Reviving the Northern Lights: Ascot Resumes Mine Development at Premier Location
Exciting News from Ascot Resources Ltd.
VANCOUVER, British Columbia, Dec. 04, 2024 (GLOBE NEWSWIRE) — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is thrilled to announce that the Company has begun the process of reviving the Premier Northern Lights mine (“PNL”). After closing a recent financing deal on November 18th, 2024, Ascot has wasted no time in mobilizing people and equipment to kickstart underground development at this premier location.
New Developments at Premier Northern Lights Mine
Procon Mining & Tunneling Ltd, Ascot Resources Ltd’s mining contractor, along with Ascot personnel, have already begun planning and mobilizing to advance the PNL portal to the Prew ore zone. This progress comes after the Company temporarily placed the operation on care and maintenance on September 6th, 2024. At that point, the main PNL access ramp had reached approximately 557 meters from the portal to the current face, with only 112 meters left to develop to reach the first development headings into the Prew ore zone.
The initial activities at the site include re-establishing mine ventilation, conducting minor underground rehabilitation, reinstalling underground infrastructure at PNL, and moving forward with the advance towards the Prew zone. The ultimate goal for Ascot is to complete enough development to have both the PNL and Big Missouri mines operational when the mill is scheduled to restart in early Q2 of 2025.
Implications for Investors
Investors in Ascot Resources Ltd. should be pleased with these recent developments as the company moves forward with the revival of the Premier Northern Lights mine. With careful planning and mobilization underway, there is great potential for success in the near future.
Impact on the World
The revival of the Premier Northern Lights mine has broader implications for the world as well. With the potential for increased production and economic growth, this development could positively impact the mining industry and global resource availability.
Conclusion
In conclusion, the decision by Ascot Resources Ltd. to resume mine development at the Premier Northern Lights location is a significant step forward for the company and the mining industry as a whole. With careful planning and execution, this project has the potential to bring about positive changes for investors and the global community alike.
