Figure 1 – 3D view of the drill pad locations and drill hole traces reported in this release. Source: Ascot Resources

Ascot Resources (TSX:AOT) has reported the final set of assay results from its 2023 exploration drill program. This program was conducted at the company’s Premier Gold Project, which is situated on the Nisga’a Nation Treaty Lands within the Golden Triangle area of northwestern British Columbia, known for its mineral wealth. The announcement specifically relates to the Big Missouri deposit, located about six kilometres north of the Premier mill.

Derek White, President and CEO of Ascot Resources commented in a press release: “Our 2023 surface drilling program finished on a high note, with many planned stope shapes at Big Missouri being confirmed and, in some cases, expanded. We look forward to exploiting this material in the coming months and processing it at the Premier mill, where we anticipate starting pre-commissioning shortly. Similar confirmatory and expansion results were achieved in 2023 at the Prew Zone of the Premier Deposit, where underground access development is also being progressed. Overall, the 2023 drill program enhances our confidence in the geological model, which is all the more important as we become Canada’s next gold producer.”

The exploration drilling at Big Missouri, which forms part of the Premier Gold Project, took place from the beginning of August until the end of October 2023. During this period, a total of 72 holes were drilled from the surface, covering a cumulative length of 6,539 meters. The latest results come from 55 of these holes, spanning a distance of 5,293 meters. These holes were drilled from six different pads and included three holes at the Day Zone on the western side of Big Missouri Ridge.

The primary objective of this drilling exercise was to refine the shapes of various mining stopes. This was done by targeting additional pierce points and addressing gaps between stopes that resulted from previous drilling patterns. The drilling also aimed to explore extensions along the strike and up dip of the deposit. To provide a clearer understanding, the company included an overview of the drill hole locations (Figure 1), a summary of assay results (Table 1), and the coordinates for the drill pads (Table 2) in its report.

Figure 2 – 3D-cross section of drill holes from pad 23BM4. Gold mineralization in the new drill holes shows that the final stope shape will require only minor modifications. Source: Ascot Resources
Figure 3 – 3D-cross section of drill holes from pad 23BM5. High-grade gold was intercepted in between two stope shapes in holes P23-2543 (1 metre grading 10 g/t gold) and P23-2539, suggesting the potential for the stope shapes to expand and be connected. Source: Ascot Resources
Figure 4 – 3D-cross section of drill holes from pads 23BM3, 23BM2 and 23BM6. High-grade gold was intercepted in many areas outside of current stope shapes, such as near-surface to the east of pad 23BM2, or at depth as drilled from pad 23BM6. Source: Ascot Resources

Figures 2 to 4 in the report provide cross-sectional views of the reported drill holes. Importantly, Figure 2 highlights a large stope shape that has been more precisely defined by the recent drilling. For instance, drill hole P23-2532 intersected a notable gold grade of 58.18 grams per ton (g/t) over a 1.99-meter section at a depth of 70.8 meters.

The Day Zone, situated on the western flank of the Big Missouri ridge, was a particular focus. Three drill holes, P23-2515 to 2517, were executed in this area. Previously, the company had identified gold mineralization over a 550-meter strike length at the Day Zone. The potential for further expansion was indicated by IP geophysics conducted in 2023, suggesting a possible extension of 800 meters. While the drilling did encounter gold grades as high as 7.7 g/t, these were not consistent, indicating that further exploration and drilling will be necessary. The next phase of exploration aims to investigate the 1,000-meter unexplored gap between the Day Zone and the Martha Ellen deposit to the northwest.

Concurrently, underground mine development is progressing at the Big Missouri site, particularly in areas targeted for stoping. These areas are included in the near-term mining plans of Ascot Resources, indicating that the company is moving forward with developing this part of the Premier Gold Project.

Highlights from the results are as follows:

  • 58.18 g/t Au over 1.99m from a depth of 70.8m in hole P23-2532, including 77.45 g/t Au over 0.99m.
  • 9.89 g/t Au over 6.94m from a depth of 22.7m in hole P23-2509B, including 51.00 g/t Au over 1.19m
  • 8.26 g/t Au over 7.35m from a depth of 7.35m in hole P23-2506, including 30.88 g/t Au over 1.44m
  • 8.26 g/t Au over 5.57m from a depth of 16.9m in hole P23-2499, including 15.75 g/t Au over 1.27m

