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Ascot ups gold resources at Premier-Dilworth project in British Columbia

Ascot Resources Ltd. on May 10 announced an updated resource estimate for its flagship Premier-Dilworth gold project in British Columbia, which incorporates high-grade zones from the Premier-Northern Lights area.

The project now hosts 2.7 million ounces of gold and 22.0 million ounces of silver, or 3.1 million ounces of gold equivalent, contained within 94.7 million tonnes grading 0.90 g/t of gold and 7.20 g/t of silver in the indicated category.

Inferred resources, meanwhile, total 1.8 million ounces of gold and 19.5 million ounces of silver, or 2.1 million ounces of gold equivalent, within 80.9 million tonnes at 0.70 g/t of gold and 7.56 g/t of silver. A cutoff of 0.3 g/t of gold equivalent was used in the estimate.

"This resource will be the first step in a series of resource developments, which we believe will add significant ounces with each resource update," President and CEO Derek White said.

The company is currently drilling in the Big Missouri area of the project as part of its next resource update.