Ascendant Resources Inc. (TSX: ASND | OTCQB: ASDRF | FRA: 2D9) has commenced a regional exploration programme, 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 company’s North Zone at its Lagoa Salgada property located on the Iberian Pyrite Belt in Portugal.
On the Iberian Pyrite Belt, as with most VMS districts around the world, VMS orebodies tend to occur in “clusters” as opposed to being single deposits. The Ascendant team have prioritized Anomaly D and B as having the potential to be additional clusters of mineralization at scale and with grade.
Drilling has commenced at the first target known as “Anomaly D” and has reached a depth of approximately 28m, Ascendant expects to intersect the “core” of the target at the expected depth of 350m-400m by early February 2023. Anomaly D is located 700m to the north-east of the project’s South Zone at Lagoa Salgada and has estimated dimensions of approximately 500m of strike length and 600m of downdip length.
Anomaly D coincides with an elongated gravity anomaly that extends throughout the central part of the 7,209ha Lagoa Salgada property and demonstrates an electromagnetic signature very similar to that of the North Zone. The company believes this target may represent the folding of the same permissive horizon as the North Zone.
Ascendant has prioritized Anomaly D 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: i) tonnage and grade, representing 12.8Mt of the existing Resource; and ii) importantly, between 65-75% of the US$246.7M NPV8%, as outlined in the company’s 43-101 PEA dated September 21, 2021.
Mark Brennan, executive chairman of Ascendant stated, “This is the first step-out programme to target additional orebodies since Ascendant 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”.
To find out more, please visit www.ascendantresources.com
