Canadian Mining Journal

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GOLD: Ascot cuts 387 g/t at former Premier mine



BRITISH COLUMBIA – The Lunchroom subzone at the former Premier gold mine near Stewart is offering tremendous grades. Ascot Resources of Surrey, BC, has drilled two recent holes with sections of bonanza grades.

Drilling suggests the Lunchroom subzone is flat lying zone with a moderate west dip and open on strike both to the east and west, said Ascot. Hole P15-882 cut 62.00 metres that averaged 6.73 g/t Au, including a 15.50-metre section of 23.85 g/t and another 0.90-metres of 367.00 g/t. Hole P15-874 returned 41.00 metres averaging 5.90 g/t Au, including 8.00 metres at 19.29 g/t and 0.90 metre at 115.29 g/t. (All samples were cut to 34.29 g/t Au.)

The Premier property has potential for both an open pit and underground mine. The 2014 43-101 report put the inferred resource at 93.5 million tonnes averaging 0.82 g/t Au and 6.9 g/t Ag. The inferred portion is 79.3 million tonnes at 0.59 g/t Au and 7.2 g/t Ag. Gold contained in the indicated resource is 2.48 million oz and in the inferred resource is 1.49 million oz.

Click here to be directed to last year’s 43-101 report.