07:51 AM EDT, 07/03/2024 (MT Newswires) -- Ascot Resources ( AOTVF ) reported Wednesday production results in the second quarter as it continues to advance the Premier gold mine in British Columbia.

During the quarter, Ascot processed 85,436 dry tonnes of mostly development ore in the commissioning of the mill, containing an estimated total of 5,713 ounces of gold.

Ascot said it poured 839 ounces of gold and 1,288 ounces of silver, while an estimated 3,178 ounces of gold-in-process remains in the mill circuit.

The company continued commissioning the mill and water treatment plant during the quarter. It also established the secondary underground egress at the Big Missouri deposit to commence production in its planned stoping areas.

Ascot noted that it has addressed many commissioning challenges in the mill.

"Ascot progressed through many important milestones in the second quarter, including the start of processing commissioning ore in the mill, the first gold pour from the gravity circuit, and subsequent pours from the carbon-in-leach circuit as a part of the commissioning process," CEO Derek White said.

Commercial production at Premier is expected to start during the second half.

Ascot's share price dropped 8.9% yesterday to $0.51 on the TSX.