Highlights from the drill results include:
- 26.56 g/t Au and 10.00 g/t Ag over 8.00m from a depth of 42.50m in hole P22-2459 at the
Day Zone , including 198.50 g/t Au and 59.60 g/t Ag over 1.00m - 43.30 g/t Au and 20.90 g/t Ag over 1.50m from a depth of 55.00m in hole P22-2460 at the
Day Zone - 6.13 g/t Au and 2.95 g/t Ag over 8.00m from a depth of 38.00m in hole P22-2449 at the
Day Zone , including 14.70 g/t Au and 4.00 g/t Ag over 2.00m - 8.84 g/t Au and 10.45 g/t Ag over 5.07m from a depth of 87.93m in hole P22-2464 at the Big Missouri deposit, including 21.40 g/t Au and 20.10 g/t Ag over 1.00m
- 9.11 g/t Au and 10.88 g/t Ag over 4.19m from a depth of 92.43m in hole P22-2462 at the Big Missouri deposit, including 16.95 g/t Au and 20.90 g/t Ag over 1.14m
- From a total of 3,761 assays in the 2022 drill campaign, 42 assays (or 1.12%) returned in excess of 10 g/t Au. Those 42 samples average 53 g/t Au.
Note: True widths are estimated to be between 60% to 80% of reported interval widths.
This release summarizes the fourth and final batch of assay results from 2022 surface drilling at the Big Missouri deposit, as well as all holes drilled at the
Figure 1 – https://www.globenewswire.com/NewsRoom/AttachmentNg/d431de2e-c03b-45a6-87e9-4a4df6f32e75
Figure 2 shows an east-looking 3D cross section of drilling at the
Holes drilled from BM4/22 were successful in identifying gold mineralization in a previously undrilled area, as evidenced by hole P22-2449 which intercepted 14.70 g/t Au over 2.00m. Hole P22-2453 intercepted 11.75 g/t Au over 1.00m adjacent to a previously planned stope to the north, implying an extension of mineralization.
In addition to mineralization being identified in the 150 metre gap zone, mineralization at the
Figure 2 – https://www.globenewswire.com/NewsRoom/AttachmentNg/d2c9aa71-319b-4733-b98d-35107898db83
Figure 3 – https://www.globenewswire.com/NewsRoom/AttachmentNg/81e291f0-753f-4a6e-88e3-d130c685f809
Table 1 –
Hole # | Azimuth /dip | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
P22-2449 | 88/-43 | 38.00 | 46.00 | 8.00 | 6.13 | 2.95 |
incl. | 38.00 | 40.00 | 2.00 | 14.70 | 4.00 | |
and | 88.00 | 89.53 | 1.53 | 7.84 | 14.80 | |
P22-2450 | 88/-51 | 55.62 | 59.75 | 4.13 | 1.21 | 5.85 |
P22-2451 | 106/-54 | 14.00 | 20.00 | 6.00 | 3.57 | 3.70 |
incl. | 14.00 | 16.00 | 2.00 | 7.74 | 7.30 | |
and | 41.00 | 45.50 | 4.50 | 5.24 | 2.51 | |
incl. | 43.30 | 45.50 | 2.20 | 7.74 | 2.00 | |
P22-2452 | 106/-46 | 51.40 | 54.02 | 2.62 | 5.28 | 6.93 |
incl. | 53.00 | 54.02 | 1.02 | 9.14 | 8.30 | |
and | 74.63 | 75.60 | 0.97 | 2.03 | 4.20 | |
and | 84.00 | 85.13 | 1.13 | 1.97 | 3.50 | |
P22-2453 | 52/-45 | 60.59 | 71.50 | 10.91 | 4.02 | 4.36 |
incl. | 64.50 | 65.50 | 1.00 | 11.75 | 10.70 | |
P22-2454 | 54/-55 | 56.07 | 57.00 | 0.93 | 1.38 | 2.70 |
P22-2455 | 10/-75 | 8.00 | 10.00 | 2.00 | 1.42 | 4.30 |
and | 49.00 | 58.39 | 9.39 | 2.18 | 9.76 | |
incl. | 57.42 | 58.39 | 0.97 | 9.02 | 29.10 | |
P22-2456 | 55/-64 | 9.29 | 10.23 | 0.94 | 1.17 | 2.20 |
and | 52.00 | 54.00 | 2.00 | 6.89 | 5.70 | |
and | 60.35 | 64.35 | 4.00 | 1.43 | 3.33 | |
P22-2457 | 72/-45 | 4.88 | 7.00 | 2.12 | 1.53 | 2.90 |
and | 49.50 | 50.80 | 1.30 | 1.08 | 2.40 | |
and | 76.74 | 77.80 | 1.06 | 1.21 | 4.70 | |
P22-2458 | 93/-45 | 24.86 | 27.00 | 2.14 | 1.10 | 3.80 |
and | 55.00 | 59.00 | 4.00 | 1.23 | 5.53 | |
and | 62.00 | 62.97 | 0.97 | 1.33 | 3.80 | |
and | 69.40 | 71.50 | 2.10 | 1.45 | 4.70 | |
and | 83.00 | 84.55 | 1.55 | 1.21 | 7.60 | |
and | 92.61 | 96.00 | 3.39 | 1.52 | 6.69 | |
P22-2459 | 110/-65 | 32.02 | 33.90 | 1.88 | 1.88 | 14.50 |
and | 42.50 | 50.50 | 8.00 | 26.56 | 10.00 | |
incl. | 42.50 | 43.50 | 1.00 | 198.50 | 59.60 | |
and | 54.50 | 55.50 | 1.00 | 1.89 | 9.90 | |
and | 59.50 | 64.00 | 4.50 | 2.19 | 3.78 | |
P22-2460 | 132/-79 | 39.18 | 40.59 | 1.41 | 2.00 | 7.40 |
and | 43.00 | 45.00 | 2.00 | 1.21 | 0.70 | |
and | 55.00 | 56.50 | 1.50 | 43.30 | 20.90 |
Note: True widths are estimated to be between 60% to 80% of reported interval widths.
