Drill news out.....some high grade hits.... from Big Mississouri - infill / stope definition - probably nothing for SP movement.
BG
ORIGINAL: Ascot Intercepts High-Grade Gold at the Big Missouri Deposit Including 27.5 g/t Gold Over 8.0 Metres and 36.4 g/t Gold Over 4.7 Metres
2022-02-22 07:00 ET - News Release
VANCOUVER, British Columbia, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) ("Ascot" or the "Company") is pleased to announce the remaining assay results from the 2021 drill program at the Company's Premier Gold Project ("PGP") located in the Golden Triangle of northwestern British Columbia. These drill holes targeted areas of early stopes at the Big Missouri deposit with the aim of refining stope geometry and orientation as well as expanding stope shapes where possible and gathering additional grade information. The drill holes intercepted gold mineralization at or near defined stope shapes with numerous high-grade assays as high as 184.5 g/t gold.
Highlights from the drill results include:
- 27.52 g/t Au and 11.40 g/t Ag over 8.00m from a depth of 68.4m in hole P21-2379, including 66.70 g/t Au and 14.20 g/t Ag over 2.00m
- 36.36 g/t Au and 24.1 g/t Ag over 4.65m from a depth of 56.4m in hole P21-2373, including 184.50 g/t Au and 80.50 g/t Ag over 0.90m. The interval is carried by the high-grade assay, but the width of the mineralized zone has been selected considering base metal and sulfide content in addition to gold and silver.
- 10.04 g/t Au and 15.91 g/t Ag over 7.00m from a depth of 139.8m in hole P21-2358, including 14.70 g/t Au and 22.33 g/t Ag over 4.00m
- 7.25 g/t Au and 4.57 g/t Ag over 6.00m from a depth of 212.1m in hole P21-2363, including 19.00 g/t Au and 6.10 g/t Ag over 2.00m
Derek White, President and CEO of Ascot commented, "Big Missouri is the first deposit Ascot is planning to mine this year and these high-grade drill results will assist the Company in optimising initial mining activities. It is encouraging to see that the projected stope shapes have been generally confirmed, and in many cases extended, as we suspected they would with additional drilling.
With a headline intercept of nearly an ounce per tonne gold over eight metres and with assays as high as 184.5 g/t gold, the future bodes well for the underground development at Big Missouri. The Company continues to expect to convert Resources into Reserves as additional drilling from surface and underground provides more detailed information on the optimal mining shapes."
Big Missouri Drill Results
This release summarizes the assay results from 36 surface drill holes for a total of 6,010 metres at the Big Missouri deposit which were drilled in September and October 2021. Figure 1 illustrates the location of six drill pads around the S1 pit at Big Missouri. Figure 2 shows a 3D cross section illustrating the general results of the definition drilling.
Gold was intercepted at or close to the expected elevations which is critical for correct planning of the development drifts. Gold grades vary from bonanza grade to highly anomalous which is an expected result in a coarse gold system where some drill holes do not intercept coarse gold particles. The mineralized zones are indicated by the presence of quartz breccia or stockwork with highly anomalous gold grades and anomalous amounts of associated base metals such as lead and zinc.
These new drill holes tighten the drill spacing in these areas and provide additional pierce points from which to refine the stope shapes. The orientation and exact geometry of the stopes will be modified in some areas as new wire frames and block models are being generated to fine tune the mine plan for the start of production.
Upcoming Conference Participation
Ascot will be participating in two precious metals investor conferences next week, with the following details:
- Sunday, February 27th - Stansberry Research Annual Gold Stock Analyst Investor Day in Fort Lauderdale, Florida. President & CEO Derek White will be presenting alongside twelve other precious metals companies. Ascot's presentation will start at 9:55am ET on Sunday, February 27th.
