TORONTO, ONTARIO–(Marketwired – June 26, 2017) – Ascendant Resources Inc. (TSX VENTURE:ASND)(FRANKFURT:2D9) (“Ascendant” or the “Company”) is pleased to announce results of 29 diamond drill holes (7,447m) as part of its ongoing underground exploration and definition drilling program at its El Mochito Mine in Honduras. The drilling results are evenly split between step-out and in-fill drill holes, targeting the extensions of four ore bodies, namely Palmar Dyke, Santa Elena, Victoria and Esperanza.
Three areas are very close to existing workings and could be accessed within six to twelve months. The fourth, the Esperanza orebody, is already being mined on its western edge while this drilling represents a further extension to the East showing similar grades. All orebodies remain open along strike and at depth.
Key Highlights
A few significant results include (these are all true widths):
Step-out Holes
- HOLE 10846 – 17.6m at 5.3% zinc, 3.8% lead and 83 g/t silver (Palmer Dyke)
- HOLE 10844 – 8.6m at 10.7% zinc, 4.0% lead and 95 g/t silver (Palmar Dyke)
- HOLE 10845 – 17.0m at 5.0% zinc, 2.0% lead and 53 g/t silver (Victoria)
- HOLE 10837 – 5.5m at 17.3% zinc, 3.6% lead and 142 g/t silver (Palmar Dyke)
In-fill Holes
- HOLE 10833 – 35.4m at 5.6% zinc, 2.0% lead and 31 g/t silver,
- including 5.4m at 7.8% zinc, 2.6% lead and 35 g/t silver (Santa Elena)
- HOLE 10847 – 17.5m at 6.2% zinc, 2.2% lead, and 41 g/t silver (Esperanza)
- HOLE 10828 – 26.5m at 5.7% zinc, 0.6% lead and 18 g/t silver (Santa Elena)
- HOLE 10826 – 17.1m at 5.8% zinc, 1.2% lead and 36 g/t silver (Esperanza)
Chris Buncic, President and CEO of Ascendant commented: “These initial drill results are well above current mining grades and highlight the incredible potential for additional high grade zinc mineralization at our El Mochito property. Of critical importance is the fact that many of the areas we are drilling from are at current workings that can be brought into the production schedule within the next twelve months. This is the first serious exploration program undertaken at El Mochito in many years and we are hopeful that more opportunities can be exposed. We look forward to providing further results from our current 33,200m drill program as they become available over the coming months.”
| Table 1: Significant Assays | ||||||||||||||||
| Drill holes | From | To | Interval (m) |
True/Apparent* width (m) | Zn (%) | Pb (%) | Ag (g/t) | Area | ||||||||
| 10839** | 191.41 | 196.69 | 5.27 | 4.75 | 2.9 | 2.5 | 67 | Palmar Dyke | ||||||||
| including | 195.07 | 196.69 | 1.62 | 1.45 | 7.9 | 6.7 | 164 | Palmar Dyke | ||||||||
| 10846** | 173.13 | 192.69 | 19.57 | 17.61 | 5.3 | 3.8 | 83 | Palmar Dyke | ||||||||
| including | 173.13 | 179.53 | 6.40 | 5.76 | 3.9 | 3.2 | 66 | Palmar Dyke | ||||||||
| including | 180.44 | 184.40 | 3.96 | 3.57 | 6.3 | 4.4 | 97 | Palmar Dyke | ||||||||
| including | 188.67 | 192.69 | 4.02 | 3.62 | 11.7 | 8.1 | 179 | Palmar Dyke | ||||||||
| 10852** | 40.75 | 41.76 | 1.01 | 0.91 | 4.4 | 12.4 | 1,565 | Palmar Dyke | ||||||||
