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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 21, 2017) – Ascot Resources Ltd. (TSX VENTURE:AOT) – The Premier property covers more than one hundred square kilometres near the town of Stewart in northwest BC, and includes the old Premier Mine, a past producer of 2.1 MOz Au and 44.9 MOz Ag.
Highlights of Release:
- In this fifth set of results for 2017, the Northern Lights main zone continues to deliver good results. Most holes in this release come from the newly discovered Ben Subzone in the upper southeast portion of the Northern Lights main zone. Included in this release are P17-1378 which returned 80.90 g/t Au over 2.20 meters within a wider zone grading 17.03 g/t Au over 11.00 meters and P17-1388 which returned several high grade intervals within a zone grading 18.93 g/t Au over 11.00 meters. This new discovery of a higher grade in the Ben subzone has a general gentle west plunge and has been traced for a plunge length of 500 meters and remains open in both plunge directions. This zone has a general width of 200 meters and once all initial results are in, the area will be infill drilled for resource definition purposes.
- A new subzone is being defined below the Ben Subzone with a similar gentle westerly plunge. Recent results from this zone include P17-1313 with 70.70 g/t Au over 1.00 meter within a wider interval grading 10.31 g/t Au over 11.90 meters. New results in this release include holes P17-1367 and P17-1374. This subzone also remains open up dip and has been traced for 400+ meters of plunge length with a general width of 100-150 meters. This subzone will also be infill drilled, later in the season, for resource definition purposes.
- A series of exploration drill holes are presently testing, in large 0.5 to 1.0 km step outs, prospective areas on the property that have the potential to expand the mineralized sheets. This includes areas in the Premier Mine area North and West of Sebakwe and areas potentially linking Big Missouri and Martha Ellen and extensions West on Martha Ellen. The previously defined pittable resources in the Big Missouri, Martha Ellen and Dilworth had only tested 30% of the potential target area.
New drill highlights include:
|P17-1367||New Subzone NL||262.00||359.00||97.00||0.94||0.94||4.2||0.27|
|P17-1374||New Subzone NL||237.00||279.56||42.56||1.13||1.13||10.3||0.10|
|P17-1381||New Subzone NL||252.00||330.00||78.00||0.95||0.95||5.4||0.50|
True widths are believed to be 70-90% of intersected widths in the Premier area. (*) samples cut to 1opt or 34.29 g/t Au.
This release is the fifth for the 2017 season reporting 33 holes P17-1367-1398 (Hole 1350 also completed). At present, seven Ascot owned drill rigs are operating on the property. To date 225 holes have been completed in 70,795 meters of drilling. Fifty drill holes are presently pending results and results will be released as they become available. Detailed results table, locations and figures can be viewed at the following Ascot link: www.ascotgold.com
Graeme Evans, P. Geo and Lawrence Tsang, P. Geo provide the field management for the Premier exploration program. Graeme Evans, designated as the Qualified Person (QP) as defined by National Instrument 43-101 has prepared the technical information in this news release.
Quality Assurance/Quality Control
Analytical work is being carried out by ALS Lab Group. Quality assurance and quality control programs include the use of analytical blanks and standards and duplicates in addition to the labs own internal quality assurance program. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. Identified or suspected metallic gold or silver are subjected to “metallics” assays. Also for extreme high gold grades a concentrate analysis is performed with a fire assay and gravimetric finish accurate up to 999985 ppm Au limit (ALS Au-CON01) method. Sampling and storage are at the company’s secure facility in Stewart with bi-weekly sample shipments made to ALS Labs Terrace prep site.
On Behalf of the Board of Directors
ASCOT RESOURCES LTD.
John A. Toffan, President and Director
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation; statements regarding the exploration and mineralization potential of the Premier property, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Ascot’s expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Ascot does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
Ascot Resources Ltd.
Mon, 21 Aug 2017 13:00:00 GMT