Otis Enters Final Phase of Kilgore Permitting
VANCOUVER, British Columbia, May 30, 2018 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSXV:OOO) (OTC:OGLDF) is pleased to report that ongoing permitting at its Kilgore Project has entered the final phase. The U.S. Forest Service (the “USFS”), as part of their ongoing agency review process, has issued a Draft Decision Notice and Finding of No Significant Impact (or “FONSI”) in connection with Otis’ proposed Plan of Operation for a significantly expanded 5-year exploration program at the Kilgore Project, Clark County, Idaho (see Otis News Releases dated October 23, 2017 and January 12, 2018).
The public now has a 45-day period, which commenced on May 17, 2018, to comment on the Draft Decision Notice and FONSI. Following a review and resolution of any material objections, Otis anticipates a Final Decision Notice and FONSI will be issued approving the planned exploration program. Otis personnel and consultants are actively supporting the USFS during this process.
Craig Lindsay, Otis President & CEO, stated: “We are pleased with the permitting progress made to date, and appreciate the hard work of the U.S. Forest Service and other agencies. We remain committed to our policy of utilizing best practices in the conduct of all our exploration programs.”
About the Kilgore Project
The Kilgore Project lies on the north-eastern margin of the Miocene-Pliocene Kilgore Caldera complex in the Eastern Snake River Plain, Idaho. The Kilgore Project contains the Kilgore Deposit with a current NI 43-101 (technical report dated September 12, 2012) Indicated Resource of 520,000 ounces (oz.) Au in 27.4 million tonnes at a grade of 0.59 g/t Au and an Inferred Resource of 300,000 oz. Au in 20.2 million tonnes at a grade of 0.46 g/t Au (the “Deposit”). The Kilgore Deposit is a low-sulphidation, gold bearing, quartz-adularia epithermal system hosted in Tertiary volcanic rocks, local Tertiary intrusive rocks, and basement Late Cretaceous, Aspen Formation sedimentary rocks. The preparation of an updated NI 43-101 compliant resource calculation is ongoing and will include drilling completed from 2015 through 2017.
About the Company
Otis is a resource company focused on the acquisition, exploration, and development of precious metal deposits in Idaho, USA. Otis is currently developing its flagship property, the Kilgore Project, located in Clark County, Idaho and the Oakley Project, located in Cassia County, Idaho.
ON BEHALF OF THE BOARD
“Craig T. Lindsay”
President & CEO
For additional information, please contact:
Mr. Tony Perri – Corporate Development
Tel: (604) 424-8100 Email: tony@otisgold.com
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