| and | 184.86 | 190.20 | 5.33 | 4.80 | 4.5 | 3.0 | 394 | Palmar Dyke | ||||||||
| and | 195.07 | 201.63 | 6.55 | 5.90 | 5.6 | 4.2 | 75 | Palmar Dyke | ||||||||
| including | 196.60 | 198.12 | 1.52 | 1.37 | 6.5 | 6.8 | 116 | Palmar Dyke | ||||||||
| Including | 199.64 | 201.63 | 1.98 | 1.78 | 10.9 | 6.7 | 118 | Palmar Dyke | ||||||||
| 10854** | 38.25 | 39.47 | 1.22 | 1.10 | 0.7 | 0.8 | 658 | Palmar Dyke | ||||||||
| and | 40.54 | 41.76 | 1.22 | 1.10 | 1.4 | 1.2 | 148 | Palmar Dyke | ||||||||
| and | 166.12 | 176.48 | 10.36 | 9.33 | 3.9 | 2.2 | 59 | Palmar Dyke | ||||||||
| and | 191.11 | 193.55 | 2.44 | 2.19 | 9.8 | 1.3 | 80 | Palmar Dyke | ||||||||
| 10856** | 164.59 | 166.73 | 2.13 | 1.92 | 14.0 | 6.4 | 188 | Palmar Dyke | ||||||||
| and | 207.26 | 211.23 | 3.96 | 3.57 | 6.9 | 5.1 | 58 | Palmar Dyke | ||||||||
| 10848** | 29.41 | 30.18 | 0.76 | 0.69 | 1.0 | 0.7 | 324 | Palmar Dyke | ||||||||
| and | 179.22 | 181.05 | 1.83 | 1.65 | 3.2 | 4.5 | 126 | Palmar Dyke | ||||||||
| 10842** | 21.64 | 23.62 | 1.98 | 1.78 | 2.2 | 1.6 | 220 | Palmar Dyke | ||||||||
| and | 171.91 | 173.58 | 1.68 | 1.51 | 1.4 | 0.9 | 1,882 | Palmar Dyke | ||||||||
| 10837** | 129.84 | 131.22 | 1.37 | 1.23 | 29.7 | 12.7 | 277 | Palmar Dyke | ||||||||
| and | 135.33 | 136.40 | 1.07 | 0.96 | 3.3 | 2.7 | 1,405 | Palmar Dyke | ||||||||
| and | 146.30 | 152.40 | 6.10 | 5.49 | 17.3 | 3.6 | 142 | Palmar Dyke | ||||||||
| including | 146.30 | 149.05 | 2.74 | 2.47 | 34.1 | 7.0 | 287 | Palmar Dyke | ||||||||
| and | 160.63 | 167.03 | 6.40 | 4.11 | 2.6 | 1.7 | 203 | Palmar Dyke | ||||||||
| including | 165.81 | 167.03 | 1.22 | 1.10 | 4.9 | 3.2 | 665 | Palmar Dyke | ||||||||
| 10844** | 174.50 | 184.10 | 9.60 | 8.64 | 10.7 | 4.0 | 95 | Palmar Dyke | ||||||||
| including | 178.31 | 181.05 | 2.74 | 2.47 | 15.2 | 7.1 | 163 | Palmar Dyke | ||||||||
| 10828 | 327.69 | 328.03 | 0.34 | 0.30 | 4.0 | 3.8 | 65 | Santa Elena | ||||||||
| and | 332.93 | 362.41 | 29.47 | 26.53 | 5.7 | 0.6 | 18 | Santa Elena | ||||||||
| including | 332.93 | 334.37 | 1.43 | 1.29 | 11.3 | 7.7 | 90 | Santa Elena | ||||||||
| including | 337.41 | 338.72 | 1.31 | 1.18 | 14.1 | 0.1 | 7 | Santa Elena | ||||||||
| including | 341.38 | 347.78 | 6.40 | 5.76 | 6.5 | 0.2 | 22 | Santa Elena | ||||||||
| including | 355.40 | 362.41 | 7.01 | 6.31 | 11.0 | 0.3 | 10 | Santa Elena | ||||||||
| 10833 | 345.34 | 389.53 | 44.20 | 35.36 | 5.6 | 2.0 | 31 | Santa Elena | ||||||||
| including | 345.34 | 352.04 | 6.71 | 5.36 | 7.8 | 2.6 | 35 | Santa Elena | ||||||||
| Including | 346.86 | 348.48 | 1.62 | 1.29 | 16.3 | 5.5 | 73 | Santa Elena | ||||||||
| and | 355.55 | 362.41 | 6.86 | 5.49 | 8.3 | 0.9 | 14 | Santa Elena | ||||||||
| and | 363.63 | 374.90 | 11.28 | 9.02 | 5.9 | 5.1 | 69 | Santa Elena | ||||||||
| and | 382.83 | 389.53 | 6.71 | 5.36 | 7.2 | 0.9 | 37 | Santa Elena | ||||||||
| including | 385.27 | 386.79 | 1.52 | 1.22 | 17.0 | 1.3 | 95 | Santa Elena | ||||||||
| 10838 | 330.37 | 345.03 | 14.66 | 12.02 | 7.8 | 3.7 | 46 | Santa Elena | ||||||||
| including | 330.37 | 337.11 | 6.74 | 5.52 | 9.2 | 8.0 | 95 | Santa Elena | ||||||||
