AOT-T Ascot Resources Intersects 104.74 g/t Gold Over 3.05 Metres at Premier
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2016) - Ascot Resources Ltd. (TSX:AOT) - The Premier property covers more than one hundred square kilometres near the town of Stewart in northwest BC, and includes the old Premier Mine, a past producer of 2.1 MOz Au and 44.9 MOz Ag.
Highlights of Release:
Ascot's initial drilling in 2016 is being concentrated in the old Premier Mine area where it will consist of 42,200 meters of drilling in 149 holes from 34 pads. The layout of the drill plan, based on twenty-five meter centers, will enable the Company to commission a maiden NI 43-101 resource on this area after the completion of the 2016 field season. Results continue to demonstrate good continuity of the mineralization and include good grades between zones previously drilled by Ascot, including several recent drill holes intersecting visible gold and electrum in new areas not previously tested (results for these holes are pending).In its latest set of results from its 2016 drill program the Company announces hole P16-1000 in the upper main zone which intersected an uncut average of 104.74 g/t gold over a core length of 3.05 meters within a broader interval grading 5.53 g/t Au and 84.1 g/t Ag over 65.96 meters. The upper main area is returning very high silver values supporting historic results in this area.Ascot's recent flow through financing raised $4.2 million. The Company is now planning an additional 10,000 meters of drilling in 2016 (bringing the total to 60,000 meters), with an emphasis on expanding the resource area to the northeast.New drill highlights include:
| | | | | | | | | | | | Hole # | Zone | | From
m's | To
m's | Width
m's | Au
(g/t) | Au
Cut*
(g/t) | Ag
(g/t) | Zn
% | | | | | | | | | | | | | P16-975 | Main-NE Zone | | 153.20 | 167.10 | 13.90 | 6.30 | 6.03* | 53.9 | 2.72 | | | | incl. | 153.20 | 154.20 | 1.00 | 20.10 | 20.10 | 140.0 | 2.29 | | | | incl. | 163.20 | 165.20 | 2.00 | 28.48 | 26.57* | 132.8 | 5.37 | | | | incl. | 163.20 | 164.20 | 1.00 | 38.10 | 34.29* | 170.0 | 7.55 | | | | | | | | | | | | | P16-978 | Below Obscene | | 270.56 | 289.80 | 19.24 | 3.75 | 3.50* | 13.8 | 0.58 | | | | incl. | 276.60 | 281.60 | 5.00 | 10.56 | 9.60* | 24.5 | 0.96 | | | | incl. | 278.60 | 279.60 | 1.00 | 39.10 | 34.29* | 55.0 | 1.43 | | | | | | | | | | | | | P16-984 | Main-NE Zone | | 148.32 | 179.00 | 30.68 | 4.16 | 4.16 | 14.4 | 1.15 | | | | incl. | 171.16 | 179.00 | 7.84 | 12.27 | 12.27 | 22.4 | 2.91 | | | | incl. | 174.00 | 178.00 | 4.00 | 20.76 | 20.76 | 29.5 | 4.33 | | | | incl. | 174.00 | 175.00 | 1.00 | 29.00 | 29.00 | 44.2 | 4.37 | | | | | | | | | | | | | P16-987 | Below Lunchroom | | 199.58 | 214.00 | 14.42 | 4.46 | 4.46 | 47.6 | 0.35 | | | | incl. | 199.58 | 204.00 | 4.42 | 11.09 | 11.09 | 120.3 | 0.52 | | | | incl. | 202.00 | 203.00 | 1.00 | 29.40 | 29.40 | 347.0 | 0.76 | | | | | | | | | | | | | P16-1000 | Upper Main | | 18.61 | 85.74 | 65.96 | 5.53 | 2.27* | 84.1 | 0.06 | | | | incl. | 67.45 | 85.74 | 17.12 | 20.13 | 7.58* | 105.4 | 0.05 | | | | incl. | 67.45 | 70.50 | 3.05 | 104.74 | 34.29* | 169.2 | 0.11 | | | | incl. | 69.00 | 70.50 | 1.50 | 121.00 | 34.29* | 242.0 | 0.17 | | | | | | | | | | | |
| True widths are generally believed to be 70-90% of intersected widths in the Premier area. | | (*) samples cut to 1opt or 34.29 g/t Au. | | |
This release is the 2nd for the season reporting 27 holes P16-974-1000, previous results were released on June 8th, 2016. Drilling is ongoing with two drill rigs in the resource area and a third drill rig will be testing the Northern Lights target, results will be released as they become available. Ascot has drilled 20,301 meters in 90 holes to date in 2016. Detailed results table, locations and figures can be viewed at the following Ascot link: www.ascotresources.ca
Graeme Evans, P. Geo and Lawrence Tsang, P. Geo are providing the field management for the Premier exploration program. Graeme Evans, designated as the Qualified Person (QP) as defined by National Instrument 43-101 has prepared the technical information in this news release.
Quality Assurance/Quality Control
Analytical work is being carried out by ALS Lab Group. Quality assurance and quality control programs include the use of analytical blanks and standards and duplicates in addition to the labs own internal quality assurance program. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. Identified or suspected metallic gold or silver are subjected to "metallics" assays. Also for extreme high gold grades a concentrate analysis is performed with a fire assay and gravimetric finish accurate up to 999985 ppm Au limit (ALS Au-CON01) method. Sampling and storage are at the company's secure facility in Stewart with bi-weekly sample shipments made to ALS Labs Terrace prep site.
On Behalf of the Board of Directors
ASCOT RESOURCES LTD.
John A. Toffan, President and Director |
