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Ascot Resources Reports Third Quarter 2022 Results
VANCOUVER, British Columbia, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce t
About this update from Cambria Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the Company’s unaudited financial results for the three months ended September 30, 2022 (“Q3 2022”), as well as a summary of recent development highlights at the Company’s Premier Gold Project (“PGP” or the “project”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. For details of the unaudited condensed interim consolidated financial statements and management's discussion and analysis for the three months ended September 30, 2022, please see the Company’s filings on SEDAR (www.sedar.com). All amounts herein are reported in $000s of Canadian dollars (“C$”) unless otherwise specified. Q3 2022 AND RECENT HIGHLIGHTS The Company continued to advance underground development during Q3 2022 and subsequent to the quarter end. To October 17, 2022, approximately 921 metres have been developed in all headings, including muck bays, sumps, ore access drift, and the main ramp. Ground conditions have been excellent and heading advance and productivity have been going well. Development accessed initial ore in the A Zone of the Big Missouri deposit in August and sampling protocol was developed for grade reconciliation to the block model. The surface infrastructure at the Big Missouri, S1 pit portal area was progressively prepared for winter snow conditions, which have commenced at the end of October. The restart of mining development is now planned for mid-2023 when the snow melts in Spring 2023. A 500-metre geotechnical hole was completed on the planned centreline of the new Premier Northern Lights (“PNL”) development area next to the mill. The core from this hole was moved down to Stewart where it was logged and analyzed by our Geotech consultant the week of November 1, 2022. The Company remains in discussions with potential capital providers with respect to the refinancing of the current debt facilities and has optimized the mine plan to improve the lateral development to ore tonnages in the early years of the mine life. On July 14, 2022, the Company announced the first batch of assay results from the 2022 exploration drill program at PGP. These results were from surface exploration drilling at the emerging Sebakwe Zone near the ...