| including | 332.54 | 337.11 | 4.57 | 3.75 | 11.6 | 10.2 | 125 | Santa Elena | ||||||||
| and | 343.20 | 345.03 | 1.83 | 1.50 | 11.4 | 0.0 | 8 | Santa Elena | ||||||||
| 10826 | 369.20 | 393.19 | 23.99 | 17.13 | 5.8 | 1.2 | 36 | Esperanza | ||||||||
| Including | 369.20 | 380.09 | 10.88 | 7.77 | 5.6 | 2.5 | 57 | Esperanza | ||||||||
| Including | 369.20 | 370.33 | 1.13 | 1.68 | 7.1 | 7.3 | 136 | Esperanza | ||||||||
| including | 372.86 | 376.12 | 3.26 | 2.33 | 7.5 | 2.7 | 72 | Esperanza | ||||||||
| including | 383.44 | 393.19 | 9.75 | 6.97 | 7.3 | 0.2 | 21 | Esperanza | ||||||||
| 10834 | 307.54 | 309.37 | 1.83 | 1.31 | 11.0 | 0.0 | 9 | Esperanza | ||||||||
| and | 315.47 | 325.37 | 9.91 | 7.08 | 7.3 | 0.5 | 22 | Esperanza | ||||||||
| and | 329.18 | 337.41 | 8.23 | 5.88 | 3.4 | 0.6 | 24 | Esperanza | ||||||||
| including | 329.18 | 330.71 | 1.52 | 1.09 | 5.1 | 1.6 | 97 | Esperanza | ||||||||
| 10840 | 234.39 | 237.74 | 3.35 | 2.39 | 4.6 | 4.8 | 117 | Esperanza | ||||||||
| and | 354.97 | 360.76 | 5.79 | 3.18 | 5.2 | 0.2 | 14 | Esperanza | ||||||||
| and | 368.50 | 379.84 | 11.34 | 8.10 | 6.7 | 2.8 | 171 | Esperanza | ||||||||
| including | 368.50 | 374.60 | 6.10 | 4.35 | 3.8 | 2.1 | 187 | Esperanza | ||||||||
| including | 376.12 | 379.84 | 3.72 | 2.66 | 13.8 | 5.1 | 213 | Esperanza | ||||||||
| 10843 | 283.46 | 306.02 | 22.56 | 18.07 | 4.3 | 3.3 | 45 | Esperanza | ||||||||
| and | 312.12 | 314.55 | 2.44 | 1.74 | 6.7 | 0.1 | 12 | Esperanza | ||||||||
| 10847 | 387.25 | 410.87 | 23.62 | 17.53 | 6.2 | 2.2 | 41 | Esperanza | ||||||||
| including | 387.25 | 399.59 | 12.34 | 8.82 | 9.4 | 4.1 | 70 | Esperanza | ||||||||
| and | 405.08 | 410.87 | 5.79 | 4.14 | 5.5 | 0.4 | 22 | Esperanza | ||||||||
| 10850 | 420.01 | 429.77 | 9.75 | 6.97 | 9.4 | 3.1 | 54 | Esperanza | ||||||||
| and | 436.78 | 438.91 | 2.13 | 1.52 | 0.0 | 0.2 | 306 | Esperanza | ||||||||
| 10853 | 344.82 | 363.93 | 19.11 | 13.65 | 4.0 | 0.9 | 30 | Esperanza | ||||||||
| Including | 344.82 | 350.22 | 5.39 | 3.85 | 4.6 | 1.3 | 20 | Esperanza | ||||||||
| including | 356.92 | 363.93 | 7.01 | 5.01 | 5.7 | 0.7 | 28 | Esperanza | ||||||||
| 10823 | 49.99 | 52.76 | 2.77 | 2.50 | 8.0 | 4.3 | 54 | Victoria | ||||||||
| including | 51.51 | 52.76 | 1.25 | 1.12 | 14.6 | 8.7 | 107 | Victoria | ||||||||
| 10824** | 86.87 | 88.48 | 1.62 | 1.45 | 2.6 | 2.1 | 50 | Victoria | ||||||||
| 10827** | 40.05 | 41.45 | 1.40 | 1.26 | 8.6 | 5.6 | 56 | Victoria | ||||||||
| 10841** | 126.34 | 128.02 | 1.68 | 1.51 | 2.2 | 1.8 | 352 | Victoria | ||||||||
| and | 144.29 | 146.33 | 2.04 | 1.84 | 23.8 | 2.0 | 134 | Victoria | ||||||||
| and | 147.40 | 148.74 | 1.34 | 1.21 | 3.6 | 2.2 | 151 | Victoria | ||||||||
| and | 155.14 | 156.97 | 1.83 | 1.65 | 27.3 | 0.1 | 25 | Victoria | ||||||||
| 10845** | 139.29 | 158.19 | 18.90 | 17.01 | 5.0 | 2.0 | 53 | Victoria | ||||||||
| including | 149.35 | 158.19 | 8.84 | 7.96 | 8.1 | 3.1 | 69 | Victoria | ||||||||
| including | 149.35 | 150.88 | 1.52 | 1.37 | 14.3 | 2.7 | 47 | Victoria | ||||||||
| and | 154.23 | 155.30 | 1.07 | 0.96 | 17.0 | 10.4 | 211 | Victoria | ||||||||
