Canadian Mining Journal

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GOLD: Ascot planning $20M program at Premier project



BRITISH COLUMBIA – Ascot Resources of Vancouver was pleased with the results from the Premier project near Stewart, so pleased that it has committed $20 million to further exploration and underground development in 2017.

A $13-million surface drilling program of 120,000 metres is planned. The company expects to outline an initial 2.0 million to 3.0 million oz high grade resource. Eight drills will be employed starting in March. Later in the season an additional 20,000 metres is planned for grassroots targets and high grade targets in the northern parts of the property.

Another $7.3 million is budgeted for underground rehabilitation and development, principally to establish drill stations. Then 27,000 metres of drilling will be conducted for reserve definition, focused on the high grade Lunchroom, Obscene and 602 zones. Ascot expects an initial reserve of 600,00 to 750,000 oz of gold can be outlined.

Ascot’s Premier property includes the historic mine and mill that produced 2.1 million oz of gold and 44.9 million oz of silver. (Photo: Ascot Resources)

Engineering, environmental, resource and reserve studies will also be conducted in 2017. Initial scoping and environmental assessment studies will also be undertaken as the company plans for near term production.

See the latest corporate presentation posted at www.AscotResources.ca.