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Ascot Resources Ltd.
Summary
| Project: | Premier | |
|---|---|---|
| Deposit: | Premier | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 12/3/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 3-12-2018: Ascot Resources Ltd. announces a Resource Estimation report for its Premier deposit at the Premier project. Updated mineral resource estimate at the project. VANCOUVER, British Columbia, Dec. 03, 2018 -- Ascot Resources Ltd (TSX.V: AOT; OTCQX: | |
| Resources: | (Resource): 2.780Mt @ 7.46g/t Au, 26.2g/t Ag (Ind.), 6.03Mt @ 7.18g/t Au, 24.0g/t Ag (Inf.) | |
| CP/QP: | [Resources]: David Rennie, Sue Bird, Sean Butler (Roscoe Postle Associates Inc.;Moose Mountain Technical Services) | |
| ABSTRACT: | VANCOUVER, British Columbia, Dec. 03, 2018 -- Ascot Resources Ltd (TSX.V: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce an updated resource estimate for its flagship Premier Project (including the formerly separate Premier, Dilworth and Silver Coin properties) in British Columbia’s Golden Triangle. The resource includes high-grade zones from the Premier and Northern Lights, Big Missouri (including North Star, Province and Unicorn), Martha Ellen, Dilworth and Silver Coin areas (see Figure 1). The outlines of these zones were modeled with a potential high-grade underground scenario in mind. Ascot management had previously stated its strategy towards developing high-grade underground resources with the announcement of its maiden underground resource on May 10, 2018 in the southern part of the property where the existing drill spacing was close enough to define underground resources. The 2018 drill program was designed to target high-grade areas at the Big Missouri ridge and define zones that could be modeled at the same cut-off grade that was utilized at Premier/Northern Lights. Additional drill holes were planned at the western edge of the Premier/Northern Lights area. The increase in the resource from that particular area is due to successful extension of mineralization towards the west and northwest. The resource reported in this release now reflects all areas with sufficient drill spacing for resource modeling on the property. Derek White, President and CEO of Ascot Resources commented, “Management worked hard to develop a series of resources in 2018 and I am very pleased to announce a significant increase to our high-grade resources during the year. This is an outstanding achievement for the company in a very short time frame. These results combined with our efforts to identify new targets for exploration utilizing Induced Polarization geophysics and improved gold recoveries from metallurgical test work, provide for a very optimistic outlook for Ascot. We will continue to focus on developing our engineering studies around three spatially separate potential mining areas diversifying the production risk. Our principal business objective is to maximize the utilization of the existing infrastructure, specifically with regard to the mill throughput and I remain very optimistic about Ascot’s future success.” | |
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