Ascot Resources Ltd. (TSX-V: AOT) (OTCQX: AOTVF) is pleased to announce excellent drill results from the past-producing Premier mine located northwest of Stewart, BC. Five holes intersected robust mineralization down-dip from historically mined stopes.
Highlights of this release include:
Derek White, President and CEO of Ascot Resources commented, “The Premier mine continues to deliver high-grade gold mineralization. With only 50% of assay results received from over 45,000 metres of drilling completed this season on the property, we continue to anticipate strong results through Q4 2019. Additionally, we are very excited about several of our property-wide, grass root exploration targets currently being drilled. I will be hosting an investor call next week to discuss Ascot’s exploration plans. Please see details below to join the company-wide conference call.”
Drill Results from 602 Zone at Premier Deposit
This news release presents the results from five drill holes targeting the 602 Zone, totalling 1,509 metres of drilling, completed from one drill pad at the western end of the Premier deposit (see Figure 1). The results from these drill holes are summarized in Table 1 and the pad location is listed in Table 2.
Our technical team noticed a gap in the previous drilling and decided to drill five holes in the 602 zone, which the Company views as one of the most robust resource areas of the Premier deposit and is located near the mill facilities. All holes intersected quartz breccia and stockwork hosting gold mineralization. Drill hole P19-2013 encountered 24.45 g/t Au and 43.2 g/t Ag over 8.43m comprising one of the most robust intercepts in the deposit to-date. In the immediate footwall to the high-grade gold and silver, from 279.80 to 295.29m in P19-2013, a sulphide breccia zone averaged 2.45 g/t Au 91.5 g/t, Ag 3.28% Pb and 10.86% Zn over 15.49m. Significant base metals were recovered during historic mining operations at Premier.
Figure 1 – 3D perspective of 602 drill results
A photo accompanying this announcement is available at
Table 1 Summary of drill results from the 602 zone at Premier1
|Hole #||pad||azimuth/dip||From (m)||To||Width||Au||Ag|
1True width is believed to be approximately 70-90% of reported intercepts.
2Footwall sulphide breccia from 279.80 to 295.29m, 2.45 g/t Au 91.5 g/t, Ag 3.28% Pb and 10.86% Zn over 15.49m.
Table 2 Drill pad location
|Pad #||UTM N||UTM E||Elevation||Hole no.|
Quality Assurance/Quality Control
Lawrence Tsang, P. Geo, the Company’s Senior Geologist provides the field management for the Premier exploration program. John Kiernan, P. Eng., Chief Operating Officer of the Company is the Company’s Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
Analytical work is being carried out by SGS Canada Inc (“SGS”). Ascot’s quality-assurance and quality-control program includes the use of analytical blanks to monitor for cross contamination, certified reference material standards to assess analytical accuracy, and duplicate samples to quantify sampling precision. This is in addition to the internal quality assurance program employed by SGS.
Samples are dried and weighed by SGS. They are then crushed to 75% passing 2mm, with 250g split and pulverized to 85% passing 75µm. Samples are processed on site by a mobile lab supplied by SGS and run by SGS personnel. All splits are sent to SGS in Burnaby. There, all samples are digested using aqua-regia with an ICP-AES finish and fire assay with AA finish for gold. Samples over 100ppm silver are digested with aqua regia and then volumetrically diluted before an ICP-AES or AA finish (up to 1,500ppm). Samples over 1,500ppm silver are fire assayed with a gravimetric finish. Samples over 10ppm gold are fire assayed with a gravimetric finish. Identified or suspected metallic gold or silver are subjected to “metallics” assays. Sampling and storage are at the Company’s secure facility in Stewart.
About Ascot Resources Ltd.
Ascot is a Canadian-based junior exploration company focused on re-starting the past producing historic Premier gold mine, located in British Columbia’s Golden Triangle. The Company continues to define high-grade resources for underground mining with the near-term goal of converting the underground resources into reserves, while continuing to explore nearby targets on its Premier/Dilworth and Silver Coin properties (collectively referred to as the Premier project). Ascot’s acquisition of IDM Mining added the high-grade gold and silver Red Mountain project to its portfolio and positions the Company as a leading consolidator of high- quality assets in the Golden Triangle.
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We acknowledge the [financial] support of the Government of Canada.