The Indian Ridge showing area is underlain by andesitic volcanics of the Lower Jurassic Hazelton Group, Unuk River Formation. The host rock of the Indian Ridge showing was not reported.

In 2019, 2 drill holes completed by Ascot Resources were reported to have intersected sulphide mineralization at the exact depth that the inversion of the geophysical data suggested. Mineralization is hosted by quartz breccia and stockwork with disseminated pyrite, galena and sphalerite with anomalous amounts of gold and silver.

A 0.59-metre drill hole intersection (P19-2042) graded 0.12 gram per tonne gold, 6.0 grams per tonne silver, 0.46 per cent zinc and 0.06 per cent lead; a 2 metre drill intersection from the same hole graded 0.18 grams per tonne gold, 5.0 grams per tonne silver, 0.10 per cent zinc and 0.03 per cent lead (Press Release, Ascot Resources Ltd., September 10, 2019). Drill hole P19-2050 intersected 1.29 metres grading 0.04 grams per tonne gold, 9.0 grams per tonne silver, 2.54 per cent zinc and 0.01 per cent lead (Press Release, Ascot Resources Ltd., September 10, 2019).

The mineralization is reported to be visibly indistinguishable from the ore zones at Premier and Big Missouri which also contain low grade zones with visible base metal mineralization but relatively low grades of precious metals. These low-grade zones can be immediately adjacent to high grade shoots.

WORK HISTORY

In September of 2019 Ascot Resources announced that an IP profile completed in 2019 stretches over 2000 metres southward from the Silver Coin resource. A news release dated September 10, 2019 (Figure 3) shows a chargeability section, depicting a strong IP anomaly in the center of the profile which were tested by two drill holes. The anomaly is located approximately 1500 metres south of the Silver Coin resource and 2300 metres northwest of the Premier mill. See 'Indian Ridge' (a new MINFILE occurrence) for further details.

See Silver Coin (104B 150) for further details.