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Ascendant Resources Inc.
Summary
| Project: | Lagoa Salgada | |
|---|---|---|
| Deposit: | Lagoa Salgada | |
| Location: | Portugal | |
| Commodities: | Copper-Zinc-Lead-Gold-Silver | |
| Date: | 10/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-10-2018: Ascendant Resources Inc. announces an Exploration/Drilling Update report for its Lagoa Salgada deposit at the Lagoa Salgada project. Drilling results incl. 131.1m @ 0.54% Cu, 2.72% Pb, 3.22% Zn, 0.81ppm Au, 77.86ppm Ag from 168.95m. TORONTO, O | |
| 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]: Tucker Barrie, Paul Daigle (Independent;AGP Mining Consultants Inc.) | |
| ABSTRACT: | TORONTO, Oct. 15, 2018 -- Ascendant Resources Inc. (TSX: ASND) (OTCQX: ASDRF; FRA: 2D9) ("Ascendant" or the "Company”) is very pleased to announce the results from the first drill hole, LS_MS_07, from its recently initiated 22 hole drill program at the high-grade Lagoa Salgada polymetallic volcanogenic massive sulphide Project (“Lagoa Salgada” ), located in the Iberian Pyrite Belt (“IPB”) in Portugal; home to some of the world’s largest VMS mines. Chris Buncic, President & CEO of Ascendant stated, “We are very encouraged by these initial results from our exploration program at Lagoa Salgada. While still early in the drill program, the results from this first hole support our view of the potential to rapidly expand the current known high-grade, massive sulphide mineralization that has been identified in previous drilling campaigns on the Project and provides confidence to quickly increase Mineral Resources. The new intersection at depth which was unexpected further increases the overall potential of the Project.” Drill Hole Details Drill hole LS_MS_07 was collared approximately 30 metres east of previous drill holes in the area targeting the eastern expansion of the known Main Zone massive sulphide mineralization contained within the current Mineral Resource as defined in the National Instrument 43-101 report dated January 5, 2018. The hole was drilled at an angle of 60° to provide more information of the true thickness and orientation of the ore zone. Gossan mineralization was intersected down hole at depth of 169 metres (vertical depth 146.3 metres), and the massive sulphide zone at a depth of 182 metres, approximately 30 metres earlier than anticipated based upon the previous interpretation of the ore body. The hole intersected two zones of massive sulphide. The first intersection of 71.75 metres from 182.15 metres to 253.90 metres grading on average 13.89% ZnEq, demonstrating the consistency of the mineralization in both ore body dimension and grades, and supporting the extension of the LS-1 Deposit to the east. | |
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