Ascendant Resources Inc. (TSX: ASND) (OTCQX:
ASDRF; FRA: 2D9) ("Ascendant" or the "Company”) is pleased to
announce results from an additional 24 diamond drill holes (4,254
metres) from its 2018 exploration and definition drilling program
at its El Mochito mine in Honduras. The drilling was split between
in-fill (48%) and step-out (52%) drill holes, and targeted
extensions of four ore bodies, namely Porvenir, Santa Elena, Port
Royal Manto and Esperanza (See Figure 1 and Tables 1 & 2
below). These results continue to support the Company’s goal of
identifying higher-grade ore for immediate production and
increasing tonnage for further Mineral Reserve and Resource growth
at El Mochito.
Key highlights (true/apparent widths1)
include:
Infill Drilling
- DDH 10996 – 7.1m at 14.0% ZnEq, 7.4% Zn, 6.2%
Pb and 86.5 g/t Ag (Esperanza)
- DDH 10998 – 13.7m at 10.7% ZnEq, 5.7% Zn, 4.6%
Pb and 72.0 g/t Ag (Esperanza)
- DDH 10999 – 4.8m at 16.4% ZnEq, 8.2% Zn, 6.6%
Pb and 166.5 g/t Ag (Esperanza)
- DDH 11017 – 16.1m at 9.9% ZnEq, 9.4% Zn, 0.1%
Pb and 25.9 g/t Ag (Port Royal Manto)
Step-out Drilling
- DDH 10994 – 2.6m at 9.5% ZnEq1, 6.0% Zn, 3.4%
Pb and 35.2 g/t Ag (Porvenir)
- DDH 10987 – 7.0m at 6.1% ZnEq, 3.4% Zn, 2.6%
Pb and 30 g/t Ag (Porvenir)
- DDH 10973 – 2.7m at 7.3% ZnEq, 4.1% Zn, 3.1%
Pb and 38.3 g/t Ag (Santa Elena)
Infill drilling at the Esperanza Orebody
continues to deliver high-grade results demonstrating its ability
to continue to contribute significantly towards 2018 production as
well as for the foreseeable future. The Santa Elena Orebody forms
part of the El Mochito production plan in 2019 and beyond with
step-out drilling continuing to indicate an eastern extension of
the orebody. The newly defined Porvenir Orebody, forms part of the
Inferred Mineral Resource, and current drilling aids further in its
definition and delineation. These orebodies remain open along
strike and at depth.
1 Please refer to tables for true/apparent
widths which are estimated from actual drilled lengths.
In May 2018, the Company published an update of
its Mineral Reserves and Resources Estimate showing a significant
increase, providing for a Mineral Reserve mine life of more than
seven years, confirming the long-term conversion of Resources into
Reserves and the continued growth achieved at El Mochito over the
mines 70-year history. Given El Mochito’s substantial Reserve base,
and in light of the short-term price weakness in the commodities
markets, the Company has decided to defer significant underground
exploration drilling at El Mochito as part of its overall cost
management program. Of the 23,930 metres completed to date, 57%
constitutes step-out drilling and 43% infill drilling. The Company
will continue with infill drilling and expects to complete total
drilling of approximately 30,000 metres for the year. Assay results
from 7,661 metres of previous drilling are expected in the fourth
quarter.
Chris Buncic, President and CEO of Ascendant
commented: “We are pleased with these results as they provide new
high-grade mineralization at grades higher than current mining
grades and the existing Reserve and Resource grades. There
continues to be significant opportunity for Reserve and Resource
conversion and growth through exploration to fulfill our long-term
goal of increasing head grades to the mill and increase the value
per tonne mined.” He continued, “Despite a minor adjustment to our
2018 exploration program, management believes the work to date
should be more than sufficient for continued conversion and
expansion of El Mochito’s Reserves and Resources and we look
forward to resuming exploration activities as commodity market
pricing improves.”
