Ascot Resources Ltd. Discovers New Gold Zones at Premier
November 23 2009 - 3:26PM
Marketwired Canada
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.
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Hole From To Length Au
Zone No. (m) (m) (m) (g/t)
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Province P09-030 33.80 35.80 2.00 0.78
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also 43.80 45.80 2.00 1.01
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also 114.20 124.20 10.00 0.47
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also 218.00 248.00 30.00 0.56
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incl. 224.00 226.00 2.00 3.30
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Martha Ellen P09-031 76.00 78.00 2.00 1.12
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also 85.00 87.00 2.00 1.21
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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
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also 130.00 133.00 3.00 0.49
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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
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also 44.40 45.40 1.00 10.01
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Unicorn P09-040 16.30 17.30 1.00 3.39
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also 23.30 26.10 2.80 1.07
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also 31.60 32.30 0.70 1.98
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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
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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
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