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Ascendant Resources Reports 12.6 Metres at 12.2% ZnEq Including 735.2 g/t Ag as It Continues to Expand High-Grade Mineral Resources Through Drilling at El Mochito

TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (ASND.TO) (OTCQX: ASDRF; FRA: 2D9) ("Ascendant" or the "Company”) is pleased to announce results from an additional 54 diamond drill holes (10,410 metres) from its 2018 exploration and definition drilling program at its El Mochito mine in Honduras. The drilling was split between step-out (64%) and in-fill (36%) drill holes and targeted the following eight areas located mainly in the eastern portion of the mine; Port Royal Manto, Santa Barbara, Santa Elena, Porvenir, Palmar Dyke, Nueva Este, Victoria and San Juan (See Figure 1 and Tables 1 & 2 below). These results continue to support the Company’s goal of adding additional Mineral Resources by expanding higher-grade deposits at El Mochito. 

Key highlights (true/apparent widths1) include:

Step-out Drilling

  • DDH 11008 – 2.2m at 31.0% ZnEq1, 16.8% Zn, 12.2% Pb and 257 g/t Ag (Santa Elena)
  • DDH 11026 – 5.4m at 9.05 ZnEq, 8.5% Zn, 0.3% Pb and 16 g/t Ag (Porvenir)
  • DDH 11049 – 2.9m at 16.5% ZnEq, 11.3% Zn, 5.1% Pb and 61.1 g/t Ag (Porvenir)
  • DDH 10973 – 2.6m at 14.3% ZnEq, 13.8% Zn, 0.3% Pb and 13.9 g/t Ag (Victoria)

Infill Drilling

  • DDH 11031 – 6.0m at 12.4% ZnEq, 6.2% Zn, 6.0% Pb and 70.5 g/t Ag (Santa Barbara)
  • DDH 11065 – 12.6m at 12.2% ZnEq, 5.9% Zn, 5.1% Pb and 735.2 g/t Ag (Palmar Dyke)
  • DDH 11053 – 18.7m at 15.9% ZnEq, 9.2% Zn, 4.4% Pb and 196.2 g/t Ag (Nueva Este)
  • DDH 11058 – 19.5m at 10.4% ZnEq, 3.9% Zn, 3.3% Pb and 237.4 g/t Ag (Nueva Este)

Infill drilling at the Nueva Este orebody continues to deliver high-grade results over substantial adjusted widths, with drilling to date indicating the deposit continues to the southeast. The Santa Elena orebody forms part of the El Mochito production plan in 2019 and beyond with step-out drilling continuing to also indicate an eastern extension of the deposit. The Santa Barbara and Porvenir orebodies form part of the current Inferred Mineral Resource Estimate, and this drilling further adds in their delineation into Measured and Indicated categories. Results for the drilling in the Palmar Dyke area continues to demonstrate the high-grade nature of these deposits. The Palmar Dyke, Nueva Este and Santa Elena zones all returned significant silver assays, indicating the stronger silver mineralization of these deposits as they extend further past the current mining infrastructure. All deposits remain open along strike and at depth.

1 Please refer to tables for true/apparent widths which are estimated from actual drilled lengths.

Chris Buncic, President and CEO of Ascendant, commented: “We are extremely pleased with these results as they further support the Company’s view that there is strong potential for substantial Mineral Resource growth along strike of the known resources within the eastern portion of the mine. This reinforces the Company’s strategic view regarding the expansion and optimization plans laid out in the recently released Preliminary Economic Assessment, which envisions the installation of a subvertical shaft aimed at opening up the eastern portion of the mine.

He continued, “The Company is now well advanced on its 2018 exploration program at El Mochito having so far drilled 26,679 metres, of which 63% is step-out and 27% in-fill. Results continue to deliver high-grade intercepts, well above the current Mineral Resource grade, supporting the Company’s goal of upgrading Mineral Resources and subsequently further extending the mine life of El Mochito. Over its 70 year history, El Mochito has consistently demonstrated a high level of Mineral Resource conversion, making management confident it will be able to deliver further meaningful growth in the future.”

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3a11c9b8-e74c-49e7-a1f6-cb7f606f0131