| and | 156.97 | 158.19 | 1.22 | 1.10 | 8.6 | 5.0 | 101 | Victoria | ||||||||
| and | 103.33 | 104.55 | 1.22 | 1.10 | 1.6 | 1.4 | 215 | Victoria | ||||||||
| 10851** | 156.36 | 158.50 | 2.13 | 1.92 | 20.8 | 0.5 | 93 | Victoria | ||||||||
| 10855 | 98.63 | 102.29 | 3.66 | 3.29 | 4.7 | 3.7 | 469 | Victoria | ||||||||
| including | 100.58 | 102.29 | 1.71 | 1.54 | 8.4 | 5.3 | 740 | Victoria | ||||||||
| and | 144.38 | 149.35 | 4.97 | 4.47 | 11.0 | 4.3 | 123 | Victoria | ||||||||
| and | 153.92 | 156.97 | 3.05 | 2.74 | 10.2 | 1.4 | 53 | Victoria | ||||||||
| 10836, 10849, 10857 No significant assays | ||||||||||||||||
| * True thickness is not known at this time in the case of Victoria and Palmar Dyke | ||||||||||||||||
| ** Step-out drill hole | ||||||||||||||||
| Table 2: Drill Hole Information | ||||||||||||||||||
| Local Coordinates | ||||||||||||||||||
| DDH No. | East | North | Elevation | Azimuth | Inclination | Depth | Area | UG Level | Category | |||||||||
| 10826 | 2,632.5 | 12,212.1 | 10,796.00 | 12 | -47 | 1360 | Esperanza | 1815 | In-fill | |||||||||
| 10834 | 2,631.9 | 12,213.1 | 10,796.00 | 5 | -51.5 | 1170 | Esperanza | 1815 | In-fill | |||||||||
| 10840 | 2,632.0 | 12,213.6 | 10,796.00 | 4.5 | -44.5 | 1307 | Esperanza | 1815 | In-fill | |||||||||
| 10843 | 2,632.5 | 12,214.4 | 10,801.00 | 7.5 | -55.2 | 1130 | Esperanza | 1815 | In-fill | |||||||||
| 10847 | 2,632.8 | 12,217.2 | 10,801.00 | 7 | -45 | 1390 | Esperanza | 1815 | In-fill | |||||||||
| 10850 | 2,632.9 | 12,217.7 | 10,801.00 | 7 | -39.3 | 1510 | Esperanza | 1815 | In-fill | |||||||||
| 10853 | 2,633.4 | 12,217.0 | 10,801.00 | 11.5 | -49.5 | 1250 | Esperanza | 1815 | In-fill | |||||||||
| 10837 | 11,348.5 | 9,950.5 | 9,845.70 | 341.5 | 64 | 583 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10839 | 11,048.4 | 9,975.1 | 9,843.70 | 340 | 58.8 | 763 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10841 | 11,350.0 | 9,945.0 | 9,844.00 | 341 | 52.7 | 590 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10842 | 11,048.4 | 9,975.1 | 9,843.70 | 337.1 | 51.2 | 775 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10844 | 11,051.0 | 9,975.1 | 9,848.70 | 23 | 65.2 | 710 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10845 | 11,348.6 | 9,950.5 | 9,847.70 | 342.5 | 69.5 | 578 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10846 | 11,052.7 | 9,974.7 | 9,849.70 | 30 | 72 | 703 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10848 | 11,052.7 | 9,974.7 | 9,847.70 | 31 | 60 | 749 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10851 | 11,350.0 | 9,950.8 | 9,845.70 | 30 | 60 | 536 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10852 | 11,052.7 | 9,974.7 | 9,850.70 | 31 | 79.5 | 715 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10854 | 11,054.2 | 9,974.4 | 9,848.70 | 46 | 67 | 717 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10855 | 11,350.0 | 9,950.8 | 9,846.70 | 3.8 | 69 | 545 | Palmar Dyke | 2790 | In-fill | |||||||||
| 10856 | 11,050.0 | 9,973.3 | 9,851.90 | 355 | 80 | 723 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10857 | 11,048.0 | 9,975.0 | 9,849.70 | 329.5 | 74.2 | 765 | Palmar Dyke | 2790 | Step-out | |||||||||
