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Ascot Resources Ltd.
Summary
| Project: | Premier | |
|---|---|---|
| Deposit: | Premier | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 7/21/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-7-2016: Ascot Resources Ltd. announces an Exploration/Drilling Update report for its Premier deposit at the Premier project. Drilling results incl. 41.02m @ 4.85g/t Au, 513.5g/t Ag, 0.15% Zn from 69.50m. 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- 1016 in the upper main zone which intersected an uncut average of 88.40 g/t gold and 9,640.0 g/t silver over a core length of 1.55 meters within a broader interval grading 4.85 g/t Au and 513.5 g/t Ag over 41.02 meters. The upper main area is returning very high silver values supporting historic results in this area. On April 20, 2016 the Company announced that the bulk of its drill program for 2016 would consist of definition drilling in the old Premier Mine area. The old Premier mine area represents only 7.5% of the target in the Premier system. With the $20 million financing announced July 11, 2016 the Company has now shifted its focus to exploring the entire Premier system. Two new drill rigs have been purchased and it is expected that the Company will shortly have five drill rigs working on the property. This aggressive level of exploration will be maintained for the balance of the 2016 drill season and on into the 2017 drill season. This release is the 3rd for the season reporting 30 holes P16-1001-1030, previous results were released on June 8th, 2016 and July 5th, 2016. Drilling is ongoing with three drill rigs on the Premier system and two more rigs are planned to start shortly, results will be released as they become available. Ascot has drilled 23,497 meters in 105 holes to date in 2016 | |
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