the company said the new mineral resource estimate demonstrates material growth in both the North and South Zone deposits following a modest 7,077 metre drill program consisting of 20 drill holes.
Ascendant Resources (TSX:ASND) has announced results of an updated National Instrument 43-101 Mineral Resource Estimate at the Lagoa Salgada polymetallic Volcanogenic Massive Sulfide (VMS) project located on the Iberian Pyrite Belt in Portugal.
In the release, the company said the new mineral resource estimate demonstrates material growth in both the North Zone (Main Massive Sulfide) and the South Zone (Stockwork) deposits following a modest 7,077 metre drill program consisting of 20 drill holes. Both zones sit on an estimated geological strike length of 1.6km and have now been delineated by less than a total of 50 holes.
As highlighted in the press release:
- North Zone: measured mineral resources of 1.8 Mt at 11.02 percent zinc equivalent
- North Zone: total measured and indicated mineral resource of 6.0 Mt at 9.4 percent zinc equivalent and inferred mineral resource of 7.8 Mt at 7.4 percent zinc equivalent
- South Zone: indicated resource of 1.8 Mt at 5 percent zinc equivalent and inferred resource of 3.9Mt at 4.5 percent zinc equivalent with limited drilling (8 holes)
- Infill drilling results continue to strengthen confidence in ore grade profile
- Potential for further growth along continuous 1.6-km-long induced polarization anomaly suggesting the deposits remain open along strike and at depth.