High grades continue for Ascot at Silver Coin

TFT-admin | January 6, 2020

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A drill site at Ascot Resources’ Premier project. Credit: Ascot Resources

The latest results from the Silver Coin deposit at Ascot Resources’ Premier gold project continue to suggest presence of high-grade mineralization at this zone.

Drill highlights include:

  • 6.69 metres of 30.81 g/t gold;
  • 3.2 metres of 28.96 g/t gold;
  • 4.59 metres of 12.24 g/t gold.

“The new intercepts underpin a better understanding and predictability of the geological model and provides Ascot a stronger base to work from for the development of the forthcoming updated resource statement and feasibility study,” Derek White, Ascot’s president and CEO said in the release.

These latest drill results were testing the northern and southern extents of the Silver Coin deposit. According to the company, the infill results came in ahead of forecasts with an expected positive impact when integrated into the forthcoming resource update for the project.

The Silver Coin deposit is located 5 km north of the Premier mill and 800 metres south of the Big Missouri deposit.

Based on processing at the Premier mill in 1991, Silver Coin ore averaged 8.88 g/t gold. Ascot acquired this deposit in 2018 and is currently preparing an associated mine plan using side hill access.

Current Silver Coin indicated resources stand at 859,000 tonnes grading 8.01 g/t gold for a total of 221,000 oz. with additional inferred resources of 1.2 million tonnes grading 7.78 g/t gold for a total of 289,000 oz with additional contained silver in both categories.

Premier is situated within B.C.’s Golden Triangle and is host to five deposits with existing resource estimates. Ascot also holds the Red Mountain project, an estimated 10 km away. The Premier project is host to a mill, tailings facility and water treatment plant as well as historical underground workings.

Work is currently underway on an integrated feasibility study. Last month, Ascot released results of drilling on the central and southern parts of Silver Coin.

(This article first appeared in the Canadian Mining Journal)