Ascot Resources Ltd.
TSX VENTURE : AOT

Ascot Resources Ltd.

July 28, 2017 07:47 ET

Ascot Resources Intersects 190.5 g/t Au Over 1.20 Meters in the New Highgrade Ben Subzone at Northern Lights

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2017) - Ascot Resources Ltd. (TSX VENTURE:AOT) -

The Premier property covers more than one hundred square kilometres near the town of Stewart in northwest BC, and includes the old Premier Mine, a past producer of 2.1 MOz Au and 44.9 MOz Ag.

Highlights of Release:

  • In this fourth set of results for 2017, the Northern Lights main zone continues to deliver good results. Most holes in this release come from the newly discovered Ben Subzone in the upper southeast portion of the Northern Lights main zone. Included in this release are P17-1366 which returned 190.50 g/t Au over 1.20 meters within a zone grading 8.57 g/t Au over 30.57 meters and P17-1334 which returned 99.60 g/t over 1.00 meter within a zone grading 17.30 g/t Au over 6.50 meters. This loosely defined new discovery of a higher grade in the Ben subzone has a general gentle west plunge and remains open in both plunge directions.

  • A new subzone is being defined below the Ben Subzone with a similar gentle westerly plunge. Recent results from this zone include P17-1313 with 70.70 g/t Au over 1.00 meter within a wider interval grading 10.31 g/t Au over 11.90 meters. A previously reported hole in this target area P17-1269, returned 1135.00 g/t Au over 0.50 meter within a broader zone of 36.31 g/t Au over 16.15 meters. This subzone also remains open in both plunge directions.

  • New drill highlights include:

Hole # Zone Comment From m's To m's Width m's Au
(g/t)
Au Cut*
(g/t)
Ag
(g/t)
Zn %
P17-1332 Ben Subzone 261.52 328.57 67.05 0.75 0.75 8.0 0.43
incl. 269.20 305.00 35.80 1.09 1.09 10.7 0.63
incl. 269.20 277.00 7.80 1.96 1.96 28.6 0.91
incl. 275.00 277.00 2.00 3.87 3.87 10.0 0.79
P17-1334 Ben Subzone 170.16 206.45 36.29 3.62 1.83* 35.2 0.24
incl. 180.00 186.50 6.50 17.30 7.26* 52.8 0.17
incl. 185.50 186.50 1.00 99.60 34.29* 61.2 0.61
P17-1335 Ben Subzone 224.00 267.50 43.50 1.99 1.99 5.4 0.22
incl. 224.00 240.00 16.00 4.85 4.85 10.8 0.27
incl. 236.00 240.00 4.00 17.60 17.60 21.3 0.70
incl. 237.44 239.00 1.56 29.10 29.10 29.0 1.02
also 296.50 340.00 43.50 0.90 0.90 5.1 0.20
incl. 299.00 312.00 13.00 1.07 1.07 6.6 0.24
incl. 327.50 335.00 7.50 1.64 1.64 5.1 0.27
P17-1339 New Subzone 215.50 225.50 10.00 2.34 2.34 5.2 0.14
incl. 219.98 220.98 1.00 21.30 21.30 31.2 1.28
also 300.00 336.50 36.50 0.62 0.62 4.4 0.05
incl. 318.00 330.00 12.00 1.27 1.27 3.8 0.07
incl. 327.18 330.00 2.82 2.29 2.29 5.6 0.07
P17-1342 Ben Subzone Hit Adit 226.30 230.97 4.67 5.87 5.87 7.4 2.02
incl. 227.80 228.80 1.00 20.20 20.20 19.20 7.27
P17-1347 Ben Subzone 229.87 245.87 16.00 1.91 1.91 20.3 0.24
incl. 238.28 240.20 1.92 13.35 13.35 97.6 1.64
incl. 238.28 239.20 0.92 17.45 17.45 120.0 2.11
also 254.00 280.83 26.83 0.44 0.44 9.1 0.21
incl. 269.00 277.50 8.50 0.84 0.84 7.9 0.14
P17-1357 Ben Subzone 204.50 277.00 72.50 1.35 1.35 8.6 0.55
incl. 205.70 233.50 27.80 3.07 3.07 17.6 1.09
incl. 205.70 208.70 3.00 10.07 10.07 23.1 1.83
incl. 207.70 208.70 1.00 18.30 18.30 17.6 2.93
also 230.50 231.50 1.00 10.20 10.20 36.3 3.45
P17-1359 Ben Subzone 222.90 319.40 96.50 1.33 1.33 7.3 0.20
incl. 222.90 225.00 2.10 4.58 4.58 74.0 2.17
incl. 255.00 257.00 2.00 30.10 30.10 93.7 0.16
incl. 290.00 318.00 28.00 1.60 1.60 4.1 0.12
incl. 298.00 312.00 14.00 2.21 2.21 5.6 0.17
incl. 308.00 312.00 4.00 3.40 3.40 5.5 0.17
P17-1363 Ben Subzone 218.00 301.00 83.00 0.85 0.85 3.7 0.13
incl. 260.00 289.00 29.00 1.91 1.91 3.9 0.21
incl. 285.00 289.00 4.00 7.44 7.44 5.0 0.11
incl. 287.00 289.00 2.00 12.30 12.30 7.3 0.13
P17-1366 Ben Subzone 295.60 348.00 52.40 5.17 1.59* 10.6 0.31
incl. 297.10 327.80 30.70 8.57 2.47* 15.8 0.41
incl. 297.10 298.3 1.20 190.5 34.29* 325.0 5.93
incl. 322.50 324.00 1.50 12.40 12.40 3.6 0.20

True widths are believed to be 70-90% of intersected widths in the Premier area. (*) samples cut to 1opt or 34.29 g/t Au.

This release is the fourth for the 2017 season reporting 35 holes P17-1331-1366 (Hole 1350 still pending). At present, seven Ascot owned drill rigs are operating on the property. To date 177 holes have been completed in 55,133 meters of drilling. Thirty-six drill holes are presently pending results and results will be released as they become available. Detailed results table, locations and figures can be viewed at the following Ascot link: www.ascotgold.com

Graeme Evans, P. Geo and Lawrence Tsang, P. Geo provide 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 the technical information in this news release.

Quality Assurance/Quality Control

Analytical work is being carried out by ALS Lab Group. Quality assurance and quality control programs include the use of analytical blanks and standards and duplicates in addition to the labs own internal quality assurance program. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. Identified or suspected metallic gold or silver are subjected to "metallics" assays. Also for extreme high gold grades a concentrate analysis is performed with a fire assay and gravimetric finish accurate up to 999985 ppm Au limit (ALS Au-CON01) method. Sampling and storage are at the company's secure facility in Stewart with bi-weekly sample shipments made to ALS Labs Terrace prep site.

On Behalf of the Board of Directors

ASCOT RESOURCES LTD.

John A. Toffan, President and Director

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

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. All statements, other than statements of historical fact, included herein, including, without limitation; statements regarding the exploration and mineralization potential of the Premier property, are forward-looking statements. 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. Important factors that could cause actual results to differ materially from Ascot's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Ascot does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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