| 10828 | 8,062.4 | 12,123.3 | 9,876.00 | 19.5 | -67.3 | 1260 | Santa Elena | 2680 | In-fill | |||||||||
| 10833 | 8,061.7 | 12,121.5 | 9,876.60 | 18.5 | -63.5 | 1349 | Santa Elena | 2680 | In-fill | |||||||||
| 10838 | 8,061.3 | 12,120.5 | 9,876.60 | 17.5 | -74.1 | 1200 | Santa Elena | 2680 | In-fill | |||||||||
| 10823 | 11,347.8 | 9,948.8 | 9,831.70 | 327.6 | -23 | 438 | Victoria | 2790 | In-fill | |||||||||
| 10824 | 11,349.6 | 9,946.6 | 9,831.70 | 342.6 | -5.6 | 400 | Victoria | 2790 | Step-out | |||||||||
| 10827 | 11,348.6 | 9,950.2 | 9,831.70 | 341.5 | -41.5 | 365 | Victoria | 2790 | Step-out | |||||||||
| 10836 | 11,348.5 | 9,946.2 | 9,831.70 | 310 | -51.2 | 330 | Victoria | 2790 | Step-out | |||||||||
| 10849 | 11,348.6 | 9,950.5 | 9,836.70 | 343.2 | 21.5 | 522 | Victoria | 2790 | Step-out | |||||||||
The following link shows the position of the discussed Areas relative to the mine layout: http://bit.ly/2t3O9YN
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. The scientific and technical information in this press release has been reviewed and approved by Andy Campbell, P.Geo., Director to Ascendant and a Qualified Person as defined by National Instrument 43-101.
About Ascendant Resources
Ascendant Resources Inc. is a mining company focused on its producing El Mochito zinc, silver and lead mine in west-central Honduras in which the Company has a 100% interest. El Mochito has been in production since 1948. The Company evaluates producing and advanced development stage mineral resource acquisition opportunities in North, South and Central America, on an ongoing basis. The Company’s common shares are principally listed on the TSX Venture Exchange under the symbol “ASND”. For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation.
Forward-looking information is based on reasonable assumptions that have been made by Ascendant as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Ascendant to be materially different from those expressed or implied by such forward-looking information, including but not limited to: drilling results, production statistics; ore grades; tonnes milled; recovery rates; operating costs; the timing and amount of estimated future production; capital expenditures; the impact of general business and economic conditions; the ability of the Company to increase production; the arrival of new equipment; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Ascendant; stock market volatility; competition; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Ascendant’s ability to control or predict.
Although Ascendant has attempted to identify important factors that could cause actual outcomes to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual outcomes and future events could differ materially from those reliant on forward-looking information.
All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Ascendant disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.
Chris Buncic
President & CEO
888-723-7413
info@ascendantresources.com