VANCOUVER, Nov. 18, 2019 - Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the results from nineteen (19) drill holes completed in the Prew zone of Ascot’s Premier Gold Project (“Premier”) near Stewart in northwestern British Columbia.
Highlights of this release include:
37.95g/t Au over 5.03m in hole P19-2153
8.14g/t Au over 13.03m in hole P19-2156
8.39g/t Au over 8.75m in hole P19-2151
The Prew zone was discovered in 2017 and these new high-grade intercepts will contribute to the process of upgrading resources from the inferred to the indicated category in the upcoming resource update for the project.
The Company has completed approximately 52,400m of drilling at Premier in 2019 and reported results from just over 60% of the drill holes to date.
Derek White, President and CEO of Ascot commented, “Impressive drill results such as these reinforce our confidence in the Premier deposit. From a technical viewpoint, these results demonstrate our ability to predict the position of mineralized zones in the deposit. The intercepts are close to where they were expected and the high-grade nature of the mineralization confirms the quality of the Prew zone overall. We are very excited to conduct a new resource estimate at Premier which will then feed into a feasibility study for the project. We anticipate to be very busy until the end of 2019 and into the beginning of next year until the study is complete.”
Drill Results
This news release presents the results from 19 drill holes, comprising 5948 metres of drilling, completed from six separate pads into the Prew zone at the Premier deposit. All 19 drill holes intercepted mineralized quartz breccias with 12 reported intervals in excess of 10g/t Au. The results from these drill holes are summarized in Table 1 and the pad locations are listed in Table 2.
The Prew zone is located in the northeastern part of the Premier deposit and forms the down-dip continuation of the Ben zone. Both zones were discovered by extensive drilling in 2017. On subsequent inspection following the Premier resource estimate in 2018 (see news release from December 3, 2018) it was determined that there was a gap in the drill pattern that prevented a high-grade portion of the Prew zone from achieving classification in the indicated category. The drill holes reported in this release were targeted on this gap and will be utilized to re-classify the entire zone in the next iteration of resource estimates for Premier.
Figure 1 Image of the historical Premier mine area showing the mill building and the location of the drill pads described in this release. The Prew zone is striking northeast as outlined by the intercepts in the drill holes. Pad locations are listed in Table 2.
Figure 1 https://ascotgold.com/site/assets/files/4736/2019-11-18-aot-fig1.png
Table 1 Summary of drill results from the Prew zone at Premier
Hole # pad azimuth/dip From (m) To
(m) Width
(m) Au
(g/t) Ag
(g/t)
P19-2124 Prew4 135/-48 281.43 287.43 6.00 11.48 43.3
incl. 284.43 287.43 3.00 21.92 81.7
P19-2125 Prew4 135/-52 288.26 291.46 3.20 9.11 30.2
incl. 289.26 290.26 1.00 11.61 56.5
P19-2126 Prew4 135/-59 286.03 289.77 3.74 7.27 6.4
incl. 288.77 289.77 1.00 20.60 7.0
P19-2127 Prew4 135/-66 277.36 279.78 2.42 5.23 36.5
P19-2128 Prew4 135/-70 289.93 293.63 3.70 3.08 3.3
also 297.42 304.90 7.48 6.27 4.0
incl. 297.42 298.42 1.00 33.80 12.0
P19-2129 Prew4 135/-78 289.09 292.90 3.81 2.33 1.7
incl. 291.90 292.90 1.00 5.49 3.0
P19-2134 Prew1 135/-53 282.36 284.36 2.00 1.02 1.0
P19-2140 Prew1 135/-62 203.63 204.83 1.20 1.84 5.0
also 248.80 252.80 4.00 3.56 4.5
P19-2143 Prew1 135/-78 243.53 244.53 1.00 7.36 3.0
P19-2146 Prew2 135/-58 291.47 292.70 1.23 3.47 6.0
also 294.45 295.45 1.00 1.63 2.0
P19-2147 Prew2 135/-68 271.57 272.57 1.00 67.20 31.0
also 277.05 278.05 1.00 2.74 4.0
P19-2151 Prew6 142/-55 300.14 308.89 8.75 8.39 12.1
incl. 300.14 301.06 0.92 45.50 55.0
P19-2152 Prew6 135/-68 292.17 296.3 4.13 7.99 20.1
P19-2153 Prew6 122/-81 223.88 227.32 3.44 5.78 18.6
also 290.52 295.55 5.03 37.95 25.5
incl. 292.90 294.84 1.94 93.00 55.0
P19-2155 Prew5 135/-47 288.78 291.61 2.83 38.44 277.2
also 300.00 301.00 1.00 3.87 6.0
also 306.00 309.20 3.20 4.97 18.1
also 317.50 318.70 1.20 6.72 11.0
P19-2156 Prew5 135/-51 287.14 300.17 13.03 8.14 22.5
incl. 288.34 289.43 1.09 32.50 106.0
and 292.63 293.63 1.00 39.40 67.0
P19-2157 Prew5 135/-59 283.66 285.66 2.00 1.23 12.5
P19-2160 Prew3 135/-66 276.00 277.50 1.50 4.17 3.0
also 283.00 285.00 2.00 2.36 2.0
P19-2161 Prew3 135/-81 258.50 260.00 1.50 1.38 3.0
also 266.50 267.50 1.00 1.17 4.0
True width is believed to be approximately 70-90% of reported intercepts. The drill holes that are missing in the sequence do not yet have complete assays and will be reported when all assays are available.
Table 2 Drill pad locations
Pad # UTM N UTM E Elevation Hole no.
Prew1 6213300 437192 543 2134, 2140, 2143
Prew2 6213260 437147 548 2146, 2147
Prew3 6213244 437132 547 2160, 2161
Prew4 6213225 437120 543 2124-2129
Prew5 6213210 437109 544 2155-2157
Prew6 6213188 437092 543 2151-2153
Ascot Appoints Advisor to the Board
Ascot is also pleased to announce that it has appointed Mr. Yale Simpson as an advisor to the Board. His primary responsibilities will be to advise the Board on strategy and communicating exploration and development objectives to the investment community. Yale Simpson has a Bachelor of Applied Science (Geological Engineering) from the University of British Columbia. Yale has more than 40 years experience as a senior geologist, exploration manager and CEO of companies involved in precious metals projects in Australia, Africa, Eastern Europe and South America. Those companies included Pennzoil Company, Chevron Exploration, Australmin Holdings, Argosy Mining Corp. and Black Swan Gold Mines Ltd. Yale was a founder and co-Chairman of Extorre Gold Mines Ltd. when it was purchased by Yamana Gold Ltd. in 2012. In 2017 he was a founder and co-Chairman of Exeter Resource Corporation when it was purchased by Goldcorp Inc. He is currently a director of Rugby Mining Ltd., Adamera Minerals Corp., and Carube Copper Corporation.
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.
For more information about the Company, please refer to the Company’s profile on SEDAR at www.sedar.com or visit the Company’s web site at www.ascotgold.com, or for a virtual tour visit www.vrify.com under Ascot Resources.
ON BEHALF OF THE BOARD OF DIRECTORS OF
Ascot Resources Ltd.
“Derek C. White”, President and CEO
For further information contact:
Kristina Howe
VP, Investor Relations
778-725-1060 / khowe@ascotgold.com |
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