Ascendant Resources Inc.
(TSX:ASND) (OTCQX:ASDRF) (FRA:2D9) ("Ascendant" or the "Company”)
today issues a correction to the drilling results reported within
the January 18, 2018 press release, with the updated information
presented below in Table 1.
An incorrect calculation resulted in errors to
the original significant assays reported; the correct table is
presented below. The aggregate net-change shows many of the
original results understated and only a few individual reductions
in width. Where grades have decreased, widths have increased.
Management apologizes for the error but remains encouraged by the
positive results and the potential the results represent.
Table 1: Corrected Significant Assays
Drill Hole Category |
DDH No. |
From (m) |
To (m) |
Length (m) |
True / Apparent Length (m)* |
Ag (g/t) |
Pb (%) |
Zn (%) |
ZnEq (%)** |
Area |
|
Step out |
10909 |
56.0 |
58.2 |
2.2 |
1.9 |
59.0 |
5.0 |
7.5 |
12.5 |
Deep East |
|
and |
63.7 |
65.7 |
2.0 |
1.7 |
29.0 |
2.3 |
2.6 |
4.9 |
|
and |
71.9 |
75.7 |
3.7 |
3.7 |
121.9 |
15.0 |
19.3 |
33.7 |
|
including |
71.9 |
73.5 |
1.5 |
1.5 |
84.0 |
11.6 |
12.1 |
23.0 |
|
including |
73.5 |
74.4 |
0.9 |
0.9 |
143.0 |
17.3 |
22.9 |
39.5 |
|
including |
74.4 |
75.7 |
1.3 |
1.3 |
152.0 |
17.4 |
25.4 |
42.2 |
|
and |
186.7 |
188.3 |
1.6 |
1.5 |
26.0 |
1.8 |
5.6 |
7.5 |
|
and |
192.0 |
193.5 |
1.5 |
1.3 |
8.0 |
0.3 |
4.6 |
4.9 |
|
Step out |
10912 |
19.5 |
20.7 |
1.2 |
0.9 |
46.0 |
4.6 |
0.5 |
5.1 |
Deep East |
|
and |
70.7 |
72.4 |
1.7 |
1.5 |
96.0 |
3.3 |
12.6 |
16.9 |
|
and |
75.6 |
76.7 |
1.1 |
0.9 |
137.0 |
4.8 |
3.7 |
9.9 |
|
and |
199.6 |
201.8 |
2.1 |
2.0 |
26.0 |
3.0 |
4.1 |
7.0 |
|
and |
209.9 |
212.1 |
2.3 |
2.1 |
10.0 |
0.8 |
3.6 |
4.4 |
|
Step out |
10941 |
377.6 |
395.5 |
18.0 |
15.2 |
60.9 |
1.4 |
5.8 |
7.9 |
Esperanza |
|
including |
377.6 |
382.5 |
4.9 |
4.2 |
23.1 |
1.0 |
5.9 |
10.7 |
|
including |
382.5 |
384.0 |
1.5 |
1.3 |
14.0 |
0.0 |
2.7 |
2.9 |
|
including |
384.0 |
388.3 |
4.3 |
3.6 |
50.7 |
2.2 |
8.5 |
11.1 |
|
including |
388.3 |
395.5 |
7.2 |
6.1 |
96.5 |
1.3 |
2.6 |
5.2 |
|
and |
399.1 |
419.1 |
20.0 |
16.8 |
38.4 |
0.8 |
5.5 |
6.9 |
|
including |
399.1 |
402.6 |
3.5 |
2.9 |
51.4 |
3.6 |
7.2 |
11.1 |
|
including |
402.6 |
419.1 |
16.5 |
13.8 |
35.6 |
0.2 |
5.2 |
6.0 |
|
Step out |
10919 |
292.3 |
293.8 |
1.5 |
1.4 |
37.0 |
2.6 |
2.3 |
5.1 |
Santa Elena |
