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Ascot Resources Ltd.
Summary
| Project: | Red Mountain | |
|---|---|---|
| Deposit: | Red Mountain | |
| Location: | Canada | |
| Commodities: | Silver-Gold | |
| Date: | 5/22/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 22-5-2020: Ascot Resources Ltd. announces a Feasibility Study report for its Red Mountain deposit at the Red Mountain project. Feasibility Study results incl. post-tax NPV (5%) of C$341M and IRR of 51%. Ascot Resources Limited (Ascot or the Company) is a | |
| Resources: | (Reserves, P+P): 2.544Mt @ 6.52g/t Au, 20.6g/t Ag | |
| CP/QP: | [Overall Report]: Sue Bird (Bird Resource Consulting Company) | |
| ABSTRACT: | Ascot Resources Limited (Ascot or the Company) is a Canadian-based exploration and development company based in Vancouver, Canada. Shares of Ascot are currently traded on the Toronto Stock Exchange and the OTCQX. Ascot is focused on re-starting the past producing Premier Gold mine located near Stewart, British Columbia. This Feasibility Study is based on four underground mining operations feeding 2,500 tonnes per day (t/d) to the existing processing facility at Premier. The four mining operations known as Silver Coin, Big Missouri, Premier and Red Mountain will be sequenced over an 8-year period to initially produce 1.1 million troy ounces (Moz) of gold and 3.0 Moz of silver. The Silver Coin, Big Missouri, and Premier deposits, collectively being named the Premier Gold Project (PGP) are located near the processing facility on the historical Premier Mine site, and the Red Mountain Project (RMP) is located 23 km to the southeast in an adjacent valley. The projects benefit from existing road access, historical under ground mining infrastructure, a mill processing facility, the nearby Long Lake Hydro power plant, a tailings storage facility (TSF), a water treatment plant, and mine waste stockpile infrastructure resulting in a low initial capital refurbishment cost. | |
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