Ascot Resources (TSX: AOT)

After careful consideration, the Company has decided that, to enable sufficient mine development, it will suspend operations.

Ascot will focus on mine development until the combination of the Big Missouri and PNL mines can sustainably deliver enough ore feed to profitably run the operation. The Company’s intention is to seek funding to complete the necessary mine development.

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Ascot Resources – Big Missouri portal

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Vancouver, B.C., September 6, 2024 – Ascot Resources Ltd.  (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) today announced that over the period of the past two months, mill operations at the Company’s Premier Gold Mine have poured 3,430 oz of gold, which is 418% above the amount recorded over the entire second quarter.

Additionally, in August, the mill has operated near or above its design capacity.

The mill operations have progressed well; however, we believe that the amount of mine development at the Big Missouri mine has fallen behind schedule by approximately one to two months, and with the delay in the start of the Premier Northern Lights (“PNL”) ramp from July to December last year, PNL production is also delayed.

As a result, the number of stoping areas is not sufficient to provide enough production to adequately feed the mill. Although the Company is on track for first development ore at PNL this month, further development is required to access deeper ore than was initially planned, which will extend the timing to complete the development and ramp up of the PNL mine.

After careful consideration, the Company has decided that, to enable sufficient mine development, it will suspend operations. Ascot will focus on mine development until the combination of the Big Missouri and PNL mines can sustainably deliver enough ore feed to profitably run the operation. The Company’s intention is to seek funding to complete the necessary mine development.

The Company’s initial estimate is that approximately three to six months of development will be required to be undertaken, primarily at the PNL mine, subject to further investigation and cost determinations.

At the end of August, the Company had a cash resource of approximately C$15 million. This amount is expected to be sufficient to undertake proper suspension of operations for the oncoming winter season and ensure that the Company maintains all its environmental compliance programs.

 The Company is in discussions with its secured creditors regarding its obligations during the suspension period.

There is no certainty the Company will be able to raise the funds required to complete the necessary mine development work and to restart operations.

While the Company expects that operations will be sustained once restarted following development work, there is no certainty that this will be the case.

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Derek White commented:

“This is difficult news for all of our stakeholders, and especially all of our employees and contractors who have worked extremely hard during the commissioning period.

 

“The Company believes we need to focus on mine development to prioritize asset value and ensure we have the best path forward to sustainable and profitable operations.”

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To read the full news release please click HERE

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The live gold price can be found HERE

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

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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 no shares in Ascot Resources.

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Ascot Resources (TSX: AOT)

Announced second quarter production results and provides a commissioning update at the Company’s Premier Gold Mine (“Premier”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. 

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Ascot Resources Premier mine, Golden Triangle, British Columbia, Canada.

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. Vancouver, B.C. July 3, 2024 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF)(“Ascot” or the “Company”) announcesd second quarter production results and provides a commissioning update at the Company’s Premier Gold Mine (“Premier”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. Initial commissioning material was introduced into the grinding circuit of the mill on March 31, 2024, initial commissioning ore started to be processed on April 8, 2024, and first gold was poured on April 20, 2024. During the remainder of the quarter, the Company continued commissioning the mill, water treatment plant, and established the secondary underground egress at the Big Missouri deposit to commence production in its planned stoping areas. Many of the commissioning challenges encountered in the mill have been addressed, which is starting to demonstrate an increasing frequency and quantity of gold pours.   . SECOND QUARTER 2024 HIGHLIGHTS Established the second egress and exhaust vent raise at the Big Missouri deposit on June 18th Project to date development of 3,861 metres, of which 89% relates to Big Missouri and 11% relates to Premier Northern Lights (“PNL”) Second quarter development of 1,764 metres, of which 1,381 metres related to Big Missouri and 383 metres relates to PNL. Significant progress in the second half of the quarter has been made at PNL where the development rates have increased to over 6 metres per day The operation is moving from mining lower-grade commissioning ore from the development headings to mining of the planned higher-grade stoping areas. During the quarter, Ascot processed 85,436 dry tonnes of mostly development ore in the commissioning of the mill, containing an estimated total of 5,713 ounces of gold Poured 839 ounces of gold and 1,288 ounces of silver, and an estimated 3,178 ounces of gold-in-process remains in the mill circuit Sold 735 ounces of gold to the offtaker at an average realized price of US$2,357/oz (C$3,229/oz) Delivered 42 ounces of gold and 562 ounces of sliver per stream and royalty arrangements The Company addressed a number of commissioning issues in the mill related to the gravity circuit, elution circuit, and thickening process Cash balance at June 30, 2024 of approximately C$12 million     .. .Derek White, President & CEO, and Director commented, “Ascot progressed through many important milestones in the second quarter, including the start of processing commissioning ore in the mill, the first gold pour from the gravity circuit, and subsequent pours from the carbon-in-leach circuit as a part of the commissioning process.   “While various challenges were encountered within the mill startup, many corrective measures and changes have been made, resulting in an upward trajectory in processing reliability, throughput, and the ensuing gold pours.   “With stoping activity in higher-grade areas having started at the Big Missouri deposit, we anticipate a noticeable increase in gold pours in the very near term.”

