Ascot is a junior mining and exploration company which currently operates in Costa Rica. Ascot has implemented a growth strategy to fund aggressive exploration through expedited production from its currently operational mines. Expansion in milling capacity at its 100% owned Chassoul property will serve this goal and offer additional oportunities for Ascot in the near term.
27/02/13Ascot Mining takes legal action to trigger fund raise
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26/10/12Decision over hearing due soon, says Ascot Mining
15/10/12Ascot Mining: Mining to restart at Chassoul two weeks earlier than expected
No documents available.
No documents available.
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.
Costa Rica's Gold Belt:
The Costa Rican gold belt is located in the north-western part of the country.
The geology of this region is characterized by tectonically juxtaposed, volcanic sedimentary and igneous rock units of tertiary age.
Mineralization within the Gold Belt consists of:
1- Veins and fissure fillings of ephithermal type which bear gold, silver and base metal;
2- Disseminated mineralization of complex sulphides (Au, Ag, Pb, Zn);
3- Alluvial Au (gold) rich latheric soils.
Chassoul Mine & Mill
The property, Mina de Oro, is located near the city of San Ramon, some 76 km from San Jose along the Pan American Highway, and then approximately 22 km via a secondary road, the first 10 km of which are paved and in good condition. The access road to the mine is gravel and has been upgraded substantially. Other major cities in the immediate vicinity are Miramar and Puntarenas.
The company acquired outright ownership of the property on 19 November 2010 by paying US$6.3m. There is an ongoing royalty of 2%.
Previous mining and processing on this concession began in 1991 and lasted till 1995. According to available information, 11,916 metric tons of ore were mined to yield 42.6 kg of gold, using mercury. The recovery rate was 30% to 40%.
In 2001 a pilot plant was built to recover gold from tailings and unprocessed ore stockpiled on surface. During this time a systematic sampling program was initiated and resulted in a thorough geological and economic assessment of the mine. The report titled "Geology, Reserves and economic Feasibility" by Miguel Alan, Geologist, is a very good overview of the potential of the mine Mina Chassoul, a copy of which is available from the Company.
The Chassoul Mine and Mill is operational, and initial production has commenced.
It is believed that the Chassoul Mine and Mill concession holds considerable potential as only the Cajeta Vein is being exploited and eight additional veins are targeted for exploration and development.
An exploration program has been commenced with the opening of an adit to access two of the additional identified veins.
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David B. Jackson - Chief Executive Officer, Director
Mr. Jackson possesses over 35 years' experience with private and public corporations in marketing, senior management and corporate finance internationally.
Mr. Jackson has provided advisory services to a wide range of companies in Canada and abroad. He has founded and co-founded a number of private and publicly traded companies in the real estate, technology and resource sectors. Mr. Jackson has 5 years of experience as a senior officer and director of two gold and base metals exploration companies. He has extensive contacts in many countries.
Alex Panko - Director
Alex has over 25 years' experience delivering a wide range of debt, equity and related financing products, largely focused on the natural resources sector. As a senior Mining Finance professional, Alex either headed up or held senior positions in the Mining Finance teams of several leading global investment banks, and was directly responsible for numerous mining "deals of the year". He has visited more than 40 countries in the course of advising on, arranging, structuring and participating in some US$14 billion of finance for mining and resource companies.
Since leaving the banking sector, approximately 5 years ago, Alex has continued, in an independent capacity, to advise and help raise a variety of debt and equity products for resource companies. He also helped found three new companies, two of which focused on gold exploration and development in the Philippines and Australia respectively.
Jeffrey Benavides - Director & CFO, Ascot - Financial Director, Veritas Group
Mr. Benavides is a CA (license number 28620) resident in Costa Rica and manages all accounts payables, receivables, payroll, cost Controls, systems for purchasing and inventory controls.
His responsibilities include preparation of all management accounts for Ascot Mining, Veritas Mining, Veritas Gold and other subsidiaries as might be constituted. He is the liaison to Costa Rican tax authorities and the Company's auditors both in Costa Rica and the UK. He qualified in 2005 and prior to joining the Group he was an accounting supervisor for Sykes Enterprises Inc (symbol SYKE) a large services company of 2500+ employees based in Costa Rica. Mr. Benavides also holds a software engineering degree.
Andrew von Kursell - Director
Mr. von Kursell, P. Eng., is experienced in international mining industry with proven success in the initiation, negotiation, planning, and management of major projects.
Mr. von Kursell has extensive experience with regulatory agencies and in dealing with investors and financial institutions.
Milo Filgas - Director
Mr. Filgas is a mechanical engineer with lifelong worldwide experience in shaft sinking, mine development and operation.
He is owner and operator of R.F.Fry (Western) Ltd. a mine contracting company engaged in all aspects of mining.
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Information taken from Company website 12.02.2013
Ascot Mining Plc
36 Spital Square,
London, E1 6DY
Telephone +44(0)20 7377 2850
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