Ascot intersects 20.06 g/t gold over 3.23 metres at Premier West

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Ascot Resources Ltd. [AOT-TSX; AOTVF-OTCQX] has reported high-grade gold results from the first seven drill holes (1,930 metres) of the 2020 season at the 100%-optioned historic Premier gold mine, located in northwestern British Columbia’s Golden Triangle.

The drill site is strategically located to the west of the Premier West deposit, potentially adding to existing resources outlined in the feasibility study. The significance of this prospective corridor is further highlighted by high gold grades in surface grab samples farther along strike to the west at Hope, Cascade Creek and Woodbine.

Highlights include 20.06 g/t gold over 3.23 metres in hole P19-2193 and 9.21 g/t gold over 6 metres in hole P19-2183. A grab sample from Cascade Creek returned 16.25 g/t gold, 205 g/t silver and 0.43% copper.

In early June, 2020, the company started drilling on the area west of the Premier open pit. Mineralization occurs in several areas at surface over a strike length of nearly two kilometres, namely at: the Premier mill road; the Hope zone at the Granduc road; the Cascade Creek valley; and the Woodbine prospect.

Derek White, President and CEO, said: “We are pleased with these initial high-grade results close to the Premier deposit. As we move to restarting production, these potential resources have obvious implications for extending the mine life at low cost. We are mobilizing a second rig in the beginning of August in order to accelerate drill testing of our exciting targets. We continue to be impressed by the potential for discovery of new deposits on our landholdings. Initial drilling has been focused on lower-elevation targets, and as the weather conditions improve, we will drill at higher elevations, including our high-grade silver targets at Silver Hill.”

Ascot Resources is focused on restarting the past-producing Premier gold mine.True width is estimated to be 70% 90% of reported intervals. The drill holes were targeted perpendicular to the expected zone orientation. Refer to company press release for more assays.


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