- Sunday, February 27th to Wednesday, March 2nd - BMO 31st Global Metals & Mining Conference in Hollywood, Florida. Ascot will be available for one-on-one meetings with investors throughout the conference, and Derek White will be presenting at 9:15am ET on Wednesday, March 2nd. A presentation webcast link will be made available on Ascot's website.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1575bcb8-fd88-4695-af40-1d079d8c211e
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/367f64b8-b0e2-433d-8b98-bd3095460645
Table 1- Big Missouri drill results
| Hole # | Azimuth
/dip | From
(m) | To
(m) | Width
(m) | Au
(g/t) | Ag
(g/t) |
| P21-2379 | 170/-50 | 54.50 | 76.35 | 21.85 | 11.32 | 8.5 |
| incl. | | 68.35 | 76.35 | 8.00 | 27.52 | 11.4 |
| incl. | | 68.35 | 69.35 | 1.00 | 69.60 | 40.1 |
| incl. | | 74.35 | 76.35 | 2.00 | 66.70 | 14.2 |
| P21-2378 | 190/-45 | 52.50 | 58.74 | 6.24 | 3.72 | 11.3 |
| incl. | | 52.50 | 53.60 | 1.10 | 15.65 | 27.3 |
| and | | 66.44 | 72.94 | 6.50 | 3.04 | 6.4 |
| incl. | | 67.94 | 68.94 | 1.00 | 14.85 | 8.9 |
| and | | 81.92 | 82.92 | 1.00 | 3.92 | 5.9 |
| and | | 84.92 | 88.92 | 4.00 | 5.19 | 8.6 |
| and | | 93.87 | 94.87 | 1.00 | 2.93 | 4.4 |
| P21-2377 | 200/-45 | 63.29 | 64.29 | 1.00 | 5.48 | 8.4 |
| and | | 71.94 | 81.56 | 9.62 | 3.25 | 12.9 |
| incl. | | 71.94 | 74.12 | 2.18 | 9.74 | 39.0 |
| and | | 89.44 | 91.44 | 2.00 | 2.07 | 11.6 |
| and | | 97.44 | 99.44 | 2.00 | 1.84 | 12.7 |
| P21-2376 | 210/-50 | 59.90 | 63.50 | 3.60 | 1.18 | 3.3 |
| and | | 76.65 | 77.65 | 1.00 | 1.01 | 14.9 |
| and | | 83.65 | 90.53 | 6.88 | 0.99 | 3.0 |
| P21-2375 | 245/-65 | 51.95 | 53.90 | 1.95 | 0.63 | 6.0 |
| P21-2374 | 295/-68 | 54.90 | 55.90 | 1.00 | 1.32 | 22.9 |
| P21-2373 | 350/-70 | 43.75 | 48.20 | 4.45 | 1.77 | 21.1 |
| and | | 56.40 | 61.05 | 4.65 | 36.36 | 24.1 |
| incl. | | 57.30 | 58.20 | 0.90 | 184.50 | 80.5 |
| P21-2372 | 140/-60 | 38.31 | 43.31 | 5.00 | 1.82 | 10.7 |
| P21-2371 | 180/-60 | 35.31 | 36.95 | 1.64 | 1.37 | 3.2 |
| and | | 43.76 | 44.76 | 1.00 | 7.49 | 6.3 |
| P21-2370 | 210/-70 | 37.70 | 39.76 | 2.06 | 1.90 | 5.7 |
| P21-2369 | 350/-62 | 200.20 | 204.50 | 4.30 | 1.84 | 3.0 |
| and | | 218.40 | 222.40 | 4.00 | 4.51 | 17.3 |
| P21-2368 | 0/-67 | 74.70 | 75.80 | 1.10 | 2.18 | 3.5 |
| and | | 184.00 | 184.85 | 0.85 | 1.08 | 1.4 |
| P21-2367 | 15/-75 | 197.45 | 202.45 | 5.00 | 1.95 | 10.1 |
| and | | 209.45 | 211.45 | 2.00 | 1.03 | 7.5 |
| P21-2366 | 23/-63 | 180.76 | 181.76 | 1.00 | 2.98 | 14.2 |
| and | | 196.20 | 197.80 | 1.60 | 3.42 | 1.8 |
| P21-2365 | 28/-70 | 183.30 | 206.30 | 23.00 | 1.86 | 7.2 |
| incl. | | 203.30 | 206.30 | 3.00 | 3.99 | 13.6 |
| P21-2364 | 28/-58 | 192.00 | 194.00 | 2.00 | 4.81 | 5.3 |
| and | | 208.60 | 212.60 | 4.00 | 1.04 | 5.6 |
