Ascot Resources Intersects 10 Meters of 33.66 Grams Per Tonne Gold at Premier
12 Septiembre 2013 - 7:30AM
Marketwired Canada
Ascot Resources Ltd. (TSX VENTURE:AOT) -
Highlights of Release:
-- Drilling continues to expand and confirm property potential for bulk
tonnage and higher grade underground gold/silver targets.
-- Results reported for first 26 holes of the 2013 drilling campaign.
-- Drilling will continue with three drill rigs until the end of the
season.
-- Company receives $1,189,500 from the exercise of warrants.
Ascot Resources Ltd. (the "Company) is pleased to announce that wide zones of
gold and silver mineralization continue to be encountered in all target areas of
the Premier and Dilworth properties. Results have now been received from ALS for
26 of 42 holes drilled to date, and approximately 7,200 metres of the planned
20,000 metre drill program have been completed. The 2013 drilling campaign
continues to expand and confirm the property potential for both bulk tonnage and
higher grade underground gold/silver targets. The remainder of the holes have
results pending and will be reported at a later date. Drilling will continue for
the balance of the season with three Ascot drill rigs.
Wide zones of gold and silver mineralization continue to be encountered in all
of the target areas demonstrating bulk tonnage potential in a generally flat
sheet like orientation containing higher grade quartz breccia bodies. This
release includes results for the first 26 holes (P-13-433 to 458). Detailed
results table, locations and figures can be viewed at the following Ascot link:
www.ascotresources.ca
New highlights include:
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From To Width Au Ag
Hole # Zone Comment m's m's m's (g/t) (g/t)
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PR-13-433 S1 28.23 117.85 89.62 1.06 2.7
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incl. 87.00 117.85 30.85 2.64 4.4
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incl. 100.00 101.00 1.00 71.60 30.9
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PR-13-436 S1 34.00 79.00 45.00 1.40 3.1
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incl. 34.00 54.34 20.34 2.58 4.1
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incl. 44.00 46.00 2.00 14.80 11.5
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PR-13-439 Province & BM 161.50 306.17 144.67 1.37 3.3
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also. 188.32 246.00 57.68 1.94 3.8
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incl. 188.32 210.00 21.68 2.54 4.4
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incl. 190.69 193.50 2.81 13.04 9.2
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also. 232.00 248.00 16.00 3.44 6.4
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incl. 241.50 245.00 3.50 11.82 10.5
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PR-13-444 Martha Ellen 51.00 89.00 38.00 1.69 9.0
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incl. 60.81 77.00 16.19 3.48 17.3
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incl. 60.81 65.00 4.19 7.35 29.0
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incl. 60.81 62.00 1.19 17.70 45.6
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PR-13-445 Martha Ellen 72.00 116.00 44.00 1.66 7.4
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incl. 87.00 98.00 12.00 4.84 14.6
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incl. 90.00 91.50 1.50 19.20 42.6
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PR-13-450 Martha Ellen 84.00 121.00 37.00 1.40 27.3
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incl. 104.93 110.15 5.22 9.35 68.3
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incl. 109.00 110.15 1.15 36.90 160.0
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PR-13-451 Province also 174.00 207.57 35.57 9.66 6.6
(Hit Stope)
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incl. 181.00 191.00 10.00 33.66 18.7
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incl. 184.00 186.00 2.00 155.45 31.6
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incl. 185.00 186.00 1.00 230.00 44.3
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PR-13-454 Sparky 91.19 119.14 27.95 2.43 36.2
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incl. 91.19 98.10 6.91 5.28 29.6
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incl. 95.50 97.00 1.50 18.95 69.2
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incl. 109.00 113.50 4.50 5.83 156.3
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incl. 112.00 113.50 1.50 11.85 235.0
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True widths are generally believed to be 85-90% of intersected
widths.(i)Assay values are not cut-see detailed table for cut values.
In 2013 the Big Missouri area is being drill tested covering portions of the
historic S1, Northstar, Calcite Cut and Province/Big Missouri zones to expand
and demonstrate continuity of previous high grade intersections, as well as
expand and improve drill definition in the resource area. The extent of surface
showings and alteration in this area is approximately 3.0 square kilometres.
Drilling has also commenced in the Martha Ellen zone to expand the area outlined
in the 2013 resource estimate. Drilling to date is demonstrating good
continuity, particularly to the north. Drilling in the Sparky area of the
adjacent Dilworth property is testing modelling from the 2012 work which
indicated that mineralization is controlled by N-S striking steeply east dipping
quartz breccia bodies. Drilling to date indicates that this interpretation
continues to bring success.
In August 2013 the Ascot received $1,189,500 from the exercise of warrants. This
combined with the gross $5,757,100 raised in recent private placements provides
the Company with sufficient funding to take it well into 2014.
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. 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
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press
release relative to markets 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, including, without limitation; the completion
of the Offering on the terms set forth herein, the anticipated closing date of
the Offering and the use of proceeds from the Offering are forward looking
statements. 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 the Company's expectations include 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 native 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; and uncertainty as to timely availability of permits and
other governmental approvals. Forward-looking statements are based on estimates
and opinions of management at the date the statements are made. The Company does
not undertake any obligation to update forward-looking statements except as
required by applicable securities laws. Investors should not place undue
reliance on forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ascot Resources Ltd.
(604) 379-1170
(604) 684-9877 (FAX)
www.ascotresources.ca
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