Table 1  Big Missouri drill results

Hole # Azimuth
/dip
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Ag
(g/t)
P23-2498 -59/70 8.30 11.40 3.10 3.78 35.51
incl. 9.40 10.40 1.00 5.18 68.40
and 19.45 23.20 3.75 7.43 25.97
incl. 21.10 22.15 1.05 21.20 54.30
and 100.30 108.10 7.80 3.15 6.34
and 127.05 129.03 1.98 2.88 5.40
P23-2499 -64/70 7.54 22.47 14.93 4.56 14.36
incl. 16.90 22.47 5.57 8.26 24.66
incl. 21.20 22.47 1.27 15.75 62.70
and 36.00 38.02 2.02 5.78 3.40
and 57.68 59.44 1.76 3.26 6.50
and 65.79 80.27 14.48 2.20 6.01
incl. 69.79 71.79 2.00 3.24 6.10
and 97.40 98.64 1.24 3.46 10.60
P23-2500 -61/78 8.10 21.69 13.59 2.61 14.86
incl. 19.62 21.69 2.07 5.74 31.30
and 39.82 48.00 8.18 1.25 5.66
and 102.11 110.70 8.59 2.50 15.21
and 122.70 126.69 3.99 2.94 4.86
incl. 122.70 123.83 1.13 5.04 8.80
P23-2501 -65/79 7.40 11.50 4.10 2.60 11.68
and 18.50 21.55 3.05 5.68 18.96
and 34.30 36.00 1.70 6.89 5.80
and 55.50 60.00 4.50 2.74 6.23
and 74.05 82.87 8.82 4.24 17.29
and 98.30 101.00 2.70 3.35 14.63
P23-2502 -50/82 8.71 11.90 3.19 3.67 11.20
and 18.85 22.97 4.12 4.05 15.85
incl. 20.69 21.81 1.12 8.27 17.20
and 113.25 117.35 4.10 1.93 8.10
P23-2503 -49/92 18.85 23.00 4.15 6.59 10.66
incl. 18.85 20.35 1.50 12.35 14.90
and 43.55 46.50 2.95 2.69 5.98
P23-2504 -60/100 12.34 18.84 6.50 4.22 7.06
incl. 17.20 18.84 1.64 6.96 10.10
and 53.34 61.62 8.28 1.32 19.78
and 97.48 101.24 3.76 1.57 68.56
and 121.15 124.18 3.03 2.95 26.41
P23-2505 -67/99 16.20 21.94 5.74 1.60 11.23
and 44.20 45.68 1.48 11.20 12.80
and 70.20 71.95 1.75 10.80 10.60
and 79.11 81.77 2.66 3.86 5.83
P23-2506 -52/100 13.90 21.25 7.35 8.26 12.84
incl. 19.81 21.25 1.44 30.88 38.45
and 26.40 27.40 1.00 8.67 8.30
and 42.20 44.20 2.00 2.30 6.20
and 111.65 112.56 0.91 1.88 18.20
P23-2507 -59/108 9.12 18.68 9.56 1.99 6.35
and 26.24 29.52 3.28 1.25 10.73
and 58.00 61.00 3.00 1.77 3.37
P23-2508 -57/115 13.10 20.20 7.10 1.46 7.02
and 125.77 130.37 4.60 2.78 27.37
incl. 127.26 128.37 1.11 5.11 71.70
P23-2509 -42/213 35.18 37.29 2.11 3.87 6.80
P23-2509B -43/204 22.65 29.59 6.94 9.89 6.37
incl. 22.65 23.84 1.19 51.00 16.00
P23-2510 -44/227 30.96 32.31 1.35 1.12 8.20
P23-2511 -44/257 31.40 39.36 7.96 3.84 9.05
incl. 31.40 33.77 2.37 7.36 15.47
P23-2512 -44/290 31.44 37.00 5.56 9.30 38.96
incl. 34.40 35.53 1.13 18.25 39.30
P23-2513 -43/307 30.40 33.75 3.35 1.69 5.07
