Tuesday 25th July 2017

Resource Clips


Posts tagged ‘Ascot Resources Ltd (AOT)’

Opinions vary by region when it comes to mineral exploration and mine development

April 20th, 2017

With a provincial election weeks away, Peter Caulfield asked sources in three British Columbia regions to comment on the importance of mining for the Association for Mineral Exploration’s quarterly magazine, Mineral Exploration. In general terms, the responses differ from views commonly heard in cities geographically removed but hardly independent of resource economies and the commodities they produce. In that respect, the relevance of Caulfield’s article applies far beyond B.C. The article is posted here with the permission of AME.

 

Opinions vary by region when it comes to mineral exploration and mine development

by Peter Caulfield

In a province that is as large and diverse as British Columbia, it’s natural that opinions on most topics—including mineral exploration and development—will be diverse too.

What the average person in Oak Bay or Yaletown thinks about a new mine or pipeline will be very different from what’s going through the head of somebody who lives in the northwestern corner of British Columbia or in the Kootenays in southeastern B.C.

As the province’s May 9 election approaches, Mineral Exploration wanted to know what’s on the mind of voters who live in the parts of the province that are most dependent on resource development. We talked to three well-connected observers of local politics in four provincial constituencies: Kamloops-North Thompson and Kamloops-South Thompson, Stikine and Kootenay East. We asked each of them what the hot-button issues are in their respective constituencies and whether mineral exploration and mine development is important to their fellow voters.

The following interviews have been condensed and edited for clarity.

 

Stikine

Maria Ryder, District of Stewart councillor for 2.5 years, chief of the volunteer fire department and 25-year Stewart resident

Opinions vary by region when it comes to mineral exploration and mine development

(Photo: Carl Ryan/AME)

The main projects in the Stewart region are Brucejack (Pretium Resources TSX:PVG), the Premier mine (Ascot Resources TSXV:AOT), Red Mountain (IDM Mining TSXV:IDM) and the Red Chris mine (Imperial Metals TSX:III).

Along with Terrace and Kitimat, Stewart is one of the largest communities in the district. We are growing in population, especially in the summer, when workers and their families descend on the town, drawn by mineral exploration and hydro projects and by Stewart’s two ports.

It’s very different here from urban British Columbia, and the people from down south who come up here to work find out just how different it is. And some of them discover how different some of our opinions and concerns are from theirs.

Because we get a lot of snow in the winter, much of the employment in Stewart is seasonal and the people who live here adjust their lives accordingly. Every year between March and November we’re busy, and between November and March things are pretty slow. But we’re used to it and we adjust.

The main election issue here is sustainable job creation through industrial development. We want jobs that stay and that provide stability to Stewart.

 

Kootenay East

Lois Halko, District of Sparwood second-term councillor and former mayor, born and raised in Sparwood

Opinions vary by region when it comes to mineral exploration and mine development

(Photo: Malcom Lennox/AME)

The main economic drivers of the region are the mining of metallurgical coal, which is B.C.’s single biggest export, and the activities of the local suppliers to the coal industry.

There are five Teck [Teck Resources TSX:TECK.A and TSX:TECK.B] metallurgical coal mines in the region: Coal Mountain, Elkview, Fording River, Greenhills and Line Creek. In addition, there are four mining companies that are interested in developing mines in the Elk Valley area: CanAus Coal, Centermount Coal, NWP Coal Canada and Riversdale Resources.

The five Teck mines have a total of 3,600 full-time employees, of whom 2,400 live in four communities in the Elk Valley area.

Because it is used to make steel, and because steel is such an essential product in everyone’s life, metallurgical coal should be recognized as a critical resource. It’s certainly critical to the people who live in Sparwood.

Teck has earned its social licence to continue mining here. The public has accepted the company’s efforts to mitigate any of the effects of coal mining, such as contaminants leaching into the water supply. Teck has done a lot of work to reduce the problem.

At the same time, we know that we need to diversify our economy. It’s something the local municipalities talk about a lot. The Sparwood regional economy is one of the least diversified in the province, which has made us very vulnerable to a cycle of boom and bust. The region has lots more to offer than just coal deposits, and we’re trying to leverage our mountains and natural beauty to build a thriving tourist industry.

 

Kamloops-North Thompson and Kamloops-South Thompson

Ryan Scorgie, president of the Kamloops Chamber of Commerce

The Kamloops Chamber of Commerce and its 850 members take a great deal of interest in all kinds of resource development, including mineral development in Kamloops-North Thompson and Kamloops-South Thompson.