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To View i-80 Gold’s historical news, please click here

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To read the full news release, please click HERE

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Live spot metal prices can be found HERE

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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

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,

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.

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Disclosure

At the time of writing the author holds shares in Ascot Resources.

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Ascot Resources  (TSX: AOT) 

Announced that the Company has closed the second of two tranches of the C$5 million non-brokered flow through private placement, the proceeds of which will be used to fund the 2024 exploration program at the Company’s Premier Gold Project in the prolific Golden Triangle of  British Columbia.

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Ascot Resources – Big Missouri portal

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Ascot Closes Final Tranche of C$5 Million Flow Through Private Placement

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Mining Review 28th April 2024

It’s been a busy week for our watchlist companies, with one deal disappearing as quickly as it came as Gold Road withdrew from the Greenstone Mines bid, and then Equinox Gold stepped in and took it for themselves.

G Mining Ventures announced a combination with Reunion Gold, based in Guyana.

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City Investors Circle Mining Review 28th April 2024

Gold and silver have had a poor week, but bounced and are now trading well off their respective lows.

Copper is still on a tear, as rumours of Chinese smelters being short of supplies abound.

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It’s been a busy week for our watchlist companies, with one deal disappearing as quickly as it came, as Gold Road withdrew from the Greenstone Mines bid, and then Equinox Gold stepped in and took it for themselves.

G Mining Ventures announced a combination with Reunion Gold, based in Guyana.

Colonial Coal have engaged Citigroup to act for them in their bid to find a buyer for their giant hard coking coal deposit in British Columbia. This is signifcant because Citigroup are involved in the recent activity regarding Tech and Glencore, and are well positioned to act in the sale of Colonial’s assets once the mega deals are done.

Ascot Resources reported the first gold pour at their Premier Gold mine in the Golden Triangle of British Columbia.

All the news from our watchlist companies is below, click on the links to be taken to the full story.

 Equinox Gold Consolidates Ownership of the Greenstone Gold Mine

  Calidus Resources positioned for a strong H2 FY2024

  Ascot Resources Poured First Gold at The Premier Mine

  Gold Road Ceasing Interest in Greenstone Gold Mines

  G Mining Ventures and Reunion Gold Announced a business Combination

  Global Mining Finance Spring Conference Line-up Announced

  Mining Review 21st April 2024

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Market Data

Weekly Price Changes

(US$ unless stated)

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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.

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Ascot Resources (TSX: AOT)

Poured first gold as a part of the commissioning process at the Premier gold project, located in the Golden Triangle of northwestern British Columbia.

The first gold pour was achieved from gold recovered through the gravity circuit.

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Ascot REsources Premier mine, Golden Triangle, British Columbia, Canada.

