Ascot Resources (TSX: AOT)
Announced initial positive grade reconciliation between muck samples and the block model grade from underground development at the Company’s Premier Gold Project, located in the prolific Golden Triangle of northwestern British Columbia. .
.
.
Ascot Resources – Big Missouri portal
.
.
| Ascot Resources | TSX : AOT |
| Stage | Development |
| Metals | Gold |
| Market cap | C$178 m @ $0.41 |
| Location | Golden Triangle, British Columbia |
.
.
Vancouver, B.C. October 17, 2022 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce initial positive grade reconciliation between muck samples and the block model grade from underground development 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 underground development sampling at the Big Missouri deposit, approximately six kilometres north of the past-producing Premier mill.
.
Highlights from the grade reconciliation program include:
- Combined results from ore drives 1 and 2 yielded overall 9% positive grade reconciliation from muck samples compared to the resource block model
- As expected, the Company encountered high variability in development round grades often associated with high-grade epithermal gold deposits
- Initial results suggest good potential to increase mined grades by continuously improving external mining dilution
.
.
Derek White, President and CEO of Ascot commented;
“The ability to commence underground development this year has been transformative for Ascot.
“Mining development rates have exceeded expectations, benefiting from good rock quality.
“In accessing the first stoping areas in the A Zone of the Big Missouri deposit, we continue to enhance our understanding of the mineralization at the Premier Gold Project.
“We are especially pleased that in our initial underground sampling, notwithstanding a high degree of variability as expected with this style of mineralization, we have had 9% positive reconciliation on gold grade compared to the block model.
“In addition, by continuously improving our mining selectivity, we believe the mined grades can be further improved.”
.
.
Underground development progress
The Big Missouri deposit hosts a probable reserve of 809 kt grading 7.15 g/t Au and 12.2 g/t Ag and containing 186 koz Au and 317 koz Ag, an indicated resource of 1,116 kt grading 8.36 g/t Au and 16.9 g/t Ag and containing 300 koz Au and 607 koz Ag, and an inferred resource of 1,897 kt grading 8.34 g/t Au and 14.7 g/t Ag and containing 508 koz Au and 896 koz Ag.
These reserves and resources are outlined in the NI 43-101 technical report entitled “Premier & Red Mountain Gold Project Feasibility Study NI 43-101 Technical Report, British Columbia”, dated May 22, 2020, with an effective date of April 15, 2020.
.
To read the full news release, please click HERE
.
=======
.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
.
Disclosure
At the time of writing the author holds shares in Ascot Resources, bought in the market at the prevailing price on the days of purchase.
.
.