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Ascot Resources Ltd.
Summary
| Project: | Premier | |
|---|---|---|
| Deposit: | Premier | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 5/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing PEA | |
| Report details: | 29-5-2018: Ascot Resources Ltd. announces an Exploration/Drilling Update report for its Premier deposit at the Premier project. Drilling results incl. 9.61m @ 24.64g/t Au from 340.0m. VANCOUVER, British Columbia, May 29, 2018 -- Ascot Resources Ltd (TSX.V | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Graeme Evans (Independent) | |
| ABSTRACT: | VANCOUVER, British Columbia, May 29, 2018 -- Ascot Resources Ltd (TSX.V:AOT) (OTCQX:AOTVF) (“Ascot” or the “Company”) is pleased to announce initial drilling results of the first eleven holes from the 602 zone at the Company’s flagship Premier-Dilworth project. Several holes intercepted wide intervals of high-grade gold mineralization including 12.1m of 11.65g/t gold (“Au”) in hole P18-1605 and 9.61m of 24.64g/t gold in hole P18-1609. Derek White, President and CEO of Ascot Resources commented, “Ascot is encouraged with these recent infill drill results in terms of both thickness and grade in the 602 zone. This helps to build our confidence in the robustness of our geological model, the planned mining approach and associated mining methods that will be used in the 602 zone. Given the positive results, the company is considering additional drilling in this area.” The Company is working towards recommencing underground production at the Premier site near Stewart, B.C., using existing facilities and infrastructure (mill, power and tailings facilities, underground development, and road access). As a first step, the Company completed a maiden underground resource at Premier/Northern Lights and reported the results on May 7, 2018. The next step is currently in progress and includes the 2018 drill program that commenced on April 16, 2018. The program is designed to extend mineralized zones at Premier/Northern Lights, converting existing resources from inferred to indicated in existing zones (including the 602 zone), and delineate high-grade zones in the Big Missouri/Martha Ellen area located 5 km further north. The overall purpose is adding to the existing resource base to support initial engineering studies. The 2018 drill campaign commenced with an infill program at the 602 zone in the Premier/Northern Lights area located on the southern part of the property. The infill program consists of 15 drill holes and is now complete. The 602 zone, which has not been previously mined, is likely to be accessed first in a re-start scenario due to its proximity to the main underground portal. The drill holes generally intercepted the targeted zones at the projected depth and confirm the robustness of the modeled zones that underpin the recently completed resource. The wide intercepts in holes P18-1604 and P18-1605 increased the width of the modeled zone (see below Figures 1 and 2 for plan and cross section views) while drill holes P18-1620 and P18- 1622 intercepted mineralization in the hanging wall of the main 602 body and will likely extend the hanging wall subzone laterally in the next resource update for the 602 zone. | |
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