RCKS talk

Monday, December 11, 2017 Derek Macpherson

Ascot Completes 2017 Drill Program; Plans for 2018

Download Report  

Ascot Resources Ltd. (TSXV:AOT) has completed the 2017 drill program at its Premier property, which totaled 118,800m (379 holes). The company reported the final set of results from 40 holes, targeting the Northern Lights area as well as reconnaissance drilling at Big Missouri-Martha Ellen areas, which requires additional exploration to determine potential continuity. Results were highlighted by 10.66 g/t Au over 4.70m (Northern Lights West zone – P17-1570), and 5.87 g/t Au over 17.4m (Ben Subzone – P17-1580). The company is finalizing its drill program for 2018, targeting infill drilling at Big Missouri, Northern Lights and Premier as well as other high priority targets. Final details of the program will be released along with an updated resource estimate expected in Q1 2018. Exploration results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine. This implies a current valuation of C$65-98/oz, a premium to peers at C$65/oz, which is likely warranted because of the high grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$44/oz). We expect the upcoming resource update (Q1 2018) along with drilling in 2018 to demonstrate the projects potential. read more


Thursday, November 23, 2017 Derek Macpherson

Ascot Releases Drill Results on New Subzones

Download Report

Ascot Resources Ltd. (TSXV:AOT) reported assay results from 32 holes drilled in the Northern Lights area with 40 holes still pending, which are expected to be released before year end. The company highlighted drill hole P17-1558 with 25.1m of 6.47 g/t Au in the Prew Subzone, drill hole P17-1536 with 6m of 14.9 g/t Au in the Ben Subzone and drill hole P17-1563 with 9.2m of 9.8 g/t Au in the Northern Lights West zone. Exploration results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine. This implies a current valuation of C$56-84/oz, a premium to peers at C$67/oz, which is likely warranted because of the high grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$39/oz). We expect additional results from the ongoing drill program to demonstrate the projects potential.  read more


Sunday, August 27, 2017 Derek Macpherson

Ascot’s Drilling Focuses on New Subzones

Download Report  

Ascot Resources Ltd. (TSXV:AOT) reported results from 33 holes completed to date from its 2017 exploration program underway at its Premier property in British Columbia. Drilling continues to target the recently discovered higher grade Ben subzone, which intersected 80.90 g/t Au over 2.2m within 17.03 g/t Au over 11m in hole P17-1378. In addition, a newly identified subzone located below the Ben subzone continues to be defined. Once initial results are completed, the company is planning to infill both subzones to define resources. Step out drilling is also underway on the property in the Premier Mine area north and west of Sebakwe, as well as areas that may connect Big Missouri and Martha Ellen including the west extensions of Martha Ellen. Results from 50 holes are pending, exploration results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine. This implies a current valuation of C$76-115/oz, a premium to peers at C$63/oz, which is likely warranted because of the high grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$52/oz). We expect additional results from the ongoing drill program to demonstrate the projects large-scale potential. read more


Sunday, July 30, 2017 Derek Macpherson

Ascot Defining New Subzone Below High-Grade Discovery

Download Report

Ascot Resources Ltd. (TSXV:AOT) released drill results from 35 holes of the 177 holes completed to date from its 2017 exploration program underway at its Premier property in British Columbia. The majority of results are from the recently discovered Ben subzone, intersecting 190.5 g/t Au over 1.2m (P17-1366) within a wider interval and 99.6 g/t over 1.0m within a wider interval (P17-1334). It also appears a new subzone south of the Ben subzone exists and is being defined. Previously in the area, the company intersected 1135.00 g/t Au over 0.50m within a wider interval (P17-1269). Results from 36 holes are pending, exploration results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine. This implies a current valuation of C$74-111/oz, a premium to peers at C$67/oz, which is likely warranted because of the high-grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$50/oz). We expect additional results from the ongoing drill program to demonstrate the projects large-scale potential, as zones continue to remain open in certain directions. To note, the company recently made the final option payments for both Premier and Dilworth and is funded to complete its planned drilling in 2017. read more


Monday, July 10, 2017 Derek Macpherson

Ascot Expands Northern Lights; Adds 7th Drill

Download Report  

Ascot Resources Ltd. (TSXV:AOT) released drill results from 40 holes of the 142 holes completed to date from its 2017 exploration program underway at its Premier property in British Columbia. Results were reported from the Northern Lights main zone and 602 zone. Drilling in the Northern Lights main zone uncovered a new high-grade subzone, the “Ben Zone”, in addition to extending the zone to a 600m strike length and a dip length of 700m. Highlights consist of hole P17-1313 which intersected 10.31 g/t Au over 11.9m and hole P17-1320 which included 15.79 g/t Au over 4.9m in a wider interval. Further, results from the 602 zone returned 4.81 g/t Au over 15.30m including 37.20 g/t Au over 1.0m (hole P17-1306), the furthest downdip hole in the zone. The company has added a seventh drill, and results from 36 holes are still pending. Results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine, which implies a current valuation of C$79-118/oz, a premium to peers at C$66/oz, this is likely warranted because of the high-grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$53/oz). We expect additional results from the ongoing drill program to demonstrate the projects large-scale potential, as zones continue to remain open in certain directions. To note, the company recently completed the final payment options for both Premier and Dilworth. read more


