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Ascendant Resources Inc.
Summary
| Project: | Lagoa Salgada | |
|---|---|---|
| Deposit: | Lagoa Salgada | |
| Location: | Portugal | |
| Commodities: | Copper-Zinc-Lead-Gold-Silver | |
| Date: | 1/14/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-1-2019: Ascendant Resources Inc. announces an Exploration/Drilling Update report for its Lagoa Salgada deposit at the Lagoa Salgada project. Drilling results incl. 103.m @ 0.64% Cu, 1.94% Pb, 3.36% Zn, 0.57g/t Au, 60.1g/t Ag, 0.17% Sn from 177m. TORONT | |
| Resources: | (Resource, Inf.): 2.22Mt @ 1.91% Zn, 1.11% Pb, 0.51% Cu, 17.76g/t Ag, 0.07g/t Au | |
| CP/QP: | [Overall Report]: Robert Campbell (Internal) | |
| ABSTRACT: | TORONTO, Jan. 14, 2019 -- Ascendant Resources Inc. (TSX: ASND) (OTCQX: ASDRF; FRA: 2D9) ("Ascendant" or the "Company”) is very pleased to announce transformational results from its 20-hole drill program totaling 6,950 metres and an initial geophysics program at the Lagoa Salgada polymetallic VMS Project located on the Iberian Pyrite Belt (“IPB”) in Portugal; the IPB is home to some of the world’s largest volcanogenic massive sulphide mines. The drill program at Lagoa Salgada consisted of 12 holes (3,964 metres) in the Main Massive Sulphide Zone and 8 holes (3,113 metres) in the Stockwork Zone. The program has been very successful at confirming and expanding high-grade mineralization in the Main Massive Sulphide Zone and in expanding and improving the continuity of the sulphide mineralization in the Stockwork Zone. Results from the Main Massive Sulphide Zone indicate additional massive sulphide mineralization at grades in excess of 10% ZnEq. The identification of tin mineralization within the massive sulphides has contributed significantly to this grade improvement. In the Stockwork Zone results indicate that a thick, well mineralized ore zone has not yet been fully defined. Concurrent geophysical work has confirmed a strong 1.6 km long chargeability anomaly which includes the Main Massive Sulphide and Stockwork Zones. A Residual Bouguer Gravity anomaly coincides with the Chargeability anomaly, but the gravity map also identifies numerous additional anomalies within Lagoa Salgada’s property boundary. Chris Buncic, President & CEO of Ascendant stated “We are very pleased by the success of our latest exploration program at Lagoa Salgada. The drill results have more than exceeded our expectations in identifying similar high-grade massive sulphide and stockwork mineralization identified in previous drill campaigns at Lagoa Salgada. The addition of newly identified highgrade tin mineralization in the Main Zone provides further confidence in the potential to quickly increase high-grade tonnes to the known Mineral Resource. An update to the Mineral Resource Estimate is expected in January.” He continued, “In addition to the drill program the company has completed ground and downhole IP surveys. The results from these surveys have identified a 1.6 km IP anomaly coincident with the massive sulphide mineralization intersected by the drill program from the layered massive sulphides in the northwest (Massive Sulphide Zone) to the Stockwork Zone in the southeast. The IP anomaly is also coincident with a significant regional gravity anomaly which greatly expands exploration potential to the east.” | |
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