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/14a9c98c-a456-4f7e-bb79-c628f26a7b74
Table 1: Significant Assays
Drill Hole Category |
DDH No. |
From (m) |
To (m) |
Length (m) |
True / Apparent Width (m)* |
Ag (g/t) |
Pb (%) |
Zn (%) |
ZnEq (%)** |
Area |
Infill |
10991 |
57.9 |
65.3 |
7.5 |
7.2 |
109.0 |
5.8 |
6.2 |
12.9 |
Esperanza |
including |
57.9 |
59.3 |
1.5 |
1.4 |
58.0 |
4.0 |
3.5 |
7.8 |
including |
59.3 |
64.0 |
4.7 |
4.5 |
136.1 |
7.6 |
8.4 |
16.9 |
including |
64.0 |
65.3 |
1.3 |
1.3 |
70.0 |
1.9 |
1.6 |
4.3 |
Infill |
10993 |
82.4 |
84.9 |
2.5 |
2.0 |
137.3 |
8.8 |
6.9 |
16.4 |
Esperanza |
including |
82.4 |
83.7 |
1.2 |
1.0 |
235.0 |
15.7 |
11.5 |
28.3 |
including |
83.7 |
84.9 |
1.2 |
1.0 |
42.0 |
2.1 |
2.5 |
4.8 |
Infill |
10996 |
63.1 |
71.8 |
8.7 |
7.1 |
86.5 |
6.2 |
7.4 |
14.0 |
Esperanza |
including |
63.1 |
65.5 |
2.4 |
2.0 |
137.5 |
7.7 |
9.2 |
17.8 |
including |
65.5 |
71.8 |
6.2 |
5.1 |
66.6 |
5.7 |
6.7 |
12.5 |
Infill |
10998 |
69.5 |
89.3 |
19.8 |
13.7 |
72.0 |
4.6 |
5.7 |
10.7 |
Esperanza |
including |
69.5 |
77.9 |
8.4 |
5.8 |
38.5 |
2.2 |
3.8 |
6.2 |
including |
77.9 |
78.2 |
0.3 |
0.2 |
1.0 |
0.0 |
0.0 |
0.0 |
including |
78.2 |
80.2 |
2.0 |
1.4 |
64.0 |
3.4 |
7.0 |
10.8 |
including |
80.2 |
82.0 |
1.8 |
1.3 |
172.0 |
13.6 |
14.2 |
28.3 |
including |
82.0 |
89.3 |
7.3 |
5.1 |
90.2 |
5.6 |
5.8 |
11.9 |
Infill |
10999 |
55.8 |
60.7 |
5.0 |
4.8 |
166.5 |
6.6 |
8.2 |
16.4 |
Esperanza |
including |
55.8 |
57.6 |
1.8 |
1.8 |
301.0 |
9.5 |
12.2 |
25.0 |
including |
57.6 |
59.4 |
1.8 |
1.8 |
107.0 |
5.5 |
7.0 |
13.3 |
including |
59.4 |
60.7 |
1.3 |
1.3 |
62.0 |
4.1 |
4.3 |
8.7 |
Infill |
11002 |
77.3 |
78.8 |
1.5 |
0.9 |
59.0 |
4.5 |
4.8 |
9.5 |
Esperanza |
and |
107.4 |
108.8 |
1.4 |
0.9 |
74.0 |
3.2 |
3.6 |
7.4 |
Infill |
11005 |
53.0 |
57.0 |
4.0 |
3.7 |
75.9 |
5.7 |
7.1 |
13.0 |
Esperanza |
Infill |
11010 |
14.4 |
16.6 |
2.2 |
2.0 |
57.0 |
0.8 |
3.5 |
5.1 |
Esperanza |
and |
67.2 |
70.1 |
2.9 |
2.7 |
78.2 |
4.8 |
5.8 |
11.1 |
including |
67.2 |
68.6 |
1.3 |
1.3 |
92.0 |
5.7 |
6.9 |
13.1 |
including |
68.6 |
70.1 |
1.5 |
1.4 |
66.0 |
4.1 |
4.9 |
9.3 |
and |
75.6 |
80.3 |
4.7 |
4.5 |
55.8 |
2.5 |
4.5 |
7.4 |
including |
75.6 |
77.6 |
2.0 |
1.9 |
58.0 |
4.9 |
5.1 |
10.1 |
including |
77.6 |
79.2 |
1.6 |
1.6 |
38.0 |
0.6 |
3.3 |
4.5 |
including |
