John Toffan, President and CEO, reports Ascot Resources Ltd. [AOT-TSXV] has released more encouraging drill results from its 100 km2+ Premier property near the town of Stewart in northwest British Columbia that includes the old Premier Mine, a past producer of 2.1 million ounces gold and 44.9 million ounces silver.
Highlights include Hole P15-882, in the Lunchroom subzone, that intersected an uncut average of 23.85 g/t gold over a core length of 15.50 metres. The highest value in this intersection was a 0.90-metre interval which graded 367.00 g/t gold. This release covers results for an additional 13 holes of the 76 holes drilled to date in the Lunchroom subzone in a program designed to determine the bulk sample potential of the high grade. With recent drilling it has been recognized the Lunchroom subzone is an anomalous flat-lying zone with a moderate west dip, along a flat porphyry/andesite contact. This model suggests drill intersections are largely true thicknesses and this zone remains open on strike to both the east and west. True widths are generally believed to be 70 to 90% of intersected widths in the Premier area.
Earlier drill results in the program returned 284.00 g/t gold over 1.0 metre, 257 g/t over 1.0 metre, 880 g/t over 1.0 metre and 1,009.5 g/t over 0.90 metres.
Drilling will continue with two diamond drill rigs, results will be released as they become available. Ascot to date has drilled 34,932 metres in 164 holes in 2015 with drilling continuing. Detailed results table, locations and figures can be viewed at the company’s website at www.ascotresources.ca