Vancouver, B.C. September 8, 2021 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the Ball and SAG mills have been delivered to the Premier Gold Project (“PGP”) and are being prepared for installation inside the mill building. The Company is also pleased to provide an update on the significant progress made as a part of the PGP Early Works program.
EARLY WORKS PROGRAM HIGHLIGHTS
- Most Ball and SAG mill components, including the mill shells, have been delivered to site and are being prepared for installation.
- Construction camp installation and office refurbishment is well underway and is expected to house construction crews and other personnel in the coming weeks.
- Temporary power installed and activated to the mill, including interior and exterior lighting.
- Mill building and area cleanup largely completed.
- Testing and repairs of various tanks.
- Rebuilt, tested, and certified mill building overhead crane.
- Many site roads have been graded and bermed for construction and operations.
- New water treatment plant location finalized and land is currently being cleared.
Derek White, President and CEO, commented, “Ordering the Ball and SAG mills last year was a prudent decision, and we are very pleased that they have now been delivered in a timely manner – especially amid increasing competitive pressures in procurement of long lead time equipment in the mining industry. We continue to anticipate the issuance of our Joint Act Permit Amendment in the coming weeks. In advance of that milestone, we have progressed many pre-construction activities as a part of our Early Works program. Most importantly, crews have prepared the Ball and SAG mill foundations for installation of the shells and motors, and our temporary construction camp has been installed and will soon be ready to house the workforce required for project construction. We look forward to progressing into full-scale project construction in the near future and continue to anticipate initial production in the fourth quarter of 2022.”
SUMMARY OF PROGRESS TO DATE
Once snow levels subsided in late May, crews mobilized to begin the Early Works program at PGP. The overall goals of the program were to clean up and prepare the site for full-scale construction and the delivery of the Ball and SAG mills. The mill building was energized with a temporary 25kV power line, which enabled interior and exterior lighting and also the use of critical components such as the overhead crane.
The foundations for the Ball and SAG mills were prepared with concrete and grout works, as well as anchor bolt and sole plate installation. The Ball and SAG mill shells were recently delivered, and are now being assembled and prepared for installation. The Company expects delivery of remaining mill components such as the motors in the near term.
The construction camp is nearing completion, with 3 out of 4 dorm modules delivered and installed. Camp services such as electricity and water will enable operation of the kitchen, laundry, and other central services. The completed camp with a total capacity of 150 people is expected to be ready to house construction crews by the end of September.
Crews have also achieved much progress on the civil works improving the various roads including grading, widening and berming along the 8km haul road from the Premier mill building to Big Missouri. The new water treatment plant location was finalized and crews have recently been clearing the area to prepare for construction.
Figure 1 Ball mill shells delivered and brought into the mill building.
Figure 2 Ball mill cradle being installed.
Figure 3 Ball mill shell being lowered into the cradle.
Figure 4 SAG mill shell delivered.
Figure 5 SAG mill cradle being installed.
Figure 6 Construction camp progress, 3 out of 4 dorms installed.
Qualified Person
John Kiernan, P.Eng., Chief Operating Officer of the Company is the Company’s Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
On behalf of the Board of Directors of Ascot Resources Ltd.
“Derek C. White”
President & CEO
For further information contact:
David Stewart, P.Eng.
VP, Corporate Development & Shareholder Communications
dstewart@ascotgold.com
778-725-1060 ext. 1024
About Ascot Resources Ltd.
Ascot is a Canadian-based junior exploration and development company focused on re-starting the past-producing Premier gold mine, located in British Columbia’s prolific Golden Triangle. Ascot shares trade on the TSX. Concurrent with progressing the development of Premier, the Company continues to successfully explore its properties for additional high-grade underground resources. Ascot is committed to the safe and responsible development of Premier in partnership with Nisga’a Nation as outlined in the Benefits Agreement. For more information about the Company, please refer to the Company’s profile on SEDAR at www.sedar.com or visit the Company’s web site at www.ascotgold.com, or for a virtual tour visit www.vrify.com under Ascot Resources