79.2 |
80.3 |
1.0 |
1.0 |
80.0 |
0.8 |
5.1 |
7.0 |
and |
107.9 |
109.7 |
1.8 |
1.6 |
129.0 |
0.1 |
3.0 |
5.1 |
and |
114.3 |
115.5 |
1.2 |
1.1 |
30.0 |
0.6 |
3.9 |
4.9 |
and |
117.0 |
121.9 |
4.9 |
4.6 |
34.3 |
1.7 |
5.5 |
7.5 |
including |
117.0 |
118.7 |
1.7 |
1.6 |
16.0 |
0.5 |
3.9 |
4.5 |
including |
118.7 |
120.4 |
1.7 |
1.6 |
61.0 |
4.4 |
8.4 |
13.1 |
including |
120.4 |
121.9 |
1.5 |
1.4 |
25.0 |
0.2 |
3.9 |
4.5 |
Infill |
11015 |
13.5 |
25.3 |
11.8 |
9.2 |
74.2 |
5.1 |
5.8 |
11.3 |
Esperanza |
including |
13.5 |
15.2 |
1.7 |
1.4 |
116.0 |
7.0 |
7.8 |
15.5 |
including |
15.2 |
18.3 |
3.0 |
2.4 |
130.5 |
8.1 |
10.0 |
18.8 |
including |
18.3 |
20.1 |
1.8 |
1.4 |
62.0 |
5.3 |
5.8 |
11.2 |
including |
20.1 |
21.9 |
1.8 |
1.4 |
31.0 |
2.9 |
3.1 |
5.9 |
including |
21.9 |
23.1 |
1.2 |
0.9 |
1.0 |
0.2 |
0.2 |
0.3 |
including |
23.1 |
25.3 |
2.2 |
1.7 |
47.8 |
3.7 |
3.8 |
7.7 |
and |
55.2 |
62.5 |
7.3 |
4.9 |
64.1 |
0.6 |
4.2 |
5.7 |
including |
55.2 |
56.4 |
1.2 |
0.8 |
32.0 |
1.5 |
4.4 |
6.1 |
including |
56.4 |
57.9 |
1.5 |
1.0 |
7.0 |
0.0 |
2.7 |
2.8 |
including |
57.9 |
62.5 |
4.6 |
3.1 |
91.3 |
0.6 |
4.7 |
6.6 |
and |
68.0 |
71.3 |
3.4 |
2.3 |
28.0 |
0.0 |
4.3 |
4.8 |
including |
68.0 |
69.6 |
1.7 |
1.2 |
44.0 |
0.0 |
3.2 |
3.9 |
including |
69.6 |
71.3 |
1.7 |
1.2 |
12.0 |
0.0 |
5.4 |
5.6 |
Infill |
10986 |
143.3 |
146.0 |
2.7 |
1.5 |
340.3 |
1.7 |
2.4 |
9.1 |
Port Royal Manto |
including |
143.3 |
144.8 |
1.5 |
0.8 |
111.0 |
1.0 |
4.3 |
6.8 |
including |
144.8 |
146.0 |
1.2 |
0.7 |
627.0 |
2.5 |
0.0 |
12.0 |
and |
168.9 |
173.4 |
4.6 |
2.5 |
96.2 |
1.2 |
1.7 |
4.2 |
including |
168.9 |
170.7 |
1.8 |
1.0 |
170.0 |
1.5 |
1.3 |
5.2 |
including |
170.7 |
173.4 |
2.7 |
1.5 |
47.0 |
1.0 |
1.9 |
3.5 |
Infill |
10990 |
158.5 |
171.0 |
12.5 |
6.2 |
41.8 |
2.9 |
4.1 |
7.2 |
Port Royal Manto |
including |
158.5 |
161.5 |
3.0 |
1.5 |
85.0 |
5.3 |
7.3 |
13.1 |
including |
161.5 |
163.1 |
1.5 |
0.8 |
38.0 |
3.6 |
5.5 |
9.1 |
including |
163.1 |
166.0 |
2.9 |
1.4 |
70.7 |
5.2 |
7.0 |
12.4 |
including |
166.0 |
167.0 |
1.1 |
0.5 |
4.0 |
0.1 |
0.2 |
0.3 |
including |
167.0 |
171.0 |
4.0 |
2.0 |
109.1 |
0.9 |
3.5 |
5.9 |
Infill |
10992 |
No Significant Intercepts |
Port Royal Manto |
Infill |
11000 |
101.1 |
107.3 |
6.2 |
2.7 |
102.6 |
4.5 |
5.7 |
11.1 |
Port Royal Manto |
