Highlights from the drill results include:
- 27.52 g/t Au and 11.40 g/t Ag over 8.00m from a depth of 68.4m in hole P21-2379, including 66.70 g/t Au and 14.20 g/t Ag over 2.00m
- 36.36 g/t Au and 24.1 g/t Ag over 4.65m from a depth of 56.4m in hole P21-2373, including 184.50 g/t Au and 80.50 g/t Ag over 0.90m. The interval is carried by the high-grade assay, but the width of the mineralized zone has been selected considering base metal and sulfide content in addition to gold and silver.
- 10.04 g/t Au and 15.91 g/t Ag over 7.00m from a depth of 139.8m in hole P21-2358, including 14.70 g/t Au and 22.33 g/t Ag over 4.00m
- 7.25 g/t Au and 4.57 g/t Ag over 6.00m from a depth of 212.1m in hole P21-2363, including 19.00 g/t Au and 6.10 g/t Ag over 2.00m
With a headline intercept of nearly an ounce per tonne gold over eight metres and with assays as high as 184.5 g/t gold, the future bodes well for the underground development at Big Missouri. The Company continues to expect to convert Resources into Reserves as additional drilling from surface and underground provides more detailed information on the optimal mining shapes.”
Big Missouri Drill Results
This release summarizes the assay results from 36 surface drill holes for a total of 6,010 metres at the Big Missouri deposit which were drilled in September and
Gold was intercepted at or close to the expected elevations which is critical for correct planning of the development drifts. Gold grades vary from bonanza grade to highly anomalous which is an expected result in a coarse gold system where some drill holes do not intercept coarse gold particles. The mineralized zones are indicated by the presence of quartz breccia or stockwork with highly anomalous gold grades and anomalous amounts of associated base metals such as lead and zinc.
These new drill holes tighten the drill spacing in these areas and provide additional pierce points from which to refine the stope shapes. The orientation and exact geometry of the stopes will be modified in some areas as new wire frames and block models are being generated to fine tune the mine plan for the start of production.
Upcoming Conference Participation
Ascot will be participating in two precious metals investor conferences next week, with the following details:
Sunday, February 27 th – Stansberry Research Annual Gold Stock Analyst Investor Day inFort Lauderdale, Florida . President & CEODerek White will be presenting alongside twelve other precious metals companies. Ascot’s presentation will start at9:55am ET onSunday, February 27 th.Sunday, February 27 th toWednesday, March 2 nd – BMO 31stGlobal Metals & Mining Conference inHollywood, Florida . Ascot will be available for one-on-one meetings with investors throughout the conference, andDerek White will be presenting at9:15am ET onWednesday, March 2 nd. A presentation webcast link will be made available on Ascot’s website.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1575bcb8-fd88-4695-af40-1d079d8c211e
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/367f64b8-b0e2-433d-8b98-bd3095460645
Table 1 – Big
Hole # | Azimuth /dip | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
P21-2379 | 170/-50 | 54.50 | 76.35 | 21.85 | 11.32 | 8.5 |
incl. | 68.35 | 76.35 | 8.00 | 27.52 | 11.4 | |
incl. | 68.35 | 69.35 | 1.00 | 69.60 | 40.1 | |
incl. | 74.35 | 76.35 | 2.00 | 66.70 | 14.2 | |
P21-2378 | 190/-45 | 52.50 | 58.74 | 6.24 | 3.72 | 11.3 |
incl. | 52.50 | 53.60 | 1.10 | 15.65 | 27.3 | |
and | 66.44 | 72.94 | 6.50 | 3.04 | 6.4 | |
incl. | 67.94 | 68.94 | 1.00 | 14.85 | 8.9 | |
and | 81.92 | 82.92 | 1.00 | 3.92 | 5.9 | |
and | 84.92 | 88.92 | 4.00 | 5.19 | 8.6 | |
and | 93.87 | 94.87 | 1.00 | 2.93 | 4.4 | |
P21-2377 | 200/-45 | 63.29 | 64.29 | 1.00 | 5.48 | 8.4 |