The main mineral projects in the area are the Ajax project (KGHM International), the New Afton mine (New Gold TSX:NGD) and Highland Valley Copper (Teck).

Opinions about resource development are mixed in Kamloops. Most of the working people here are for it, but many of the academics at Thompson Rivers University are against, so the Chamber of Commerce hears both sides of the argument. Our position is that if a project goes through the appropriate review process and passes it, then we support it.

In fact, the Chamber thinks process is so important that our Policy Development Committee developed a policy regarding resource development in 2016 called Supporting Canada’s Responsible Resource Development.

The policy statement is more important than its brevity might indicate, because it was adopted provincially just a few months after it was written.

Opinions vary by region when it comes to mineral exploration and mine development

(Photo: Neil Leonard/AME)

The committee writes, in part: “The Chamber believes that it is critical that B.C. maintains its reputation as a jurisdiction open to investment. Achieving the investments needed to ensure Canada’s competitiveness will require an efficient regulatory review process that ensures continued health and environmental protection of Canadians while generating jobs, economic growth and prosperity.

“A streamlined process will encourage investment by providing businesses with a clear and predictable process to protect the environment while making the best use of limited government resources.

“Inefficient and unpredictable processes may turn away potential investors and prevent businesses from being able to make informed location and logistic decisions. For example, the World Economic Forum has cited inefficient government bureaucracy as one of the biggest impediments to improving Canada’s economic competitiveness.

“We need to make sure that the regulatory review process is efficient and has a clear scope, reasonable timelines and the flexibility to address unforeseen circumstances.”

Originally published in the spring 2017 edition of Mineral Exploration. Posted here with the permission of the Association for Mineral Exploration.

Ascot reports BC Assays including 2.53 g/t Gold, 14.7 g/t Silver over 89m

September 10th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAscot Resources Ltd TSXV:AOT announced drill results from the Martha Ellen Zone of its Premier Gold Project in the Cassiar Mining District of northwestern BC. Assays include

2.53 grams per tonne gold and 14.7 g/t silver over 89 metres
(including 22.68 g/t gold and 96.4 g/t silver over 8 metres)
0.86 g/t gold and 20.5 g/t silver over 127.39 metres
(including 1.8 g/t gold and 37.6 g/t silver over 38.39 metres)
0.75 g/t gold and 23.7 g/t silver over 137.87 metres
(including 1.26 g/t gold and 48.6 g/t silver over 59.57 metres)
0.98 g/t gold and 3.2 g/t silver over 82.95 metres
(including 3.37 g/t gold and 5.1 g/t silver over 13.72 metres)
0.55 g/t gold and 7.1 g/t silver over 81 metres
(including 1.94 g/t gold and 21.2 g/t silver over 12.6 metres)

Depths extend to 146 metres. Values are uncut. Estimated true widths are generally 10% to 20% less than reported widths. The company states that near-surface mineralization is being encountered consistently in gently west- and east-dipping zones associated with Premier porphyry dykes and a stockwork along the eastern portion of the zone. This area is believed to be the northwest fault offset extension of the Big Missouri Zone. The area has 144 historic drill holes. Current drilling is being done at a density that will allow for an initial resource estimate of this near-surface target.

View Company Profile

Contact:
Bob Evans
CFO/Director
604.684.8950

by Greg Klein

Ascot reports BC Results as high as 2.3 g/t Gold over 112.7m

September 9th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningAscot Resources Ltd TSXV:AOT announced results from its Premier Gold Mine in northwestern BC. Highlights include 2.3 g/t gold and 2.7 g/t silver over 112.7 metres, 3.74 g/t gold and 4.4 g/t silver over 62.6 metres, 1.38 g/t gold and 2.1 g/t silver over 156.5 metres, 1.94 g/t gold and 2.9 g/t silver over 92.5 metres, 1.44 g/t gold and 60 g/t silver over 62.4 metres and 0.84 g/t gold and 3 g/t silver over 112 metres.

The Premier Mine produced 2 million gold ounces and 42.8 million silver ounces before closing in 1996. Ascot has an option with Boliden Ltd to acquire the mine by paying $20,300,000 by October 1, 2012 and granting Boliden a 1% NSR.

View Company Profile

Contact:
Bob Evans
CFO/Director
604.684.8950

by Greg Klein