Ascendant Resources Inc. (TSX: ASND | OTCQB: ASDRF) has reported assay results from an additional three holes drilled to support metallurgical variability testing in the North Zone of Venda Nova at the company’s Lagoa Salgada VMS Project, Portugal.
As of 29 November 2022, Ascendant has completed 23 drill holes (11 metallurgy holes reported and 12 infill holes) totalling 10,453m as part of an overall drill programme to support the completion of a bankable feasibility study, which the company expects to be completed by the end of Q1 2023.
Two additional infill holes are also currently in progress in the South Zone for a total of 985m. The assays reported by Ascendant today represent full results received as of 22 November 2022 and include three metallurgical holes collared in the North zone: Met_MS_05, Met_MS_06, and Met_MS_07.
Mark Brennan, executive chairman commented: “As we near completion of our metallurgical and Infill drill programme at Venda Nova, results continue to confirm high-grade mineralization in the North Zone and extend the potential for a new high grade copper feeder zone at depth, substantially enhancing future resource potential. Further exploration in the future will aim to define this copper rich zone more fully as we look to continue to grow the overall resource potential, we see at the Lagoa Salgada property.”
Ascendant Resources has interpreted the intersections of these drill holes to display outstanding thicknesses and grade, which continue to highlight the significant scale and quality of the Venda Nova Deposit. In addition to the grade profile, the assay results provide support to the ongoing Feasibility Study for the metallurgical variability testing which is part of the final stages of the metallurgical programme that is underway to optimize mill design, flowsheets, and confirm the recoveries to produce clean and saleable zinc, lead, and copper concentrates.
The three holes collared in the North zone confirm the existing domains and support the company’s revised expectation for grades in each of the domains. Notably hole ‘Met_MS_07’ intercepted 58.1m of primary massive sulphide from 165.0m (averaging 20.51% Zn Eq) following 6.2m @ 13.9% Zn Eq. of transition massive sulphide.
Additionally, both holes Met_MS_06 and Met_MS_07 confirmed the high grade Cu-Ag mineralization within the company’s newly domained Transition Zone. Met_MS_06 intercepted 7.2m @ 2.01% Cu and 149.4g/t Ag and Met_MS_07 intercepted 6.2m @ 1.24% Cu and 210.5g/t Ag.
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