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Ascot Resources Ltd (TSX: AOT; OTCQX: AOTVF) ("Ascot" or the "Company") is pleased to announce the results from forty-two (42) drill holes completed at the Big Missouri deposit of Ascot's Premier Gold Project ("Premier") near Stewart in northwestern British Columbia. These results should be considered in conjunction with previous news releases on Big Missouri dated June 27, July 17, July 25, August 8 and August 27.
Highlights of this release include:
-- 22.54g/t Au over 5.50m in hole P19-1999
-- 24.90g/t Au over 2.06m in hole P19-2020
-- 149.00g/t Au over 1.00m in hole P19-2070
Derek White, President and CEO of Ascot commented, "In 2019, the Company drilled just over 24,000 metres in 147 holes at Big Missouri with a total of 321 reported gold intercepts. In the past, Big Missouri was drilled to demonstrate wide zones of lower grade gold for open pit mining. Over the past two years the Company has focussed drilling on higher grade underground targets, especially around the S1 pit and Unicorn areas. We will incorporate this new drill data into an updated resource estimate.
"Big Missouri is a large area with enormous potential. We are confident that the drilling will convert a substantial amount of our inferred resources to the indicated category for our mine planning and the upcoming feasibility study."
The Big Missouri deposit is located approximately five kilometres to the north of the Premier mill along the Big Missouri haul road. Westmin Resources previously mined gold from the S1 pit at Big Missouri and in the first half of the 20 century the deposit had limited production from underground. Mineralization at Big Missouri covers a large area and gold zones are present at three different stratigraphic levels in sub-horizontal zones with a gentle westerly dip. The drill program at Big Missouri was designed to convert a portion of the inferred resources to the indicated category. This news release completes the reporting of infill drilling from Big Missouri.
Drill Results
This news release presents the results from 42 drill holes, comprising 6,297 metres of drilling, completed from nine separate pads into the Big Missouri deposit. This set of holes was completed to test an area to the south of the S1 pit and the Unicorn area to the north (see figure 1). It is interesting that holes P19-2142 and P19-2145 intercepted gold mineralization as these holes were drilled for geotechnical purposes at a proposed portal site in the southern high wall of the S1 pit. This is the second proposed portal site where gold mineralization was intercepted during geotechnical investigations. The proximity of gold mineralization to a proposed access point is a very positive development in the course of our work towards restarting gold production at the Premier mill.
The drill results are favourable with gold intercepts at expected depth and confirming previously established orientations of mineralized zones. Figure 2 shows a cross section of drill holes P19-2109 and P19-2110 that were designed to follow up a previous high-grade intercept in hole P14-608 (83.5g/t Au over 1.52 metres). The drill holes intercepted gold mineralization at similar depth and are now aiding to establish one of the modeled zones, in this case solid 79 (see Figure 2). As a result of the two new drill holes, some of the ore blocks in the vicinity of the three holes will potentially qualify to be classified in the indicated category in an area where blocks were classified as inferred previously.
