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Ascot Resources Update on Premier Gold Project

Mining News - Published on Tue, 13 Oct 2020

Image Source: Ascot Resources Premier Gold Project
Ascot Resources Ltd announced high-grade silver intercepts at the Silver Hill prospect at the Company's Premier Gold Project. These holes are from drill pad SH-02 at Silver Hill located 260 metres to the northeast of last year's intercepts from SH-01, demonstrating the presence of wide-spread mineralization in the area.

Highlights from Silver Hill include
1,320g/t Ag over 1.00m in hole P20-2211
154.3g/t Ag over 7.12m in hole P20-2220
4.31g/t Au over 1.00m in hole P20-2219

The Company completed six drill holes from three pads at Silver Hill in August 2020. This news release summarizes the results from four drill holes (for a total of 1,005m). Assays for the other two holes at Silver Hill and for additional holes from the Day Zone are pending and will be released as soon as they are available. We are experiencing delays at our assay lab caused by end of season crunch and reduced capacity for sample preparation due to Covid-19 procedures.

Derek White, President and CEO of Ascot commented, "The results from Silver Hill are very exciting. This prospect represents an area with different geology and a different target type than at the rest of the PGP. The northeastern part of our claims contains a volcanic/sedimentary contact similar to that which hosts the Eskay Creek deposit. In 2019 we intersected high-grade silver at the edge of much younger dykes and suspected that this mineralization was remobilised from a deeper source. The new results show mineralization to occur over a significant strike length and not exclusively related to dyke contacts. We believe that there is a hydrothermal system at the contact of volcanic and sedimentary units with the potential to have formed a deposit at this stratigraphic level. This interpretation is preliminary, but we are anticipating additional supportive results and are extremely keen to conduct further follow-up work in this area next year."

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Posted By : Yogender Pancholi on Tue, 13 Oct 2020
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