Apr 26 2019
Ascot Resources Ltd takes immense pleasure in announcing the commencement of Phase 1 of its 2019 drilling program at the flagship Premier Project, situated near Stewart, British Columbia on April 17th, 2019.
This first program will include drill testing exploration targets, step out drilling from established mineralization, and advancement of resources in priority regions of the property.
Commencing drilling is the first step in an aggressive 2019 program at our advanced-stage properties in the Stewart area. Our objective is to expand and upgrade high-grade gold and silver resources to be included in upcoming economic studies to realize our vision of advancing to production as quickly as possible. We will be announcing further updates to our execution strategy in the near future.
Derek White, President and CEO, Ascot Resources.
Spring Drilling Program
On April 17th, 2019, Ascot’s 15,000 m Phase I drill program started with step-out drilling at high-grade expansion targets in the Northern Lights area, which is situated just east of the Premier mill facility. The Company aims to strongly follow the investigation of geophysical and other high-grade targets that were established in 2018. The snow pack is not as wide as in 2018, which previously enabled access to target regions.
In early May, the Company will commence a follow-up induced polarization geophysics survey program to better describe the strike and the dip of different targets for optimal drill orientation, aiming at high-grade discoveries.
Along with the exploration and resource expansion drilling, the Company is setting up an infill and geotechnical program for the Big Missouri resource and Silver Coin regions. The objective is to advance resources, specifically high-grade regions with good width that could possibly be made use of in early years of operations. These resources will be taken into consideration in future economic studies, permitting, and permit amendment activities.
Furthermore, the Company is aiming to accomplish a resource update and an updated Feasibility Study at the recently acquired Red Mountain Project within the next few months. Further announcements on engineering and permitting will be issued shortly.