MAFL Resource Upgrade25 Jan 2019 13:04
Resource based on 22 hole programme, with a further 22 hole programme from September -December 2018 which will be added anytime. -)
A January 2018 Technical Report on the Project, prepared in accordance with National Instrument 43-101 - Standards for Disclosure for Mineral Projects ("NI 43-101"), has been updated. It now defines a preliminary Indicated Mineral Resource Estimate of 5.84 million tonnes grading 8.88% Zinc Equivalent (ZnEq and) an Inferred Mineral Resources of 2.01 million tonnes grading 7.82% ZnEq, at a 3.5% ZnEq cut-off grade, at the LS-1 deposit with an additional Inferred Mineral Resource of 2.22 million tonnes grading 4.80% ZnEq, at a 3.5% ZnEq cut-off grade, outlined at the LS-1 Central deposit. Only 22 drill holes compose this Mineral Resource Estimate and both deposits remain open in multiple directions giving Ascendant confidence in the ability to rapidly expand the resource with a modest drill program over the next 12-month period. (Refer to Tables 1 and 2 below). In Ascendant's opinion, Lagoa Salgada represents a potentially high-grade, polymetallic zinc-lead-copper exploration opportunity in a low risk, established and prolific jurisdiction. The Project covers 10,700 hectares with 17 gravimetric targets identified, with only the LS-1 and LS-1 Central zone having been significantly tested.