VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - Otis Gold Corp. (TSX VENTURE:OOO)(OTCQX:OGLDF) ("Otis" or the "Company") is pleased to announce that it will shortly be commencing a 1,700-meter, 9-hole reverse circulation drill program at its flagship Kilgore Gold Project located in Clark County, Idaho.
The drilling will be conducted in the North Target area, located at the north/northwest end of the Kilgore Deposit, where five holes drilled in 2011 successfully expanded the strike length of the deposit by approximately 150 meters (see Otis News Release dated October 6, 2011). Specifically, the drilling will offset hole OKC-258, which intercepted 114.3 metres at a grade of 0.89 grams per tonne gold (g/t Au), including 80.8 m @ 1.10 g/t Au, and hole 11 OKC-259, which intercepted 118.8 m at a grade of 0.89 g/t Au, including 36.5 m @ 1.65 g/t Au. Due to the shallow mineralization associated with these two holes, drilling is expected to average only 180 to 200 meters per hole. The North Target area is currently open-ended to the north-northwest of Holes OKC-258 and 259 where it is further defined by the results of an Otis 2011 detailed soil survey that show gold-in-soil anomalies along an additional 400 meters of potential deposit strike length beyond these holes (see Otis News Release dated January 31, 2011).
The drill program will be conducted by O'Keefe Drilling of Butte, Montana using a single buggy rig. The rig is currently being mobilized, with drilling scheduled to be completed by the end of November.
John R. Carden, Ph.D., P. Geo., a Qualified Person (QP) as defined by National Instrument Policy 43-101, is responsible for the technical information contained in this news release.
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 Gold Project, located in Clark County, Idaho.
Forward Looking Statement
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.
ON BEHALF OF THE BOARD
Craig T. Lindsay, President and 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 "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.
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