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Ascendant Resources Inc.
Summary
| Project: | Lagoa Salgada | |
|---|---|---|
| Deposit: | Lagoa Salgada | |
| Location: | Portugal | |
| Commodities: | Copper-Zinc-Lead-Gold-Silver-Tin | |
| Date: | 2/13/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-2-2019: Ascendant Resources Inc. announces a Resource Estimation report for its Lagoa Salgada deposit at the Lagoa Salgada project. Upgraded mineral resource estimate at the project. TORONTO, Feb. 13, 2019 -- Ascendant Resources Inc. (TSX: ASND) (OTCQX | |
| Resources: | (Resource, M+I): 7.843Mt @ 0.47% Cu, 2.31% Zn, 2.15% Pb, 0.10% Sn, 51.7g/t Ag, 0.50g/t Au | |
| CP/QP: | [Resources]: Charlie Murahwi (Micon International Ltd.) | |
| ABSTRACT: | TORONTO, Feb. 13, 2019 -- Ascendant Resources Inc. (TSX: ASND) (OTCQX: ASDRF; FRA: 2D9) ("Ascendant" or the "Company”) is very pleased to announce the results of an updated National Instrument 43-101 Mineral Resource Estimate at the Lagoa Salgada polymetallic Volcanogenic Massive Sulphide (“VMS”) Project located on the Iberian Pyrite Belt (“IPB”) in Portugal. The new Mineral Resource Estimate demonstrates material growth in both the North Zone (Main Massive Sulphide) and the South Zone (Stockwork) deposits following a modest 7,077 metre drill program consisting of 20 drill holes. Both zones sit on an estimated geological strike length of 1.6km and have now been delineated by less than a total of 50 holes. Chris Buncic, President & CEO of Ascendant stated, “We are exceptionally pleased to deliver on our goal of significantly expanding and upgrading the Mineral Resource Estimate at Lagoa Salgada. The material increases in scale of the resources represent a significant milestone for Lagoa Salgada and validates our initial investment thesis that a modest drilling budget could provide outsize value and show the world class potential for Lagoa Salgada. Our 2018 exploration program was exceptionally well executed and significantly exceeded expectations by nearly doubling the tonnes in both deposits while concurrently improving the grade profile of the deposits.” He continued, “The success of our exploration work in 2018 demonstrates the overall growth potential and scalability of the Project, which the Company plans to expand with further exploration work this year. Given the deposits are located near surface with significant targets identified from the IP and gravimetric survey data, we are excited about future drilling and overall long-term development potential of the Project.” | |
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