including |
101.1 |
104.4 |
3.3 |
1.4 |
156.3 |
6.0 |
8.0 |
15.5 |
including |
104.4 |
105.2 |
0.9 |
0.4 |
29.0 |
1.9 |
1.9 |
3.9 |
including |
105.2 |
107.3 |
2.0 |
0.9 |
48.0 |
3.2 |
3.7 |
7.2 |
and |
125.0 |
131.1 |
6.1 |
3.4 |
51.3 |
0.7 |
8.5 |
10.0 |
including |
125.0 |
128.0 |
3.0 |
1.7 |
58.5 |
1.0 |
9.5 |
11.3 |
including |
128.0 |
131.1 |
3.0 |
1.7 |
44.0 |
0.5 |
7.5 |
8.6 |
Infill |
10997 |
124.4 |
126.0 |
1.7 |
0.9 |
49.0 |
3.1 |
4.3 |
7.7 |
Port Royal Manto |
and |
140.5 |
142.2 |
1.7 |
1.0 |
34.0 |
2.3 |
4.4 |
6.8 |
Infill |
11012 |
86.9 |
88.4 |
1.5 |
0.6 |
64.0 |
4.6 |
7.2 |
12.1 |
Port Royal Manto |
and |
91.4 |
93.0 |
1.5 |
1.0 |
46.0 |
0.1 |
9.6 |
10.4 |
Infill |
11014 |
No Significant Intercepts |
Port Royal Manto |
Infill |
11020 |
No Significant Intercepts |
Port Royal Manto |
Infill |
11017 |
40.8 |
41.7 |
0.9 |
0.8 |
217.0 |
5.2 |
9.9 |
17.7 |
Port Royal Manto |
and |
44.2 |
64.9 |
20.7 |
16.1 |
25.9 |
0.1 |
9.4 |
9.9 |
including |
44.2 |
47.9 |
3.7 |
2.8 |
43.0 |
0.4 |
11.8 |
12.9 |
including |
47.9 |
48.8 |
0.9 |
0.7 |
9.0 |
0.2 |
3.0 |
3.3 |
including |
48.8 |
50.0 |
1.2 |
0.9 |
48.0 |
0.1 |
13.5 |
14.3 |
including |
50.0 |
53.3 |
3.4 |
2.6 |
14.1 |
0.1 |
5.8 |
6.1 |
including |
53.3 |
55.0 |
1.7 |
1.3 |
33.0 |
0.1 |
15.3 |
15.9 |
including |
55.0 |
56.7 |
1.7 |
1.3 |
1.0 |
0.0 |
0.5 |
0.5 |
including |
56.7 |
58.2 |
1.5 |
1.2 |
12.0 |
0.0 |
6.1 |
6.4 |
including |
58.2 |
60.0 |
1.8 |
1.4 |
55.0 |
0.1 |
12.6 |
13.5 |
including |
60.0 |
62.5 |
2.4 |
1.9 |
20.1 |
0.0 |
7.8 |
8.1 |
including |
62.5 |
64.9 |
2.4 |
1.9 |
17.0 |
0.0 |
14.4 |
14.7 |
Step Out |
10994 |
35.2 |
38.3 |
3.0 |
2.9 |
22.2 |
2.1 |
3.0 |
5.1 |
Porvenir |
including |
35.2 |
36.6 |
1.4 |
1.3 |
20.0 |
1.5 |
1.9 |
3.5 |
including |
36.6 |
38.3 |
1.7 |
1.6 |
24.0 |
2.6 |
3.8 |
6.4 |
and |
43.9 |
46.5 |
2.7 |
2.6 |
35.2 |
3.4 |
6.0 |
9.5 |
including |
43.9 |
45.1 |
1.2 |
1.2 |
26.0 |
2.7 |
3.7 |
6.3 |
including |
45.1 |
46.5 |
1.4 |
1.4 |
43.0 |
4.1 |
8.0 |
12.1 |
and |
273.1 |
283.5 |
10.4 |
7.9 |
17.5 |
0.3 |
4.4 |
4.9 |
including |
273.1 |
276.0 |
2.9 |
2.2 |
22.1 |
0.8 |
4.3 |
5.3 |
including |
276.0 |
278.9 |
2.9 |
2.2 |
6.4 |
0.1 |
2.8 |
3.0 |
including |
278.9 |
283.5 |
4.6 |
3.5 |
21.7 |
0.2 |
5.4 |
5.9 |
and |
292.9 |
294.9 |
2.0 |
1.5 |
96.0 |
2.1 |
3.9 |
7.1 |
and |
296.9 |
