United States Forest Service ("USFS") Issues Final Decision Notice on Mt. Margaret
VANCOUVER, British Columbia, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Ascot Resources Ltd (TSX-V:AOT) (“Ascot” or the “Company”) is pleased to announce that the United States Forest Service (“USFS”) recently released a Final Decision Notice & Finding of No Significant Impact related to two prospecting permits that were submitted by Ascot USA Inc (a wholly owned subsidiary of Ascot Resources Ltd) regarding its Mt. Margaret property, a porphyry copper-molybdenum-gold-silver deposit located 22.5 km southwest of Randle, Washington in Skamania county.
Previously the USFS had released a Draft Decision Notice on August 24, 2017, followed by a 45-day administrative review process. The decision is based on the detailed analysis of potential environmental impacts that are contained within a Modified Environmental Assessment related to the prospecting permits.
The USFS decision provides consent to the Bureau of Land Management (“BLM”) to issue two hardrock mineral prospecting permit applications on National Forest System lands. Ascot will now wait for the BLM to issue its decision regarding whether to issue the prospecting permits. The BLM decision is also subject to a 45-day appeal period.
Derek White, President & CEO, commented, “The USFS final decision is based on a comprehensive review that assessed all potential environmental issues arising from of our exploration and prospecting plans for the Mt. Margaret deposit and found no significant impacts. We are pleased with the USFS final decision.”
ASCOT RESOURCES LTD.
Per: Derek C. White
Derek C. White, President and CEO
For further information contact:
Kristina Howe
VP, Investor Relations
T: 778-725-1060
E: khowe@ascotgold.com
Ascot Resources Limited.
Suite 1500-505 Burrard Street
Vancouver, BC V7X 1M5
(778) 725-1060 info@ascotgold.com
(SEDAR filings: Ascot Resources Ltd.)
For more information on Mt Margaret and Ascot’s proposed program please go the Company’s website www.ascotgold.com.
About Ascot Resources Ltd.
Ascot Resources is a focused gold and silver explorer 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. With an experienced and highly regarded major shareholder, coupled with an experienced and successful exploration team, Ascot is poised to be the next Golden Triangle producer.
____________________
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.