Ascot Intercepts 32 g/t Over 10.7 Metres and Multiple Occurrences of Visible Gold at the Big Missouri Deposit
Ascot Resources Ltd.
Responsibly advancing the high-grade, fully-permitted Premier Gold Project in northwest B.C. | TSX: AOT OTCQX: AOTVF
Vancouver, B.C. October 27, 2022 — Ascot Resources Ltd.?(TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the second batch of assay results at the Big Missouri deposit from the 2022 exploration drill program at the Company’s Premier Gold Project (“PGP” or the “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 Big Missouri deposit, approximately six kilometres north of the past-producing Premier mill.
Highlights from the drill results include:
Drilling has been completed for the 2022 exploration season at the Big Missouri deposit for a total of 50 holes and 4,752 metres. Following the first batch of 15 drill holes outlined in the News Release dated September 13, 2022, this release summarizes the second batch of assay results from the next 13 drill holes for a total of 1,265 metres from surface pads BM–1/22 and BM–2/22. Drill holes were targeting several layers of gold mineralization at the A Zone of the Big Missouri deposit in and around planned stopes to the north of the S-1 pit.
Derek White, President and CEO of Ascot commented,?“As drilling has recently wrapped up for this year’s exploration season, we continue to receive high-grade assay results from the Big Missouri deposit. The headline intercept of 32 grams per tonne over 11 metres included a bonanza-grade intercept of 330 grams per tonne over 1 metre which contained coarse, visible gold. While we are pleased with these high grades, we are even more encouraged that the majority of the intercepts were encountered within or close to existing block model wireframes and in potential extensions of those wireframes, further validating the resource model at the Premier Gold Project. Combined with our recently announced positive grade reconciliation results from the underground development sampling program, this bolsters our confidence in the quality of the resource model.”
An overview of drill hole locations is shown in Figure 1 and a cross section is shown in Figure 2. Following the completion of the previously released 15 holes from pad BM–1/22, a further 10 holes were drilled from the same pad, mostly towards the east. In this release are also the assay results from the first 3 holes drilled from pad BM–2/22, which is approximately 15 metres northeast from pad BM–1/22.
The results are headlined by hole P22-2428 which intercepted 330.00 g/t Au and 192.00 g/t Ag over 1.00m, within a broader interval of 31.92 g/t Au and 22.21 g/t Ag over 10.69m, starting from a depth of 90.00m. This high-grade intercept occurs inside a pre-existing wireframe and along a potential extension of a planned stope shape following the dip of the mineralization in that area. This drill intercept also encountered visible gold as shown in Figure 3. The reported width of the mineralized interval of 10.69m is supported by anomalously high sulfur and base metals as well as a background gold grade in excess of 1 g/t outside of the 330 g/t sub-interval.
Further support is shown in Figure 2 where the new drill holes intercepted high-grade gold within the boundaries of planned stope shapes, reinforcing the current wireframe geometry. This is showcased by the 21.70 g/t Au and 19.65 g/t Au intercepts in hole P22-2430, the 11.70 g/t Au intercept in hole P22-2429, and the 5.27 g/t Au intercept in hole P22-2428.
An additional 5 holes were drilled from the pad BM–2/22, with assay results pending. Another 13 holes were drilled from a third surface pad to the north, and 4 holes were drilled from a fourth pad to the south. Drilling was recently completed from surface at the Day Zone on the western side of the Big Missouri ridge, where a total of 12 holes were drilled.
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Figure 1–?Plan view of Big Missouri A Zone drilling
Figure 2–?North-looking cross section view of Big Missouri A Zone drilling from pad BM–2/22
Figure 3–?Visible gold in hole P22-2428 in the 1.0m interval grading 330.00 g/t Au and 192.00 g/t Ag
Figure 4–?Visible gold in hole P22-2430