|
and |
499.3 |
500.2 |
0.9 |
0.8 |
10.0 |
0.1 |
4.3 |
4.6 |
|
and |
505.7 |
509.2 |
3.5 |
3.3 |
24.6 |
1.9 |
5.0 |
7.0 |
|
Step out |
10945 |
477.9 |
492.7 |
14.8 |
13.4 |
51.3 |
3.2 |
3.9 |
7.4 |
Santa Elena |
|
including |
477.9 |
483.1 |
5.2 |
4.7 |
17.5 |
1.7 |
1.9 |
3.6 |
|
including |
483.1 |
484.9 |
1.8 |
1.7 |
43.0 |
6.8 |
5.4 |
11.7 |
|
including |
484.9 |
489.8 |
4.9 |
4.4 |
43.5 |
3.4 |
5.0 |
8.5 |
|
including |
489.8 |
491.5 |
1.7 |
1.5 |
224.8 |
5.1 |
8.3 |
16.1 |
|
including |
491.5 |
492.7 |
1.2 |
1.1 |
19.0 |
0.2 |
3.2 |
3.6 |
|
Step out |
10892 |
118.2 |
125.0 |
6.8 |
6.4 |
16.0 |
1.0 |
6.4 |
7.5 |
Victoria |
|
including |
118.2 |
123.4 |
5.2 |
5.0 |
15.8 |
1.1 |
4.7 |
5.9 |
|
including |
123.4 |
125.0 |
1.5 |
1.4 |
17.0 |
0.6 |
12.4 |
13.2 |
|
and |
155.4 |
157.0 |
1.5 |
1.5 |
20.0 |
0.6 |
5.6 |
6.4 |
|
Step out |
10900 |
84.4 |
84.9 |
0.5 |
0.5 |
57.0 |
5.0 |
8.1 |
13.2 |
Victoria |
|
Infill |
10916 |
24.4 |
26.2 |
1.8 |
1.8 |
50.0 |
1.6 |
1.9 |
4.0 |
Esperanza |
|
Infill |
10918 |
6.7 |
8.2 |
1.5 |
1.5 |
125.0 |
5.8 |
7.1 |
13.9 |
Port Royal |
|
and |
9.0 |
13.1 |
4.1 |
4.1 |
843.2 |
20.6 |
17.7 |
48.6 |
|
including |
9.0 |
11.0 |
2.0 |
2.0 |
850.0 |
16.8 |
30.5 |
58.4 |
|
including |
11.0 |
12.2 |
1.2 |
1.2 |
350.0 |
6.4 |
8.0 |
19.1 |
|
including |
12.2 |
13.1 |
0.9 |
0.9 |
1486.0 |
47.7 |
3.0 |
66.8 |
|
Infill |
10920 |
5.5 |
6.8 |
1.3 |
1.3 |
181.0 |
3.7 |
4.0 |
10.0 |
Port Royal |
|
Infill |
10921 |
5.3 |
6.1 |
0.8 |
0.8 |
713.0 |
26.1 |
20.9 |
54.2 |
Port Royal |
|
Infill |
10923 |
No Significant Intercepts |
Port Royal |
|
Infill |
10924 |
4.6 |
6.6 |
2.0 |
1.4 |
243.0 |
9.5 |
9.3 |
21.2 |
Port Royal |
|
and |
11.3 |
12.6 |
1.4 |
1.1 |
1006.0 |
25.0 |
14.5 |
51.7 |
|
Infill |
10925 |
5.0 |
7.5 |
2.4 |
2.4 |
98.9 |
1.3 |
1.6 |
4.3 |
Port Royal |
|
Infill |
10926 |
No Significant Intercepts |
Port Royal |
|
Infill |
10927 |
5.2 |
6.4 |
1.2 |
1.1 |
219.0 |
1.8 |
1.4 |
6.5 |
Port Royal |
|
Infill |
10928 |
4.4 |
9.1 |
4.7 |
4.4 |
483.3 |
14.1 |
15.2 |
34.8 |
Port Royal |
|
including |
4.4 |
6.1 |
1.7 |
1.6 |
181.0 |
7.0 |
5.6 |
14.4 |
|
including |
6.1 |
7.6 |
1.5 |
1.4 |
707.0 |
19.6 |
23.4 |
51.2 |
|
including |
7.6 |
9.1 |
1.5 |
1.4 |
592.0 |
16.5 |
17.5 |
40.8 |
|
Infill |
10929 |
No Significant Intercepts |
Port Royal |
|
Infill |
10930 |
4.7 |
7.6 |
2.9 |
2.9 |
794.1 |
20.1 |
28.5 |
58.2 |
