Otis Gold drills 30.5 m of 5.37 g/t Au at Kilgore

Otis Gold Corp. (TSXV:OOO) has intersected 30.5 metres grading 5.37 grams per tonne gold in hole 16 OKR-315 and 114.3 m grading one g/t Au in hole 16 OKR-327 in its drill program at the Kilgore gold project, Clark county, Idaho. The 2016 drill program, currently in its final stages of completion, has been expanded to 10,300 metres over 40 holes.
The mineralization in drillhole 16 OKR-315 is hosted primarily in a Tertiary Sill and the Aspen Formation, the sedimentary unit underlying the existing Kilgore Gold Deposit and a primary focus of the 2016 drill program. In 2015, Otis’ drilling identified significant gold mineralization in the pre-dominantly untested Aspen Formation sedimentary rocks. This mineralization is defined by intervals of significant thicknesses and grades that remain open-ended throughout much of the deposit (see Otis January 14, 2016 News Release). Otis’ 2016 drilling is targeted to further drill test this Formation that underlies and serves as the basement to the Tertiary volcanic and hypabyssal rock package that currently hosts the majority of the known gold mineralization at Kilgore.
Assay results for the nine drill holes announced in this release, along with those for the first six holes previously announced (see Otis September 26, 2016 News Release), continue to indicate the Aspen Formation has the potential to host significant additional gold mineralization.
Highlights of the drill results to date and of importance to the future development of the Kilgore Gold Deposit (or the “Kilgore Deposit”) include:
— 16 OKR-315, targeting the Aspen Formation, encountered open-ended mineralization at depth and indicates the need for additional drilling throughout the length of the deposit; — The majority of intercepts reported in this release contain mineralization hosted in the Aspen Formation, the primary target of the 2016 drill program; — The grade and thickness of drill intercepts at depth in the Aspen Formation continue to demonstrate excellent potential to expand the size and grade of the current Kilgore resource; — Results of the 2015 and 2016 drilling support the premise that mineralization in the Aspen Formation sedimentary basement rocks is more extensive than indicated by previous drilling that mainly targeted the overlying volcanic package and dike swarm, which prior to this drill program had been the primary target of drilling efforts; — The Tertiary intrusive sill, which directly overlies the Aspen Formation and also locally intrudes the upper part of it, is also a host to gold mineralization and may be a potential mineralizer to the deposit; — Intercepts drilled in the Aspen Formation along the Main Road contain coarse-grained visible gold indicative of potential bonanza grades at depth; and — Hole 16 OKC-327, which was oriented to the northeast, filled in a previously untested gap in the lithic tuff, which is host to the majority of the existing resource at Kilgore).
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