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To see the live Ascot Resources price and one year chart, please click here

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Ascot Resources pours first gold at Premier project

2024-04-22 07:30 ET – News Release

Mr. Derek White reports

ASCOT POURS FIRST GOLD DURING COMMISSIONING AT THE PREMIER GOLD PROJECT

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On April 20, 2024, Ascot Resources Ltd. (TSX: AOT) poured first gold as a part of the commissioning process at the Premier gold project, located on Nisga’a Nation Treaty Lands in the Golden Triangle of northwestern British Columbia.

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Derek White, president and chief executive officer, commented:

“The first gold pour is a hallmark commissioning milestone for Ascot, representing the culmination of years of hard work.

 

“We express our gratitude to our dedicated work force, our diligent contractors, our supportive shareholders and financiers, Nisga’a Nation, government officials, and the local communities of Stewart, B.C., and Hyder, Alaska — all of whom played important roles in seeing this first gold pour come to fruition.

 

“Commissioning of the process plant at PGP is continuing, with commercial production anticipated in the third quarter of 2024.

 

“The first gold pour was achieved from gold recovered through the gravity circuit.

 

“Commissioning of the carbon-in-leach circuit is currently under way. Ascot will provide a more comprehensive update on the commissioning progress in due course”.

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To read the full news release, please clink HERE

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The live gold price can be found HERE

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To read our full terms and conditions, please click HERE

Mining Review 14th January 2024

Calibre Mining reported record gold production of 283,494 ounces, from their operating mines in Nicarague and Nevada. This year will see the finish of the construction of the new Valentine mine, and $25,000,000 spent on additional exploration across their projects.

Calidus, Lefroy Exploration, and Ascot Resources all reported high-grade drill interecepts.

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Lefroy Exploration project map

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City Investors Circle Mining Review 14th January 2024

A few recent fundraises have highlighted the difficulty in early stage juniors raising capital in the current markets.

Funnily enough a couple of them have been around for quite some time without achieving anything for their shareholders.  Orex and Scorpion Gold have both raised less than they were looking for, with Scorpion pushing out the closing date in an affort to try and find more funds.

Panther Metals in London have also recently failed to raise what they set out to, and, despite them saying they cut back the loan notes as the costs of the drilling programme  “came in below budget“, I take that statement with a huge sack of salt.

I cannot remember a company ever achieving a 50%! saving on a drill program.

As I have been warning for well over a year now, early stage juniors relying on constant fundraises to carry out more drilling are in a difficult place right now, and I have cut my exposure to thse type of stocks to the bare minimum where the project looks so good I don’t want to be out despite the dilution risks.

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Calibre Mining reported record gold production of 283,494 ounces, from their operating mines in Nicaragua and Nevada. This year will see the finish of the construction of the new Valentine mine, and $25,000,000 spent on exploration.

Calibre are looking to become a 500,000 Oz gold PA mid-tier producer in 2025, and have excellent exploration projects in Nicaragua and Nevada to increase output further in the mid term.

Calidus Resources, Lefroy Exploration, and Ascot Resources all reported high-grade drill interecepts.

Archives

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Market Data

Weekly Price Changes

(US$ unless stated)

Metal Prices

To read the full news release, please click HERE

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Ascot Resources (TSX: AOT)

Announced the fourth and final batch of assay results from the 2023 exploration drill program at the Company’s Premier Gold Project, in the prolific Golden Triangle of northwestern British Columbia.

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Ascot Resources – Big Missouri portal

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Vancouver, B.C. January 3, 2024 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF)  (“Ascot” or the “Company”) is pleased to announce the fourth and final batch of assay results from the 2023 exploration drill program 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.

This release summarizes the final batch of assay results from this season’s surface drilling program for in-fill and exploration purposes at the Big Missouri deposit, approximately six kilometres north of the Premier mill.

Underground mine development towards various stoping areas is progressing at Big Missouri, and the stopes targeted in drilling from this release are in the near-term mine plan.

