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Ascot Resources Ltd.
Summary
| Project: | Premier | |
|---|---|---|
| Deposit: | Premier | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 8/11/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-8-2016: Ascot Resources Ltd. announces an Exploration/Drilling Update report for its Premier deposit at the Premier project. Drilling results incl. 71.10m @ 2.81g/t Au, 119.9g/t Ag, 0.24% Zn from 85.80m. The Premier property covers more than one hundre | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Graeme Evans (Not stated) | |
| ABSTRACT: | The Premier property covers more than one hundred square kilometres near the town of Stewart in northwest BC, and includes the old Premier Mine, a past producer of 2.1 MOz Au and 44.9 MOz Ag. In its latest set of results from its 2016 drill program the Company announces hole P16- 1047 in the Glory Hole area which intersected an uncut average of 69.40 g/t gold and 2,300.0 g/t silver over a core length of 1.34 meters within a broader interval grading 5.93 g/t Au and 175.0 g/t Ag over 20.50 meters. The Glory Hole area is the heaviest mined portion of the Premier system yet a large amount of higher grade material was left unmined as shown by these new results. Historic production data is incomplete but during 1922-1928 mining in the Glory Hole area produced 1.20 MT grading approximately 28.6 g/t Au and 600 g/t Ag. With its recent $20 million financing Ascot has expanded its drill program to test a much larger portion of the Premier system. At present, four of the five Ascot rigs are testing the central Northern Lights portion of the system on 60 to100 meter centers. This area, which is approximately 900 meters north of the Glory Hole area, has seen relatively little exploration. Early results are encouraging and include 53.00 g/t Au over 1.00 meter in P16-1038 and 52.80 g/t Au over 1.30 meters in P16-1049. | |
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