298.7 |
1.8 |
1.5 |
27.0 |
4.0 |
5.0 |
8.8 |
and |
300.2 |
301.8 |
1.5 |
1.2 |
6.0 |
0.0 |
7.4 |
7.5 |
and |
305.7 |
307.1 |
1.4 |
1.1 |
7.0 |
0.1 |
3.9 |
4.1 |
Step Out |
10987 |
22.1 |
24.4 |
2.3 |
2.3 |
36.0 |
3.4 |
3.6 |
7.0 |
Porvenir |
and |
33.5 |
40.7 |
7.2 |
7.0 |
30.0 |
2.6 |
3.4 |
6.1 |
including |
33.5 |
38.1 |
4.6 |
4.5 |
33.7 |
2.9 |
3.5 |
6.5 |
including |
38.1 |
39.6 |
1.5 |
1.5 |
17.0 |
1.6 |
2.4 |
4.0 |
including |
39.6 |
40.7 |
1.1 |
1.1 |
33.0 |
3.0 |
4.1 |
7.1 |
and |
253.0 |
254.4 |
1.4 |
1.2 |
10.0 |
0.6 |
4.7 |
5.4 |
and |
265.2 |
266.9 |
1.7 |
1.4 |
33.0 |
2.0 |
7.7 |
9.9 |
Step Out |
10973 |
325.8 |
330.1 |
4.3 |
4.1 |
30.9 |
2.3 |
2.6 |
5.0 |
Santa Elena |
including |
325.8 |
327.7 |
1.8 |
1.7 |
33.0 |
3.7 |
4.3 |
7.9 |
including |
327.7 |
328.7 |
1.0 |
1.0 |
7.0 |
0.0 |
0.0 |
0.1 |
including |
328.7 |
330.1 |
1.4 |
1.4 |
45.0 |
2.0 |
2.4 |
4.8 |
and |
336.0 |
338.9 |
2.8 |
2.7 |
38.3 |
3.1 |
4.1 |
7.3 |
including |
336.0 |
337.4 |
1.4 |
1.3 |
13.0 |
1.3 |
2.4 |
3.6 |
including |
337.4 |
338.9 |
1.5 |
1.4 |
62.0 |
4.8 |
5.8 |
10.7 |
Step Out |
10988 |
349.6 |
350.8 |
1.2 |
1.2 |
28.0 |
2.6 |
2.6 |
5.2 |
Santa Elena |
and |
355.6 |
356.6 |
1.0 |
1.0 |
6.0 |
0.1 |
10.4 |
10.6 |
Step Out |
10982 |
325.2 |
333.8 |
8.5 |
8.1 |
5.5 |
0.2 |
5.6 |
5.8 |
Santa Elena |
including |
325.2 |
330.3 |
5.0 |
4.8 |
9.4 |
0.4 |
9.4 |
9.9 |
including |
330.3 |
332.2 |
2.0 |
1.9 |
1.0 |
0.0 |
0.8 |
0.8 |
including |
332.2 |
333.8 |
1.5 |
1.4 |
10.0 |
0.2 |
8.9 |
9.2 |
and |
338.3 |
345.9 |
7.6 |
7.1 |
23.1 |
0.4 |
3.6 |
4.3 |
including |
338.3 |
339.9 |
1.5 |
1.4 |
67.0 |
0.3 |
3.5 |
4.8 |
including |
339.9 |
341.7 |
1.8 |
1.7 |
7.0 |
0.1 |
1.5 |
1.7 |
including |
341.7 |
345.9 |
4.3 |
4.0 |
14.3 |
0.6 |
4.6 |
5.3 |
Step Out |
10995 |
No Significant Intercepts |
Santa Elena |
* True Thickness and apparent widths are
estimates. |
** Price assumptions used were US$1.21/lb Zn,
US$1.06/lb Pb and US$18/troy oz Ag. Zinc equivalent metal grade
(ZnEq. %) was calculated as follows: Zn% +(Pb x 0.82) +(Ag
g/t x 0.0149) = ZnEq% and is based on 88.9% Zn recovery, 74.3% Pb
recovery and 77.7% Ag |
|
Table 2: Collar Table
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|
UTM Coordinates (WGS84Z16N) |
|
|
|
Area |
Drill Hole Category |
Mine Level (ft) |
DDH No. |
Easting (m) |
