Freeport Indonesia to process 400,000t of copper concentrate at new smelter
Earlier this month, Freeport obtained an export permit for the rest of the year from the government.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 4, 2012) – Ascot Resources Ltd. (TSX VENTURE:AOT) is pleased to announce that the Bureau of Land Management (BLM) has released an Environmental Assessment (EA) related to Ascot’s two hardrock prospecting permit applications for geological exploration on the Mt Margaret property in the St Helens Mining District of Skamania of Washington State. The EA includes a draft Finding of No Significant Impact (FONSI). The public comment period for the EA will run until July 31, 2012. Based on the EA the U.S. Forest Service must determine whether or not to consent to a BLM decision to issue the prospecting permits. The completion of the EA is a significant step in Ascot’s planned exploration activities at Mt Margaret.
Ascot completed 11 drill holes on the Mt Margaret property in 2010, with positive results demonstrating strengthening mineralization at depths below and widths beyond historic drill results on the property. The current proposed program, for which the EA was prepared, calls for 63 drill holes from 23 drill pads, the results from which would go a long way towards determining if there is a significant mineral deposit at Mt Margaret with the potential to provide jobs and lasting economic benefits to the region.
ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.
John A. Toffan, President and Director
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release regarding anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Ascot Resources Ltd.
(604) 689-8950
(604) 684-9877 (FAX)
www.ascotresources.ca