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Highlights from the drill results include:

• 58.18 g/t Au over 1.99m from a depth of 70.8m in hole P23-2532, including 77.45 g/t Au over 0.99m.
• 9.89 g/t Au over 6.94m from a depth of 22.7m in hole P23-2509B, including 51.00 g/t Au over 1.19m
• 8.26 g/t Au over 7.35m from a depth of 7.35m in hole P23-2506, including 30.88 g/t Au over 1.44m
• 8.26 g/t Au over 5.57m from a depth of 16.9m in hole P23-2499, including 15.75 g/t Au over 1.27m

Note: True widths are estimated to be between 70% to 90% of reported interval widths.

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Derek White, President and CEO of Ascot commented, 

“Our 2023 surface drilling program finished on a high note, with many planned stope shapes at Big Missouri being confirmed and, in some cases, expanded.

 

“We look forward to exploiting this material in the coming months and processing it at the Premier mill, where we anticipate starting pre-commissioning shortly.

 

“Similar confirmatory and expansion results were achieved in 2023 at the Prew Zone of the Premier Deposit, where underground access development is also being progressed.

 

“Overall, the 2023 drill program enhances our confidence in the geological model, which is all the more important as we become Canada’s next gold producer.”

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To read the full news release, please click HERE

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Mining Review 5th November 2023

Gold popped back up close to the US$2,000 level, on fear of a rout in bonds.

Ascot Resources reported a high grade gold intercept, the best for 8 years near their Premier Mine, i-80 Gold reported operating results, Eloro completed some metallurgical testing, and Calidus and SQM started exploring for lithium at Tabba Tabba.

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City Investors Circle Mining Review 5th November 2023

Gold popped back up close to the US$2,000 level, on fear of a rout in the bond market, where holders are selling long dated bonds with low coupons in favour of newly issued ones at much higher rates.

This has implications for the world’s financial systems, and may not end well if this continues.

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Ascot Resources reported a high grade gold intercept, the best for 8 years near their Premier Mine, i-80 Gold reported operating results, Eloro completed some metallurgical testing, and Calidus and SQM started exploring for lithium at Tabba Tabba.

It does look as though the junior miners have bottomed, with most I follow rising this week. tax loss selling normally starts around now, so we will see in the coming weeks if this has occurred early this year or not.

News from our watchlist companies is below, please click on the link to be taken to the full story.

  Ascot Resources Drilled 692 g/t Gold Over 0.9 M

  i-80 Gold Reported Q3 2023 Operating Results

  Calidus Resources -SQM lithium JV explores Tabba Tabba Shear

  Eloro Resources Completes Metallurgical Holes

  Monthly Market Review Published for October 2023

  Minera Alamos Closed the Cerro de Oro Funding Package

  Mining Review 29th October 2023

Market Data

Weekly Price Changes

(US$ unless stated)

Metal prices

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Ascot Resources (TSX: AOT)

Announced the third batch of assay results from the 2023 exploration drill program at the Company’s Premier Gold Project in the prolific Golden Triangle of northwestern British Columbia.

This release summarizes the initial batch of assay results from this season’s surface drilling program for in-fill and exploration purposes at the Big Missouri deposit, approximately six kilometres north of the Premier mill.

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Ascot Resources – Big Missouri portal

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Ascot Drills Its Highest-Grade Intercept Since 2015: 692 g/t Gold Over 0.9 Metres At The Big Missouri Deposit

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Mining Review 29th October 2023

Gold is over $2,000 as the Gaza situation spirals out of control and the threat of a wider regional conflict increases.

Ascot Resources, Calidus Resources, and Marathon Gold released excellent news this week. 

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Cornish Metals South Crofty headframe as seen from the adjoining builders merchants yard.

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City Investors Circle Mining Review 29th October 2023

Gold is over $2,000 as the Gaza situation spirals out of control and the threat of a wider regional conflict increases.

The week is starting with reports of rocket attacks in Iraq, Syria, and Yemen, as well as the worsening crisis in Gaza where Israeli forces are now entering the strip. With US forces now being targeted things look poised to go from bad to worse.

