Ascot Resources finds more gold in BC’s Golden Triangle

The Premier Gold Project is located 25 kilometres from the town of Stewart, British Columbia and Hyder, Alaska in the prolific Golden Triangle. Source: Ascot Resources

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Ascot Resources Ltd. [AOT-TSX; AOTVF-OTCQX} announced additional gold intercepts at the Day Zone at its 100%-owned Premier Gold Project north of Stewart in northwestern British Columbia Golden Triangle region.

The new drill holes have extended previously reported mineralization 150m to the north. Mineralization is open along strike to the north and the south. The Day Zone is located on the Big Missouri Ridge, approximately 5 km north of the Premier mill. Additionally, an update is provided on two drill holes at Silver Hill.

Highlights from the Day Zone include 23.20 g/t gold and 9.6 g/t silver over 2.00 metres in hole P20-2263 as well as 2.31 g/t gold and 125.1 g/t silver over 5.93 metres in hole P20-2271

This news release summarizes the results from nine drill holes (for a total of 1,874m) at the Day Zone at Big Missouri and two drill holes (763m) from Silver Hill.

Derek White, President and CEO of Ascot, commented, “The new results from the Day-2 drill pad extend the mineralized zone to the north and further demonstrate the prospectivity of the west side of the Big Missouri Ridge. Mineralization remains open to the north and south providing us with a great opportunity to add to our resources in proximity to planned underground development.

Although the Silver Hill drilling did not intercept ore grade material, the presence of elevated silver in the volcanic package just below the transition to sedimentary rocks is encouraging and requires follow-up drilling.”

The 2020 drilling in the Day Zone area now indicates that gold mineralization is present throughout the entire width of the Big Missouri Ridge. The extent of mineralization to the north and the south will require drill testing to extend the mineralization in this highly prospective exploration area.

The exploration program at Silver Hill started with drill testing narrow high-grade silver occurrences at the edge of much younger dykes in a stratigraphic position that is prospective for VMS style mineralization. Geophysical data was collected along four profiles and outlines large areas of high chargeability.

The 2020 drilling successfully intercepted anomalous silver away from the edges of dykes but associated with hydrothermal quartz-carbonate-pyrite veins confirming the prospectivity of the rock package. The company will design an exploration program covering a larger area and expanding from the narrow strip of ground that has been drill tested to date.

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