Ascot Resources Ltd. Discovers New Gold Zones at Premier
November 23 2009 - 4:26PM
Marketwired
Ascot (TSX VENTURE: AOT) is pleased to provide the drill results
for the balance of the 2009 drill campaign on the Premier property,
optioned from Boliden Ltd. (see June 15, 2009 press release). The
2009 program consisted of prospecting and trenching of historic
showings on the property as well as diamond drilling (48 holes
totaling 7465.30m) on fifteen different historic zones, some
previously untested. Previous reporting (September 22, 2009) had
released initial results up to drill hole P09-029.
The 2009 drill campaign was designed as an initial test of as
many targets as the season permitted, to determine the epithermal
gold mineralization potential of a steep dipping systems versus the
historic Westmin 'flat lying cherty tuff' model. The present
drilling has confirmed mineralization is steeply dipping, and is
open at depth and on strike, many of these targets have experienced
little or no prior drill testing. See accompanying property map for
locations.
The drill targets for the last part of the 2009 program
included:
Province:
Two holes P09-29 and 030 were the only holes in the 2009 program
to test between the surface, Province mineralization and the
underlying Big Missouri mineralization. The previously reported
hole P09-29 intersected a 11.0 meter interval grading 50.51 g/t
gold. Hole P09-30 is located 150 meters SE of hole P09-29 and
intersected several mineralized gold zones supporting a steeper
mineralized structural control connecting the Province
mineralization to underlying Big Missouri mineralization. This
opens up depth potential as well as strike potential on this
system.
Martha Ellen-Montana:
The 2009 drilling in the Martha Ellen area was designed to test
areas further east from the historic deposit, testing below the
large Premier porphyry body on the east side(P09-31-36).
Mineralization shows a relationship with the Premier porphyry with
mineralized zones within the dyke and in some cases below the dyke
along east dipping contacts not previously well recognized. While
gold grades are erratic wide intervals of silver mineralization
were encountered within good epithermal style mineralization
perhaps indicating metal zonation to silver dominant in this area.
Some examples of higher silver zones include P09-34 at 54.00-67.00
meters (13.00 meters) averaging 55.6 g/t Ag and at 87.00-91.00
meters (4.00 meters) averaging 89.5 g/t Ag.
Unicorn:
The Unicorn zone has been traced on surface for a strike length
of 1.5 km's N-S towards the S1 zone, which was drilled earlier in
the year. Three holes were drilled across the structure in the
central portion of the Unicorn zone during the 2009 program. Holes
P09-40, 41 and 42 were spaced approximately 100 meters apart to
test across this structure and in all cases encountered multiple
mineralized zones that are open for expansion. This area is
stratigraphically high in the volcanic complex and epithermal veins
contain low silver and base metal values and also previously
unrecognized Premier Porphyry dykes were encountered. This area was
in the past considered small due to limited fault bounded areas of
flat lying "cherty tuff" now simply recognized as silicification
proximal to epithermal veining in a steeper dipping system. This
zone remains open down dip and along strike.
Rambler:
This structural zone connects the Unicorn/Big Missouri area to
the Martha Ellen area over a strike length of 1.5 kilometers.
Extensive surface mineralization is present but no historic
drilling was found so three holes spaced approximately 300 meters
apart tested this structure in 2009 (P09-37, 43, 44). All three
holes encountered epithermal style gold mineralization and this
area remains open in all directions.
Golden Crown:
This area has seen limited historical work and is located
between the Province/Big Missouri area to the north and Silver Coin
to the south along the anomaly creek fault. Two holes tested a
single east-west section near the adit in 2009 (P09-45, 46). Both
holes encountered gold mineralized zones supporting steeply west
dipping mineralized zones in a North-South striking system. This
zone remains open to depth and for a strike length of approximately
700 meters into the Province area.
The 2009 drilling has accomplished the objectives of the program
to develop a working "Premier style" epithermal targeting system
and to demonstrate good gold potential on a number of untested or
poorly tested historic zones on the property. In numerous cases
steeply dipping structurally controlled mineralized zones show good
depth potential and in many cases show good strike potential
linking many of the historic showings together. The Premier Gold
Mine is a historical producer of 2 million ounces of gold and 42.8
million ounces of silver, until operations were suspended in 1996.
These positive 2009 results will be followed up in an expanded
program for the 2010 season.
