Ascot Resources Announces 2018 Drill Program at Premier-Dilworth
VANCOUVER, British Columbia, April 18, 2018 (GLOBE NEWSWIRE) -- Ascot Resources Ltd (TSX.V:AOT) (“Ascot” or the “Company”) is pleased to announce that its 2018 drill program commenced on April 17. The 2018 drill program will comprise of approximately 45,000 metres in 200 drill holes, targeting infill and expansion in various areas on the Premier-Dilworth property. The Company has been working with RPA Inc. on completing the updated resources estimate for early May, which will contain the maiden higher-grade resources in the Premier- Northern lights area.
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Proposed Drilling
Two drill rigs will initially focus on the 602 Zone located below the existing level 6 portal near the Premier mine. The 602 program comprises 15 drill holes designed to infill the existing drill pattern for engineering studies planned in 2018.
The majority of Ascot’s 2018 drill program will be conducted in the Big Missouri area, which is on the northern part of the property. Snow clearing is currently taking place on the road towards Big Missouri and Martha Ellen. The drill program will ramp up to involve a total of seven rigs operating simultaneously. The overarching objective of the program is to add additional high-grade resources that can be incorporated into the planned engineering studies. Approximately 80 drill holes will be targeted on high-grade areas near the S1 pit at Big Missouri.
In addition to these high-grade areas, Ascot has identified four other zones with potential for near surface open pit resources. These are the Province, North Star, S1-Northeast and Martha Ellen areas. Other high-grade targets for evaluation include the Indian, Sebakwe and Lesley Flat zones.
To date there has been approximately 628,000 metres of drilling, encompassing 6,110 drill holes, which have primarily targeted the Premier mine, the Big Missouri mine, Martha Ellen and Dilworth areas of the property with 1 in every 10 holes hitting over 1 ounce of gold per tonne. Only 30% of the property has been explored to date with the majority of drilling concentrated around Premier and Big Missouri.
Ascot Resources has qualified to trade on the OTCQX, and as of April 19, the Company will be listed under the following symbol: AOTVF, providing Ascot with increased visibility with US investors, improved liquidity and a more diversified shareholder base.
Ascot is also pleased to announce the launch of its new corporate web site, at www.ascotgold.com. The new web site features up-to-date information on the Company’s mining assets as well as quick and easy access to other relevant corporate information.
For more information about the Company, please refer to the Company’s profile on SEDAR at www.sedar.com.
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
About Ascot Resources Ltd.
Ascot Resources is a gold and silver focused exploration company with a portfolio of advanced and grassroots projects in the Golden Triangle region of British Columbia. The company’s flagship Premier Project is a near-term high-grade advanced exploration project with large upside potential. Ascot is poised to be the next Golden Triangle producer with an experienced and successful exploration, development and operating team, coupled with a highly regarded major shareholder.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy 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 anticipated use of proceeds of the Offering, the Company’s 2018 drill program, and 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.
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/b361f70c-d6bb-4bae-bf05-4a1657ba1b1f