Otis Gold Corp. (V:OOO) is expanding its Kilgore Gold Project in eastern Idaho. Recent high-grade drill results have improved the prospects for a larger and higher grade gold deposit. We are initiating research coverage with a Buy rating.
Kilgore gold project profile:
Otis Gold Corp.’s 100% owned Kilgore gold project is about 60 miles north of Idaho Falls, Idaho, and 90 miles west of a regional hot spot near the nexus of Idaho, Wyoming and Montana. This stationary hot spot under the North American plate, created openings for heated mineralized fluids. The project is situated on the northeast margin of the Kilgore Caldera, which originated at this hot spot. This is one of the latest in a succession of rhyolite eruptions that have occurred over the last 20 million years, and formed the Snake River flood basalts, which extend to the southwest to northern Nevada and southeast Oregon. The project’s 4,120 acres are situated on U.S. Forest Service land with good infrastructure and access to labor and equipment. The project has no underlying royalties and annual holding costs of about $30,000.
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