Ascot reports high-grade intercepts from Silver Coin deposit

2.12.2019, 22:04 - eeppo

Ascot Resources released the results of 27 drill holes completed on the Silver Coin deposit at its Premier gold project. Drill highlights include:

  • Hole P19-2079 returning 3.59 metres of 52.67 g/t gold starting at 103 metres
  • Hole P19-2060 returning 1 metre of 32.50 g/t gold starting at 147 metres
  • Hole P19-2081 returning 4 metres of 16.56 g/t gold starting at 99 metres

Silver Coin is located approximately 5 km north of the Premier mill. In 1991, the deposit produced 102,500 tonnes grading 8.88 g/t gold. It features existing historical underground infrastructure.

According to the company, current release features holes testing the central and southern parts of the Silver Coin deposit. In the central part of the deposit, the drilling confirmed the current geological model. Additional drilling is required for the periphery of the deposit.

The company has re-opened the southern access portal at Silver Coin to allow future infill drilling to be conducted from the underground workings.

Ascot acquired the Silver Coin deposit in 2018.

Current indicated resources at Silver Coin stand at 859,000 tonnes grading 8.01 g/t gold for a total of 221,000 oz. with additional inferred resources of 1.16 million tonnes at 7.78 g/t gold for a total of 289,000 ounces.

At the Premier project, there are currently five deposits with NI 43-101 resource estimates.

In addition to Premier, Ascot also holds the Red Mountain project within B.C.’s golden triangle with work progressing towards an integrated feasibility study.

(This article first appeared in the Canadian Mining Journal)