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Ascot Resources Ltd.
Summary
| Project: | Premier | |
|---|---|---|
| Deposit: | Premier | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 5/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 10-5-2018: Ascot Resources Ltd. announces a Resource Estimation report for its Premier deposit at the Premier project. Update mineral resource estimate at project. VANCOUVER, British Columbia, May 10, 2018 -- Ascot Resources Ltd (TSX.V:AOT) (OTCQX:AOTVF) | |
| Resources: | (Resource): 1.21Mt @ 7.02g/t Au, 30.6g/t Ag (Ind.), 1.64Mt @ 6.01g/t Au, 24.9g/t Ag (Inf.) | |
| CP/QP: | [Resources]: David Rennie, Ronald Simpson (Geosim Services Inc.) | |
| ABSTRACT: | VANCOUVER, British Columbia, May 10, 2018 -- Ascot Resources Ltd (TSX.V:AOT) (OTCQX:AOTVF) (“Ascot” or the “Company”) is pleased to announce an updated NI 43-101 resource estimate for its flagship Premier-Dilworth property in British Columbia’s Golden Triangle. The additional resource includes high-grade zones from the Premier and Northern Lights area that were modeled using a cut-off grade that is suitable for underground mining. (See Table 1 and Table 2 on the following pages). When the new management team joined six months ago, focus was shifted from the previous open pit mining scenario towards developing higher grade, underground resources. Operations can be re-started within a potentially shorter time-frame by using the existing underground infrastructure. Higher grade resources will maximize the profitability of the current processing facilities. Future operations will be more profitable, less disruptive and easier to re-permit by starting initial production within the existing footprint of the project. Derek White, President and CEO of Ascot Resources commented, “This resource will be the first step in a series of resource developments, which we believe will add significant ounces with each resource update. Our principal business objective is to maximize the utilization of the existing infrastructure, specifically with regard to the mill throughput of up to 3,000 tonnes per day. Currently we are drilling in the Big Missouri area as part of our next resource update. We remain extremely excited about the prospect of adding resources to re-start operations.” The Company identified various areas to develop higher grade resources based on the existing drill spacing across the property. The development of additional high-grade resources will take place in a series of steps. This maiden high-grade resource was developed in the Premier-Northern Lights area only, in the southern part of the property where the existing drill spacing was close enough to define underground resources. | |
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