Ascot Resources Ltd.
TSX VENTURE : AOT

Ascot Resources Ltd.

September 22, 2009 13:54 ET

Ascot Drills 11 Metres of 50 Grams Per Tonne Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2009) - Ascot (TSX VENTURE:AOT) is pleased to announce an update with significant gold results from the first 29 drill holes of the 2009 program, for which assays have been received to date. On June 15th Ascot Resources Ltd. announced the signing of an Option Agreement to purchase all of the assets of the Premier Gold Mine held by Boliden Ltd. in the Premier Gold Camp, north of Stewart, British Columbia in the Cassiar Mining District. On June 30th Ascot Resources Ltd. announced it had purchased a diamond drill, mobilized it to its Premier property and that drilling on the property had commenced. With a short field season it was decided to drill test numerous targets on this large property to validate existing areas, expand into untested areas and develop new geological models for targeting. This program will aid with ongoing compilations to prioritize the numerous occurrences on the property.

Initial drilling was confined to the Premier pit while drill permits were awaited. The first eleven holes confirmed previous work by Westmin and demonstrate additional potential in the pit area. Several holes were also selected to test the Power and Hope zones for additional extensions to these high grade zones near the Premier portal. The S1 pit area exposed mineralization in the pit wall in a new orientation than was previously recognized. The present drilling has opened up potential to the north and east of the existing pit. The Northstar area has seen little drill testing in this historic high grade zone and a series of 100 meter step out holes tested this target for depth potential. The Province holes (only one with results to date) are designed to test the potential of mineralized structures between the surface Province zone and the underlying Big Missouri zone. Previous work by Westmin had developed a shallow flat lying syngenetic "cherty tuff" model for Big Missouri area mineralization. Ascots 2009 work is applying an epithermal model based on the knowledge gained over a long period in the Premier mine area to test many of the targets on the balance of this large property. This is opening up significant depth potential and allows new targeting of many of the historic occurrences. Additional target areas drill tested to date (assays pending) include Martha Ellen, Montana, Silver Tip and Rambler with drilling continuing as weather permits.



Significant Drill Results to date (NB Gold Assays not cut):

Hole From To Length Au
Zone No. (m) (m) (m) (g/t)
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Premier Pit P09-001 13.00 36.90 23.90 2.39
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includes 28.20 34.60 6.40 7.94
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Premier Pit P09-002 21.50 46.20 24.70 6.85
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includes 41.50 45.20 3.70 40.43
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also P09-002 57.50 65.85 8.35 1.69
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Premier Pit P09-003 5.50 29.90 24.40 0.93
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includes 27.50 29.90 2.40 7.12
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Premier Pit P09-004 20.50 38.00 17.50 0.73
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Premier Pit P09-007 2.13 35.00 32.87 2.09
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includes 23.50 32.80 9.30 6.67
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Premier Pit P09-008 5.00 36.20 31.20 1.16
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includes 25.00 36.20 11.20 2.82
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includes 33.00 36.20 3.20 4.56
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Premier Pit P09-009 43.75 73.00 29.25 3.34
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includes 59.50 65.00 5.50 9.67
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Premier Pit P09-010 15.00 29.10 14.10 1.05
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Premier Pit P09-011 34.50 50.85 16.35 2.34
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includes 47.50 50.85 3.35 6.37
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Premier Pit P09-012 37.87 41.07 3.2 1.84
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Power P09-013 36.00 39.00 3.00 7.68
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Power P09-014 52.99 65.05 12.06 2.00
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includes 52.99 56.76 3.77 4.18
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S1 P09-022 45.00 48.00 3.00 15.25
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includes 45.00 45.25 0.25 146.00
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S1 P09-023 95.89 128.36 32.47 2.640
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includes 124.66 127.88 3.22 24.07
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Northstar P09-024 99.00 101.85 2.85 8.36
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Northstar P09-026 186.00 201.00 15.00 1.06
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Northstar P09-027 32.82 40.00 7.18 1.79
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also 182.50 188.50 6.00 5.00
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Northstar P09-028 23.50 35.50 12.00 2.60
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includes 23.50 27.50 4.00 6.63
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also 61.00 61.50 0.50 18.01
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Province P09-029 186.90 197.90 11.00 50.51
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includes 192.90 195.90 3.00 180.00
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includes 192.90 193.90 1.00 499.30
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In conjunction with drilling, prospecting crews are sampling many of the
showing areas as there is often little historic data. Chip sampling
results to date for a number of these showings includes (not true width):

Width Au Ag
Zone (m) (g/t) (g/t)
-------------------------------------------------------
Hope 8.0 3.75
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Hope 3.0 13.80
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S1 9.0 7.35
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Northstar 9.0 20.75
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Northstar 8.0 9.12
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Province 3.0 7.92
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Loui's 7.0 7.69
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Northstar 6.0 6.09
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Northstar 10.0 4.30
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Bruce's 3.0 24.67
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Golden Crown 8.0 7.33
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Silver Tip 14.0 4.25 1996.7
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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 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 and is responsible for the technical information in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.

John A. Toffan, President and Director

Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release relative to markets 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. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ascot Resources Ltd.
    John A. Toffan
    President and Director
    (604) 684-8950
    (604) 684-9877 (FAX)
    www.ascotresources.ca