and 36.75 39.75 3.00 1.67 7.60
P23-2514 -42/325 34.35 36.00 1.65 2.47 8.20
P23-2515 -86/68 5.00 6.75 1.75 1.22 4.50
P23-2516 -43/72 55.17 65.53 10.36 2.02 4.30
incl. 64.38 65.53 1.15 7.72 20.40
P23-2517 -59/72 42.40 44.40 2.00 1.55 0.90
and 50.40 52.16 1.76 1.14 1.90
P23-2518 -51/70 91.90 93.20 1.30 0.84 7.80
P23-2519 -50/109 90.52 97.50 6.98 1.83 3.75
incl. 96.00 97.50 1.50 4.11 4.90
P23-2520 -45/88 95.10 98.30 3.20 2.81 8.47
incl. 95.10 96.10 1.00 5.07 10.70
P23-2521 -46/102 86.71 87.88 1.17 2.13 3.90
P23-2522 -45/118 91.94 96.00 4.06 11.05 28.71
P23-2523 -46/138 87.17 92.10 4.93 2.80 10.31
and 114.84 124.60 9.76 5.77 4.38
incl. 114.84 116.00 1.16 32.90 9.70
P23-2524 -75/304 87.48 89.50 2.02 0.79 2.90
P23-2525 -58/341 82.20 91.08 8.88 4.99 4.43
P23-2526 -84/360 75.08 80.20 5.12 7.55 10.64
incl. 79.08 80.20 1.12 23.60 17.70
P23-2527 -70/357 77.71 83.40 5.69 2.46 4.06
P23-2528 -54/353 93.27 99.36 6.09 3.84 4.74
P23-2529 -63/28 82.94 88.24 5.30 2.92 4.50
P23-2530 -68/79 82.87 85.23 2.36 2.89 8.21
P23-2531 -71/142 73.76 79.76 6.00 3.79 3.43
and 87.24 87.80 0.56 2.85 7.50
P23-2532 -71/169 70.81 72.80 1.99 58.18 33.86
incl. 70.81 71.80 0.99 77.45 46.45
P23-2533 -58/173 81.08 83.86 2.78 1.61 6.30
P23-2534 -65/189 89.66 91.89 2.23 3.27 32.32
P23-2535 -55/189 87.79 89.21 1.42 1.65 2.00
P23-2536 -80/206 74.95 76.21 1.26 4.83 13.80
and 81.38 82.76 1.38 3.90 7.50
P23-2537 -71/199 88.89 90.70 1.81 5.27 18.40
P23-2538 -41/130 43.95 49.00 5.05 2.75 14.63
P23-2539 -50/151 42.00 49.00 7.00 2.88 4.60
incl. 44.00 45.27 1.27 5.57 7.20
P23-2540 -40/159 49.08 54.00 4.92 3.96 6.51
incl. 52.00 53.00 1.00 14.70 14.80
P23-2541 -41/162 49.00 51.00 2.00 4.87 6.15
P23-2542 -50/177 40.00 45.00 5.00 4.35 6.10
incl. 41.00 42.00 1.00 9.65 4.60
P23-2543 -53/195 30.52 32.31 1.79 1.75 2.10
and 36.88 39.07 2.19 2.45 4.76
P23-2544 -60/204 30.60 33.60 3.00 2.63 3.50
P23-2545 -55/215 31.70 34.70 3.00 4.98 6.53
P23-2546 -48/332 99.00 103.29 4.29 4.85 24.29
P23-2547 -63/333 67.64 70.57 2.93 6.49 9.92
and 77.00 80.67 3.67 2.92 7.50
P23-2548 -74/334 60.00 61.75 1.75 3.23 14.60
and 83.00 87.00 4.00 3.65 6.13
P23-2549 -64/349 65.00 67.50 2.50 3.08 5.06
and 70.50 72.50 2.00 2.72 7.05
P23-2550 -62/11 66.50 68.50 2.00 2.78 48.95
P23-2551 -76/24 70.00 73.50 3.50 2.76 5.14
incl. 70.00 71.00 1.00 5.00 5.00
and 80.14 83.00 2.86 2.00 5.88