Port Royal |
|
and |
16.8 |
18.3 |
1.5 |
1.5 |
442.0 |
12.7 |
5.6 |
23.3 |
|
Infill |
10931 |
7.1 |
8.1 |
1.0 |
0.9 |
355.0 |
19.7 |
17.1 |
39.2 |
Port Royal |
|
and |
14.3 |
17.1 |
2.7 |
2.7 |
221.1 |
6.3 |
5.5 |
14.3 |
|
including |
14.3 |
15.5 |
1.2 |
1.2 |
345.0 |
9.5 |
11.7 |
25.2 |
|
including |
15.5 |
17.1 |
1.5 |
1.5 |
122.0 |
3.7 |
0.6 |
5.7 |
|
Infill |
10932 |
10.2 |
21.3 |
11.1 |
10.2 |
228.6 |
7.5 |
9.3 |
19.2 |
Port Royal |
|
including |
10.2 |
13.4 |
3.2 |
2.9 |
178.1 |
6.2 |
7.7 |
15.7 |
|
including |
13.4 |
15.2 |
1.8 |
1.7 |
137.0 |
3.7 |
3.5 |
8.9 |
|
including |
15.2 |
20.4 |
5.2 |
4.7 |
312.9 |
10.2 |
13.7 |
27.3 |
|
including |
20.4 |
21.3 |
0.9 |
0.8 |
111.0 |
4.0 |
1.1 |
6.2 |
|
and |
32.9 |
36.0 |
3.0 |
3.1 |
87.0 |
0.8 |
1.9 |
4.1 |
|
Infill |
10933 |
7.3 |
11.3 |
4.0 |
3.4 |
84.8 |
3.1 |
3.9 |
7.9 |
Port Royal |
|
including |
7.3 |
8.5 |
1.2 |
1.0 |
29.0 |
0.8 |
1.2 |
2.3 |
|
including |
8.5 |
9.6 |
1.1 |
0.9 |
230.0 |
9.2 |
11.5 |
22.8 |
|
including |
9.6 |
11.3 |
1.7 |
1.4 |
33.0 |
1.0 |
1.1 |
2.5 |
|
Infill |
10934 |
7.0 |
8.2 |
1.2 |
1.2 |
45.0 |
3.3 |
2.4 |
5.8 |
Port Royal |
|
Infill |
10935 |
No Significant Intercepts |
Port Royal |
|
Infill |
10937 |
10.7 |
12.2 |
1.5 |
1.4 |
96.0 |
4.0 |
1.2 |
6.0 |
Port Royal |
|
Infill |
10938 |
13.7 |
18.3 |
4.6 |
4.6 |
169.7 |
7.8 |
2.8 |
12.0 |
Port Royal |
|
including |
13.7 |
15.2 |
1.5 |
1.5 |
268.0 |
9.1 |
6.6 |
18.6 |
|
including |
15.2 |
16.8 |
1.5 |
1.5 |
77.0 |
2.2 |
0.4 |
3.5 |
|
including |
16.8 |
18.3 |
1.5 |
1.5 |
164.0 |
12.0 |
1.4 |
14.0 |
|
Infill |
10939 |
16.2 |
18.9 |
2.7 |
2.1 |
238.1 |
7.8 |
5.7 |
16.0 |
Port Royal |
|
Infill |
10940 |
19.7 |
21.6 |
2.0 |
1.6 |
68.0 |
2.9 |
1.7 |
5.2 |
Port Royal |
|
and |
26.2 |
27.3 |
1.1 |
1.1 |
138.0 |
4.5 |
1.9 |
7.8 |
|
Infill |
10885 |
360.6 |
361.8 |
1.2 |
0.9 |
8.0 |
0.1 |
6.7 |
6.9 |
Santa Elena |
|
and |
387.1 |
390.1 |
3.0 |
1.5 |
8.0 |
0.2 |
9.7 |
10.0 |
|
Infill |
10902 |
296.1 |
297.6 |
1.5 |
1.2 |
55.0 |
2.6 |
4.0 |
7.0 |
Santa Elena |
|
and |
301.2 |
308.5 |
7.2 |
7.2 |
90.7 |
5.0 |
7.7 |
13.3 |
|
including |
301.2 |
303.9 |
2.7 |
2.6 |
220.9 |
13.5 |
14.7 |
29.5 |
|
including |
303.9 |
308.5 |
4.6 |
4.5 |
15.1 |
0.1 |
3.6 |
3.9 |
|
and |
310.3 |
326.7 |
16.5 |
16.2 |
4.3 |
0.0 |
8.4 |
8.5 |
|
including |
310.3 |
312.1 |
1.8 |
1.8 |
5.0 |
0.0 |
19.3 |
19.3 |
|
including |
312.1 |
