Mr. Derek White reports
DRILLING AT ASCOT'S PREMIER PROPERTY EXTENDS GOLD MINERALIZATION 150 METRES WEST TOWARDS UNDERGROUND PORTAL
Drilling to the west of the 602 and 609 zones at Ascot Resources Ltd.'s Premier property has extended mineralization 150 metres from the resource area (see news release of May 10, 2018). Drilling at Big Missouri continues to add high-grade gold intercepts. Highlights of this release include:
20.0 metres of 8.04 grams per tonne gold and 21.4 grams per tonne silver in hole P18-1743 at the western extension of Premier; 6.0 metres of 11.49 grams per tonne goldand 9.3 per tonne silver in hole P18-1812 at the western extension of Premier; 6.8 metres of 13.8 grams per tonne goldand 9.4 per tonne silver in hole P18-1753 at the Big Missouri zone; 7.2 metres of 20.67 grams per tonne goldand 24.92 per tonne silver in hole P18-1755 at the Big Missouri zone.
Derek White, president and chief executive officer of Ascot Resources, commented: "The extension of mineralization in the 602 and 609 zones towards the west near the level 6 underground portal is particularly significant as planned mining will commence in that area during the restart of operations. The continued flow of high-grade intercepts from Big Missouri bodes well for the wire-framing of high-grade zones for our resource update later this year. Along with the recently reported geophysical survey success, Ascot's future outlook is bright."
The company has existing facilities and infrastructure, including a mill building, tailings facility, underground infrastructure and a power line. The current drill program is being conducted to expand the existing resource base to support engineering studies that commenced in the second quarter of 2018.
This news release summarizes the results from 13 drill holes in the western part of Premier and 14 drill holes at Big Missouri and Unicorn, located five kilometres to the north.
Western extension of Premier (602 and 609 zones)
During the process of modelling the mineralized zones at Premier for the high-grade resource (see news release May 10, 2018), it was apparent that mineralization at the western edge of the 602 and 609 zones was not closed off by drilling. As a result, multiple drill holes were designed to test for a continuation of mineralization in this area close to the underground portal. A total of 13 drill holes were completed to test the extent of mineralization in this direction. All but one (P18-1814) hit breccia zones with gold mineralization. The drill holes extended mineralization approximately 150 metres to the west from the previous reported extents.
The results show that the subvertical 609 zone persists toward the west with several high-grade hits. The extension of the deeper 602 zone appears to be less pronounced. This area will have to be explored further as the westernmost hole (P18-1812) intercepted six metres of high-grade mineralization, demonstrating that the zone is still open toward the west. This area will be a priority focus for resource expansion.
Drill results from the western extension of Premier are summarized inan attached table as follows.
SUMMARY OF THE DRILL RESULTS FROM THE WESTERN EXTENSION OF PREMIERHole No.FromTo WidthAuAgAuEq (m) (m) (m) (g/t) (g/t) (g/t)P18-1743216.00253.60 37.604.4212.84.51Including 230.00250.00 20.008.0421.48.18Including 234.50245.50 11.00 13.5635.1 13.80Including 234.50237.002.50 41.2151.0 41.56P18-1744295.00296.001.003.65 7.03.70P18-1745282.55303.00 20.451.00 6.11.04Including 297.00301.004.002.22 7.52.27P18-1746326.85336.009.153.5718.23.69Including 332.00335.003.006.5727.36.75Including 334.00335.001.00 12.2920.0 12.43P18-1783317.10321.104.001.21 8.51.27P18-1784306.00312.006.000.9926.01.17P18-1809174.50188.00 13.501.76 4.31.79Including 180.00186.006.003.75 6.33.79Including 180.00181.001.00 10.3211.0 10.39214.00218.504.504.1714.84.27Including 217.50218.501.009.0425.09.21P18-1810194.50197.503.001.34 9.71.41also234.70237.703.001.3921.61.54P18-1811230.00234.004.001.44 3.51.46Including 258.00263.005.002.5415.02.64Including 262.00263.001.005.4019.05.53P18-1812211.30235.00 23.703.99 6.84.04Including 227.00233.006.00 11.49 9.3 11.55Including 227.00229.002.00 23.3513.0 23.44P18-1813283.00285.002.001.07 6.01.11P18-1814No significant interceptP18-1825289.20290.201.002.0910.02.16Notes: Gold equivalence was calculated using a ratio of 65:1 (silver/gold) and silver recovery of 45.2 per cent. True width is believed to be approximately 80 per cent to 90 per cent of reported intercepts.
Big Missouri
Three holes (P18-1753, P18-1754 and P18-1755) were drilled from pad BM11, north of previously reported pads at Big Missouri. All three holes intercepted high-grade mineralization at the level of the Big Missouri zone between depths of 160 metres to 200 metres. The high grade in these three holes may constitute another high-grade trend to the north of the established trend that is centred on the S1 pit. Ascot will investigate this with further drilling.
