This release contains the remainder of assay results from exploration drilling at the
Highlights from the drill results include: 58.60 g/t Au and 24.8 g/t Ag over 1.90m from a depth of 35m in hole P21-2384 at the
11.22 g/t Au and 19.1 g/t Ag over 9.35m from a depth of 158m in hole P21-2336 at the
5.48 g/t Au and 9.8 g/t Ag over 4.80m from a depth of 188m in hole P21-2387 at the Boneyard near the Premier mill. This hole provides further evidence of mineralization continuing beyond the western limb of the Northern Light deposit.
This release summarizes the results from sixteen surface drill holes at the
In addition, the final outstanding assay results from the 2021 exploration season, consisting of 5,982 metres of drilling in 28 drill holes focused on in-filling the Big Missouri deposit, are now being received and will be released in the coming weeks as they become available.
Since its discovery in 2020, with a modest 32 drill holes we have already outlined a number of high-grade areas at the
Ascot recently expanded the
The three additional holes were drilled towards the west following positive results in drill hole P21-2331 reported on
Five drill holes (2380-2384) were completed from pad Day-5 that is located at a lower elevation on the western side of the ridge. These short holes were aimed towards high grade intercepts from last year and yielded additional high-grade intercepts as well as additional geological and structural information that is required to properly interpret this relatively new area of high-grade mineralization.
Drilling at the Boneyard and Woodbine
Earlier in the 2021 drill season, Ascot started surface drilling at lower elevations in the area west of the Premier deposit and near the mill building. Following up on the previously reported 50 metre step-out hole to the west of the existing Northern Light resource which intercepted 21.13 g/t Au over 7.0m in hole P21-2320, the final drill hole of the 2021 campaign, hole P21-2387, yielded a high-grade intercept approximately 25 metres to the east. This is another area with high potential for additional resources close to planned infrastructure.
In 2020, the Company drilled nine exploration holes at the Woodbine target to the west of the Premier mill, successfully intercepting high-grade gold mineralization. Ascot established a new drill pad in 2021 in order to test gold in soil anomalies at higher elevations that had previously remained untested. Drill hole P21-2332 intercepted anomalous gold at two principal elevations with the lower split into three different zones. The higher intercept is a new zone of mineralization whereas the lower zones roughly align with mineralization that was intercepted last year approximately 200 metres to the southeast. The geology and structure at the Woodbine prospect will require additional work to fully assess its potential. Due to the logistics of operating in the very steep terrain, the decision was made to defer additional work at Woodbine until better access for safe operations can be established.
Contact:
Tel: 778-725-1060
Email: dstewart@ascotgold.com
About
Ascot is a Canadian-based junior exploration and development company focused on re-starting the past-producing Premier gold mine, located in
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute 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 regarding the Company's exploration and development plans, the success of the Projects, the implementation of the Agreement, the benefits of the Agreement to Nisga'a Nation, its citizens and businesses as well as the shareholders and stakeholders of Ascot, and related matters. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Ascot can give no assurance that such expectations will prove to be correct. 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 the risks, uncertainties and other factors identified in the Ascot's periodic filings with Canadian securities regulators, and assumptions made with regard to: the anticipated benefits of the Agreement, the estimated costs associated with construction of the
Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Ascot's expectations include risks associated with the implementation of the Agreement, 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 and additional risks identified in Ascot's filings with Canadian securities regulators on SEDAR in
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