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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (44628)	10/7/2009 10:01:50 AM
From: LoneClone	Read Replies (1) \| Respond to of 196422

Otis Announces Additional Drill Results Including 55.4 Metres of 6.15 g/t Gold at Kilgore Gold Project Wed Oct 7, 8:15 AM ca.news.finance.yahoo.com October 7, 2009 OOO (TSX); OGLDF (PINK) Vancouver, B.C. - Otis Gold Corp. (“Otis” or the “Company”) is pleased to announce that, based on recently obtained additional geochemical assay results, three of the four core holes drilled in November and December 2008 at the Company’s Kilgore Gold Project, Clark County, Idaho, contain significant bulk-tonnage, open-pittable thicknesses and grades, in addition to the high-grade, underground-type intercepts previously reported (Otis March 2 and April 7, 2009 News Releases). These new bulk-tonnage intervals, which are highlighted in the Table below and include 55.4 meters grading 6.15 g/t Au (181.8 ft @ 0.180 opt Au) in hole 08 OKC-191, contain mineralized thicknesses and average grades which are substantially greater than those constituting the majority of the intervals comprising the historic Kilgore NI 43-101 compliant resource (Otis March 2, 2009 News Release). These new intervals, all of which will be included in a future resource estimate, could serve to increase the overall size and grade of the Kilgore bulk-tonnage deposit, further enhancing deposit economics. Hole No. From (m) To (m) Thickness (m) Au g/t ------------------------------------------------------------------------------------------------- 08 OKC-191 41.8 97.2 55.4 6.15 includes 41.8 43.1 1.3 60.53 63.6 65.6 2.0 4.64 73.1 81.4 8.3 13.09 95.4 97.2 1.8 54.15 ------------------------------------------------------------------------------------------------- 08 OKC-192 28.0 38.7 10.7 1.32 includes 37.2 38.7 1.5 7.71 89.0 103.6 14.6 2.27 includes 89.0 91.1 2.1 9.05 ------------------------------------------------------------------------------------------------- 08 OKC-193 79.6 134.6 55.0 1.46 includes 79.6 81.9 2.3 8.24 128.9 134.6 5.7 3.33 includes 132.0 134.6 2.6 24.18 True widths are estimated to be between 70% and 100% of the drilled interval, based on estimated dip of mineralized horizons (upper and lower mineralized zones), stratigraphy, and triangulation of drill holes. All assay work was performed by ALS Chemex Labs, Vancouver, B.C., which has ISO 9001:2000 certification and operates in compliance with ISO17025. A 50-gram pulp of each sample was analyzed for gold by Fire Assay/AA finish methods. Samples containing greater than 10 grams gold were further analyzed by Fire Assay with gravimetric finish. Otis is currently conducting a 3,050- to 3,650-meter, HQ3-size core drilling program at Kilgore, with initial assays on the first four holes pending. As soon as these results are received, then selected mineralized samples and intervals will be submitted to an independent third-party geochemical laboratory for check assays as part of the Company’s quality assurance/quality control protocol. Final results will be released to the public upon verification of the check assays. John R. Carden, Ph.D., Lic. Geo., a Qualified Person as defined by National Instrument Policy 43-101, is responsible for the technical information contained in this News Release. About the Company Otis currently owns five precious metals projects located in Idaho and Nevada, two of which, including Kilgore, contain NI 43-101 compliant resources totaling in excess of 700,000 ounces of gold. ON BEHALF OF THE BOARD “Craig T. Lindsay” President and CEO For additional information, please contact: Craig Lindsay Mike Belantis Tel: 604.683.2507 Tel: 403.701.7299 E-mail: craig@otisgold.com Email: mike@otisgold.com THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN. 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.