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Otis Gold Corp.
Summary
| Project: | Kilgore | |
|---|---|---|
| Deposit: | Kilgore | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 7/30/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-7-2019: Otis Gold Corp. announces a PEA report for its Kilgore deposit at the Kilgore project. PEA results incl. post-tax NPV (7%) of $96.8M, IRR of 34%. Vancouver, B.C. - July 30, 2019 - Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGL | |
| Resources: | (Resource): 44.6Mt @ 0.58g/t Au (Ind.) and 9.4Mt @ 0.45g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Alan Roberts (Internal) | |
| ABSTRACT: | Vancouver, B.C. - July 30, 2019 - Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) is pleased to announce the completion of its maiden Preliminary Economic Assessment (or “PEA”) at the Kilgore volcanic- and sediment-hosted epithermal gold deposit, Clark County, Idaho. The PEA utilizes the resource estimate completed in August, 2018 (see Otis news release dated September 28, 2018), and provides a robust economic scenario upon which to expand the potential scope and scale of the project with ongoing drilling. The PEA supports the potential for a low capital intensity, low operating cost, open-pit, heap-leach operation producing 112,500 ounces of gold per year over a 4.9 year mine life and generating highly attractive economics. Otis Gold president and CEO, Craig Lindsay, stated, "This PEA is a milestone for both the Kilgore Project and Otis Gold. The work is based on a resource estimate developed from 381 drill holes and 93,000 metres of drilling, with 85% of the resource in the Indicated category. The process design utilizing both crushed and ROM material optimizes the economics of the project, delivers a low strip ratio, produces more ounces and reduces mine life in comparison to an “all crush” processing scenario. We see this project as scalable in terms of both size and throughput through future addition to the resource base via permitted step-out drilling immediately adjacent to the deposit and exploration drilling at well-defined targets throughout the project area and beyond”. | |
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