Tuesday, June 13, 2017 Derek Macpherson

Ascot Drilling Continues to Highlight Scale Potential

Download Report   

Ascot Resources Ltd. (TSXV:AOT) reported drill results from 22 holes of the 112 completed to date from its 2017 exploration program underway at its Premier property in British Columbia. Results from the Northern Lights Main zone returned 1135.00 g/t Au over 0.50m within a wider interval (Hole P17-1269) and 84.2 g/t Au over 1.50m within a wider interval (Hole P17-1271). Recent drilling has extended the zone 200m up-dip, which remains open in all directions as the company continues to test and expand the central area. In addition, results from the 602 zone were highlighted by 17.60 g/t Au over 2.00m within a wider interval (Hole P17-1278). The company noted, based on internal modelling it is reviewing the appropriate mining method for Premier, underground, open-pit or a combination of both. Results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine, which implies a current valuation of C$82-123/oz, a premium to peers at C$68/oz, this is likely warranted because of the high-grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$55/oz). Based on Ascot’s cash position at the end of 2016 (C$29.1 million), the company appears to be well-financed for its planned exploration and remaining option payment of C$6.85 million (due June 2017). We expect additional results from the ongoing drill program to demonstrate the projects large-scale potential. read more


Thursday, May 25, 2017 Derek Macpherson

Ascot Reports More Promising Results from Premier

Download Report

Ascot Resources Ltd. (TSXV:AOT) reported initial drill results from 44 holes of the 81 holes completed to date from its 2017 exploration program underway at its Premier property in British Columbia. In the 602 zone, hole P17-1273 returned 30.65 g/t Au over 6.05m from the down dip extension which has been unexplored. In the Northern Lights Main zone results included 66.1 g/t Au over 1.13m (P17-1242) within 10.4 g/t Au over 12.1m and 48.6 g/t Au over 1.00m (P17-1267) within 9.0 g/t Au over 7.5m. Results from the Northern Lights West Zone were highlighted by 4.05 g/t Au over 10.00 m (P17-1227), from an area which had been extended in 2016. Results continue to highlight the potential for a large high-grade underground resource at the past producing Premier mine, which implies a current valuation of C$85-130/oz, a premium to peers at C$73/oz, this is likely warranted because of the high-grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$58/oz). Based on Ascot’s cash position at the end of 2016 (C$29.1 million), the company appears to be well-financed for its planned exploration and remaining option payment of C$6.85 million (due June 2017). We believe Ascot is likely to continue the success demonstrated during the 2016 exploration program and that pending results from the 2017 drill program should support the company’s valuation. read more


Tuesday, March 14, 2017 Derek Macpherson

Ascot Starts Surface Drill Program

Download Report

Ascot Resources Ltd. (TSXV:AOT) announced it has commenced surface drilling as part of the 2017 exploration campaign planned at its Premier property in British Columbia. As we discussed in a previous post, the C$20 million program is expected to consist of both surface drilling and underground development. Initially, 120 km of surface drilling is targeted at establishing an initial high-grade resource of 2-3 million oz Au. Later this year, Ascot expects to drill an additional 20 km to explore grassroots targets at the north of the property, spending a total of C$13 million on surface drilling in 2017. At C$47/oz, Ascot currently trades at a discount to peers (C$58/oz). However, based on the high-grade resource goal and ignoring the existing low-grade resource, the company trades at between C$70-105/oz, a premium to peers. This valuation reflects the project’s likely high-grades, existing infrastructure and key shareholders. Based on Ascot’s cash position at the end of 2016 (C$29.1 million), the company appears to be well-financed for its planned exploration and remaining option payment of C$6.85 million (due June 2017). We believe Ascot is likely to continue the success demonstrated during the 2016 exploration program and that results from the 2017 drill program should support the company’s valuation. read more


SUBSCRIBE TO HEAR FROM US

Gain access to exclusive mining industry research reports as well as additional mining industry information, promotional materials, press releases and news.

RCKS Talk Daily Analysis
RCKS News
LATEST POST
CATEGORIES
RELATED TAGS
ARCHIVES

 

RISK WARNING:

Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.

 

By accessing this website you agree to be bound by our Terms of Use and Privacy Policy.

 

Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.

© Copyright 2017 Red Cloud Klondike Strike Inc. All rights reserved.