Note: True widths are estimated to be between 70% to 90% of reported interval widths.

Table 2 – Drill pad locations

Pad # UTM N UTM E Elevation (masl) Hole no.
23BM2 436671 6219676 998 P23-2498 to P23-2514
23Day1 435816 6219437 926 P23-2515 to P23-2517
23BM3 436577 6219681 1042 P23-2518 to P23-2523
23BM4 436525 6219752 1050 P23-2524 to P23-2537
23BM5 436647 6219528 971 P23-2538 to P23-2547
23BM6 436766 6219582 965 P23-2548 to P23-2551

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Ascot Resources (TSX:AOT) has announced that recent assay results showed the highest grade intercept since 2017 of 488 g/t Gold Over 1.0 metre at the Big Missouri Deposit. This is the third batch of assay results at the deposit as part of the 2022 drill program at the Premier Gold Project. Results come from surface drilling for in-fill and exploration purposes at the site. Big Missouri is located roughly six kilometres north of the Premier mill, a past-producing mill in the Golden Triangle of northwestern British Columbia.

Derek White, President and CEO of Ascot Resources, commented in a press release: “The Big Missouri deposit continues to impress with more bonanza-grade gold and additional occurrences of coarse, visible gold. The headline intercept of 488 grams per tonne is the highest-grade interval Ascot has drilled since 2017, and the fourth-highest assay ever recorded at Big Missouri. The drill holes from this release contain 20 assays over 10 grams per tonne gold. Many of the high-grade intercepts were encountered within or around existing stope shapes, and some high grades were encountered in gaps between stope shapes – further strengthening our confidence that there is more gold to be discovered outside the existing resource model at Big Missouri.”

Highlights from the results are as follows:

  • 62.76 g/t Au and 27.36 g/t Ag over 7.90m from a depth of 90.00m in hole P22-2445, including 488.00 g/t Au and 181.00 g/t Ag over 1.00m
  • 30.98 g/t Au and 9.35 g/t Ag over 3.00m from a depth of 112.00m in hole P22-2445, including 90.70 g/t Au and 19.75 g/t Ag over 1.00m
  • 6.75 g/t Au and 12.44 g/t Ag over 14.5m from a depth of 26.00m in hole P22-2444, including 26.00 g/t Au and 28.30 g/t Ag over 1.43m and 28.80 g/t Au and 30.20 g/t Ag over 1.00m
  • 8.03 g/t Au and 19.13 g/t Ag over 9.52m from a depth of 23.38m in hole P22-2441, including 44.50 g/t Au and 109.00 g/t Ag over 1.00m
  • 6.26 g/t Au and 8.13 g/t Ag over 10.80m from a depth of 29.40m in hole P22-2442, including 43.60 g/t Au and 30.10 g/t Ag over 1.00m

Note: True widths are estimated to be between 60% to 80% of reported interval widths.

Source: Ascot Resources Ltd.
Source: Ascot Resources Ltd.

Drilling for the 2022 exploration season at the Big Missouri deposit was completed in October, totaling 50 holes and 4,752 metres. Following the first two batches of 28 drill holes outlined in the news releases dated September 13 and October 27, 2022, this release summarizes the third batch of assay results from the next 18 drill holes for a total of 1,798 metres from surface pads BM–2/22 and BM–3/22. Drill holes were targeting several layers of gold mineralization at the A Zone and the Unicorn Area of the Big Missouri deposit in and around planned stopes to the north and northeast of the S-1 pit.

As summary of drill assays is shown in Table 1. An overview of drill hole locations is shown in Figure 1 and a cross section is shown in Figure 2. This release contains the assay results from the last 5 holes drilled from pad BM–2/22 and all 13 holes drilled from pad BM–3/22, approximately 200 metres to the northeast.

The results are headlined by hole P22-2445 which intercepted 488.00 g/t Au and 181.00 g/t Ag over 1.00m, within a broader interval of 62.76 g/t Au and 27.36 g/t Ag over 7.90m, starting from a depth of 90.00m. This is the highest-grade interval Ascot has drilled since 2017, and the fourth-highest assay ever recorded at Big Missouri. This intercept along with an interval of 12.30 g/t Au in hole P22-2438 occurs within a group of lower grade intercepts that had previously not been wireframed and will now constitute a new zone of mineralization. Similarly, holes P22-2431 and P22-2434 intercepted high-grade gold in a large gap area between stope shapes, indicating potential to add more mineralization as mining progresses.

Figure 2 shows where the new drill holes intercepted high-grade gold within and near planned stope shapes, reinforcing the current wireframe geometry. This is showcased by the 44.50 g/t Au intercept in hole P22-2441, the 26.00 g/t Au intercept in hole P22-2444, and the 21.30 g/t Au intercept in hole P22-2436.

The remaining outstanding assay results from the 2022 exploration drill season consist of 12 holes drilled from underground at Big Missouri, 4 surface in-fill holes near the S1 pit at Big Missouri, and 12 holes drilled from two surface pads at the Day Zone on the western side of the Big Missouri ridge. The Company anticipates the receipt of all outstanding assays in early 2023.