324.3 |
12.2 |
12.0 |
5.0 |
0.0 |
8.5 |
6.0 |
|
including |
324.3 |
325.5 |
1.2 |
1.2 |
3.0 |
0.0 |
18.3 |
18.3 |
|
including |
325.5 |
326.7 |
1.2 |
1.2 |
4.0 |
0.0 |
8.0 |
8.0 |
|
Infill |
10908 |
321.3 |
323.1 |
1.8 |
1.8 |
11.0 |
0.1 |
6.6 |
6.9 |
Santa Elena |
|
and |
327.7 |
329.4 |
1.7 |
1.5 |
23.0 |
0.9 |
3.5 |
4.6 |
|
and |
392.4 |
393.8 |
1.4 |
1.2 |
21.0 |
1.4 |
2.5 |
4.0 |
|
Infill |
10915 |
274.3 |
275.8 |
1.5 |
1.4 |
30.0 |
2.6 |
4.3 |
6.9 |
Santa Elena |
|
and |
308.9 |
310.3 |
1.4 |
1.3 |
28.0 |
1.4 |
2.4 |
4.0 |
|
and |
378.0 |
396.8 |
18.9 |
17.8 |
23.1 |
1.6 |
7.8 |
9.5 |
|
including |
378.0 |
380.4 |
2.4 |
2.3 |
54.0 |
5.2 |
7.1 |
12.3 |
|
including |
380.4 |
381.4 |
1.0 |
0.9 |
4.0 |
0.4 |
0.3 |
0.7 |
|
including |
381.4 |
384.0 |
2.7 |
2.5 |
48.2 |
4.1 |
8.6 |
12.8 |
|
including |
384.0 |
390.1 |
6.1 |
5.8 |
10.0 |
0.3 |
3.5 |
3.9 |
|
including |
390.1 |
393.8 |
3.7 |
3.5 |
13.8 |
0.4 |
19.7 |
20.3 |
|
including |
393.8 |
396.8 |
3.0 |
2.9 |
20.0 |
1.1 |
4.6 |
5.8 |
|
and |
398.4 |
399.6 |
1.2 |
1.1 |
42.0 |
5.6 |
5.1 |
10.4 |
|
and |
400.8 |
402.9 |
2.1 |
2.1 |
28.0 |
0.5 |
4.7 |
5.5 |
|
and |
411.5 |
415.1 |
3.7 |
3.5 |
19.8 |
0.0 |
14.0 |
14.4 |
|
Infill |
10936 |
301.4 |
302.4 |
0.9 |
0.9 |
128.0 |
8.7 |
9.7 |
18.9 |
Santa Elena |
|
and |
371.2 |
373.2 |
2.0 |
2.0 |
27.0 |
4.8 |
1.2 |
5.6 |
|
and |
406.1 |
407.4 |
1.2 |
1.2 |
30.0 |
2.8 |
2.8 |
5.6 |
|
and |
409.1 |
436.8 |
27.8 |
25.6 |
27.5 |
2.5 |
7.4 |
9.9 |
|
including |
409.1 |
413.9 |
4.8 |
4.5 |
30.6 |
3.2 |
5.6 |
8.7 |
|
including |
413.9 |
415.7 |
1.8 |
1.7 |
59.0 |
7.4 |
8.6 |
15.6 |
|
including |
415.7 |
418.2 |
2.4 |
2.2 |
13.0 |
1.4 |
2.6 |
4.0 |
|
including |
418.2 |
424.0 |
5.8 |
5.3 |
62.8 |
5.8 |
12.3 |
18.1 |
|
including |
424.0 |
426.7 |
2.7 |
2.5 |
3.9 |
0.1 |
4.9 |
5.1 |
|
including |
426.7 |
429.8 |
3.0 |
2.8 |
23.5 |
1.0 |
12.6 |
13.8 |
|
including |
429.8 |
436.8 |
7.1 |
6.5 |
4.0 |
0.1 |
4.8 |
4.9 |
|
and |
449.6 |
451.2 |
1.6 |
1.5 |
1.0 |
0.0 |
4.9 |
4.9 |
|
Infill |
10942 |
300.8 |
302.6 |
1.8 |
1.6 |
32.0 |
0.1 |
3.9 |
4.5 |
Santa Elena |
|
and |
374.2 |
375.2 |
1.0 |
1.0 |
29.0 |
3.2 |
3.2 |
6.3 |
|
and |
380.4 |
391.7 |
11.3 |
11.0 |
17.1 |
0.8 |
5.0 |
5.9 |
|
including |
380.4 |
382.2 |
1.8 |
1.8 |
52.0 |
4.1 |
6.7 |
10.9 |
|
including |
382.2 |
391.7 |
9.4 |
9.2 |
10.4 |
0.1 |
4.7 |
5.0 |
|
Infill |
10943 |