| P21-2363 | 35/-45 | 212.10 | 218.10 | 6.00 | 7.25 | 4.6 |
| incl. | | 212.10 | 214.10 | 2.00 | 19.00 | 6.1 |
| P21-2362 | 45/-47 | 201.25 | 202.55 | 1.30 | 2.43 | 20.4 |
| and | | 207.65 | 208.30 | 0.65 | 1.47 | 15.4 |
| and | | 217.30 | 219.30 | 2.00 | 4.79 | 1.5 |
| and | | 221.30 | 222.70 | 1.40 | 2.31 | 12.7 |
| P21-2361 | 60/-70 | 6.18 | 8.18 | 2.00 | 1.96 | 3.1 |
| and | | 11.52 | 20.37 | 8.85 | 1.11 | 3.9 |
| and | | 154.53 | 163.68 | 9.15 | 1.51 | 8.5 |
| incl. | | 157.58 | 158.58 | 1.00 | 5.67 | 24.1 |
| P21-2360 | 65/-63 | 13.67 | 14.67 | 1.00 | 1.03 | 3.5 |
| and | | 18.96 | 20.06 | 1.10 | 5.96 | 15.5 |
| and | | 154.90 | 157.27 | 2.37 | 4.07 | 11.4 |
| P21-2359 | 75/-50 | 3.40 | 9.53 | 6.13 | 1.02 | 8.1 |
| and | | 19.60 | 20.97 | 1.37 | 1.57 | 8.7 |
| and | | 26.97 | 28.97 | 2.00 | 1.13 | 2.8 |
| and | | 42.25 | 43.35 | 1.10 | 1.23 | 25.2 |
| and | | 44.12 | 45.23 | 1.11 | 1.58 | 80.3 |
| P21-2358 | 85/-80 | 4.93 | 6.93 | 2.00 | 6.86 | 8.4 |
| and | | 17.93 | 19.93 | 2.00 | 1.69 | 6.8 |
| and | | 139.09 | 150.83 | 11.74 | 6.83 | 15.4 |
| incl. | | 139.83 | 143.83 | 4.00 | 14.70 | 22.3 |
| P21-2357 | 85/-70 | 17.17 | 19.10 | 1.93 | 5.27 | 16.7 |
| and | | 148.28 | 158.49 | 10.21 | 2.23 | 6.0 |
| P21-2356 | 85/-60 | 5.54 | 9.23 | 3.69 | 1.43 | 3.1 |
| and | | 16.97 | 17.97 | 1.00 | 1.23 | 7.9 |
| and | | 155.53 | 159.53 | 4.00 | 0.50 | 6.2 |
| P21-2355 | 85/-54 | 4.70 | 6.70 | 2.00 | 1.88 | 4.3 |
| and | | 10.70 | 15.63 | 4.93 | 1.23 | 4.1 |
| and | | 21.24 | 23.24 | 2.00 | 2.54 | 5.2 |
| and | | 38.98 | 40.98 | 2.00 | 1.19 | 10.4 |
| and | | 159.62 | 160.32 | 0.70 | 1.86 | 1.2 |
| P21-2350 | 92/-71 | 66.34 | 68.34 | 2.00 | 2.76 | 21.0 |
| and | | 136.00 | 137.00 | 1.00 | 5.09 | 5.1 |
| and | | 180.75 | 182.75 | 2.00 | 1.10 | 1.8 |
| P21-2349 | 85/-66 | 132.80 | 134.52 | 1.72 | 16.40 | 18.3 |
| P21-2348 | 75/-61 | 98.62 | 99.62 | 1.00 | 2.42 | 4.9 |
| P21-2347 | 15/-74 | 137.28 | 138.33 | 1.05 | 1.17 | 3.5 |
| and | | 141.29 | 142.34 | 1.05 | 1.31 | 98.1 |
| and | | 148.44 | 149.44 | 1.00 | 1.62 | 33.6 |
| and | | 151.49 | 152.58 | 1.09 | 4.62 | 5.2 |
| and | | 160.63 | 161.63 | 1.00 | 1.37 | 2.9 |
| and | | 190.16 | 191.11 | 0.95 | 1.28 | 2.1 |
| and | | 192.11 | 193.11 | 1.00 | 1.75 | 2.7 |
| and | | 194.90 | 196.23 | 1.33 | 1.24 | 5.3 |
| P21-2346 | 125/-80 | 27.49 | 29.50 | 2.01 | 1.72 | 1.8 |
| and | | 35.50 | 37.50 | 2.00 | 2.11 | 1.8 |
| and | | 165.50 | 171.00 | 5.50 | 2.31 | 4.6 |
| P21-2345 | 160/-75 | 4.00 | 6.00 | 2.00 | 1.93 | 211.0 |
| and | | 23.50 | 25.00 | 1.50 | 1.13 | 3.3 |
| and | | 158.25 | 159.75 | 1.50 | 1.52 | 4.7 |
| and | | 164.47 | 167.00 | 2.53 | 1.55 | 3.7 |
| and | | 177.00 | 178.00 | 1.00 | 1.19 | 1.7 |
| P21-2344 | 200/-82 | 175.72 | 177.00 | 1.28 | 1.01 | 2.8 |
| P21-2343 | 200/-78 | 13.00 | 14.33 | 1.33 | 1.32 | 2.3 |