Northing (m) |
Elev. (m) |
Azi. |
Incl. |
Length (m) |
Esperanza |
Infill |
2605 |
10991 |
381,780 |
1,643,192 |
171 |
249 |
19 |
73.2 |
Esperanza |
Infill |
2605 |
10993 |
381,780 |
1,643,192 |
172 |
250 |
41 |
94.5 |
Esperanza |
Infill |
2605 |
10996 |
381,780 |
1,643,192 |
172 |
263 |
30 |
82.3 |
Esperanza |
Infill |
2605 |
10998 |
381,780 |
1,643,192 |
172 |
262 |
45 |
96.0 |
Esperanza |
Infill |
2605 |
10999 |
381,780 |
1,643,192 |
171 |
260 |
17 |
73.2 |
Esperanza |
Infill |
2605 |
11002 |
381,780 |
1,643,192 |
173 |
260.6 |
53.6 |
121.3 |
Esperanza |
Infill |
2605 |
11005 |
381,781 |
1,643,194 |
171 |
291 |
26 |
83.8 |
Esperanza |
Infill |
2605 |
11010 |
381,781 |
1,643,196 |
170 |
326 |
-15 |
150.6 |
Esperanza |
Infill |
2605 |
11015 |
381,782 |
1,643,195 |
170 |
331 |
-36.4 |
74.1 |
Port Royal Manto |
Infill |
2450 |
10986 |
381,780 |
1,643,192 |
172 |
328.5 |
-36 |
96.0 |
Port Royal Manto |
Infill |
2450 |
10990 |
382,308 |
1,642,557 |
193 |
311 |
-35 |
180.1 |
Port Royal Manto |
Infill |
2450 |
10992 |
382,308 |
1,642,557 |
193 |
312 |
-30 |
217.9 |
Port Royal Manto |
Infill |
2450 |
11000 |
382,308 |
1,642,556 |
192 |
290 |
-44 |
150.9 |
Port Royal Manto |
Infill |
2450 |
10997 |
382,309 |
1,642,559 |
192 |
346.9 |
-42.5 |
175.3 |
Port Royal Manto |
Infill |
2450 |
11012 |
382,311 |
1,642,555 |
192 |
90 |
-43.5 |
103.9 |
Port Royal Manto |
Infill |
2450 |
11014 |
382,311 |
1,642,556 |
192 |
86 |
-58.5 |
82.3 |
Port Royal Manto |
Infill |
2450 |
11020 |
382,311 |
1,642,557 |
192 |
16.2 |
-40 |
103.6 |
Port Royal Manto |
Infill |
2450 |
11017 |
382,311 |
1,642,557 |
192 |
30 |
-59 |
71.6 |
Porvenir |
Step Out |
2790 |
10994 |
384,385 |
1,642,350 |
111 |
73 |
-42 |
323.1 |
Porvenir |
Step Out |
2790 |
10987 |
384,383 |
1,642,351 |
111 |
44 |
-39 |
300.2 |
Santa Elena |
Step Out |
2680 |
10973 |
383,378 |
1,643,006 |
125 |
80 |
-74 |
350.5 |
Santa Elena |
Step Out |
2680 |
10988 |
383,373 |
1,643,007 |
126 |
312 |
-38 |
420.6 |
Santa Elena |
Step Out |
2680 |
10982 |
383,378 |
1,643,003 |
125 |
127.5 |
-61 |
353.6 |
Santa Elena |
Step Out |
2680 |
10995 |
383,374 |
1,643,007 |
125 |
330.6 |
-39.4 |
475.5 |
|
|
|
|
|
|
|
|
|
|
Quality Assurance and Quality Control
Analytical work was carried out by Bureau
Veritas Commodities Canada Ltd. (ACME), Vancouver, Canada.