It’s hard to see this stopping and the news appears ready to worsen by the day unless some sensible heads prevail, and that’s looking unlikely with the US and Isreal ignoring the UN’s pleas for a ceasefire.

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Ascot Resources, Calidus Resources, and Marathon Gold released excellent news this week.

Many junior miners continue to fall despite the rising price of precious metals (but not base metals), and one wonders how much further they can fall as valuations are starting to look ridiculus compared to historical norms.

Three of our watchlist companies announced good news, yet only Calidus’ price increased, disappointing for holders in those other companies.

It’s interesting that with a record price of gold in Australian dollar terms, and Calidue now producing at quite a healthy margin, and due to fall considerably, the higher share price came as a result of the annoumcement of the SQM investment news in Pirra Lithium.

News from our watchlist companies in the last week is below, click the links to be taken to the full story.

  Global Mining Finance Conference Update

  Gold Road September Quarter 2023 Quarterly Report

  Marathon Gold Provided a Q3 2023 Construction Update

  Ascot Intercepted More High-Grade Gold in the Prew Zone

  Calidus Announced that SQM has taken a 40% stake in Pirra Lithium

  Mining Review 22nd October 2023

Market Data

Weekly price % changes

(US$ unless stated)

Metal Prices

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Ascot Resources (TSX: AOT)

Announced the second batch of assay results from the 2023 exploration drill program at the Company’s Premier Gold Project in the prolific Golden Triangle of northwestern British Columbia.

These are the final results from surface drilling for in-fill and exploration purposes at the Prew Zone in the Premier deposit, southeast of the Premier mill.

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Ascot Resources Premier Mill B.C.

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Vancouver, B.C. October 19, 2023 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the second batch of assay results from the 2023 exploration drill program 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 are the final results from surface drilling for in-fill and exploration purposes at the Prew Zone in the Premier deposit, southeast of the Premier mill.

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Highlights from the drill results include:

• 18.93 g/t Au over 6.87m from a depth of 278.1m in hole P23-2475, including 44.55 g/t Au over 2.30m
• 21.98 g/t Au over 4.28m from a depth of 279.2m in hole P23-2472, including 85.80 g/t Au over 1.05m
• 23.24 g/t Au over 3.86m from a depth of 290.1m in hole P23-2480, including 55.00 g/t Au over 1.00m and including an occurrence of coarse, visible gold
• 28.45 g/t Au over 2.51m from a depth of 318.8m in hole P23-2476, including 55.00 g/t Au over 1.18m
• 42.20 g/t Au over 1.68m from a depth of 274.8m in hole P23-2471

Note: True widths are estimated to be between 75% to 90% of reported interval widths.

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Derek White, President and CEO of Ascot commented, 

“With seven assays grading over an ounce per tonne gold in just these twelve holes, we are pleased with the high-grade tenor of the drill results, and better than expected sizes and grades in the Prew Zone.

 

“Development work recently commenced on the Premier portal and decline which will access the Prew Zone anticipated in early 2024 prior to mill start-up and initial gold production.

 

“Intercepting more high-grade gold in existing stope shapes and finding extensions and new lenses of mineralization is encouraging, especially for an area so near term in the mine plan.

 

“The Prew Zone of the Premier deposit will be Ascot’s second mining area and will help compliment the existing mining at the Big Missouri deposit, which was initially developed last year.”

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Market Review September 2023

West Red Lake Gold Mines is the company in the spotlight this month.

The best performing Watchlist stocks were Lithium Power International and UEC.

10 Year Treasury yields and the US dollar strength continue to push down the price of precious metals, with FED predictions of “higher for longer”. 

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City Investors Circle Market Review September 2023

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West Red Lake Gold Mines is the company in the spotlight this month.

The best performing Watchlist stocks were Lithium Power International and UEC.

The worst performing watchlist stock was Ascot Resources.

Companies reporting good news included Gold Road Resources and Karora Resources.

Other companies reporting news included Ascot Resources, Calidus Resources, i-80 Gold and Westhaven.

