Ascot announces high-grade gold results in the Northern Lights Area
Thursday, Nov 23, 2017
Ascot Resources Ltd (TSXV:AOT) (“Ascot” or the “Company”) is pleased to announce the next set of high-grade gold assay results from 32 holes in the Northern Lights area. The Company has 40 holes remaining pending assay results, which are expected to be completed between now and early December 2017.

Recent Drilling Highlights:

  • The new Prew Subzone continues to deliver exceptional results including hole P17-1558 which had an interval of 25.10 metres averaging 6.47 g/t Au, including two high-grade intervals of 1.00 metre each, grading 57.30 g/t Au and 43.50 g/t Au. The Prew Subzone (named in memory of Mr. Mike Prew) remains open along strike and has been traced for 500 metres down plunge, with a general width of 150-200 metres.
  • In the Ben Subzone hole P17-1536 returned 14.89 g/t Au over 6.0 metres which included 44.00 g/t Au over 2.00 metres. Hole P17-1552 returned 109.00 g/t Au over 1.00 m. This higher-grade area in the Ben Subzone has been traced down plunge for 700 metres, with a general width of 200 metres.
  • In the Northern Lights West zone, hole P17-1563 returned 9.76 g/t Au over 9.15 metres including 17.67 g/t Au over 4.15 metres. This northwest striking steep northeast dipping limb has been traced for 400+ metres of strike length with 150-200 metres of dip length.

As per details in a previous release, the Company has engaged David Rennie of Roscoe Postle Associates Inc. (“RPA”) as the qualified person to assist management in the development of the new resource estimate.  The new resource estimate will provide the basis for a PEA to explore mining opportunities utilizing the existing mine and plant infrastructure.

Two long tenured executive directors, John Toffan and Rick Kasum have recently resigned from the Board. As the former President and CEO of Ascot, Mr. Toffan was instrumental in advancing the Company to where it is today.

Mr. White, President & CEO, commented, “John led the Company since its inception and we thank him most heartily for his leadership and faithful service over this period.  Rick, based in Stewart, B.C. and a veteran of the Golden Triangle area, has been a key contributor in helping the Company with its extensive drilling program and activities in the local community. Rick will continue to assist the Company as a consultant, working with Ascot on its future drilling programs.  On behalf of everyone at Ascot we thank them both for their tremendous longstanding efforts, especially with the extensive drill program.  We wish them both success in their future endeavours.”

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