and | 71.94 | 81.56 | 9.62 | 3.25 | 12.9 | |
incl. | 71.94 | 74.12 | 2.18 | 9.74 | 39.0 | |
and | 89.44 | 91.44 | 2.00 | 2.07 | 11.6 | |
and | 97.44 | 99.44 | 2.00 | 1.84 | 12.7 | |
P21-2376 | 210/-50 | 59.90 | 63.50 | 3.60 | 1.18 | 3.3 |
and | 76.65 | 77.65 | 1.00 | 1.01 | 14.9 | |
and | 83.65 | 90.53 | 6.88 | 0.99 | 3.0 | |
P21-2375 | 245/-65 | 51.95 | 53.90 | 1.95 | 0.63 | 6.0 |
P21-2374 | 295/-68 | 54.90 | 55.90 | 1.00 | 1.32 | 22.9 |
P21-2373 | 350/-70 | 43.75 | 48.20 | 4.45 | 1.77 | 21.1 |
and | 56.40 | 61.05 | 4.65 | 36.36 | 24.1 | |
incl. | 57.30 | 58.20 | 0.90 | 184.50 | 80.5 | |
P21-2372 | 140/-60 | 38.31 | 43.31 | 5.00 | 1.82 | 10.7 |
P21-2371 | 180/-60 | 35.31 | 36.95 | 1.64 | 1.37 | 3.2 |
and | 43.76 | 44.76 | 1.00 | 7.49 | 6.3 | |
P21-2370 | 210/-70 | 37.70 | 39.76 | 2.06 | 1.90 | 5.7 |
P21-2369 | 350/-62 | 200.20 | 204.50 | 4.30 | 1.84 | 3.0 |
and | 218.40 | 222.40 | 4.00 | 4.51 | 17.3 | |
P21-2368 | 0/-67 | 74.70 | 75.80 | 1.10 | 2.18 | 3.5 |
and | 184.00 | 184.85 | 0.85 | 1.08 | 1.4 | |
P21-2367 | 15/-75 | 197.45 | 202.45 | 5.00 | 1.95 | 10.1 |
and | 209.45 | 211.45 | 2.00 | 1.03 | 7.5 | |
P21-2366 | 23/-63 | 180.76 | 181.76 | 1.00 | 2.98 | 14.2 |
and | 196.20 | 197.80 | 1.60 | 3.42 | 1.8 | |
P21-2365 | 28/-70 | 183.30 | 206.30 | 23.00 | 1.86 | 7.2 |
incl. | 203.30 | 206.30 | 3.00 | 3.99 | 13.6 | |
P21-2364 | 28/-58 | 192.00 | 194.00 | 2.00 | 4.81 | 5.3 |
and | 208.60 | 212.60 | 4.00 | 1.04 | 5.6 | |
P21-2363 | 35/-45 | 212.10 | 218.10 | 6.00 | 7.25 | 4.6 |
incl. | 212.10 | 214.10 | 2.00 | 19.00 | 6.1 | |
P21-2362 | 45/-47 | 201.25 | 202.55 | 1.30 | 2.43 | 20.4 |
and | 207.65 | 208.30 | 0.65 | 1.47 | 15.4 | |
and | 217.30 | 219.30 | 2.00 | 4.79 | 1.5 | |
and | 221.30 | 222.70 | 1.40 | 2.31 | 12.7 | |
P21-2361 | 60/-70 | 6.18 | 8.18 | 2.00 | 1.96 | 3.1 |
and | 11.52 | 20.37 | 8.85 | 1.11 | 3.9 | |
and | 154.53 | 163.68 | 9.15 | 1.51 | 8.5 | |
incl. | 157.58 | 158.58 | 1.00 | 5.67 | 24.1 | |
P21-2360 | 65/-63 | 13.67 | 14.67 | 1.00 | 1.03 | 3.5 |
and | 18.96 | 20.06 | 1.10 | 5.96 | 15.5 | |
and | 154.90 | 157.27 | 2.37 | 4.07 | 11.4 | |
P21-2359 | 75/-50 | 3.40 | 9.53 | 6.13 | 1.02 | 8.1 |
and | 19.60 | 20.97 | 1.37 | 1.57 | 8.7 | |
and | 26.97 | 28.97 | 2.00 | 1.13 | 2.8 | |
and | 42.25 | 43.35 | 1.10 | 1.23 | 25.2 | |
and | 44.12 | 45.23 | 1.11 | 1.58 | 80.3 | |
P21-2358 | 85/-80 | 4.93 | 6.93 | 2.00 | 6.86 | 8.4 |
and | 17.93 | 19.93 | 2.00 | 1.69 | 6.8 | |
and | 139.09 | 150.83 | 11.74 | 6.83 | 15.4 | |
incl. | 139.83 | 143.83 | 4.00 | 14.70 | 22.3 | |
P21-2357 | 85/-70 | 17.17 | 19.10 | 1.93 | 5.27 | 16.7 |
and | 148.28 | 158.49 | 10.21 | 2.23 | 6.0 | |
P21-2356 | 85/-60 | 5.54 | 9.23 | 3.69 | 1.43 | 3.1 |
and | 16.97 | 17.97 | 1.00 | 1.23 | 7.9 | |
and | 155.53 | 159.53 | 4.00 | 0.50 | 6.2 | |
P21-2355 | 85/-54 | 4.70 | 6.70 | 2.00 | 1.88 | 4.3 |
and | 10.70 | 15.63 | 4.93 | 1.23 | 4.1 | |
and | 21.24 | 23.24 | 2.00 | 2.54 | 5.2 | |
and | 38.98 | 40.98 | 2.00 | 1.19 | 10.4 | |
and | 159.62 | 160.32 | 0.70 | 1.86 | 1.2 | |
P21-2350 | 92/-71 | 66.34 | 68.34 | 2.00 | 2.76 | 21.0 |
and | 136.00 | 137.00 | 1.00 | 5.09 | 5.1 | |
and | 180.75 | 182.75 | 2.00 | 1.10 | 1.8 | |
P21-2349 | 85/-66 | 132.80 | 134.52 | 1.72 | 16.40 | 18.3 |
P21-2348 | 75/-61 | 98.62 | 99.62 | 1.00 | 2.42 | 4.9 |
P21-2347 | 15/-74 | 137.28 | 138.33 | 1.05 | 1.17 | 3.5 |
and | 141.29 | 142.34 | 1.05 | 1.31 | 98.1 | |
and | 148.44 | 149.44 | 1.00 | 1.62 | 33.6 | |
and | 151.49 | 152.58 | 1.09 | 4.62 | 5.2 | |
and | 160.63 | 161.63 | 1.00 | 1.37 | 2.9 | |
and | 190.16 | 191.11 | 0.95 | 1.28 | 2.1 | |
and | 192.11 | 193.11 | 1.00 | 1.75 | 2.7 | |
and | 194.90 | 196.23 | 1.33 | 1.24 | 5.3 | |
P21-2346 | 125/-80 | 27.49 | 29.50 | 2.01 | 1.72 | 1.8 |
