Toronto-listed Ascot Resources has begun mobilising personnel and equipment to advance the underground development of its Premier Northern Lights (PNL) mine in British Columbia.

Following the successful closure of financing on November 18, 2024, Ascot has started erecting the head cover for the PNL portal and is relocating equipment and personnel back to the site to recommence development work. The company’s mining contractor, Procon Mining & Tunneling, along with Ascot’s own team, has already begun the critical task of advancing the PNL portal toward the Prew ore zone, which is expected to become a significant source of ore for the company’s mill.

This follows a temporary pause in operations announced on September 6, when Ascot placed the project on temporary care and maintenance. At that time, the PNL access ramp had already advanced about 557 m from the portal, with an additional 112 m required to reach the first development headings into the Prew ore zone.

The initial activities at the site will focus on re-establishing the mine ventilation system, conducting minor underground rehabilitation, and reinstalling critical underground infrastructure at PNL. Once these preparations are complete, the company will begin advancing towards the Prew ore zone, with the goal of having both PNL and the Big Missouri mines ready to feed the mill when operations are set to restart early in the second quarter of next year.

“We are excited to restart the development of PNL and progress toward mining the Prew zone so that we can have two mines as ore sources for feeding the mill. The company has had a very difficult time since the announcement of the temporary care and maintenance, but that is behind us now and we are all focused on a successful restart and bringing Ascot back into production," said Ascot president and CEO Derek White.

The restart of the PNL mine is a critical component of Ascot's broader strategy to resume operations at its Premier gold project, which is expected to be a key driver of the company's growth in the coming years. The company remains committed to ramping up production, advancing its exploration activities, and bringing its mill back online in 2025, with both the PNL and Big Missouri mines playing key roles in achieving this goal.