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Ascot Resources Ltd.
Summary
| Project: | Premier | |
|---|---|---|
| Deposit: | Big Missouri, Northern Lights | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 7/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing PEA | |
| Report details: | 18-7-2018: Ascot Resources Ltd. announces an Exploration/Drilling Update report for its Big Missouri, Northern Lights deposit at the Premier project. Drilling results incl. 39.0m @ 6.30g/t Au, 7.5g/t Ag from 171.0m. VANCOUVER, British Columbia, July 18, 2 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Graeme Evans, Lawrence Tsang (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, July 18, 2018 -- Ascot Resources Ltd (TSX.V:AOT) (OTCQX:AOTVF) (“Ascot” or the “Company”) is pleased to announce that drilling at Big Missouri continues to identify new gold mineralization while drilling at Premier/Northern Lights demonstrates that this area of the current resource still has room to grow. Notable intercepts in this release include Derek White, President and CEO of Ascot Resources commented, “We are excited to see these new intercepts at Big Missouri that will help us outline high-grade resources in that area. In addition, the value of the existing infrastructure has been further enhanced by the successful holes in the Premier area that highlight the potential to expand the zones of the May 10, 2018 resource.” The Company is working towards recommencing underground production at the Premier site near Stewart, BC using existing facilities and infrastructure (mill building, tailings facility, underground development and power line). As a first step, the Company completed a maiden underground resource at Premier/Northern Lights and reported the results on May 10, 2018. The current drill program commenced on April 16, 2018 and is an integral part of the second step in the process. The program is designed to extend mineralized zones at Premier/Northern Lights; convert current resources from inferred to indicated in existing zones (including the 602 zone); and to delineate high-grade zones in the Big Missouri/Martha Ellen area located 5km further north. The overall purpose is to add to the existing resource base to support initial engineering studies that commenced in June 2018. This news release summarizes the results of nine drill holes at Big Missouri and 21 drill holes in the Premier/Northern Lights area. The drill holes at Big Missouri were drilled to the southwest of the S1 pit (see Figure 1) while drill holes at Premier/Northern Lights were targeted on extensions of the 602 and Prew zones. Four holes were drilled in the Lunchroom zone and seven exploration holes targeted the Sebakwe zone to the northeast of Northern Lights outside of the current resource area | |
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