--------------------------------------------------------
Hole From To Length Au
Zone No. (m) (m) (m) (g/t)
--------------------------------------------------------
Province P09-030 33.80 35.80 2.00 0.78
--------------------------------------------------------
also 43.80 45.80 2.00 1.01
--------------------------------------------------------
also 114.20 124.20 10.00 0.47
--------------------------------------------------------
also 218.00 248.00 30.00 0.56
--------------------------------------------------------
incl. 224.00 226.00 2.00 3.30
--------------------------------------------------------
Martha Ellen P09-031 76.00 78.00 2.00 1.12
--------------------------------------------------------
also 85.00 87.00 2.00 1.21
--------------------------------------------------------
also 174.00 186.00 12.00 0.35
--------------------------------------------------------
also 198.00 200.00 2.00 1.91
--------------------------------------------------------
Martha Ellen P09-032 100.39 100.73 0.34 20.56
--------------------------------------------------------
Martha Ellen P09-033 103.00 110.00 7.00 0.89
--------------------------------------------------------
Martha Ellen P09-036 145.75 146.39 0.64 14.43
--------------------------------------------------------
Rambler P09-037 62.79 64.00 1.21 2.93
--------------------------------------------------------
also 130.00 133.00 3.00 0.49
--------------------------------------------------------
also 139.16 139.91 0.75 1.84
--------------------------------------------------------
Silver Tip P09-038 75.90 76.30 0.40 3.01
--------------------------------------------------------
Silver Tip P09-039 27.70 28.20 0.50 1.47
--------------------------------------------------------
also 44.40 45.40 1.00 10.01
--------------------------------------------------------
Unicorn P09-040 16.30 17.30 1.00 3.39
--------------------------------------------------------
also 23.30 26.10 2.80 1.07
--------------------------------------------------------
also 31.60 32.30 0.70 1.98
--------------------------------------------------------
also 47.50 103.00 55.50 1.32
--------------------------------------------------------
incl. 48.50 56.10 7.60 1.63
--------------------------------------------------------
incl. 92.60 103.00 10.40 4.09
--------------------------------------------------------
incl. 99.00 103.00 4.00 7.34
--------------------------------------------------------
also 129.00 130.00 1.00 4.51
--------------------------------------------------------
also 149.30 161.30 12.00 1.86
--------------------------------------------------------
incl. 151.30 153.30 2.00 5.34
--------------------------------------------------------
Unicorn P09-041 19.00 20.00 1.00 1.29
--------------------------------------------------------
also 47.00 52.00 5.00 0.42
--------------------------------------------------------
Unicorn P09-042 33.20 34.85 1.65 0.78
--------------------------------------------------------
also 98.20 99.65 1.45 1.37
--------------------------------------------------------
also 106.40 126.49 20.09 1.43
--------------------------------------------------------
incl. 119.00 120.58 1.58 10.62
--------------------------------------------------------
also 150.50 152.53 2.03 0.80
--------------------------------------------------------
also 189.30 191.30 2.00 1.21
--------------------------------------------------------
also 223.30 246.34 23.04 1.80
--------------------------------------------------------
incl. 228.30 232.30 4.00 5.81
--------------------------------------------------------
Rambler P09-043 51.00 52.00 1.00 1.19
--------------------------------------------------------
also 121.40 137.00 15.60 0.57
--------------------------------------------------------
also 176.00 177.00 1.00 0.97
--------------------------------------------------------
also 194.80 211.80 17.00 0.35
--------------------------------------------------------
also 234.70 235.70 1.00 6.65
--------------------------------------------------------
Rambler P09-044 214.30 247.20 32.90 0.87
--------------------------------------------------------
incl. 214.64 230.10 15.46 1.27
--------------------------------------------------------
Golden Crown P09-045 17.60 18.60 1.00 6.02
--------------------------------------------------------
also 44.60 54.60 10.00 0.69
--------------------------------------------------------
also 65.90 66.90 1.00 0.82
--------------------------------------------------------
Golden Crown P09-046 82.00 87.00 5.00 0.58
--------------------------------------------------------
also 111.00 114.00 3.00 0.83
--------------------------------------------------------
also 127.37 134.00 6.63 2.76
--------------------------------------------------------
Quality Assurance/Quality Control
Analytical work is being carried out by Assayers Canada in
Vancouver, BC. Quality assurance and quality control programs
include the use of analytical blanks and standards in addition to
the labs own internal quality assurance program. Samples containing
greater than 200 g/t silver and greater than 10,000 ppm (1%) lead
and zinc are routinely re-assayed. Identified or suspected metallic
gold or silver are subjected to "metallics" assays. Sampling and
storage are at the company's secure facility in Stewart with weekly
sample shipments made to Assayers Canada.
Sue Deane GIT, Leif Bjornson, P. Geo and Graeme Evans, P. Geo
are providing the field management for the Premier exploration
program. Graeme Evans, designated as the Qualified Person (QP) as
defined by National Instrument 43-101 has prepared the technical
information in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.
John A. Toffan, President and Director
Statements contained in this news release that are not
historical fact, such as statements regarding the economic
prospects of Ascot's projects, Ascot's future plans or future
revenues, timing of development or potential expansion or
improvements, are forward-looking statements. Such forward-looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such
risks and uncertainties include, but are not limited to, Ascot's
ability to raise sufficient capital to fund development, changes in
economic conditions or financial markets, changes in prices for
Ascot's mineral products or increases in input costs, litigation,
legislative, environmental and other judicial, regulatory,
political and competitive developments in Canada or the United
States, technological and operational difficulties or inability to
obtain permits encountered in connection with our exploration and
development activities, labour relations matters, and changing
foreign exchange rates.
To view the map associated with this press release, please click
on the following link:
http://media3.marketwire.com/docs/aot1123.pdf
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Ascot Resources Ltd. Bob Evans (604) 684-8950 (604)
684-9877 (FAX) www.ascotresources.ca
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