a result of both drill success and the continued delineation of additional exploration targets beyond the existing known gold deposit, we felt it was very important to expand our land position. While further defining the existing Kilgore deposit is our immediate focus, we want to ensure our ability to expand exploration targets as we continue to build out the Kilgore project into the future. It is interesting to note that in the mid-1990s, when the project was operated by Echo Bay Mines, Kilgore consisted of a land package totaling 11,460 acres, so a strong rationale exists to increase our the land position even further in the future.”
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