The results from the final set of drill holes at Big Missouri are summarized in Table 1 and the pad locations are listed in Table 2.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/927162f4-07d5-4aa3-8a34-6956c9e1b0a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/b629c5bc-6413-4c5e-bcae-54330d18ce0d
Table 1 Summary of drill results from Big Missouri
Hole # pad azimuth/dip From (m) To Width Au Ag
(m) (m) (g/t) (g/t)
P19-1994 BM-37 298/-45 107.00 117.98 10.98 2.04 4.2
also 127.09 128.09 1.00 3.45 4.0
P19-1995 BM-37 276/-53 123.74 125.74 2.00 2.62 3.0
P19-1996 BM-37 270/-76 122.00 125.00 3.00 2.54 3.3
also 141.33 141.94 0.61 2.19 2.0
and 149.65 150.65 1.00 3.86 9.0
P19-1997 BM-37 270/-87 144.03 152.03 8.00 1.25 4.8
P19-1998 BM-37 240/-67 5.20 7.20 2.00 2.73 21.0
also 98.80 102.20 3.40 1.36 6.2
and 121.78 123.78 2.00 4.47 3.0
and 141.35 142.40 1.05 3.24 4.0
and 166.00 168.00 2.00 2.02 3.0
P19-1999 BM-37 226/-75 4.88 6.88 2.00 2.75 13.0
also 147.10 152.60 5.50 22.54 8.3
incl. 149.10 151.10 2.00 45.30 11.0
P19-2000 BM-37 155/-79 73.86 74.86 1.00 2.51 11.0
also 128.50 130.10 1.60 2.42 9.0
and 157.00 159.00 2.00 2.20 2.0
and 161.30 162.30 1.00 2.94 6.0
and 164.81 168.40 3.59 1.95 8.5
P19-2005 BM-37 45/-48 94.43 95.93 1.50 6.41 28.0
P19-2014 BM-17 90/-74 59.50 62.50 3.00 3.32 10.7
also 66.50 67.50 1.00 3.85 16.0
and 71.50 73.50 2.00 4.05 11.5
P19-2015 BM-17 90/-82 65.28 70.50 5.22 2.51 10.1
also 91.00 92.00 1.00 3.30 7.0
and 114.50 118.00 3.50 3.28 13.5
P19-2016 BM-17 0/-59 57.00 59.00 2.00 8.01 7.0
also 88.00 89.00 1.00 4.85 9.0
P19-2017 BM-17 310/-85 62.00 65.06 3.06 3.33 11.91
P19-2018 BM-30 240/-50 11.47 12.47 1.00 1.91 5.0
P19-2019 BM-30 90/-77 34.50 35.50 1.00 2.47 8.0
also 50.00 52.00 2.00 2.65 9.0
P19-2020 BM-30 270/-64 22.00 23.50 1.50 2.88 4.0
also 35.94 38.00 2.06 24.90 7.0
and 63.00 65.00 2.00 3.65 17.0
and 148.94 151.00 2.06 2.08 3.0
P19-2021 BM-30 270/-82 no significant intercept
P19-2022 BM-30 90/-86 8.05 9.05 1.00 9.40 12.0
also 71.70 73.70 2.00 2.99 8.0
and 94.30 95.30 1.00 21.20 9.0
and 118.50 119.50 1.00 2.51 5.0
P19-2023 BM-30 90/-65 9.50 10.50 1.00 2.76 3.0
also 22.78 23.78 1.00 5.72 22.5
and 106.70 108.70 2.00 3.04 10.0
and 114.10 117.25 3.15 5.78 13.0
P19-2067 BM-33 90/-66 9.10 13.10 4.00 3.57 21.5
also 19.83 21.83 2.00 5.53 23.5
and 28.04 30.04 2.00 2.56 7.0
and 34.24 36.24 2.00 7.21 4.0
and 73.35 86.15 12.80 3.44 13.5
incl. 78.57 80.57 2.00 6.66 27.0
and 111.06 117.79 6.73 2.73 10.6
and 137.00 138.00 1.00 9.70 7.0
P19-2068 BM-33 90/-86 18.36 23.50 5.14 5.68 10.6
also 38.25 39.57 1.32 9.39 8.0
and 130.73 132.00 1.27 3.20 77.5
P19-2069 BM-33 30/-47 17.02 26.77 9.75 2.15 15.4
P19-2070 BM-33 270/-82 149.50 150.50 1.00 17.70 17.0
also 154.50 155.50 1.00 149.00 67.0
P19-2071 BM-33 270/-72 22.50 24.50 2.00 9.40 10.0
P19-2075 BM-33 90/-60 18.55 22.41 3.86 8.02 26.3
incl. 20.41 21.14 0.73 12.20 39.0
also 58.42 60.42 2.00 2.99 6.0
and 114.67 121.95 7.28 4.73 15.7
incl. 121.24 121.95 0.71 9.50 22.0
and 125.42 126.42 1.00 2.80 18.0
and 154.45 155.45 1.00 6.80 8.0
and 170.00 172.00 2.00 5.76 5.0
P19-2100 BM-44 280/-64 22.00 24.00 2.00 7.34 12.0
also 100.00 101.00 1.00 1.87 3.0
P19-2101 BM-44 280/-55 135.94 137.50 1.56 1.99 8.0
also 140.50 142.00 1.50 1.96 6.0
P19-2102 BM-44 11/-82 73.70 76.00 2.30 2.16 8.0
P19-2103 BM-44 280/-84 31.00 32.48 1.48 7.67 16.0
also 98.00 99.00 1.00 4.08 5.0
and 144.90 147.00 2.10 2.02 3.0
P19-2104 BM-44 62/-72 83.00 85.00 2.00 2.57 8.0
also 111.00 113.00 2.00 2.07 16.0
P19-2105 BM-44 135/-76 17.85 18.91 1.06 2.22 13.0
also 99.08 100.50 1.42 1.70 32.0
P19-2106 BM-02 90/-49 63.09 66.24 3.15 5.51 21.3
incl. 64.09 65.09 1.00 9.67 22.0
also 117.16 120.25 3.09 5.61 30.6
incl. 118.70 120.25 1.55 8.27 47.0
P19-2107 BM-02 90/-64 36.29 37.65 1.36 8.56 10.0
P19-2108 BM-02 90/-75 8.84 10.84 2.00 3.05 12.0