and | 35.50 | 37.50 | 2.00 | 2.11 | 1.8 | |
and | 165.50 | 171.00 | 5.50 | 2.31 | 4.6 | |
P21-2345 | 160/-75 | 4.00 | 6.00 | 2.00 | 1.93 | 211.0 |
and | 23.50 | 25.00 | 1.50 | 1.13 | 3.3 | |
and | 158.25 | 159.75 | 1.50 | 1.52 | 4.7 | |
and | 164.47 | 167.00 | 2.53 | 1.55 | 3.7 | |
and | 177.00 | 178.00 | 1.00 | 1.19 | 1.7 | |
P21-2344 | 200/-82 | 175.72 | 177.00 | 1.28 | 1.01 | 2.8 |
P21-2343 | 200/-78 | 13.00 | 14.33 | 1.33 | 1.32 | 2.3 |
and | 22.00 | 25.00 | 3.00 | 1.54 | 7.0 | |
and | 180.21 | 190.00 | 9.79 | 4.82 | 7.6 | |
incl. | 188.00 | 189.00 | 1.00 | 15.55 | 24.4 | |
and | 198.50 | 206.35 | 7.85 | 1.10 | 3.5 | |
P21-2342 | 250/-83 | 22.85 | 24.50 | 1.65 | 1.33 | 3.7 |
and | 176.00 | 177.68 | 1.68 | 1.04 | 9.2 | |
P21-2341 | 276/-82 | 32.00 | 34.00 | 2.00 | 3.03 | 7.6 |
P21-2340 | 295/-82 | 22.15 | 24.00 | 1.85 | 1.39 | 8.2 |
and | 188.00 | 190.00 | 2.00 | 1.20 | 4.4 |
Note: Drill holes were aimed roughly perpendicular to the zone of mineralization. True width for individual intervals is estimated to range from 70-95% of the reported intervals.
Table 2 – Drill pad locations
Pad # | UTM N | UTM E | Elevation (masl) | Hole no. |
STP1 | 6219205 | 436343 | 1064 | P21-2347 to P21-2350 |
STP2 | 6219269 | 436348 | 1072 | P21-2355 to P21-2361 |
STP3 | 6219282 | 435293 | 1076 | P21-2340 to P21-2346 |
STP4 | 6219398 | 435292 | 1083 | P21-2362 to P21-2369 |
STP5 | 6219302 | 436514 | 988 | P21-2370 to P21-2372 |
STP6 | 6219525 | 436510 | 1007 | P21-2373 to P21-2379 |
Qualified Person
Quality Assurance/Quality Control
Analytical work is being carried out by
Samples are dried and weighed by ALS. They are then crushed to 75% passing 2mm, with 250g split and pulverized to 85% passing 75µm. Samples are processed at the ALS preparation lab in Terrace and sent to ALS in
On behalf of the Board of Directors of
“Derek C. White”
President & CEO
For further information contact:
VP,
dstewart@ascotgold.com
778-725-1060 ext. 1024
About
Ascot is a Canadian-based junior exploration and development company focused on re-starting the past-producing Premier gold mine, located in British Columbia’s prolific
For more information about the Company, please refer to the Company’s profile on SEDAR at www.sedar.com or visit the Company’s web site at www.ascotgold.com, or for a virtual tour visit www.vrify.com under
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release about anticipated future events may constitute forward-looking information under Canadian securities laws ("forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements in respect of the terms, timing and closing of the Offering and other transactions contemplated herein and the use of proceeds. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks associated with the business of Ascot; risks related to exploration and potential development of Ascot's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; risks associated with COVID-19 including adverse impacts on the world economy, construction timing and the availability of personnel; and other risk factors as detailed from time to time in Ascot's filings with Canadian securities regulators, available on Ascot's profile on SEDAR at www.sedar.com including the Annual Information Form of the Company dated
Figure 1
Overhead view of Big Missouri illustrating the location of six drill pads and all drill holes presented in this news release. The approximate location for the cross section in Figure 2 is shown.
Figure 2
West looking seventy-meter-wide 3D section of drill holes from drill pad STP6 (see Figure 1) with planned stopes shown in red. Previous drill holes are shown faintly and without the intervals grading below 1.0 g/t Au for better visualization.
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