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Tuesday, June 13, 2017 Derek Macpherson

Ascot Drilling Continues to Highlight Scale Potential

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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

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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

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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


Sunday, February 26, 2017 Derek Macpherson

RCKS Pre-PDAC Mining Showcase Presenter Preview

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On Friday March 3th, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Pre-PDAC Mining Showcase. The event features presentations from 21 companies, including a themed lunch presentation by leading corporations in the gold mining sector. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 21 presenting companies and 13 banner sponsors that will also be in attendance.  read more


Thursday, January 19, 2017 Derek Macpherson

Ascot Plans for Extensive 2017 Program at Premier

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Ascot Resources Ltd. (TSXV:AOT) has announced a 2017 exploration program at its Premier property located near Stewart, BC. The property hosts the past producing Premier Mine which historically produced 2.1 million oz Au and 44.9 million oz Ag. The company recently completed a successful 2016 exploration drill campaign, which delivered similar grades and mineralization as the Premier Pit area. Leveraging 2016’s success, Ascot has planned an extensive 2017 drill program consisting of both surface exploration and underground development aimed to further define existing targets (Figure 1) with the ultimate goal of defining an initial high-grade resource of 2-3 million oz Au. read more


Tuesday, October 04, 2016 Derek Macpherson

RCKS Fall Mining Showcase Presenter Preview

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On Thursday October 6th, Red Cloud Klondike Strike Inc. will be hosting its 4th Annual Fall Mining Showcase. The event, that will offer attendees the opportunity to meet with a number of companies, features presentations from 20 companies and a buy-side discussion panel comprised of three of the industry’s most influential fund managers. Visit the event page for more details on the day’s schedule. In this post we provide a brief preview on the 20 presenting companies and 8 banner sponsors that will also be in attendance.  read more


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