P19-2109 BM-01 280/-60 214.31 215.67 1.36 5.48 12.0
P19-2110 BM-01 280/-72 173.36 174.61 1.25 1.12 2.5
P19-2119 BM-48 285/-48 109.62 111.55 1.93 1.01 5.0
P19-2120 BM-48 268/-50 59.00 60.45 1.45 1.57 3.0
P19-2121 BM-48 249/-67 18.35 22.66 4.31 4.31 15.4
incl. 18.35 20.00 1.65 6.12 16.0
also 116.50 117.50 1.00 4.04 26.0
P19-2122 BM-48 228/-75 12.17 13.59 1.42 1.85 18.0
P19-2141 GT-BM-02 290/-52 no significant intercept
P19-2142 GT-BM-02 290/-85 22.00 24.00 2.00 2.08 3.0
P19-2145 GT-BM-02 290/-38 92.41 93.56 1.15 12.00 10.0
True width is estimated to be approximately 70-90% of reported intercepts. The drill holes that are missing in the sequence have already been reported or are geotechnical holes.
Table 2 Drill pad locations
Pad # UTM N UTM E Elevation Hole no.
BM-01 6219000 436330 1049 2109, 2110
BM-02 6219128 436357 1058 2106-2108
BM-17 6219585 436765 965 2014-2017
BM-30 6219650 436675 992 2018-2023
BM-33 6219675 436667 1000 2067-2071, 2075
BM-37 6219775 436772 1018 1994-2000, 2005
BM-44 6219867 436760 1028 2100-2105
BM-48 6219911 436722 1022 2119-2122
GT-BM-02 6219209 436496 1002 2141, 2142, 2145
Quality Assurance/Quality Control
Lawrence Tsang, P. Geo., the Company's Senior Geologist provides the field management for the Premier exploration program. John Kiernan, P. Eng., Chief Operating Officer of the Company is the Company's Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
Analytical work is being carried out by SGS Canada Inc ("SGS"). Ascot's quality-assurance and quality-control program includes the use of analytical blanks to monitor for cross contamination, certified reference material standards to assess analytical accuracy, and duplicate samples to quantify sampling precision. This is in addition to the internal quality assurance program employed by SGS.
Samples are dried and weighed by SGS. They are then crushed to 75% passing 2mm, with 250g split and pulverized to 85% passing 75um. Samples are processed on site by a mobile lab supplied by SGS and run by SGS personnel. All splits are sent to SGS in Burnaby. There, all samples are digested using aqua-regia with an ICP-AES finish and fire assay with AA finish for gold. Samples over 100ppm silver are digested with aqua regia and then volumetrically diluted before an ICP-AES or AA finish (up to 1,500ppm). Samples over 1,500ppm silver are fire assayed with a gravimetric finish. Samples over 10ppm gold are 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.
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com or visit the Company's web site at www.ascotgold.com, or for a virtual tour visit www.vrify.com under Ascot Resources.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ASCOT RESOURCES LTD.
"Derek C. White", President and CEO
For further information contact:
Kristina Howe
VP, Investor Relations
778-725-1060 / khowe@ascotgold.com
About Ascot Resources Ltd.
Ascot is a Canadian-based junior exploration company focused on re-starting the past producing historic Premier gold mine, located in British Columbia's Golden Triangle. The Company continues to define high-grade resources for underground mining with the near-term goal of converting the underground resources into reserves, while continuing to explore nearby targets on its Premier/Dilworth and Silver Coin properties (collectively referred to as the Premier project). Ascot's acquisition of IDM Mining added the high-grade gold and silver Red Mountain project to its portfolio and positions the Company as a leading consolidator of high- quality assets in the Golden Triangle.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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