Ascot Resources Ltd. - President & CEO, Derek White.
President & CEO, Derek White.
Source: YouTube.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ascot Resources Ltd. (AOT) has received bonanza grade gold assay results from the Premier Gold Project
  • Drilling was at the Sebakwe Zone with assays as high as 193 grams of gold per tonne
  • It defined visual mineralization at the Sebakwe Zone in multiple parallel vein structures
  • The program increased to 15 holes based on encouraging visual indications of mineralization and structure, and more assays are to come
  • Ascot Resources Ltd. (AOT) is down 5.55 per cent and is trading at $0.34 per share as of 4:02 p.m. ET

Ascot Resources (AOT) has received bonanza-grade gold assay results from the 2022 exploration drill program on the Premier Gold Project.

The project is located in British Columbia.

The company stated its focus for drilling was at the Sebakwe Zone near the past-producing Premier mill with assays as high as 193 grams of gold per tonne.

Source: Ascot Resources Ltd.

“Given its proximity to the Premier mill and planned underground mine development, Sebakwe is a compelling target for low-cost, accretive resource growth… deposits adjacent to the south are so far reaffirming our hypothesis that the Sebakwe Zone is a third parallel mineralized structure,” Derek White, President and CEO of Ascot, said.

Ascot claims it has defined visual mineralization at the Sebakwe Zone in multiple parallel vein structures over a strike extent of 70 metres and a vertical extent of 120 metres.

As drilling progressed, the company stated it increased the program to 15 holes totaling 6,091 metres at the Sebakwe Zone based on encouraging visual indications of mineralization and structure.

Eight reported Sebakwe drill holes intercepted the targeted quartz-breccia structures with sulphide mineralization, all of which encountered gold. This excludes one final hole, which stopped short due to hitting an underground void, likely a historic exploration tunnel.

The company is still waiting for assay results for the remaining nine holes drilled this year.

Ascot Resources Ltd. (AOT) is down 5.55 per cent and is trading at $0.34 per share as of 4:02 p.m. ET.

More From The Market Herald

" Altiplano (TSXV:APN) discovers new gold & copper zone at Maria Luisa

Altiplano Metals (APN) has made a discovery at the Maria Luisa Project.

" Infinity Stone (CSE:GEMS) to acquire Thor Manganite Project

Infinity Stone Ventures Corp. (GEMS) has secured an option to acquire the Thor Manganite project on the Magdalene Islands in Québec.

" Metallica Metals (CSE:MM) commences inaugural surface exploration program on its Sammy Ridgeline PGM Project

Metallica Metals (MM) has begun field mapping and prospecting work at its nickel-copper (Ni-Cu) Sammy Ridgeline Project.

" Wealth Minerals (TSXV:WML) partners with thyssenkrupp Mining Technologies to develop Ollagüe Salar

Wealth Minerals (WML) and thyssenkrupp Mining Technologies are partnering to develop Wealth Minerals’ Ollagüe Salar Lithium project in Chile.