| and | | 22.00 | 25.00 | 3.00 | 1.54 | 7.0 |
| and | | 180.21 | 190.00 | 9.79 | 4.82 | 7.6 |
| incl. | | 188.00 | 189.00 | 1.00 | 15.55 | 24.4 |
| and | | 198.50 | 206.35 | 7.85 | 1.10 | 3.5 |
| P21-2342 | 250/-83 | 22.85 | 24.50 | 1.65 | 1.33 | 3.7 |
| and | | 176.00 | 177.68 | 1.68 | 1.04 | 9.2 |
| P21-2341 | 276/-82 | 32.00 | 34.00 | 2.00 | 3.03 | 7.6 |
| P21-2340 | 295/-82 | 22.15 | 24.00 | 1.85 | 1.39 | 8.2 |
| and | | 188.00 | 190.00 | 2.00 | 1.20 | 4.4 |
Note: Drill holes were aimed roughly perpendicular to the zone of mineralization. True width for individual intervals is estimated to range from 70-95% of the reported intervals.
Table 2 - Drill pad locations
| Pad # | UTM N | UTM E | Elevation (masl) | Hole no. |
| STP1 | 6219205 | 436343 | 1064 | P21-2347 to P21-2350 |
| STP2 | 6219269 | 436348 | 1072 | P21-2355 to P21-2361 |
| STP3 | 6219282 | 435293 | 1076 | P21-2340 to P21-2346 |
| STP4 | 6219398 | 435292 | 1083 | P21-2362 to P21-2369 |
| STP5 | 6219302 | 436514 | 988 | P21-2370 to P21-2372 |
| STP6 | 6219525 | 436510 | 1007 | P21-2373 to P21-2379 |
Qualified Person
Lawrence Tsang, P.Geo., the Company's Senior Geologist provides the field management for the PGP 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.
Quality Assurance/Quality Control
Analytical work is being carried out by ALS Canada Ltd. ("ALS"). 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 ALS.
Samples are dried and weighed by ALS. They are then crushed to 75% passing 2mm, with 250g split and pulverized to 85% passing 75microm. Samples are processed at the ALS preparation lab in Terrace and sent to ALS in North Vancouver for analysis. There, all samples are dissolved using four acid digestion 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 is located at the Company's secure facility in Stewart.
On behalf of the Board of Directors of Ascot Resources Ltd.
"Derek C. White"
President & CEO
For further information contact:
David Stewart, P.Eng.
VP, Corporate Development & Shareholder Communications
dstewart@ascotgold.com
778-725-1060 ext. 1024
About Ascot Resources Ltd.
Ascot is a Canadian-based junior exploration and development company focused on re-starting the past-producing Premier gold mine, located in British Columbia's prolific Golden Triangle. Ascot shares trade on the TSX under the ticker AOT. Concurrent with progressing the development of Premier, the Company continues to successfully explore its properties for additional high-grade underground resources. Ascot is committed to the safe and responsible development of Premier in collaboration with Nisga'a Nation as outlined in the Benefits Agreement.
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.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information