Drill core samples were prepared in Bureau Veritas’s laboratory in
Guatemala City, Guatemala. Pulp samples were then sent to their
analytical Laboratory in Vancouver, Canada. All samples were
analyzed for zinc, Lead, copper, iron and silver values determined
by method code AR402 atomic absorption spectrometry, and any over
limit values were determined using method code FA410. Bureau
Veritas has routine quality control procedures which ensure that
every batch of 40 prepared samples includes three sample repeats,
two commercial standards and blanks. Bureau Veritas is independent
from Ascendant. Ascendant used standard QA/QC procedures, when
inserting blanks, for the drilling program.
Qualified Persons
The scientific and technical information in this
press release has been reviewed and approved by Patrick E. Toth,
P.Geo., Director Exploration to Ascendant and a Qualified Person as
defined by National Instrument 43-101.
About Ascendant Resources
Inc.
Ascendant is a Toronto-based mining company
focused on its flagship 100%-owned producing El Mochito zinc, lead
and silver mine in west-central Honduras, which has been in
production since 1948. After acquiring the mine in December 2016,
Ascendant spent 2017 implementing a rigorous and successful
optimization program restoring the historic potential of El Mochito
delivering record levels of production with profitability restored.
The Company now remains focused on cost reduction and further
operational improvements to drive robust profitability in 2018 and
beyond. Expanding and upgrading El Mochito’s significant Mineral
Reserves and Resources through exploration work for near-mine
growth is an ongoing focus for the Company. With a significant land
package of 11,000 hectares in Honduras and an abundance of
historical data, there are several regional targets providing
longer term exploration upside which could lead to further resource
growth.
Ascendant also holds an interest in the
high-grade polymetallic Lagoa Salgada VMS Project located in the
prolific Iberian Pyrite Belt in Portugal. The Company is engaged in
exploration of the Project with the goal of expanding already
substantial defined Mineral Resources and testing additional known
targets. The Company’s acquisition of its interest in the Lagoa
Salgada Project offers a low-cost entry point to a potentially
significant exploration and development opportunity. The Company
holds an additional option to increase their interest in the
Project upon completion of certain milestones.
Ascendant Resources is engaged in the ongoing
evaluation of producing and development stage mineral resource
opportunities, on an ongoing basis. The Company's common shares are
principally listed on the Toronto Stock Exchange under the symbol
"ASND". For more information on Ascendant Resources, please visit
our website at www.ascendantresources.com.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX) accepts responsibility for the adequacy or
accuracy of this release. For further information please
contact:
Katherine PrydeDirector, Communications &
Investor RelationsTel: 888-723-7413info@ascendantresources.com
Cautionary Notes to US
Investors
The information concerning the Company’s mineral
properties has been prepared in accordance with National Instrument
43-101 (“NI-43-101”) adopted by the Canadian Securities
Administrators. In accordance with NI-43-101, the terms “mineral
reserves”, “proven mineral reserve”, “probable mineral reserve”,
“mineral resource”, “measured mineral resource”, “indicated mineral
resource” and “inferred mineral resource” are defined in the
Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”)
Definition Standards for Mineral Resources and Mineral Reserves
adopted by the CIM Council on May 10, 2014. While the terms
“mineral resource”, “measured mineral resource”, “indicated mineral
resource” and “inferred mineral resource” are recognized and
required by NI 43-101, the U.S. Securities Exchange Commission
(“SEC”) does not recognize them. The reader is cautioned that,
except for that portion of mineral resources classified as mineral
reserves, mineral resources do not have demonstrated economic
value. Inferred mineral resources have a high degree of uncertainty
as to their existence and as to whether they can be economically or
legally mined. It cannot be assumed that all or any part of any
inferred mineral resource will ever be upgraded to a higher
category. Therefore, the reader is cautioned not to assume that all
or any part of an inferred mineral resource exists, that it can be
economically or legally mined, or that it will ever be upgraded to
a higher category. Likewise, you are cautioned not to assume that
all or any part of a measured or indicated mineral resource will
ever be upgraded into mineral reserves.