Four more holes (P18-1756 andP18-1758 to P18-1760) were drilled from pad BM16. Three of the holes intercepted mineralization close to surface in the Province zone. All four holes hit mineralization at the Big Missouri zone 150 metres deeper and P18-1760 was drilled deep enough to also hit the deep level at around a depth of 320 metres. This third level of mineralization has not been tested significantly and its exact extents are unknown. When operations at Big Missouri commence, it will be much easier to test this level from underground locations.
SUMMARY OF THE DRILL RESULTS FROM THE BIG MISSOURI ZONEHole No.From ToWidth Au Ag AuEq(m)(m)(m)(g/t)(g/t)(g/t)P18-1753175.00 201.0026.00 3.965.1 3.99Including 192.00 198.80 6.8013.809.713.87Including 193.00 194.00 1.0081.23 29.081.43P18-1754181.60 208.6027.00 1.754.9 1.78Including 203.00 204.60 1.6021.46 12.021.54P18-1755159.00 178.0019.00 2.36 21.4 2.50Including 162.85 170.00 7.15 5.31 52.3 5.66Also184.80 192.00 7.2020.67 24.920.83Including 184.80 186.00 1.2047.70 37.047.95Including 190.00 192.00 2.0040.41 47.040.73P18-17561.5218.0016.48 1.786.9 1.83Including14.0015.60 1.6012.43 25.012.60Also165.00 173.00 8.00 2.212.7 2.23Including 171.00 173.00 2.00 5.362.0 5.37P18-17584.00 5.50 1.50 3.135.0 3.16P18-1759159.00 224.5065.50 1.235.2 1.27Including 200.00 222.4922.49 2.119.3 2.17Including 200.00 202.00 2.0011.21 12.011.29P18-17601.52 9.00 7.48 1.136.2 1.17Also179.00 226.0747.07 1.304.4 1.33Including 206.00 218.0012.00 3.459.3 3.51Including 207.95 211.68 3.73 6.47 20.0 6.61Also318.00 319.00 1.00 2.574.0 2.60Notes: Gold equivalence was calculated using a ratio of 65:1 (silver/gold) and silver recovery of 45.2 per cent. True width is believed to be approximately 80 per cent to 90 per cent of reported intercepts.
Unicorn
Seven additional holes were completed from two pads in the Unicorn zone to the north and northeast of the S1 pit. Mineralization at Unicorn occurs relatively close to surface and is hosted in stockwork with less pronounced breccia development. Hole P18-1757 intercepted mineralization at two different elevations, a feature that is common for the Big Missouri area and appears to hold true at Unicorn. There is generally more faulting in the area, and it is possible that individual drill holes intercept the same horizon more than once due to structural duplication. Drill results from the Unicorn zone are summarized in an attached table as follows.
SUMMARY OF THE DRILL RESULTS FROM THE UNICORN ZONEHole No.From ToWidth Au Ag AuEq(m)(m)(m)(g/t)(g/t)(g/t) P18-1747 11.0039.2828.28 1.556.4 1.59Including28.0030.00 2.0016.70 10.016.77 P18-1748 61.6583.0021.35 1.25 16.4 1.36Including62.5570.20 7.65 2.179.2 2.23P18-1749 43.50 103.7060.20 1.203.6 1.22Including46.5071.5025.00 2.104.6 2.13Including69.5071.50 2.0010.115.010.14 P18-1750 38.6054.0015.40 0.95 18.0 1.07Including41.7546.75 5.00 2.11 21.8 2.26P18-1751 45.0048.00 3.00 2.425.7 2.46P18-1752 No significant interceptP18-1757 56.4565.85 9.40 1.529.4 1.58Including56.4559.75 3.30 2.279.0 2.33Also117.00 120.00 3.00 1.60 13.7 1.69 Notes: Gold equivalence was calculated using a ratio of 65:1 (silver/gold) and silver recovery of 45.2 per cent. True width is believed to be approximately 80 per cent to 90 per cent of reported intercepts.
Quality assurance/quality control
Lawrence Tsang, PGeo, the company's project geologist, provides the field management for the Premier exploration program. John Kiernan, PEng, chief operating officer of the company, is the company's qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
Analytical work is being carried out by SGS Canada Inc. 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 SGS.
Samples are dried and weighed by SGS. They are then crushed to 75 per cent passing two millimetres, with 250-gram split and pulverized to 85 per cent passing 75 micrometres. Since early June, samples are crushed and split on site by a mobile lab supplied by SGS and run by SGS staff. All samples are digested using aqua regia with an ICP-AES finish and fire assay with AA finish for gold. Samples over 100 parts per millionsilver are digested with aqua regia and then volumetrically diluted before an ICP-AES or AA finish (up to 1,500 parts per million). Samples over 1,500 parts per million silver are fire assayed with a gravimetric finish. Samples over 10 parts per milliongold are fire assayed with a gravimetric finish. Identified or suspected metallic gold or silver are subjected to metallic assays. Sampling and storage are at the company's secure facility in Stewart.
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.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.