Highlights from the IP geophysics program include:
- Strong IP anomaly shows potential that the
Sebakwe Zone structure extends approximately 1,000 metres beyond the westernmost extent of surface drilling from 2022. - Day Zone IP signature continues approximately 800 metres to the north of previous surface drill results.
- Dilworth IP shows strong chargeability anomaly to the west and below where most drilling was previously focused.
With the potential for a 1,000 metre western extension of the
Figure 1 – Plan view of 28 IP lines in the 2023 PGP exploration program. IP lines shown in red and historical diamond drill holes shown in black.
https://www.globenewswire.com/NewsRoom/AttachmentNg/aba6bbfe-3d99-4d40-8dbc-46530d209c64
The IP grid to the west of the Sebakwe zone at the Premier Deposit (Figure 2) shows anomalous chargeability responses on all six profiles varying from deep and flat lying in the east to steeply dipping in the area between the mill and the Granduc road (Figure 3). The new profiles have established approximately 1,000 metres of anomalous response beyond the westernmost drill holes at the
Figure 2 – Northeast looking 3D view of IP cross sections stepping out west from the
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Figure 3 – IP profile 2 showing strong chargeability anomaly approximately 1,000 metres west of recent
https://www.globenewswire.com/NewsRoom/AttachmentNg/99d9e0d5-c95c-4d37-bd05-2fe6eb7fd493
The second IP grid targeted the northern extension of the
Figure 4 – East looking 3D view of IP lines stepping out north from the
https://www.globenewswire.com/NewsRoom/AttachmentNg/041fbf64-187c-4b15-ab82-3e6e1b7212cc
Figure 5 – IP profile 10 showing strong IP signature where the
https://www.globenewswire.com/NewsRoom/AttachmentNg/3f4da685-6f1d-4256-83cd-83ef7a95fa09
Dilworth Deposit
The northernmost IP grid covers the Dilworth deposit and its surroundings, an area of the property that is underexplored at this point in time. Dilworth mineralization shows up in near surface anomalies but the most significant outcome of the survey is a blind chargeability anomaly to the west of the Dilworth deposit that extends over a strike length of approximately 2,000 metres and appears to be open in both directions (Figure 6). Figure 7 shows an individual profile from the grid and a group of drill holes from 2008, one of which intercepted anomalous gold mineralization (hole HL08-18 intercepted 3.21g/t Au over 2.33m starting at 237m depth) at the stratigraphic contact between andesitic volcanics and deeper argillite. Outside of this drill hole, the anomalous zone is untested by drilling.
Figure 6 – Northeast looking 3D view of IP cross sections at the Dilworth deposit showing strong IP chargeability anomaly to the west and below where most drilling was previously focused
https://www.globenewswire.com/NewsRoom/AttachmentNg/239f5e97-5c6b-4465-b1ee-f2034e345f1b
Figure 7 – IP section 24 showing strong IP signature correlated with 2008 drillhole HL08-18 which intercepted 3.21g/t Au over 2.33m starting at 237m depth
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Qualified Person
On behalf of the Board of Directors of
“Derek C. White”
President & CEO
For further information contact:
VP,
dstewart@ascotgold.com
778-725-1060 ext. 1024
About
Ascot is a Canadian junior exploration and development company focused on re-starting the past producing Premier gold mine, located on Nisga’a Nation Treaty Lands, in British Columbia’s prolific
For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.ascotgold.com, or for a virtual tour visit www.vrify.com under
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release about anticipated future events may constitute forward-looking information under Canadian securities laws ("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", "targeted", "outlook", "on track" 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 are forward-looking statements, including statements in respect of the advancement and development of the PGP and the timing related thereto, the exploration of the Company’s properties and management’s outlook for the remainder of 2023 and beyond. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks associated with the business of Ascot; risks related to exploration and potential development of Ascot's projects; business and economic conditions in the mining industry generally; 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 indigenous 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; uncertainty as to timely availability of permits and other governmental approvals; risks associated with COVID-19 including adverse impacts on the world economy, construction timing and the availability of personnel; and other risk factors as detailed from time to time in Ascot's filings with Canadian securities regulators, available on Ascot's profile on SEDAR+ at www.sedar.ca including the Annual Information Form of the Company dated
Figure 1
Plan view of 28 IP lines in the 2023 PGP exploration program. IP lines shown in red and historical diamond drill holes shown in black.
Figure 2
Northeast looking 3D view of IP cross sections stepping out west from the Sebakwe Zone
Figure 3
IP profile 2 showing strong chargeability anomaly approximately 1,000 metres west of recent Sebakwe Zone drilling
Figure 4
East looking 3D view of IP lines stepping out north from the Day Zone and showing potential 800 metre extension where a lack of historical drilling has been done
Figure 5
IP profile 10 showing strong IP signature where the Day Zone was drilled in 2022
Figure 6
Northeast looking 3D view of IP cross sections at the Dilworth deposit showing strong IP chargeability anomaly to the west and below where most drilling was previously focused
Figure 7
IP section 24 showing strong IP signature correlated with 2008 drillhole HL08-18 which intercepted 3.21g/t Au over 2.33m starting at 237m depth
2023 GlobeNewswire, Inc., source