otso gold oy

Otso Gold Executes Mining Contract for the Restart of Production in September

(TheNewswire)



August 11, 2021 TheNewswire - Toronto, ON Otso Gold Corp. (" Otso " or the " Company "), (TSXV:OTSO) (OTC:FIEIF) is pleased to announce the execution today of its mining contract (the ‘Agreement') with E Hartikainen Oy. (‘Hartikainen'). The Agreement is for the provision of all mining services at the Otso Gold Mine for a term of 3 years. Machinery for mining has begun to be mobilized to site in advance of the start of mining next month.

Brian Wesson stated "The Company is pleased to have partnered with Hartikainen at the Otso Gold Mine and looks forward to working together. The execution of the mining contract is an important milestone towards the start of production next month".

Arto Hartikainen, managing director of Hartikainen stated "We are very happy with Otso Gold Mine's partnership and we are starting preparation work right away. Safety, quality and productivity will play a key role in the development of our services at the Otso Gold Mine'.

About Hartikainen

Hartikainen is one of Finland's largest mining and construction contractors and employs over 460 people around locations in Finland. 50 Decades of experience in contracting and trust in the Company's operations have enabled the Company to get significant projects at national level. Skilled personnel, strong- and robust equipment and reliable partnerships are the key to the success of the Company. E. Hartikainen Oy operates in Finnish mines where production is running 24/7/365 with over 250 devices.

E. Hartikainen Oy is known for the Company's high quality and efficient operations optimizing customer's production and productivity in safe manner.

"Brian Wesson"

President and CEO
Otso Gold Corp.

For further information, please contact:

Clyde Wesson
Vice President

1 917 287-0716

info@otsogold.com
www.otsogold.com

The technical disclosure in this news release has been reviewed and approved by Gregory B. Sparks P.Eng a Qualified Person as defined by National Instrument 43-101.

Caution

The Company cautions that it has not defined or delineated any proven or probable reserves for the Otso Mine Project and mineralization estimates may therefore require adjustment or downward revision based upon further exploration or development work or actual production experience. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The Company also cautions that the decision by the Company to proceed to develop the Osto Mine Project and extract mineralization proceeded without the Company first establishing reserves supported by a technical report and completing a pre-feasibility or feasibility study.  Accordingly, there is a higher risk of technical and economic failure at Osto because development proceeded without first establishing reserves supported by a technical report and completing a feasibility study.  This is particularly relevant as the Company has proceeded with development at Osto on indicated and inferred resources without first completing a preliminary economic report.


About the Company

Otso Gold Corp. wholly owns the Otso Gold Mine near the town of Raahe in Finland. The

Otso Gold Mine is fully built, fully permitted, has all infrastructure in place, two open pits

and is progressing towards a restart at 2 million tonnes per annum throughput.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
  Golden Deeps

Golden Deeps Expands Footprint in the World-Class Lachlan Fold Belt Copper-Gold Province, NSW

Golden Deeps Ltd (ASX: GED) has entered into a binding Heads of Agreement (HOA) to earn an 80% interest in the holders of four granted and highly-prospective exploration licences in the world class Lachlan Fold Belt Copper-Gold Province of NSW (see Figures 1, 2 and 3).

Keep reading...Show less
Tempest Minerals

Tempest Minerals


Keep reading...Show less
Astral Resources (ASX:AAR)

Strong Gold Anomalism Outlines Potential Analogue of Kamperman Prospect at Feysville

Assay results from the first two reconnaissance AC drill traverses highlight potential for new discoveries 1.5km north-west of the high-grade Kamperman Prospect at Feysville.

Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to provide an update on recent exploration activities at its 100%-owned Feysville Gold Project (Feysville), located 14km south of Kalgoorlie in Western Australia (Figure 1).

Keep reading...Show less
Aurum Resources (ASX:AUE)

Aurum Resources Poised for Significant Discovery, Report Says

Description:

Private equity firm 3L has identified Australian gold explorer Aurum Resources (ASX:AUE) as one of exploration companies primed for significant gold discoveries or research expansions in West Africa’s emerging world-class gold district.

Keep reading...Show less
Tempest Minerals

Rights Issue Offer Results

Tempest Minerals Ltd (TEM) (“Tempest” or the “Company”) is pleased to advise the completion of the pro-rata non-renounceable Entitlement offer (Offer). The Offer comprised one fully paid ordinary share (“New Shares”) in the Company for every five (5) fully paid ordinary shares held at an issue price of $0.008 per New Share.

Keep reading...Show less

Latest Press Releases

Related News

×