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The highest 10 Year Treasury yields since 2005 and the subsequent US dollar strength continue to push down the price of precious metals, with FED predictions of “higher for longer” really pushing down the price of gold and silver.

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To subscribe to our free monthly newsletter and receive invitations to our free to attend company presentations and conferences, please email andrew@city-investors-circle.com

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To view the September 2023 Market Review, please click HERE

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Mining Review 17th September 2023

We initiated coverage of West Red Lake Gold Mines, new owners of the Madsen Mine, formerly owned by Pure Gold Mining, which went into administration, and subsequently delisted from the TSX.V and AIM markets.

Ascot Recources, i-80 Gold, and Karora Resources all reported good drill results in a busy reporting week. 

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City Investors Circle Mining Review 17th September 2023

Mining Review 17th September 2023 We initiated coverage of West Red Lake Gold Mines, new owners of the Madsen Mine, formerly owned by Pure Gold Mining, which went into administration, and subsequently delisted from the TSX.V and AIM markets.

With a new management team with a record for achievement, and a new plan to exploit the resources and existing mine infrastructure, WRLG looks set to deliver shareholder value, if executed correctly of course.

To read about WRLG, please click here.

Companies on our watchlist in the news last week

Ascot Recources, i-80 Gold, and Karora Resources all reported good drill results in a busy reporting week.

To read about this week’s news in detail, please click the links below,

  Initiating Coverage West Red Lake Gold Mines

  I-80 Gold Announced High-Grade Results From Ruby Hill

  Ascot Resources Intercepted 32.9 g/t Gold Over 4.9m

  Karora Resources Reported Good Drill Results From Fletcher South

  Calidus’ Blue Spec Approval to Boost Output

  Orla Mining Amended Credit Facility

  Mining Review 10th September 2023

Market Data

Week on week price changes

(US$ unless stated)

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Metal and ETF Index Prices

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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.

.

.

Ascot Resources (TSX: AOT)

Announced the first batch of assay results from the 2023 exploration drill program at the Company’s Premier Gold Project in the prolific Golden Triangle of northwestern British Columbia.

These results are from surface drilling for in-fill and exploration purposes at the Prew Zone in the Premier deposit, southeast of the Premier mill. 

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Ascot Resources – Big Missouri portal

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Vancouver, B.C. August 25, 2023 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF)  (“Ascot” or the “Company”) is pleased to announce the first batch of assay results from the 2023 exploration drill program 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 surface drilling for in-fill and exploration purposes at the Prew Zone in the Premier deposit, southeast of the Premier mill.

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Highlights from the drill results include:

• 32.85 g/t Au and 216.18 g/t Ag over 4.90m from a depth of 273.1m in hole P23-2468, including 165.00 g/t Au and 940.00 g/t Ag over 0.90m
• 23.37 g/t Au and 54.28 g/t Ag over 6.52m from a depth of 253.48m in hole P23-2465, including 148.50 g/t Au and 315.00 g/t Ag over 0.95m
• Both high-grade intercepts from holes P23-2468 and P23-2465 occurred outside existing stope shapes and therefore imply stope extensions.

Note: True widths are estimated to be between 75% to 90% of reported interval widths.

For the 2023 exploration season, drilling started on the Prew Zone, where mining is planned to begin at the Premier deposit. After completing 16 holes at Prew, drilling shifted to Big Missouri, and later will shift to the Day Zone. Pending weather conditions in the fall, drilling may shift back south to Premier and Sebakwe. This release summarizes results from the first four holes totaling 1,309 metres drilled from one pad targeting the Prew Zone. An overview of drill hole locations is shown in Figure 1. A summary of assay results is shown in Table 1.

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Derek White, President and CEO of Ascot commented, 

“The 2023 exploration program is off to a great start, with two drill holes intercepting high-grade gold mineralization outside of existing stope shapes.

 

“This indicates strong potential for additional mineralization to be converted into near-term mine plans.

 

“The Prew Zone was initially delineated in 2017 and is where we plan to start production mining at the Premier deposit in early 2024.