Big
At the end of the 2022 surface drill season at PGP, four drill holes totaling 495 metres were drilled from pad BM6/22 at the Big Missouri deposit. These holes were meant for in-fill and exploration purposes around existing planned stopes. High-grade gold mineralization was intercepted in and near planned stopes, including in hole P22-2464 which intercepted 8.84 g/t Au over 5.07m including 21.40 g/t Au over 1.00m, and hole P22-2462 which intercepted 9.11 g/t Au over 4.19m including 16.95 g/t Au over 1.00m.
Figure 4 – https://www.globenewswire.com/NewsRoom/AttachmentNg/d65415b4-1957-4a4b-bffd-3c39ea4d7a21
Table 2 – Big
Hole # | Azimuth /dip | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
P22-2461 | 261/-66 | 95.44 | 97.10 | 1.66 | 1.13 | 1.50 |
and | 129.00 | 130.15 | 1.15 | 1.83 | 1.50 | |
P22-2462 | 275/-66 | 73.90 | 75.29 | 1.39 | 5.57 | 10.60 |
and | 92.43 | 96.62 | 4.19 | 9.11 | 10.88 | |
incl. | 92.43 | 93.57 | 1.14 | 16.95 | 20.90 | |
P22-2463 | 275/-55 | 83.08 | 84.08 | 1.00 | 3.96 | 2.40 |
and | 86.08 | 87.08 | 1.00 | 2.67 | 4.50 | |
and | 101.35 | 102.35 | 1.00 | 6.97 | 5.70 | |
P22-2464 | 285/-57 | 84.04 | 85.06 | 1.02 | 3.16 | 5.20 |
and | 87.93 | 93.00 | 5.07 | 8.84 | 10.45 | |
incl. | 91.00 | 92.00 | 1.00 | 21.40 | 20.10 | |
and | 104.00 | 109.75 | 5.75 | 4.47 | 4.90 | |
incl. | 106.33 | 108.51 | 2.18 | 8.73 | 6.50 |
Note: True widths are estimated to be between 60% to 80% of reported interval widths.
Table 2 – Drill pad locations
Pad # | UTM N | UTM E | Elevation (masl) | Hole no. |
BM4/22 | 435816 | 6219436 | 926.0 | 2449-2454 |
BM5/22 | 435845 | 6219375 | 933.0 | 2455-2460 |
BM6/22 | 436464 | 6219232 | 1,014.0 | 2461-2464 |
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 junior exploration and development company focused on re-starting the past producing Premier gold mine, located on Nisga’a Nation Treaty Lands, 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", "targeted", "outlook", "on track" 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 advancement and development of the PGP and the timing related thereto, the exploration of the Company’s properties and management’s outlook for the remainder of 2023 and beyond. 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
![](https://ml.globenewswire.com/media/OTUyMmY1ZjYtZTZhOS00MzdiLWExNTUtMjY5OTY5OTc2MjkzLTExMDUwMjQ=/tiny/Ascot-Resources-Ltd-.png)
Figure 1
![](https://ml.globenewswire.com/media/d431de2e-c03b-45a6-87e9-4a4df6f32e75/medium/figure-1.png)
Plan view of the three drill pad locations with drill hole traces reported in this release.
Figure 2
![](https://ml.globenewswire.com/media/d2c9aa71-319b-4733-b98d-35107898db83/medium/figure-2.png)
East looking 3D cross section through drill holes from pads BM4/22 and BM5/22.
Figure 3
![](https://ml.globenewswire.com/media/81e291f0-753f-4a6e-88e3-d130c685f809/medium/figure-3.png)
Visible gold in hole P22-2459 starting at a depth of 42.50m and grading 198.50 g/t Au over 1.00m.
Figure 4
![](https://ml.globenewswire.com/media/d65415b4-1957-4a4b-bffd-3c39ea4d7a21/medium/figure-4.png)
South looking 3D cross section through drill holes from pad BM6/22.
2023 GlobeNewswire, Inc., source