Ascot Resources is a Canadian mineral development company publicly traded on the Toronto Stock Exchange. Our focus is to re-start the processing plant at the historic Premier gold mine, a mine once named North America’s largest gold mine. The site is located just 25 kilometres from the town of Stewart, in northwestern British Columbia in a proliﬁc area known as the Golden Triangle.
The Company filed its feasibility study in May 2020 for its 100% owned Premier and Red Mountain Gold Projects which would supply gold and silver ores to the process plant. The study supports robust economics including base case After-tax NPV5% of C$341 million and IRR 51% (based on US$1400/oz gold price, $17/oz silver price and CAD to US exchange rate of 0.76.) Ascot received the Mines Act Permit to re-start PGP in December 2021.
The Silver Coin, Big Missouri, and Premier deposits, collectively being named the Premier Gold Project (PGP) are located near the processing facility on the historical Premier Mine site, and the Red Mountain Project (RMP) is located 23 km to the southeast in an adjacent valley. The projects benefit from existing road access, historical underground mining infrastructure, a mill processing facility, the nearby Long Lake Hydro power plant, a tailings storage facility (TSF), a water treatment plant, and mine waste stockpile infrastructure resulting in a low initial capital refurbishment cost.
Mining will begin at the Big Missouri and Silver Coin deposits followed by Premier. Access for production at all the deposits will be through both new and existing side hill portal access using a combination of new ramp development and the refurbishment of existing underground infrastructure. Mining methods will largely consist of low-cost long-hole stoping with limited use of inclined undercut long-hole, and room and-pillar methods. Ore will be trucked to the processing facility, and mining waste will be used underground as a combination of rockfill and cemented rockfill. The plant will use conventional crushing, grinding, and gravity circuits followed by a standard carbon-in-leach (CIL) process to produce a gold doré.
In addition, the Company will continue to drill a number of gold-silver discoveries on its 25,000 hectares of mineral concessions that benefit from their proximity to Premier and the towns of Stewart, B.C and Hyder, Alaska.