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Ascendant Resources Inc.
Summary
| Project: | El Mochito | |
|---|---|---|
| Deposit: | El Mochito | |
| Location: | Honduras | |
| Commodities: | Zinc-Lead-Silver-Copper | |
| Date: | 1/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-1-2018: Ascendant Resources Inc. announces an Exploration/Drilling Update report for its El Mochito deposit at the El Mochito project. Drilling results incl. 27.8m @ 27.4g/t Ag, 2.5% Pb, 7.6% Zn from 409.1m. TORONTO, Jan. 18, 2018 (GLOBE NEWSWIRE) -- | |
| Resources: | (historic estimates only) | |
| CP/QP: | [Overall Report]: Patrick E. Toth (Internal) | |
| ABSTRACT: | TORONTO, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (TSX:ASND) (OTCQX:ASDRF) (FRA:2D9) ("Ascendant" or the "Company”) announces the results from an additional 35 diamond drill holes totaling 5,945 meters (427 samples) as part of its 2017 underground exploration and resource definition drilling program at its El Mochito mine in Honduras. The Company has now received results for nearly all of its 2017 planned drilling program. These latest results comprise 3,627 meters of definition drilling and 2,318 meters of exploration drilling. The drilling was concentrated in five areas of the mine; Deep East, Port Royal, Santa Elena, Victoria and Esperanza (See Figure 1). Of the 35 holes reported, 30 intersected high-grade intercepts with 14 returning significant assay results. The results are summarized in the table below. Apart from the remarkable grades found in the Deep East area and good results achieved elsewhere, the new drilling indicates that the Esperanza orebody is also bigger and thicker than previously modeled. Given that mining is already underway on the south side of the Esperanza ore body, its implied increase in size likely points to increased quantities of high-grade mill feed ore becoming available for mining in the next two to six financial quarters. All ore bodies drilled apart from the Port Royal area are open and continue laterally and at depth. A new, larger 40,000-meter exploration and resource definition drilling program continues into 2018. A National Instrument 43-101 technical report is being prepared for release by the Company during the second quarter of 2018 which will incorporate all drilling to date. Management is optimistic that the expected increase in Mineral Resources and Reserves will significantly extend the life of the El Mochito mine. | |
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