Otis Completes Detailed Soil Sampling Program at Kilgore
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/01/11 -- Otis Gold Corp. (TSX VENTURE: OOO)(OTCQX: OGLDF)(PINK SHEETS: OGLDF) ("Otis" or the "Company") is pleased to report that it has completed a soil sampling program on its 100%-owned Kilgore Gold Property located in Clark County, Idaho. The soil grids were strategically placed along the strike of the Northwest Fault, thought to control gold mineralization in the deposit that is being explored by the Company's drill programs. A total of 681 soil samples were collected from two grids shown on a location map available for viewing on the Otis Gold Corp. website at .
The North Soil Grid contains 266 samples collected on a 30-metre x 30-metre spacing located between the northern limit of the current Mine Ridge deposit, and the drill targets identified at Gold Ridge. The soil program was designed to extend the shallow gold deposit, where several +100 m gold intercepts were reported in a recent Company news release (Otis October 6, 2011 News Release) beginning just 6 metres below the surface on the very northwest edge of the drill pattern, and aid in prioritization of targets for the upcoming drill season. The South Soil Grid contains 415 samples on a 30-metre x 60-metre spacing that overlies the Prospect Ridge area along the southeast extension of the Northwest Fault on the south side of the rhyolite dome, thought to be the heat engine responsible for the emplacement of mineralizing hydrothermal fluids.
Otis' Chief Geologist Mitch Bernardi states: "The results from this soil survey should be exciting in that they will help generate drill targets and finally link the Gold Ridge areas to the Prospect Ridge area along a hydrothermal system that has a footprint of about 3.7 km in length. Otis collected all of its samples from the 'C' soil horizon, just above bedrock, along the Northwest Fault-the controlling structure responsible for mineralization. Because the top of the +100 m intercepts at the northwest edge of our drill pattern are shallow, it is likely that any anomalies we detect will relate to the extension of the Mine Ridge deposit and surgically guide our exploration efforts for Otis' drilling campaign next year."
The samples are being submitted to ALS-Chemex where they are being analyzed by methods for determining ultra-low levels of trace element content by ICP-MS (inductively coupled plasma-mass spectrometry) and ICP-AES (inductively coupled plasma-atomic emission spectrometry) procedure for a 51-element suite. Chemex has ISO 9001:2008 quality management system certification and ISO 17025:2005 technical capability accreditation. The data from this study are expected in late November, and after employing stacked spatial and statistical analysis to discriminate meaningful anomalies, results will be given in an Otis news release. If anomalies are detected, they will likely be related to the northwest extension of the Mine Ridge deposit (heading toward Gold Ridge) or the southeast extension of the Prospect Ridge area discovered in drilling conducted this year.
The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is John R. Carden, PhD, Lic. Geo., and Consulting Geologist for Otis Gold Corp., who has reviewed and approved its technical contents.
About The Company
Otis Gold Corp. is a Canadian-based mineral exploration company focused on the acquisition, exploration, 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 & CEO
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 "US Securities Act") or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Otis Gold Corp.
Craig Lindsay
(604) 683-2507
(604) 683-2506 (FAX)
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Datum: 01.11.2011 - 12:30 Uhr
Sprache: Deutsch
News-ID 82360
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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