 

“With additional assays pending from the Prew Zone including from holes that intercepted visible gold, we are eager to release additional results as we receive them in the coming weeks.”

To read the full news release, please click HERE

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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

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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

.

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,

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.

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.

Disclosure

At the time of writing the author holds shares in Ascot Resources

Market Review August 2023

The August 2023 Market Review has been published. It features comments on Karora Resources, Neometals, and Orla Mining, plus news snippets from other companies.

The review also provides market data for commodity prices. 

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City Investors Circle Market Review August 2023

The August 2023 Market Review has been published. It features comments on Karora Resources, Neometals, and Orla Mining, plus news snippets from other companies.

Neometals’ share price rose 60% during August after announcing the Mercedes Benz Primobius spoke agreement. Ascot Resources was the second largest riser after a progress report from their Premier Mine in Canada.

The review also provides market data for commodity prices, with the year to date lead changing hands, and now occupied by uranium. The largest faller in the commodity sector is currently lithium.

To receive the free Monthly Review, and invitations to our free to attend company presentations, please email andrew@city-investors-circle.com

The August 2023 Market Review can be accessed HERE

Mining Review 20th August 2023

A poor week for the mining juniors, with the price of gold falling due to anticipation of further FED rate increases, causing a strong US dollar.

Karora Resources reported record production sales and revue, and Newcore Gold and Silver Tiger reporting good drill results.

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City Investors-Circle Mining Review 20th August 2023

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Mining Review 20th August 2023 – A poor week for the mining juniors, with the price of gold falling due to anticipation of further FED rate increases, causing a strong US dollar.

Karora Resources reported record production sales and revue, and Newcore Gold and Silver Tiger reporting good drill results.

  Newcore Gold Intersects 3.28 g/t Gold over 11m

  Silver Tiger Intersected 3.3 m Of 1,153 g/t Silver Eq

  Impact Resources Revised the Terms of Sale  of the Commonwealth Project

  Ascot Resources Reported Q2 2023 Results and Construction Update

  Karora Resources Reported Record Production, Sales, and Revenue

  Calidus Resources Opportunity for Production Increase

  Mining Review 13th August 2023

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Market Data

Weekly Price Changes

(US$ unless stated)

Metal Prices

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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, Calidus Resources, and karora Resources.

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Mining Review 4th June 2023

Once again the price of gold is tumbling after renewed FED hawkish comments about further interest rate rises.

Comments on Ascot Resources, Gold Road Resources, Minera Alamos, Neometals and Pacgold.

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PAcgold Alice River Project location map, Queensland, Australia

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City Investors Circle Mining Review 4th June 2023

Mining Review 4th June 2023

Once again the price of gold is tumbling after renewed FED hawkish comments about further interest rate rises.

Comments on Ascot Resources, Gold Road Resources, Minera Alamos, Neometals and Pacgold.

  Pacgold Intersects Targeted Broad Zones of Veining

  Neometals’ Primobius Positive Update

  Minera Alamos Cerro de Oro Finance package Agreed

  City Investors Circle Market Review May 2023 Published

  Ascot Resources Reported Q1 Results and Construction Update

  Gold Road 2023 AGM Presentation

  City Investors Circle Mining Review 28th May 2023

Market Data

Week on week price changes

(US$ unless stated)

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Metal Prices

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ETF prices

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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, Gold Road Resources, Minera Alamos, and Pacgold.

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To read our full terms and conditions, please click HERE

Ascot Resources (TSX: AOT)

Announced the Company’s unaudited financial results for Q1 2023, and also provided a construction update on the Company’s Premier Gold Project

As of Q1 2023, detailed engineering stands at 99% complete, major procurement is over 95% complete, and project construction excluding mine development is at 35%. 

