Ascot Mining, Plc - In Administration

  • Ascot Mining has active gold mining and milling operations in Costa Rica where it has commenced production of gold from its wholly owned Chassoul concession. Ascot's immediate focus is to expand its gold production in Costa Rica. Additionally the Company has near term opportunities to extend its property interests in Costa Rica, Nicaragua and Columbia. These additional projects are being deffered until the Company achieves its targeted production at its Chassoul Project.
  • The following are excerpts from a recent Independent Geological Study which verifies the considerable merit of the Company's projects in Costa Rica:

  • "Mina Chassoul (Prospecto Corinto): The Mina Chassoul is located on the Miamar map sheet. The deposit was exploited in the past but its old stopes were reopened in 2008. The mine was developed on the Veta Cajeta and Veta Virgilio veins trending N–S to NE–SW. The veins are intensely affected by tectonics and filled with mylonite (Fig. 6). The average grade in the Cajeto vein corresponds to 9.67 g/t Au, locally exceeding 100 g/t Au. The average grade in the Virgilio vein corresponds to 7.34 g/t Au."
  • " Tres Hermanos Mine: This mine was developed on a namesake vein and also on the neighbouring Limón, Pedernal, Palo Negro, Nispero and Balsa veins. The Tres Hermanos vein was the major object of exploitation in the past. It is 3 m thick and runs 20–30° NNE, steeply dipping. In its northern part, it was exploited to a depth of 200 m, whereas its southern section was mined to a depth of 150 m. Data on historical production indicate the grade to have been around 16 g/t Au. The gold is rich in silver (electrum) accompanied by sphalerite, galena and stibnite."
  • " El Recio Mine: El Recio Mine (known also as Silencio) is located about 3 km N of the city of Juntas. It exploits sub-vertical veins of El Silencio (which splits southwards into the Guayacán and Santa Anna veins), El Recio and Villalobos running in general N–S. El Recio vein dips 80° to the west with a thickness of as much as 5 m. The grade is estimated to have ranged between 7.8 and 15.6 g/t Au. The veins were exploited by a system of levels, raises and winzes about 30 m apart down to a drainage tunnel, about 150 m below the surface."
  • Source: Epithermal gold mineralization in Costa Rica, Cordillera de Tilarán – exploration geochemistry and genesis of gold deposits Petr MIXA, Petr DOBEŠ, Vladimír ŽÁČEK, Petr LUKEŠ, Enrique M. QUINTANILLA:

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