Ascot Resources is pleased to announce that favourable weather conditions enabled it to get an early start to the 50,000 metre drill program planned for 2016, at its Premier gold property near Stewart, British Columbia. The first drill started April 6th and a second drill was added April 15th. Two to three more drills will be added as the season progresses.
The bulk of the work will be concentrated in the old Premier Mine area and will consist of 42,200 metres of drilling in 149 holes from 34 pads. The layout of the drill plan, based on twenty-five metre centres, together with the re-assaying of the Westmin rejects from its 1996 drill program (see news release March 8th 2016) will enable the Company to commission a maiden NI 43-101 resource on this area after the completion of the 2016 field season.
This area represents approximately 7.5% of the Premier system and is not necessarily the most prospective area within the Premier target. It is, however, the area where the most information is available and is the logical area to start building a resource. Ascot will use a portion of its 2016 drill budget to explore the potential of one of the other prospective areas, Northern Lights.
On Behalf of the Board of Directors
ASCOT RESOURCES LTD.
Per: John A. Toffan
John A. Toffan, President and Director
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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.