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Ascot Resources Ltd.
Summary
| Project: | Red Mountain | |
|---|---|---|
| Deposit: | Red Mountain | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 10/31/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 31-10-2019: Ascot Resources Ltd. announces a Resource Estimation report for its Red Mountain deposit at the Red Mountain project. Updated mineral resource estimate. VANCOUVER, British Columbia, Oct. 31, 2019 -- Ascot Resources Ltd (TSX: AOT; OTCQX: AOTVF) | |
| Resources: | (Resource, M+I): 3.19Mt @ 7.63g/t Au, 21.02g/t Ag at Red Mountain | |
| CP/QP: | [Resources]: Gilles Arseneau (Arseneau Consulting Services Ltd.) | |
| ABSTRACT: | VANCOUVER, British Columbia, Oct. 31, 2019 -- Ascot Resources Ltd (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the results of an updated mineral resource estimate for its 100%-owned Red Mountain Gold Project (“Red Mountain” or the “Project”), located near the Company’s Premier Project close to the town of Stewart, BC. The updated mineral resource estimate includes the results from 40 drill holes completed during Q4 2018. The resource estimate is authored by Dr. Gilles Arseneau, P.Geo. (of Arseneau Consulting Services, “ACS”) with input from Ascot’s technical team. This is the first step in the process of progressing studies for both the Red Mountain Project and the Premier Project to feasibility level with targeted completion in the first quarter of 2020. This new resource estimate contains almost 200,000 additional ounces of gold in the Measured and Indicated (“M&I”) categories compared to the 2017 feasibility study for Red Mountain. The substantial increase warrants an updated economic evaluation at feasibility level. | |
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