Ascot Resources Ltd [AOT-TSX; AOTVF-OTCQX] reported spectacular high-grade gold intercepts from the second batch of 10 drill holes (for a total of 2,820 metres) from Premier West at the company’s Premier Project in the Golden Triangle region of northwestern British Columbia.
The results from these drill holes add to the strong results reported in the news release of July 29, 2020. The impressive gold grades are close to the proposed mining areas outlined in the feasibility study, adding significant value to the project.
Highlights of this release include 13.74 g/t gold over 24.15 metres in hole P20-2202, including 40.78 g/t gold over 6.00 metres in the same hole; 15.75 g/t gold over 4.50 metres in hole P20-2197; and 9.91 g/t gold over 4.25 metres in hole P20-2203.
In early June, Ascot started exploring the area west of the existing Premier deposit and reported initial results on July 29, 2020. The results in this release demonstrate the successful systematic tracing of high-grade mineralization even further to the west. Significant strike length is yet to be explored. Additional drilling has been conducted with assay results pending.
Derek White, President and CEO of Ascot, commented, “Drilling at Premier West has again discovered very high-grade gold mineralization to the northwest of the 609 and 602 resource zones at Premier. These impressive results are rewarding our commitment to continued exploration on this property. Despite difficult weather conditions we have two rigs operating on our less accessible, higher elevation targets at Silver Hill and the Day Zone. Drill core logs from these targets show alteration and sulfide mineralogy commonly associated with precious metal mineralization in the area with assays pending. Congratulations to the Ascot exploration team for continuing successful exploration efforts and growing the Company’s resources to the west of Premier. At the same time, we are making great progress on advancing the Project towards production.”
The aim of the exploration program to the west of Premier is to determine the connection between the various occurrences such as the Hope Zone, the Power Zone and the Woodbine prospect further west.