Readers should be aware that the Company’s
financial statements (and information derived therefrom) have been
prepared in accordance with International Financial Reporting
Standards (“IFRS”) as issued by the International Accounting
Standards Board and are subject to Canadian auditing and auditor
independence standards. IFRS differs in some respects from United
States generally accepted accounting principles and thus the
Company’s financial statements (and information derived therefrom)
may not be comparable to those of United States companies.
Forward Looking
Information
This news release contains "forward-looking statements" and
"forward-looking information" (collectively, "forward-looking
information") within the meaning of applicable Canadian securities
legislation. All information contained in this news release, other
than statements of current and historical fact, is forward-looking
information. Often, but not always, forward-looking information can
be identified by the use of words such as "plans", "expects",
"budget", "guidance", "scheduled", "estimates", "forecasts",
"strategy", "target", "intends", "objective", "goal",
"understands", "anticipates" and "believes" (and variations of
these or similar words) and statements that certain actions, events
or results "may", "could", "would", "should", "might" "occur" or
"be achieved" or "will be taken" (and variations of these or
similar expressions). Forward-looking information is also
identifiable in statements of currently occurring matters which may
continue in the future, such as "providing the Company with", "is
currently", "allows/allowing for", "will advance" or "continues to"
or other statements that may be stated in the present tense with
future implications. All of the forward-looking information in this
news release is qualified by this cautionary note.
Forward-looking information in this news release
includes, but is not limited to, statements regarding the
opportunity for reserves and resources conversion and growth
through exploration, the increase in head grade and value per tonne
mined and the resume of exploration activities in 2019.
Forward-looking information is not, and cannot be, a guarantee of
future results or events. Forward-looking information is based on,
among other things, opinions, assumptions, estimates and analyses
that, while considered reasonable by Ascendant at the date the
forward-looking information is provided, inherently are subject to
significant risks, uncertainties, contingencies and other factors
that may cause actual results and events to be materially different
from those expressed or implied by the forward-looking information.
The material factors or assumptions that Ascendant identified and
were applied by Ascendant in drawing conclusions or making
forecasts or projections set out in the forward-looking information
include, but are not limited to, the ability to increase the feed
and the ability to expand resources and grades at the Mine, the
ability to continue with exploration activities in 2019 and other
events that may affect Ascendant's ability to develop its project;
and no significant and continuing adverse changes in general
economic conditions or conditions in the financial markets.
The risks, uncertainties, contingencies and
other factors that may cause actual results to differ materially
from those expressed or implied by the forward-looking information
may include, but are not limited to, risks generally associated
with the mining industry, such as economic factors (including
future commodity prices, currency fluctuations, energy prices and
general cost escalation), uncertainties related to the development
and operation of Ascendant's projects, the continuance of
exploration activities in 2019, dependence on key personnel and
employee and union relations, risks related to political or social
unrest or change, rights and title claims, operational risks and
hazards, including unanticipated environmental, industrial and
geological events and developments and the inability to insure
against all risks, failure of plant, equipment, processes,
transportation and other infrastructure to operate as anticipated,
compliance with government and environmental regulations, including
permitting requirements and anti-bribery legislation, volatile
financial markets that may affect Ascendant's ability to obtain
additional financing on acceptable terms, the failure to obtain
required approvals or clearances from government authorities on a
timely basis, uncertainties related to the geology, continuity,
grade and estimates of mineral reserves and resources, and the
potential for variations in grade and recovery rates, uncertain
costs of reclamation activities, tax refunds, hedging transactions,
as well as the risks discussed in Ascendant's most recent Annual
Information Form on file with the Canadian provincial securities
regulatory authorities and available at www.sedar.com.
Should one or more risk, uncertainty,
contingency, or other factor materialize, or should any factor or
assumption prove incorrect, actual results could vary materially
from those expressed or implied in the forward-looking information.
Accordingly, the reader should not place undue reliance on
forward-looking information. Ascendant does not assume any
obligation to update or revise any forward-looking information
after the date of this news release or to explain any material
difference between subsequent actual events and any forward-looking
information, except as required by applicable law.
Ascendant Resources (TSX:ASND.WT)
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