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Ascot Resources Ltd.
Summary
| Project: | Premier | |
|---|---|---|
| Deposit: | Premier | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 1/15/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 15-1-2020: Ascot Resources Ltd. announces a Resource Estimation report for its Premier deposit at the Premier project. Resource update - Indicated resource increase by 60%. VANCOUVER, British Columbia, Jan. 15, 2020 -- Ascot Resources Ltd (TSX: AOT; OTCQX | |
| Resources: | (Resource): 4.141Mt @ 8.25g/t AuEq. (Ind.) and 5.061Mt @ 7.45g/t AuEq. (Inf.) | |
| CP/QP: | [Resources]: Sue Bird (Bird Resource Consulting Corp.) | |
| ABSTRACT: | VANCOUVER, British Columbia, Jan. 15, 2020 -- Ascot Resources Ltd (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce an updated Resource Estimate for the Premier Gold Project (“PGP”) including the Silver Coin, Big Missouri and Premier deposits (see Table 1 below). The Company, previously released an updated Red Mountain Project (“RMP”) Resource Estimate dated November 22, 2019. Since late 2017, Ascot management turned its focus towards developing high-grade underground resources. Starting with limited high-grade underground resources, Ascot now has a substantial amount of high-grade resources from four deposits, which could feed the centrally located Premier mill (see Figure 1 below). In 2019, the Company completed over 53,000 metres of drilling, of which 43,000 metres was focused on an infill drill program to improve the confidence level and classification of the Premier Gold Project resource from the Inferred Category to the Indicated Category. The Company now has an updated NI 43- 101 compliant Resource Estimate for the Premier Gold Project based on this drilling. Derek White, President and CEO of Ascot commented, "I am pleased with our progress and the large increase in tonnage, grade and contained gold and silver in the Indicated Category at the Premier Gold Project. We convincingly achieved our goal of rapidly creating a strong base of Measured and Indicated Resources as the basis for developing a mine plan for the project. We have scheduled the release of our feasibility study by the end of March, 2020." | |
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