307.3 |
308.8 |
1.4 |
1.4 |
17.0 |
2.4 |
3.9 |
6.2 |
Santa Elena |
|
and |
401.4 |
402.4 |
1.1 |
1.1 |
7.0 |
0.2 |
8.0 |
8.2 |
|
and |
408.4 |
417.6 |
9.1 |
8.2 |
21.4 |
1.0 |
7.0 |
8.2 |
|
including |
408.4 |
410.0 |
1.5 |
1.4 |
56.0 |
2.8 |
5.1 |
8.3 |
|
including |
410.0 |
411.3 |
1.3 |
1.2 |
37.0 |
0.9 |
0.9 |
2.2 |
|
including |
411.3 |
416.1 |
4.8 |
4.3 |
11.3 |
0.7 |
7.3 |
8.0 |
|
including |
416.1 |
417.6 |
1.5 |
1.4 |
5.0 |
0.1 |
13.5 |
13.6 |
|
and |
433.4 |
434.7 |
1.3 |
1.2 |
13.0 |
1.5 |
2.7 |
4.1 |
|
and |
438.3 |
438.8 |
0.5 |
0.4 |
13.0 |
0.6 |
3.7 |
4.4 |
|
* True Thickness and apparent widths are
estimates. |
** ZnEq. Represents zinc grade together with the lead
and silver grades (zinc equivalent) in terms of zinc using certain
metal price, payable metal, and processing recoveries
assumptions. |
** ZnEq. Assumptions: Prices - Zn$1.13/lb,
Pb$1.00/lb, Ag$18.00/oz; Payable metal - Zn 85%, Pb 95%, Ag 69%,
Processing recoveries - Zn 89%, Pb 74%, Ag 79%. |
Table 2: Drill Hole Information (for
reference)
|
|
|
|
UTM Coordinates |
|
|
|
Area |
Drill Hole Category |
Mine Level (ft) |
DDH No. |
Easting (m) |
Northing (m) |
Elev. (m) |
Azi. |
Incl. |
Length (m) |
Santa Elena |
Definition |
2680 |
10885 |
383,373.1 |
1,642,807.8 |
123.0 |
19 |
-59 |
438.9 |
Victoria |
Exploration |
2790 |
10892 |
384,284.3 |
1,642,147.7 |
108.4 |
149 |
-55 |
179.8 |
Victoria |
Exploration |
2790 |
10900 |
384,285.4 |
1,642,148.3 |
108.4 |
96 |
-59 |
179.8 |
Santa Elena |
Definition |
2680 |
10902 |
383,372.0 |
1,642,807.5 |
123.0 |
359 |
-78 |
346.3 |
Santa Elena |
Definition |
2680 |
10908 |
383,373.2 |
1,642,807.6 |
123.2 |
5 |
-58 |
417.3 |
Deep East |
Exploration |
2790 |
10909 |
384,284.0 |
1,642,149.0 |
108.4 |
6 |
-53 |
220.4 |
Deep East |
Exploration |
2790 |
10912 |
384,283.5 |
1,642,151.0 |
108.4 |
350 |
-39 |
270.4 |
Santa Elena |
Definition |
2680 |
10915 |
383,373.5 |
1,642,807.5 |
123.0 |
28 |
-59 |
442.0 |
Esperanza |
Definition |
2550 |
10916 |
381,747.0 |
1,642,923.6 |
175.1 |
344 |
-60 |
30.5 |
Port Royal |
Definition |
1195 |
10918 |
382,370.5 |
1,642,401.3 |
569.8 |
352 |
-44 |
27.4 |
Santa Elena |
Exploration |
2680 |
10919 |
383,373.2 |
1,642,807.6 |
123.2 |
49 |
-54 |
530.4 |
Port Royal |
Definition |
1195 |
10920 |
382,370.7 |
1,642,400.9 |
569.8 |
351 |
-80 |
24.4 |
Port Royal |
Definition |
1195 |
10921 |
