Ascendant Resources - Executive Chairman & Founder, Mark Brennan.
Executive Chairman & Founder, Mark Brennan.
Source: Ascendant Resources Inc.
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  • Ascendant Resources (ASND) has discovered a high-grade copper intercept at its Lagoa Salgada VMS Project in Portugal
  • One copper intercept found on the project supported the company’s ongoing delineation of a high-grade copper zone within the South Deposit
  • So far, Ascendant Resources has completed 27 drill holes over 12,804 metres
  • Results will be included in the resource update to support the feasibility study, which is expected to be completed by the end of April
  • Ascendant Resources (ASND) is up 2.00 per cent trading at $0.25 per share

Ascendant (ASND) has discovered a high-grade copper intercept at its Lagoa Salgada VMS Project in Portugal.

The company recently tested the Venda Nova South Zone on the project as part of the metallurgical, infill and extensional drilling campaign started last year. One copper intercept supported the company’s ongoing delineation of a high-grade copper zone within the South Deposit.

Mark Brennan, Executive Chairman and Founder of Ascendant Resources, commented,

“Not only do we expect strong conversion and upgrading of resources to support our ongoing feasibility study, but these results reinforce our strong view that the Venda Nova Deposit and the Lagoa Salgada Project as a whole will continue to grow the known resources and remains early in the discovery phase.”

So far, Ascendant has completed 27 drill holes over 12,804 metres as part of the overall drill program to support a feasibility study for Venda Nova. Results of the final step-out and infill drill holes in the South Zone will be included in the resource update to support the feasibility study, which is expected to be completed by the end of April.

“We are also encouraged by the confirmation that the South Zone also appears to hold copper dominated mineralization similar to what we are seeing at depth in the North Zone,” Brennan said.

Specifically, notable intercepts found in infill drill hole ST_27 confirmed the geometry of the high-grade copper footwall trend.

Additionally, infill drill hole ST_30 was drilled immediately north of a defined envelope that outlines the extent of the indicated portion of the resource in the South Zone’s current internal update. The addition of this hole will likely extend the boundary of indicated resources both along strike and down dip.

Ascendant Resources (ASND) is up 2.00 per cent trading at $0.25 per share as of 2:06 pm EST.


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