Ascot Resources Initiates Key Development Phase
Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF), a prominent Canadian mining company, has proudly reported the commencement of its first stage in the underground development of the Premier Northern Lights mine, also known as PNL. This exciting development marks a significant step forward for the company, indicating a robust plan for future mining activities.
Underground Operations Move Forward
The company has successfully remobilized its mining contractor, Procon Mining & Tunneling Ltd, to the site, facilitating crucial preparations for the underground mining operations. Among the critical maneuvers achieved so far, Ascot has:
- moved essential underground mining equipment to the site,
- set up fundamental underground ventilation systems,
- executed initial rehabilitation using shotcrete, which helps establish a heading for further development and create a second egress for the PNL mine.
Development Progress and Expectations
At present, the development is only about 115 meters away from the initial geological contact of the ore zone. Notably, the company is slightly ahead of its predicted timeline for these developments. Previously, Ascot had ramped up its development pace to approximately 6.4 meters per day for one heading, and they anticipate maintaining or improving this rate. By the end of January, they expect to expand operations to four headings. The initial underground stopes at PNL will be prepared for mining activities by the end of April next year.
Looking Ahead: Plans for Big Missouri Mine
In parallel, operations at the nearby Big Missouri mine are slated to resume in early May, following the successful completion of PNL’s development and the reinstatement of necessary infrastructure. Derek White, the President and CEO of Ascot, expressed great enthusiasm about the current developmental progress, stating, "We are thrilled to initiate our development activities ahead of schedule. This advancement allows us to progress significantly toward the Prew zone while establishing our secondary access point. In the coming months, we aim to accelerate our development efforts and achieve initial ore extraction from the PNL, ahead of our projected goals."
Technical Oversight and Company Insights
John Kiernan, P.Eng., the Chief Operating Officer of Ascot, is responsible for overseeing these technical developments. He holds the title of Qualified Person (QP), ensuring adherence to national standards and leading the company through these pivotal phases of operation. As a noteworthy contender in the mining sector, Ascot owns the Premier Gold mine, which recently began its production of gold, marking a vital milestone in the company’s history.
Contacting Ascot Resources for More Information
For further inquiries, stakeholders and interested parties are invited to reach out to Ascot Resources through their chief contact:
Derek White
info@ascotgold.com
778-725-1060 extension 1010
About Ascot Resources
Based in Vancouver, British Columbia, Ascot Resources Ltd. operates in a prolific mining region, focusing on developing its properties to optimize production and profitability. Its shares are traded on the Toronto Stock Exchange (TSX: AOT) and on the OTCQX under the ticker AOTVF, and it is recognized for its commitment to sustainable mining practices. The company has full ownership of the Premier Gold mine, situated on Nisga'a Nation Treaty Lands, a notable area within British Columbia's Golden Triangle.
Frequently Asked Questions
What is the current status of the Premier Northern Lights mine development?
The development is currently 115 meters from the initial ore zone and is progressing ahead of Ascot's planned timeline.
When is mining expected to start at the Big Missouri mine?
Mining at the Big Missouri mine is expected to resume in early May next year, following the completion of the Premier Northern Lights development.
Who is overseeing the technical aspects of the development?
John Kiernan, P.Eng., the Chief Operating Officer, is responsible for overseeing the technical developments at Ascot Resources.
What are Ascot Resources' trading symbols?
Ascot Resources is traded on the Toronto Stock Exchange under the ticker AOT and on the OTCQX under AOTVF.
How can I contact Ascot Resources for more information?
Interested parties can contact Derek White at derek white@ascotgold.com or call 778-725-1060 extension 1010 for further inquiries.
