Exploration / Development > Resource-definition

Northern Lights sparkle for Ascot

Well-funded explorer Ascot Resources (CN:AOT) has announced further high-grade assays from drilling at Northern Lights at its Premier project, which will add to a new resource estimate.

Staff reporter

Exploration / Development > Resource-definition

Northern Lights sparkle for Ascot

Well-funded explorer Ascot Resources (CN:AOT) has announced further high-grade assays from drilling at Northern Lights at its Premier project, which will add to a new resource estimate.

Staff reporter

Northern Lights sparkle for Ascot

Ascot intersects 25.1m averaging 6.47g/t gold; and 1m at 109g/t

Among the highlights, Ascot intersected 25.1m averaging 6.47g/t gold from 272.65m in the Prew subzone, including two higher-grade 1m intervals grading 43.5g/t and 57.3g/t.

A 1m highlight from the Ben subzone returned 109g/t gold and the results follow a series of high-grade intercepts.

The upcoming resource estimate will be the basis for a preliminary economic assessment on mining opportunities using the existing mine and plant infrastructure on the Premier property in British Columbia.

Golden Triangle veteran Rick Kasum will continue to assist the company as a consultant after resigning from the board along with long-serving executive director John Toffan.

The company had just over C$19 million (US$14.9 million) in working capital at the end of September.

Ascot shares rose 2.27% to C$1.35, towards the lower end of its 52-week range of $1.32-$2.10.

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