Ascot Resources Ltd.

TSX VENTURE : AOT


Ascot Resources Ltd.

December 10, 2013 09:00 ET

Ascot Resources Intersects 28.26 Metres of 4.91 Grams Per Tonne Gold in Unicorn Zone at Premier

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 10, 2013) -

Highlights of Release:

  • Drilling continues to expand and confirm property potential for bulk tonnage and higher grade underground gold/silver targets.

  • This is the fifth and final release for the 2013 drilling campaign covering an additional 27 holes.

  • Drilling is now completed for the season.

Ascot Resources Ltd. (the "Company") (TSX VENTURE:AOT) 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. These properties, which cover more than one hundred square kilometres near the town of Stewart in northwest BC, include the old Premier Mine which was a past producer of 2.1 MOz Au and 44.9 MOz Ag. Results have now been received from ALS for all of the 145 holes drilled in 2013. The Company has now completed its 2013 season, drilling a total of 25,742 meters. Results from the 2013 drilling campaign continue to expand and confirm the property potential for both bulk tonnage and higher grade underground gold/silver targets.

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. This release covers results for the fifth set of 27 holes (P-13-551 to 578). The first 118 holes were released in the September 12th 2013, September 26th 2013, October 24th 2013 and November 13th news releases. 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-13-551 Unicorn 63.26 92.00 28.74 1.82 19.2
incl. 78.00 79.00 1.00 11.20 62.2
PR-13-559 Golden Crown 24.00 35.14 11.14 3.07 13.3
incl. 25.03 27.00 1.97 16.35 48.7
PR-13-561 Unicorn 72.00 152.00 80.00 2.67* 8.7
incl. 84.78 150.26 65.48 3.07* 9.9
incl. 122.00 150.26 28.26 4.91* 12.2
incl. 148.50 150.26 1.76 63.40 17.7
PR-13-562 S1 45.49 101.95 56.46 0.63 5.0
incl. 53.00 61.00 8.00 1.40 5.1
PR-13-564 S1 86.00 110.00 24.00 1.89 4.3
incl. 96.00 97.50 1.50 16.30 15.8
PR-13-567 S1 41.43 66.00 24.57 2.09 6.2
incl. 58.68 61.00 2.32 18.80 17.3
PR-13-571 S1 98.00 148.00 50.00 1.01 3.8
incl. 140.00 148.00 8.00 4.13 7.2

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 focused in the S1 zone and Unicorn zone which cover portions of the Big Missouri target, there was also limited testing of the Golden Crown and Dago zones. Drilling in the Unicorn and S1 has continued to encounter gold and silver mineralization in near surface mineralization.

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.

Contact Information

  • Ascot Resources Ltd.
    John A. Toffan
    President and Director
    (604) 379-1170
    (604) 684-9877 (FAX)
    www.ascotresources.ca