382,371.3 |
1,642,400.7 |
569.8 |
18 |
-50 |
30.5 |
Port Royal |
Definition |
1195 |
10923 |
382,371.4 |
1,642,399.9 |
569.8 |
42 |
-64 |
25.3 |
Port Royal |
Definition |
1195 |
10924 |
382,369.7 |
1,642,401.0 |
569.8 |
327 |
-39 |
25.9 |
Port Royal |
Definition |
1195 |
10925 |
382,367.4 |
1,642,400.8 |
569.9 |
292 |
-34 |
18.3 |
Port Royal |
Definition |
1195 |
10926 |
382,366.4 |
1,642,398.9 |
569.9 |
263 |
-33 |
33.5 |
Port Royal |
Definition |
1195 |
10927 |
382,368.0 |
1,642,400.6 |
569.9 |
290 |
-59 |
18.0 |
Port Royal |
Definition |
1195 |
10928 |
382,370.2 |
1,642,400.4 |
569.8 |
323 |
-71 |
18.9 |
Port Royal |
Definition |
1195 |
10929 |
382,371.1 |
1,642,399.3 |
569.8 |
150 |
-79 |
18.3 |
Port Royal |
Definition |
1195 |
10930 |
382,370.4 |
1,642,402.1 |
571.3 |
356 |
3 |
33.5 |
Port Royal |
Definition |
1195 |
10931 |
382,370.4 |
1,642,402.1 |
572.3 |
356 |
19 |
35.1 |
Port Royal |
Definition |
1195 |
10932 |
382,371.5 |
1,642,401.6 |
571.3 |
19 |
4 |
42.7 |
Port Royal |
Definition |
1195 |
10933 |
382,371.5 |
1,642,401.6 |
572.6 |
19 |
54 |
48.8 |
Port Royal |
Definition |
1195 |
10934 |
382,372.3 |
1,642,400.6 |
571.8 |
47 |
10 |
24.4 |
Port Royal |
Definition |
1195 |
10935 |
382,372.3 |
1,642,400.6 |
572.4 |
44 |
39 |
30.5 |
Santa Elena |
Definition |
2680 |
10936 |
383,373.9 |
1,642,807.3 |
123.0 |
40 |
-62 |
469.4 |
Port Royal |
Definition |
1195 |
10937 |
382,371.4 |
1,642,400.1 |
574.1 |
35 |
71 |
22.9 |
Port Royal |
Definition |
1195 |
10938 |
382,369.3 |
1,642,401.7 |
571.7 |
327 |
10 |
36.6 |
Port Royal |
Definition |
1195 |
10939 |
382,369.3 |
1,642,401.7 |
572.6 |
331 |
30 |
57.9 |
Port Royal |
Definition |
1195 |
10940 |
382,366.9 |
1,642,401.0 |
572.9 |
295 |
44 |
62.5 |
Esperanza |
Exploration |
1814 |
10941 |
381,746.2 |
1,642,900.3 |
407.1 |
10 |
-45 |
435.9 |
Santa Elena |
Definition |
2680 |
10942 |
383,373.2 |
1,642,807.6 |
123.2 |
50 |
-66 |
405.4 |
Santa Elena |
Definition |
2680 |
10943 |
383,373.2 |
1,642,807.6 |
123.2 |
360 |
-59 |
442.0 |
Santa Elena |
Exploration |
2680 |
10945 |
383,373.2 |
1,642,807.6 |
123.2 |
41 |
-56 |
501.4 |
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 30 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 Patrick E. Toth, P.Geo., Director of Exploration and a
Qualified Person as defined by National Instrument 43-101.
About Ascendant Resources
Inc.
