Ascot Resources Ltd. (TSX: AOT | OTCQX: AOTVF) has received its first batch of assay results from the 2023 exploration drill programme at the Premier Gold Project, located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. These results are from surface drilling for in-fill and exploration purposes at the Prew Zone in the Premier deposit, southeast of the Premier mill.
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
Derek White, president, and CEO of Ascot commented, “The 2023 exploration programme 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 first four drill holes from this year’s programmes 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 (hole P23-2465), and along strike (hole P23-2468), respectively.
One new pierce point inside a stope shape encountered a younger dike and one projected pierce point intercepted a base metal zone with anomalous gold. Assays are pending for the remaining 12 holes drilled at the Prew Zone, including hole P23-2480 which intercepted visible gold from a depth of 292m.
Mr. White continued, “The Prew Zone was initially delineated in 2017 and is where we plan to start production mining at the Premier deposit in early 2024. With additional assays pending from the Prew Zone including from holes that intercepted visible gold, we are eager to release additional results as we receive them in the coming weeks.”
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