- Ascot Resources (TSX:AOT) has reported the first set of assay results from its 2023 exploration program at the Premier Gold Project in British Columbia
- The company said results are from surface drilling for in-fill and exploration purposes at the Prew Zone
- Highlights include intercepts of 32.9 grams per ton (g/t) gold over 4.90 metres
- Shares of Ascot Resources are down 1.85 per cent to C$0.43 as of 10:49 a.m. ET
Ascot Resources (TSX:AOT) has announced the first set of assay results from its 2023 exploration program at the Premier Gold Project in British Columbia’s Golden Triangle.
In a news release, the Vancouver-based company said results are from surface drilling for in-fill and exploration purposes at the Prew Zone.
Some of the highlights include:
- 32.85 g/t Au and 216.18 g/t Ag over 4.90m from a depth of 273.1m in hole P23-2468, including 165.00 g/t Au and 940.00 g/t Ag over 0.90m
- 23.37 g/t Au and 54.28 g/t Ag over 6.52m from a depth of 253.48m in hole P23-2465, including 148.50 g/t Au and 315.00 g/t Ag over 0.95m
- Both high-grade intercepts from holes P23-2468 and P23-2465 occurred outside existing stope shapes and therefore imply stope extensions.
“The 2023 exploration program is off to a great start, with two drill holes intercepting high-grade gold mineralization outside of existing stope shapes. This indicates strong potential for additional mineralization to be converted into near-term mine plans. The Prew Zone was initially delineated in 2017 and is where we plan to start production mining at the Premier deposit in early 2024,” Derek White, CEO of Ascot Resources, said in a statement.
Exploration at the Prew Zone included 16 drill holes for a total of 5,355 metres from two pads located between the Premier mill and the old Premier pit.
Ascot Resources said that the first four drill holes from this year’s program targeted the eastern part of the Prew Zone, and mineralization was generally encountered at expected depths with two outstanding zones of mineralization in the direct projection of existing stope designs up dip and along strike.
Ascot is focused on restarting the past-producing Premier gold mine, located on Nisga’a Nation Treaty Lands, in British Columbia’s prolific Golden Triangle.
Shares of Ascot Resources are down 1.85 per cent to C$0.43 as of 10:49 a.m. ET.
Join the discussion: Find out what everybody’s saying about this stock on the Ascot Resources Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.