Otis Joint Venture Partner Reports 0.691 gpt Au Over 123m at the Oakley Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 5, 2015) - Otis Gold Corp. ("Otis" or the "Company") (TSX VENTURE:OOO)(OTCQX:OGLDF) today reports that its joint venture partner, Radius Gold Inc., has announced initial drill results from its Fall 2014 diamond drill program at the Blue Hill Creek Gold target, located within Otis' Oakley Gold Project in southeastern Idaho. Five diamond drill holes totalling 1,308m were drilled between August 30th and October 24th, 2014. Three holes intercepted gold mineralization, including 0.691 gpt Au over 123m (BHC14-01), 0.705 gpt Au over 41.1m (BHC14-03) and 0.405 gpt Au over 113.9m (BHC14-04) (see Radius Gold News Release dated February 5, 2015). A summary of the drill results are as follows:
| Blue Hill Creek Gold Project Drill Results | ||||
| Drill hole | From (m) | To (m) | Length (m) | Au (g/t) |
| BHC14-01 | 62.6 | 185.6 | 123 | 0.691 |
| incl. | 90.0 | 108.0 | 18 | 1.621 |
| BHC14-03 | 129.7 | 170.8 | 41.1 | 0.705 |
| 178.9 | 191.6 | 12.6 | 0.428 | |
| BHC14-04 | 12.2 | 126.1 | 113.9 | 0.405 |
| incl. | 24.4 | 48.9 | 24.5 | 0.781 |
| BHC14-02 & BHC14-05: No significant values | ||||
| Reported lengths are not necessarily representative of true widths, which are unknown. |
| Drill hole | Easting | Northing | Elevation | Length (m) | Inclination | Azimuth |
| BHC14-01 | 261080 | 4656392 | 1858 | 397 | -65 | 270 |
| BHC14-02 | 261483 | 4656388 | 1829 | 294 | -75 | 270 |
| BHC14-03 | 260844 | 4656399 | 1868 | 288 | -65 | 90 |
| BHC14-04 | 261004 | 4656560 | 1828 | 198 | -55 | 115 |
| BHC14-05 | 261001 | 4656675 | 1792 | 131 | -55 | 115 |
| Coordinates are in NAD83 datum, UTM zone 12 projection. |
Otis is excited about the drill results, and is in the process of properly analyzing and assessing the drill program prior to developing next steps for the project. One significant item that was not reported on is the presence of silver in the holes drilled, and Otis is in the process of calculating gold equivalent drill results that will be issued shortly.
The significant near-surface mineralized intervals intercepted were consistent with historical drilling results in the same area and expanded on the potential for a near-surface gold deposit. While this initial drill program did not identify deep feeder structures to the near surface mineralization, it was successful in confirming and expanding upon historic drilling. Additional analysis and discussion are being conducted to determine the next steps in developing this target, which will include additional step-out drilling and metallurgical testing. Otis will be releasing additional information shortly.
Qualified Person
John Carden, Ph.D., Licensed Geologist., is Otis Gold's Qualified Person under the terms of National Instrument 43-101, "Standards of Disclosure for Mineral Projects" and has approved the technical information in this news release.
QA/QC
Core samples were sawed, bagged, and delivered by Radius staff to Bureau Veritas' preparation facility in Elko, NV. Samples were crushed at the Elko facility, with aliquots then pulverised and forwarded to Bureau Veritas' analytical laboratory in Vancouver, BC for analysis. Sample pulps were analysed for gold and a standard multi-element suite using Bureau Veritas analytical packages FA330 an AQ300, respectively. Pulps of two gold geochemical standards (CDN Labs: CDN-GS-5PC & CDN-GS-8C) and blank (CDN Labs: CDN-BL-10) material were routinely inserted into the sample stream to monitor analytical laboratory performance, and regular field duplicates were sampled to monitor geochemical heterogeneity.
About The Company
Otis Gold Corp. is a Canadian-based mineral exploration company focused on the acquisition and development of quality precious metal deposits in Idaho, USA. Otis is currently developing its flagship property, the Kilgore Gold Project, located in Clark County, Idaho (approx. 60 miles north of Idaho Falls).
ON BEHALF OF THE BOARD
Craig T. Lindsay, President and CEO
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.
The forward-looking information contained in this press release is made as of the date hereof and Otis undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.