Name of the Project
Red Mountain underground gold project.

Location
The project is located about 18 km north-east of the District of Stewart, in the Nass Wildlife Area of British Columbia, in Canada.

Project Owner/s
Ascot Resources.

Project Description
The project proposes the construction of 147.2 ha underground gold and silver mine. The mine is expected to extract an estimated 1 000 t/d of ore, with a net production of 365 000 t/y, during the mine’s six-year operational life.

Envisaged is a year-round, high-grade underground gold/silver operation using bulk mining methods, primarily long-hole stoping.

Mineralised material will be trucked to a mill located within the adjacent Bitter Creek valley, producing gold/silver doré bars.

Tailings will be stored within a lined storage facility, with water treated prior to discharge.

Potential Job Creation
The project is expected to expected to create 103 direct full-time equivalent local jobs, with an additional 72 direct jobs generated in British Columbia.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
The project is expected to take 18 months to complete.

Latest Developments
Ascot is working on an updated feasibility study for Red Mountain, incorporating additional resources identified during 2017 and 2018, and evaluating proposed operating and development efficiencies, primarily related to underground bulk mining. The project is in receipt of provincial and federal environmental assessment certificates, and a benefits a agreement with the Nisga'a Nation.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Ascot Resources, tel +1 778 725 1060 or email info@ascotgold.com.