Highlights from the drill results include:
- 98.84 g/t Au over 6.48m from a depth of 51.5m in hole P23-2490, including 691.50 g/t Au over 0.90m. This is the all-time second highest-grade drill intercept at Big Missouri and is the Company’s highest-grade drill intercept property-wide since 2015.
- 22.30 g/t Au over 9.72m from a depth of 58.3m in hole P23-2484, including 98.10 g/t Au over 1.91m
- 17.72 g/t Au over 5.65m from a depth of 21.4m in hole P23-2494, including 31.90 g/t Au over 1.60m
Note: True widths are estimated to be between 70% to 90% of reported interval widths.
Drilling for the 2023 exploration season at the Big Missouri deposit was conducted from early August until this past week, during which time 72 holes were drilled from surface for a total of 6,539 metres. The initial batch of assay results in this release contains the first seventeen holes totaling 1,246 metres, drilled from pads 23-BM1 and 23-BM2 that were aimed at stopes to the north of the S-1 pit at the Big Missouri deposit. The drill holes targeted stope shapes for additional pierce points, gaps between stopes due to previous drill patterns, and extensions along strike and up dip. An overview of drill hole locations is shown in Figure 1, a summary of assay results is shown in Table 1, and drill pad coordinates are provided in Table 2.
Cross sections of the drill holes reported in this release are shown in Figures 2 to 4 and Figure 5 shows visible gold in drill core from drill hole P23-2490 with a corresponding gold assay of 691.50 g/t Au, the second highest-grade assay of all-time from the Big Missouri deposit.
Table 1 – Big
Hole # | Azimuth /dip | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
P23-2481 | -44/252 | 27.60 | 32.44 | 4.84 | 2.69 | 9.9 |
incl. | 27.60 | 28.60 | 1.00 | 6.03 | 8.6 | |
P23-2482 | -48/253 | 23.49 | 26.49 | 3.00 | 2.29 | 4.6 |
P23-2483 | -44/269 | 23.35 | 25.60 | 2.25 | 2.41 | 6.2 |
and | 51.90 | 53.79 | 1.89 | 1.81 | 3.8 | |
P23-2484 | -43/285 | 23.47 | 28.04 | 4.57 | 2.52 | 8.6 |
and | 58.26 | 67.98 | 9.72 | 22.30 | 16.0 | |
incl. | 58.26 | 60.17 | 1.91 | 98.10 | 30.6 | |
P23-2485 | -65/317 | 18.07 | 19.22 | 1.15 | 0.94 | 23.7 |
P23-2486 | -70/360 | 16.77 | 23.09 | 6.32 | 3.23 | 7.7 |
incl. | 21.54 | 23.09 | 1.55 | 7.34 | 11.6 | |
P23-2487 | -49/122 | 44.04 | 46.04 | 2.00 | 1.03 | 2.7 |
P23-2488 | -50/136 | 27.00 | 28.32 | 1.32 | 2.44 | 4.9 |
and | 60.12 | 63.32 | 3.20 | 1.26 | 4.0 | |
P23-2489 | -65/136 | 30.40 | 32.40 | 2.00 | 2.03 | 4.8 |
P23-2490 | -49/146 | 51.46 | 57.94 | 6.48 | 98.84 | 33.4 |
incl. | 51.46 | 52.36 | 0.90 | 691.50 | 206.0 | |
P23-2491 | -59/168 | 28.75 | 30.35 | 1.60 | 5.70 | 7.9 |
and | 39.20 | 42.32 | 3.12 | 2.34 | 5.0 | |
P23-2492 | -74/170 | 20.00 | 31.85 | 11.85 | 3.90 | 9.1 |
incl. | 20.00 | 22.00 | 2.00 | 14.05 | 34.4 | |
P23-2493 | -64/191 | 60.44 | 61.72 | 1.28 | 5.60 | 3.9 |
P23-2494 | -64/346 | 21.35 | 27.00 | 5.65 | 17.72 | 34.6 |
incl. | 23.23 | 24.83 | 1.60 | 31.90 | 36.7 | |
P23-2495 | -43/355 | 36.00 | 43.00 | 7.00 | 2.76 | 4.1 |
P23-2496 | -59/52 | 19.63 | 23.02 | 3.39 | 2.69 | 7.2 |
incl. | 22.02 | 23.02 | 1.00 | 4.32 | 8.8 | |
and | 65.50 | 70.00 | 4.50 | 1.52 | 5.9 | |
and | 93.55 | 97.50 | 3.95 | 3.07 | 6.0 | |
incl. | 95.37 | 96.50 | 1.13 | 4.57 | 8.2 | |
P23-2497 | -60/62 | 8.29 | 22.40 | 14.11 | 2.32 | 6.1 |
incl. | 21.30 | 22.40 | 1.10 | 7.81 | 10.9 |
Note: True widths are estimated to be between 70% to 90% of reported interval widths.
Figure 1 – 3D view of the drill pad locations and drill hole traces reported in this release
Figure 2 – 3D-cross section of drill holes from pad 23-BM1 drilled in westerly direction. High grade mineralization in hole P23-2484 apparently downfaulted by approximately 2 to 3 metres. The shallow gold intercepts are wireframed but are not included in the current mine plan due to proximity to surface. The Company will consider options for extraction by different mining methods in the future. Two historical holes have been added for further context.
Figure 3 – 3D-cross section of drill holes from pad 23-BM1 drilled in northerly and southerly/southwesterly direction. Younger dykes obscure zone of gold mineralization at the stope level in holes P23-2485/86. The shallow gold intercepts are wireframed but are not included in the current mine plan due to proximity to surface. The Company will consider options for extraction by different mining methods in the future. Four historical holes have been added for further context.
Figure 4 – 3D-cross section of drill holes from pad 23-BM2.
Figure 5 – Visible gold in hole P23-2490, with a corresponding assay result of 691.50 g/t gold over 0.9m
Table 2 – Drill pad locations
Pad # | UTM N | UTM E | Elevation (masl) | Hole no. |
23-BM1 | 436663 | 6219576 | 979 | P23-2481 to P23-2493 |
23-BM2 | 436671 | 6219676 | 998 | P23-2494 to P23-2497 |
Qualified Person
Quality Assurance/Quality Control
Analytical work is being carried out by
Samples are dried and weighed by ALS. They are then crushed to 75% passing 2mm, with 250g split and pulverized to 85% passing 75µm. Samples are processed at the ALS preparation lab in Terrace and sent to ALS in
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
3D view of the drill pad locations and drill hole traces reported in this release
Figure 2
3D-cross section of drill holes from pad 23-BM1 drilled in westerly direction. High grade mineralization in hole P23-2484 apparently downfaulted by approximately 2 to 3 metres. The shallow gold intercepts are wireframed but are not included in the current mine plan due to proximity to surface. The Company will consider options for extraction by different mining methods in the future. Two historical holes have been added for further context.
Figure 3
3D-cross section of drill holes from pad 23-BM1 drilled in northerly and southerly/southwesterly direction. Younger dykes obscure zone of gold mineralization at the stope level in holes P23-2485/86. The shallow gold intercepts are wireframed but are not included in the current mine plan due to proximity to surface. The Company will consider options for extraction by different mining methods in the future. Four historical holes have been added for further context.
Figure 4
3D-cross section of drill holes from pad 23-BM2.
Figure 5
Visible gold in hole P23-2490, with a corresponding assay result of 691.50 g/t gold over 0.9m
2023 GlobeNewswire, Inc., source