Ascendant (TSX:ASND) starts drilling targets at Lagoa Salgada

• Ascendant Resources (ASND) began the regional exploration program at its Lagoa Salgada VMS Project
• The program is designed to drill two highly prospective geophysical targets, Anomaly D and B, that appear analogous to the known geophysical footprint of the massive sulphides within the North Zone
• The 5,000-metre exploration program will target two undrilled IP/EM anomalies with the potential for sizeable concentrations of mineralization
• Ascendant Resources Inc. (ASND) was up 2.13 per cent, trading at C$0.24 per share as of 11:40 am ET

Ascendant Resources (ASND) began the regional exploration program at its Lagoa Salgada VMS Project.

The program is designed to drill two highly prospective geophysical targets, Anomaly D and B, that appears analogous to the known geophysical footprint of the massive sulphides within the North Zone.

The 5,000-metre exploration program will target two undrilled IP/EM anomalies with the potential for sizeable concentrations of mineralization.

Drilling has commenced at the first target, known as Anomaly D and has reached a depth of 28 metres; drilling is expected to intersect the core of the target at a depth of 350 to 400 metres by early February 2023. Anomaly D is located 700 metres to the northeast of the South Zone at Lagoa Salgada and has estimated dimensions of approximately 500 metres of strike length and 600 metres of downdip length.

Anomaly D was prioritized based on the confluence of the above factors and considering the North Zone at Venda Nova is the richest portion of the current resource with respect to tonnage and grade.

Mark Brennan, Executive Chairman of Ascendant, stated that this is the first step-out program to target additional orebodies since the company acquired the option on the Lagoa Salgada Project in 2018.

“We have always held the strong view that Lagoa Salgada is still in the “Discovery” stage and the North and South Zones are, but two of numerous mineralized ore bodies and the true exploration potential at Lagoa remains untested and has the potential to be world-class in scale. If Anomaly D is indeed a replica of the North Zone, the impact on the scale and value of the project would be truly transformational.”

Drilling on the second target, the much larger and deeper Anomaly B, is expected to start later in Q1 2023.

Ascendant Resources Inc. (ASND) is a Toronto-based mining company focused on the exploration and development of the Lagoa Salgada VMS project located on the Iberian Pyrite Belt in Portugal.

Ascendant Resources Inc. (ASND) was up 2.13 per cent, trading at C$0.24 per share as of 11:40 am ET.