Ascot Resources Ltd.
TSX VENTURE : AOT

Ascot Resources Ltd.

September 26, 2013 08:30 ET

Ascot Resources Intersects 23.72 Meters of 5.09 Grams Per Tonne Gold at Martha Ellen

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 26, 2013) - Ascot Resources Ltd. (TSX VENTURE:AOT) -

Highlights of Release:

  • Drilling continues to expand and confirm property potential for bulk tonnage and higher grade underground gold/silver targets.
  • Results reported for second set of 26 holes of the 2013 drilling campaign.
  • Drilling will continue with three drill rigs until the end of the season.

Ascot Resources Ltd. (the "Company") is pleased to announce that wide zones of gold and silver mineralization continue to be encountered in all target areas of the Premier and Dilworth properties. Results have now been received from ALS for 52 of 72 holes drilled to date and approximately 13,000 metres of the planned 20,000 metres have been completed. The 2013 drilling campaign continues to expand and confirm the property potential for both bulk tonnage and higher grade underground gold/silver targets. The remainder of the holes have results pending and will be released at a later date. Drilling will continue for the balance of the season with three Ascot drill rigs.

Wide zones of gold and silver mineralization continue to be encountered in all of the target areas demonstrating bulk tonnage potential in a generally flat sheet like orientation containing higher grade quartz breccia bodies. The release covers results for the second set of 26 holes (P-13-459 to 485). The first 26 holes were released September 12th 2013 news release. Detailed results table, locations and figures can be viewed at the following Ascot link: www.ascotresources.ca

New highlights include:

Hole # Zone Comment From
m's
To
m's
Width
m's
Au
(g/t)
Ag
(g/t)
PR-13-462 Sparky 145.46 167.00 21.54 1.30 16.9
incl. 145.46 155.00 9.54 1.74 8.70
PR-13-463 Martha Ellen 115.00 138.00 23.00 1.28 10.3
incl. 119.37 128.80 9.43 2.09 17.0
PR-13-464 Sparky 187.38 219.00 32.62 1.80 14.1
incl. 194.00 196.00 2.00 17.85 13.1
PR-13-466 Martha Ellen 104.00 130.15 26.15 1.38 5.7
incl. 116.00 126.00 10.00 2.22 6.3
incl. 124.00 126.00 2.00 7.53 6.1
PR-13-468 Martha Ellen 94.00 117.72 23.72 5.09 14.5
incl. 105.00 110.00 5.00 19.05 44.6
incl. 105.00 106.97 1.97 38.80 32.8
PR-13-470 Martha Ellen 25.00 96.50 71.50 1.07 4.4
incl. 25.00 41.00 16.00 3.60 11.9
incl. 40.00 41.00 1.00 36.30 85.7
PR-13-472 Sparky 82.00 107.00 25.00 1.38 33.6
incl. 100.00 106.00 6.00 2.30 21.8
PR-13-473 Martha Ellen 18.00 62.50 44.50 1.10 5.7
incl. 27.00 38.00 11.00 3.38 13.7
incl. 36.50 38.00 1.50 6.86 12.2
PR-13-484 Martha Ellen 35.00 69.78 34.78 1.80 4.4
incl. 39.00 41.00 2.00 27.30 32.7
PR-13-485 Martha Ellen 69.00 111.00 42.00 1.43 18.2
incl. 87.00 96.13 9.13 3.60 56.7
True widths are generally believed to be 85-90% of intersected widths. * Assay values are not cut-see detailed table for cut values.

Drilling for the period of this release has been focussed in the Martha Ellen and Sparky areas using favorable summer weather to access these more remote areas. Drilling to date at Martha Ellen is demonstrating good continuity, particularly to the north in areas never historically drill tested. Results from this release indicate grades as good as or better than the historic tested area. Drilling in the Sparky area of Dilworth is testing modelling from the 2012 work which indicated N-S striking east dipping quartz breccia bodies and this approach has been successful to date.

As the season progresses the drills will be relocated into the Big Missouri area with lower elevations and better road access which will allow cost effective drilling into the fall season.

Graeme Evans, P. Geo and Lawrence Tsang, 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 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. 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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press 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; the completion of the Offering on the terms set forth herein, the anticipated closing date of the Offering and the use of proceeds from the Offering 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 the Company'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. The Company 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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