Highlights from the
- 23.20g/t Au and 9.6g/t Ag over 2.00m in hole P20-2263
- 2.31g/t Au and 125.1g/t Ag over 5.93m in hole P20-2271
This news release summarizes the results from nine drill holes (for a total of 1,874m) at the
Although the Silver Hill drilling did not intercept ore grade material, the presence of elevated silver in the volcanic package just below the transition to sedimentary rocks is encouraging and requires follow-up drilling”.
The turnaround time for assay results has been exceptionally long this year. However, we expect to be reporting the balance of the 2020 drill season with results from the Woodbine area in the near future.”
This news release should be read in conjunction with previous news releases reporting high-grade gold intercepts from the
In an effort to follow up on the initial results from this area, two more drill platforms (Day-2 and Day-3) were established to the north and the east of the initial drill platform (Day-1). Platform Day-2 was established approximately 150m to the north of Day-1 to extend the mineralization in that direction. Five drill holes were completed from Day-2, successfully intercepting gold mineralization at a comparable depth to the mineralization established at Day-1. In addition, two of the drill holes intercepted mineralization at a shallower level. This was also observed in some of the holes at Day-1 and indicates the presence of shallower mineralized horizon in this area.
Drill pad Day-3 was established to the east of Day-1 to test the extension of the Province zone at the top of the ridge (see Figure 1). The drill holes intercepted a new zone of mineralization in quartz breccia that was previously untested. Further testing is required to investigate the connection to other areas of high grade.
The 2020 drilling in the
Figure 1 Topographic slice showing layout of the 2020 drilling at the
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c9f5b72-02b8-4b05-99dc-db58b86c7807
Table 1 Summary of exploration drill results from the
Hole # | pad | azimuth/dip | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
P20-2262 | Day-02 | 270/-55 | 16.50 | 18.00 | 1.50 | 2.41 | 3.4 |
and | 49.53 | 52.38 | 2.85 | 0.76 | 109.8 | ||
and | 166.33 | 168.33 | 2.00 | 1.98 | 6.1 | ||
P20-2263 | Day-02 | 270/-60 | 155.53 | 157.53 | 2.00 | 23.20 | 9.6 |
P20-2271 | Day-02 | 260/-50 | 38.12 | 39.12 | 1.00 | 1.10 | 4.6 |
and | 175.97 | 181.9 | 5.93 | 2.31 | 125.1 | ||
P20-2272 | Day-02 | 260/-60 | 192.94 | 194.94 | 2.00 | 1.55 | 6.9 |
P20-2273 | Day-02 | 45/-45 | 136.03 | 140.62 | 4.59 | 1.75 | 4.5 |
P20-2274 | Day-03 | 240/-55 | 105.36 | 107.31 | 1.95 | 1.85 | 2.7 |
and | 147.40 | 148.44 | 1.04 | 1.02 | 2.4 | ||
P20-2275 | Day-03 | 360/-70 | 144.40 | 145.40 | 1.00 | 1.95 | 3.2 |
and | 159.89 | 160.96 | 1.07 | 2.13 | 336.0 | ||
and | 210.91 | 212.71 | 1.80 | 1.07 | 10.6 | ||
and | 234.43 | 236.43 | 2.00 | 1.73 | 7.4 | ||
and | 267.36 | 268.36 | 1.00 | 1.16 | 1.6 | ||
P20-2276 | Day-03 | 120/-55 | No significant intercept | ||||
P20-2277 | Day-03 | 180/-73 | 181.49 | 182.73 | 1.24 | 1.08 | 5.9 |
and | 255.57 | 257.57 | 2.00 | 1.65 | 10.9 | ||
and | 267.30 | 268.76 | 1.46 | 2.15 | 10.8 | ||
and | 277.81 | 278.81 | 1.00 | 1.42 | 8.2 |
True width is uncertain as there is insufficient information about the orientation of mineralization in this area.
This paragraph should be read in conjunction with the news release dated
The exploration program at Silver Hill started with drill testing narrow high-grade silver occurrences at the edge of much younger dykes in a stratigraphic position that is prospective for VMS style mineralization. Geophysical data was collected along four profiles and outlines large areas of high chargeability. The 2020 drilling successfully intercepted anomalous silver away from the edges of dykes but associated with hydrothermal quartz-carbonate-pyrite veins confirming the prospectivity of the rock package. The Company will design an exploration program covering a larger area and expanding from the narrow strip of ground that has been drill tested to date.
Table 2 Summary of exploration drill results from
Hole # | pad | azimuth/dip | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
P20-2230 | SH-4 | 45/-45 | 167.57 | 169.51 | 1.94 | <0.005 | 1.7 |
and | 343.46 | 344.46 | 1.00 | 0.03 | 11.9 | ||
P20-2236 | SH-3 | 45/-50 | 70.81 | 72.28 | 1.47 | 0.01 | 14.1 |
and | 93.30 | 105.30 | 12.00 | 0.02 | 2.5 | ||
and | 123.50 | 125.50 | 2.00 | 0.13 | 26.5 |
True width is uncertain as there is insufficient information about the orientation of mineralization in this area.
Table 3 Drill pad locations
Pad # | UTM N | UTM E | Elevation (masl) | Hole no. |
Day-2 | 6219487 | 435946 | 1006 | 2262, 2263, 2271-2273 |
Day-3 | 6219366 | 436090 | 1029 | 2274-2277 |
SH-4 | 6221866 | 437458 | 1189 | 2230 |
SH-3 | 6221123 | 437106 | 1145 | 2236 |
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About
Ascot is a Canadian-based exploration and development company focused on re-starting the past producing historic Premier gold mine, located in
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All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements in respect of the closing of the Private Placement and the use of proceeds. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Ascot can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Ascot’s periodic filings with Canadian securities regulators, and assumptions made with regard to: the estimated costs associated with construction of the Project; the timing of the anticipated start of production at the Projects; the ability to maintain throughput and production levels at the
Figure 1
![](https://ml.globenewswire.com/media/3c9f5b72-02b8-4b05-99dc-db58b86c7807/medium/figure-1.png)
Topographic slice showing layout of the 2020 drilling at the Day Zone . The main zone can be traced between pad Day-1 and Day-2.
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