Table 1 Big Missouri drill results

Hole # Azimuth

/dip

From

(m)

To

(m)

Width

(m)

Au

(g/t)

Ag

(g/t)

P22-2431 30/-49 84.00 86.00 2.00 3.34 8.90
and   105.12 109.72 4.60 5.84 5.59
P22-2432 61/-49 91.00 92.00 1.00 3.35 7.90
and   101.51 103.00 1.49 2.29 5.10
P22-2433 71/-46 45.00 48.00 3.00 2.46 10.43
and   53.87 59.00 5.13 1.83 5.41
and   73.16 75.36 2.20 1.59 4.00
and   83.00 84.00 1.00 3.72 4.40
P22-2434 28/-35 36.50 38.10 1.60 1.21 6.10
and   52.00 53.50 1.50 10.07 6.35
and   56.83 61.00 4.17 2.83 5.30
and   86.19 87.50 1.31 1.14 2.80
P22-2435 98/-50 32.50 37.13 4.63 1.40 5.15
and   88.00 90.00 2.00 1.09 2.30
P22-2436 240/-44 29.00 33.50 4.50 8.62 11.33
incl.   30.19 31.50 1.31 21.30 17.60
and   44.00 45.50 1.50 2.68 4.00
and   49.50 50.90 1.40 2.48 3.40
P22-2437 250/-55 19.65 21.70 2.05 11.72 12.91
and   34.65 36.45 1.80 1.11 3.90
and   44.95 46.15 1.20 1.15 9.30
P22-2438 253/-64 21.07 24.37 3.30 6.11 17.97
and   28.60 30.60 2.00 4.86 5.10
and   68.35 70.35 2.00 1.24 8.60
and   88.35 90.35 2.00 12.30 10.60
and   96.52 97.92 1.40 3.20 19.60
P22-2439 274/-82 16.21 18.26 2.05 5.56 5.40
P22-2440 274/-88 12.70 14.67 1.97 1.68 5.90
and   163.73 165.73 2.00 2.09 2.10
P22-2441 272/-45 23.38 32.90 9.52 8.03 19.13
incl.   31.90 32.90 1.00 44.50 109.00
P22-2442 292/-45 29.40 40.20 10.80 6.26 8.13
incl.   36.00 37.00 1.00 43.60 30.10
P22-2443 313/-45 40.90 44.85 3.95 1.68 3.01
P22-2444 354/-45 26.00 40.50 14.50 6.75 12.44
incl.   26.00 27.43 1.43 26.00 28.30
and   38.50 39.50 1.00 28.80 30.20
and   47.50 48.50 1.00 1.08 3.80
P22-2445 205/-60 30.81 32.43 1.62 1.61 3.70
and   80.00 83.58 3.58 8.34 2.83
incl.   80.00 82.00 2.00 13.55 3.80
and   90.00 97.90 7.90 62.76 27.36
incl.   92.00 93.00 1.00 488.00 181.00
and   112.00 115.00 3.00 30.98 9.35
incl.   113.00 114.00 1.00 90.70 19.75
P22-2446 226/-50 19.00 24.19 5.19 4.77 13.72
and   42.60 43.71 1.11 32.40 17.60
and   110.50 112.70 2.20 2.32 4.50
P22-2447 233/-84 12.25 20.00 7.75 3.25 4.78
incl.   14.00 16.00 2.00 7.41 6.60
and   41.54 43.70 2.16 2.89 2.00
P22-2448 228/-70 18.87 24.85 5.98 6.32 34.44
incl.   18.87 19.69 0.82 20.40 192.00
and   51.50 53.50 2.00 1.05 2.70

Note: True widths are estimated to be between 60% to 80% of reported interval widths.

Table 2 – Drill pad locations

Pad # UTM N UTM E Elevation (masl) Hole no.
BM-2/22 436530 6219505 997.3 P22-2431 to P22-2435
BM-3/22 436671 6219676 997.5 P22-2436 to P22-2448

The Big Missouri deposit hosts a probable reserve of 809 kt grading 7.15 g/t Au and 12.2 g/t Ag and containing 186 koz Au and 317 koz Ag, an indicated resource of 1,116 kt grading 8.36 g/t Au and 16.9 g/t Ag and containing 300 koz Au and 607 koz Ag, and an inferred resource of 1,897 kt grading 8.34 g/t Au and 14.7 g/t Ag and containing 508 koz Au and 896 koz Ag. These reserves and resources are outlined in the NI 43-101 technical report entitled “Premier & Red Mountain Gold Project Feasibility Study NI 43-101 Technical Report, British Columbia”, dated May 22, 2020, with an effective date of April 15, 2020.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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