Ascot Resources, a junior resource company, has released the first gold resource estimate for its Big Missouri area on the Premier project located at the Stewart Camp of northwest British Columbia. The company has been focusing on this Big Missouri area from 2009 to 2011.
This mineral resource encloses about 20% to 25% of the Big Missouri target region and was selected in order to direct the upcoming work on this huge gold system. The resource estimate is based on the data obtained from 56,048 m of drilling inside 214 drill holes. These drill holes were performed by Ascot Resources between 2009 and 2011.
Westmin Resources carried out historic drilling, which was utilized to help with domain creation and interpretations. Westmin drill holes and Ascot drill holes were not included in the present resource estimate but indicate further potential in the target region. The mineral resource estimate for the Premier gold project was prepared by Garth Kirkham from Kirkham Geosystems, and this resource estimate is independent of the company for the purpose of NI 43-101 - Standards of Disclosure for Mineral Projects.
Indicated mineral resource is 1.29 M oz of gold and 7.94 M oz of silver using a cutoff grade of 0.2 g/t gold, and inferred mineral resource is 0.99 M oz of gold and 6.64 M oz of silver using a cutoff grade of 0.2 g/t gold. The company has started the drilling activity, and approximately 45-50,000 m of drilling has been scheduled for the year 2012.
Source: http://www.ascotresources.ca/s/Home.asp