Posted in | Gold | Mining Business

Ascot Resources Provides Update on 140,000-Meter Surface Drill Program at Premier Property

On March 14, 2017 Ascot Resources (TSX VENTURE:AOT) announced that, owing to a low snow pack and an aggressive snow clearing program, the surface drilling portion of its $20 million 2017 exploration and development budget had commenced. The Company is now pleased to report that it has four drills operating at Premier with one more expected to be added next week and then two further drills added before the end of the month. Seventeen holes have been completed to date for a total of 5,525 meters. Results from the drilling will be announced on a regular basis throughout the season.

As announced on January 19, 2017 this surface drilling program is planned to consist of approximately 120,000 meters which is targeted to establish an initial 2-3 million ounce high grade gold resource. This work will require up to 8 drill rigs. Later in the season an additional 20,000 meters of drilling is planned to explore grassroots targets and high grade areas in the northern portions of the property. The budget for the surface drilling is $13.0 million.

Graeme Evans, designated as the Qualified Person (QP) as defined by National Instrument 43-101 has prepared the technical information in this news release.


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