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Ascot Resources – Big Missouri portal

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Vancouver, B.C. May 15, 2023 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF)  (“Ascot” or the “Company”) is pleased to announce the Company’s unaudited financial results for the three months ended March 31, 2023 (“Q1 2023”), and also to provide a construction update on 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. For details of the unaudited condensed interim consolidated financial statements and Management’s Discussion and Analysis for the three months ended March 31, 2023, please see the Company’s filings on SEDAR (www.sedar.com).

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Derek White, President and CEO, commented;

 “As a result of the construction financing closed earlier this year, and also the momentum started with last year’s construction season, work crews have hit the ground running in the first quarter of 2023 with much progress being made in many areas.

 

“In mid-January contractors started inside the mill building and progressed piping and equipment installations, and outdoor construction has recently been advancing the new water treatment plant and associated infrastructure.

 

“As of Q1 2023, detailed engineering stands at 99% complete, major procurement is over 95% complete, and project construction excluding mine development is at 35%.

 

“We plan to further ramp-up construction efforts in the coming months with the mobilization of the earthworks and underground mining contractors and continue to advance project development towards initial gold pour in early 2024.”

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To read the full news release, please click HERE

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All amounts herein are reported in $000s of Canadian dollars (“C$”) unless otherwise specified.

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Q1 2023 AND RECENT HIGHLIGHTS

On January 19, 2023, the Company closed a previously announced financing package for completion of construction of the Project.

The financing package consists of US$110 million as a deposit in respect of gold and silver streaming agreements (the “Stream”) and a strategic equity investment (the “Strategic Investment”) of C$45 million, a portion of which is structured as Canadian Development Expenditures flow through shares, such that the total gross proceeds to the Company was C$50 million.

Concurrent with the closing of the financing package, the outstanding principal and accrued interest of the Senior Debt with Sprott Private Resource Lending II (CO) Inc. (“Sprott Lending”) was repaid, the Production Payment Agreement (“PPA”) in connection with the Senior Debt was terminated and the existing gold stream from the Red Mountain property with Sprott Private Resource Streaming and Royalty (B) Corp. (“Sprott Streaming”) was terminated and replaced by the new gold and silver stream.

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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

To read our full terms and conditions, please click HERE

Ascot Resources Ltd. (TSX: AOT)

Announced a C$4.0 million non-brokered flow through private placement, the proceeds of which will be used to fund the 2023 exploration program at the Company’s Premier Gold Project , located in the prolific Golden Triangle of northwestern British Columbia.

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Ascot REsources Premier mine, Golden Triangle, British Columbia, Canada.

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Ascot Announces C$4.0 Million Non-Brokered Flow Through Private Placement

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Mining Review 29th January 2023

Gold and copper had a good week, and tin had an exceptional week, as the markets became more positive about the Chinese economy.

Ascot Resources, Cartier Resources, Karora Resources, and Westhaven Gold all announced good drill results. 

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Wesdome Gold Mines Kiena Mine, Quebec

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City Investors Circle Mining Review 29th January 2023

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Gold and copper had a good week, tin had an exceptional week.

Gold is holding up well despite higher interest rates, but may possibly have topped out for now.

The renewed optimism in China, and protests in Peru, are driving the copper and iron ore prices. Warehouse stocks of some key metals are lower than they would normally be, suggesting a squeeze may occur at some point driving prices much higher.

In Peru, the word’s second largest copper producer, 30% of copper production is currently off line due to protests.

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Companies we follow making news last week

Ascot Resources, Cartier Resources, Karora Resources, and Westhaven Gold announced good drill results.

Please click on the links below to read last week’s news in full.

  Wesdome Gold CEO Falls on His Sword

  Neometals Signs Critical Minerals agreement

  Cartier Resources Confirms Depth Extension at Chimo

  Ascot Resources Drills 199 g/t Gold Over 1.0 m

  Karora Resources Drills 9.5 g/t Over 7.1 m at Western Flanks

  Westhaven Drills 6.20 m of 73.51 g/t Gold

  Mining Review 22nd January 2023

Read more: http://www.city-investors-circle.com/archives/#ixzz7rcfuboAO

Market Data

Weekly Price Changes

(US$ unless stated)

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