Swamp Point is located in the Portland Canal in north western British Columbia. Ascot Resources owns a 100% interest in the property subject to two royalties.
A 2006 NI-43-101 technical report shows there is a 66 million tonnes inferred resource grading 51% sand and 44% gravel on the property, and that the sand and gravel material meets or exceeds typical Canadian and American specification requirements.
Swamp Point is located on deep water, the Company owns the foreshore leases and is permitted for production through 2021.
The property could be made ready to produce within a short lead time. Ascot sees the proposed LNG projects in Northwestern BC as a likely stimulus to create new demand for sand and gravel products and believes Swamp Point is strategically located to take advantage of this opportunity.
In 2007 the property saw limited production, with onsite infrastructure and site preparation developed.