Ascendant is a Toronto-based mining company
focused on its 100%-owned producing El Mochito zinc, silver and
lead mine in west-central Honduras, which has been in production
since 1948. After acquiring the mine in December 2016, Ascendant
implemented a rigorous optimization program aimed at restoring the
historic potential of the El Mochito mine. In 2017, the Company
successfully completed the operational turnaround it set out to
achieve with sustained production at record levels and
profitability restored. The Company now remains focused on cost
reduction and further operational improvements to drive robust free
cash flow in 2018 and beyond. Ascendant is also focused on
expanding and upgrading known resources through extensive
exploration work for near-term growth. With a significant land
package of 11,000 hectares and an abundance of historical data
there are several regional targets providing longer term
exploration upside which could lead to further resource growth. The
Company is also engaged in the evaluation of producing and
development stage mineral resource opportunities, on an ongoing
basis. The Company's common shares are principally listed on the
Toronto Stock Exchange under the symbol "ASND". For more
information on Ascendant Resources, please visit our website
at www.ascendantresources.com.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX) accepts responsibility for the adequacy or
accuracy of this release. For further information please
contact:
Katherine PrydeDirector, Communications &
Investor RelationsTel: 888-723-7413info@ascendantresources.com
Forward Looking Information
This news release contains "forward-looking
statements" and "forward-looking information" (collectively,
"forward-looking information") within the meaning of applicable
Canadian securities legislation. All information contained in this
news release, other than statements of current and historical fact,
is forward-looking information. Often, but not always,
forward-looking information can be identified by the use of words
such as "plans", "expects", "budget", "guidance", "scheduled",
"estimates", "forecasts", "strategy", "target", "intends",
"objective", "goal", "understands", "anticipates" and "believes"
(and variations of these or similar words) and statements that
certain actions, events or results "may", "could", "would",
"should", "might" "occur" or "be achieved" or "will be taken" (and
variations of these or similar expressions). Forward-looking
information is also identifiable in statements of currently
occurring matters which may continue in the future, such as
"providing the Company with", "is currently", "allows/allowing
for", "will advance" or "continues to" or other statements that may
be stated in the present tense with future implications. All of the
forward-looking information in this news release is qualified by
this cautionary note.
Forward-looking information in this news release
includes, but is not limited to, statements regarding the potential
for the resource to expand significantly and improve grade at the
mine. Forward-looking information is not, and cannot be, a
guarantee of future results or events. Forward-looking information
is based on, among other things, opinions, assumptions, estimates
and analyses that, while considered reasonable by Ascendant at the
date the forward-looking information is provided, inherently are
subject to significant risks, uncertainties, contingencies and
other factors that may cause actual results and events to be
materially different from those expressed or implied by the
forward-looking information. The material factors or assumptions
that Ascendant identified and were applied by Ascendant in drawing
conclusions or making forecasts or projections set out in the
forward-looking information include, but are not limited to, the
potential for the resource to expand significantly and improve
grade at the mine.
The risks, uncertainties, contingencies and
other factors that may cause actual results to differ materially
from those expressed or implied by the forward-looking information
may include, but are not limited to, risks generally associated
with the mining industry, such as economic factors (including
future commodity prices, currency fluctuations, energy prices and
general cost escalation), uncertainties related to the development
and operation of Ascendant's projects, dependence on key personnel
and employee and union relations, risks related to political or
social unrest or change, rights and title claims, operational risks
and hazards, including unanticipated environmental, industrial and
geological events and developments and the inability to insure
against all risks, failure of plant, equipment, processes,
transportation and other infrastructure to operate as anticipated,
compliance with government and environmental regulations, including
permitting requirements and anti-bribery legislation, volatile
financial markets that may affect Ascendant's ability to obtain
additional financing on acceptable terms, the failure to obtain
required approvals or clearances from government authorities on a
timely basis, uncertainties related to the geology, continuity,
grade and estimates of mineral reserves and resources, and the
potential for variations in grade and recovery rates, uncertain
costs of reclamation activities, tax refunds, hedging transactions,
as well as the risks discussed in Ascendant's most recent Annual
Information Form on file with the Canadian provincial securities
regulatory authorities and available at www.sedar.com.
Should one or more risk, uncertainty,
contingency, or other factor materialize, or should any factor or
assumption prove incorrect, actual results could vary materially
from those expressed or implied in the forward-looking information.
Accordingly, the reader should not place undue reliance on
forward-looking information. Ascendant does not assume any
obligation to update or revise any forward-looking information
after the date of this news release or to explain any material
difference between subsequent actual events and any forward-looking
information, except as required by applicable law.
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