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
The exploration program at the
The first four drill holes from this year’s program targeted the eastern part of the
Table 1 –
Hole # | Azimuth /dip | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
P23-2465 | -63/109 | 253.48 | 260.00 | 6.52 | 23.37 | 54.28 |
incl. | 257.08 | 258.03 | 0.95 | 148.50 | 315.00 | |
and | 276.21 | 280.00 | 3.79 | 5.03 | 4.36 | |
incl. | 276.21 | 278.00 | 1.79 | 9.28 | 7.00 | |
P23-2466 | -56/121 | 267.67 | 269.76 | 2.09 | 3.37 | 30.02 |
incl. | 267.67 | 268.51 | 0.84 | 6.80 | 16.80 | |
and | 294.73 | 297.40 | 2.67 | 1.08 | 2.30 | |
P23-2467 | -57/126 | 263.15 | 267.08 | 3.93 | 2.98 | 37.96 |
incl. | 265.08 | 267.08 | 2.00 | 5.50 | 72.95 | |
and | 296.07 | 300.07 | 4.00 | 1.66 | 3.95 | |
and | 302.87 | 303.87 | 1.00 | 2.83 | 21.70 | |
and | 316.86 | 318.17 | 1.31 | 3.22 | 4.40 | |
P23-2468 | -60/122 | 252.50 | 253.53 | 1.03 | 4.02 | 12.50 |
and | 257.31 | 259.30 | 1.99 | 4.12 | 10.90 | |
and | 273.10 | 278.00 | 4.90 | 32.85 | 216.18 | |
incl. | 273.10 | 274.00 | 0.90 | 165.00 | 940.00 | |
and | 291.31 | 293.36 | 2.05 | 6.94 | 12.30 | |
and | 304.00 | 307.50 | 3.50 | 1.65 | 3.89 | |
and | 316.88 | 320.47 | 3.59 | 5.04 | 17.06 | |
incl. | 318.97 | 320.47 | 1.50 | 9.04 | 37.60 |
Note: True widths are estimated to be between 75% to 90% of reported interval widths.
Figure 1 – 3D view of the drill pad location and drill hole traces reported in this release.
Figure 2 – East looking 3D-cross section showing the drill holes reported in this release. High-grade gold was intercepted in stope shapes and in the direct projection of existing stope designs up dip (hole P23-2465) and along strike (hole P23-2468), respectively. The projected intercepts of drill holes 2466 and 2467 in the stope encountered a dyke and a base metal zone with anomalous gold respectively.
Figure 3 – Visible gold in hole P23-2480 from a depth of 292 metres, assay results pending
Table 2 – Drill pad locations
Pad # | UTM N | UTM E | Elevation (masl) | Hole no. |
23PREW1 | 437178 | 6213198 | 576 | 2465-2468 |
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.ca or visit the Company’s web site at www.ascotgold.com, or for a virtual tour visit www.vrify.com under
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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.ca including the Annual Information Form of the Company dated
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Figure 1
3D view of the drill pad location and drill hole traces reported in this release.
Figure 2
East looking 3D-cross section showing the drill holes reported in this release. High-grade gold was intercepted in stope shapes and in the direct projection of existing stope designs up dip (hole P23-2465) and along strike (hole P23-2468), respectively. The projected intercepts of drill holes 2466 and 2467 in the stope encountered a dyke and a base metal zone with anomalous gold respectively.
Figure 3
Visible gold in hole P23-2480 from a depth of 292 metres, assay results pending
2023 GlobeNewswire, Inc., source