Table 1: Significant Assays

...
Drill Hole Category DDH No. From (m) To (m) Length (m) True / Apparent Width (m)* Ag (g/t) Pb (%) Zn (%) ZnEq (%)** Area
Step Out 11003 296.7 298.9 2.2 2.2 20.0 0.5 3.6 4.3 Santa Elena
Step Out 11008 280.4 282.4 2.0 1.9 18.0 1.7 3.4 5.1 Santa Elena
Step Out 11011 269.7 272.0 2.3 2.2 257.0 12.2 16.8 31.0 Santa Elena
and 274.3 276.1 1.8 1.8 32.7 2.9 4.3 7.2
including 274.3 275.5 1.2 1.2 18.0 1.1 1.8 3.0
including 275.5 276.1 0.6 0.6 62.0 6.4 9.2 15.6
Step Out 11016 692.7 694.6 1.9 1.7 32.0 2.5 3.1 5.7 Santa Elena
and 699.5 702.6 3.0 2.6 96.5 0.3 3.1 4.9
including 699.5 701.0 1.5 1.3 44.0 0.1 2.9 3.7
including 701.0 702.6 1.5 1.3 149.0 0.5 3.3 6.0
Step Out 11025 482.5 483.5 1.0 0.9 55.0 3.0 3.3 6.7 Santa Elena
and 542.0 545.6 3.6 2.9 38.7 1.5 8.9 10.8
including 542.0 544.1 2.0 1.7 34.0 0.9 11.6 12.9
including 544.1 545.6 1.5 1.2 45.0 2.4 5.2 7.9
Step Out 11039 No Significant Intercepts Santa Elena
Step Out 11044 341.4 342.9 1.5 1.5 55.0 5.3 6.0 11.4 Santa Elena
and 580.6 581.9 1.2 1.2 103.0 2.7 6.9 10.8
and 588.1 591.3 3.2 2.8 28.6 1.1 3.2 4.6
including 588.1 590.1 2.0 1.8 29.0 1.5 3.6 5.3
including 590.1 591.3 1.2 1.1 28.0 0.5 2.7 3.5
Step Out 11056 No Significant Intercepts Santa Elena
Step Out 11063 433.7 435.6 1.8 1.7 29.0 2.3 3.1 5.5 Santa Elena
Step Out 11026 234.8 236.9 2.1 1.7 31.0 1.5 2.5 4.3 Porvenir
and 284.0 292.6 8.6 5.4 16.3 0.3 8.5 9.0
including 284.0 286.2 2.2 1.4 11.0 0.3 10.7 11.1
including 286.2 288.0 1.8 1.1 6.0 0.1 2.3 2.5
including 288.0 289.6 1.5 1.0 19.0 0.3 6.9 7.5
including 289.6 292.6 3.0 1.9 25.0 0.3 11.4 12.0
Step Out 11032 249.0 253.0 4.0 4.0 201.0 1.6 3.6 8.1 Porvenir
Step Out 11049 268.1 272.3 4.3 2.9 61.1 5.1 11.3 16.5 Porvenir
including 268.1 270.4 2.3 1.6 95.0 8.7 14.1 22.8
including 270.4 272.3 2.0 1.4 22.0 0.9 8.1 9.2
Step Out 11055 325.5 327.0 1.5 1.1 60.0 3.7 4.2 8.2 Porvenir
and 383.4 387.7 4.3 2.5 15.1 0.9 3.3 4.3
including 383.4 385.3 1.8 1.1 18.0 0.4 5.1 5.7
including 385.3 386.1 0.8 0.5 1.0 0.0 0.0 0.0
including 386.1 387.7 1.6 1.0 19.0 2.0 3.0 5.0
and 393.7 395.6 1.9 1.3 22.0 1.8 2.8 4.6
Step Out 11061 324.0 325.5 1.5 1.1 27.0 2.0 2.9 5.0 Porvenir
and 333.1 334.7 1.6 1.2 44.0 1.4 5.0 6.9
Step Out 11001 35.1 41.3 6.2 6.0 26.6 2.4 3.2 5.6 Victoria
including 35.1 36.6 1.5 1.5 23.0 1.7 2.2 4.0
including 36.6 38.7 2.1 2.1 26.0 3.1 4.3 7.2
including 38.7 41.3 2.6 2.5 29.2 2.2 2.8 5.2
and 185.3 186.5 1.2 1.1 41.0 1.9 2.5 4.7
and 190.5 192.5 2.0 1.9 21.0 1.5 3.1 4.7
and 202.8 205.7 2.9 2.8 63.1 0.9 5.8 7.6
and 210.3 213.1 2.7 2.6 13.9 0.3 13.8 14.3
including 210.3 211.8 1.5 1.4 17.0 0.4 17.1 17.7
including 211.8 213.1 1.2 1.2 10.0 0.2 9.6 9.9
and 221.0 225.9 4.9 4.2 40.3 1.0 4.0 5.5
including 221.0 222.5 1.5 1.3 38.0 1.3 2.0 3.6
including 222.5 224.0 1.5 1.3 62.0 1.4 7.0 9.2
including 224.0 225.9 1.8 1.6 24.0 0.5 3.1 3.9
Step Out 11007 No Significant Intercepts Victoria
Step Out 11062 51.3 57.2 5.9 5.4 74.7 1.1 3.9 5.9 San Juan
including 51.3 53.3 2.0 1.9 58.0 0.3 3.1 4.3
including 53.3 57.2 3.8 3.5 83.6 1.5 4.3 6.8
and 67.7 71.6 4.0 3.4 182.3 1.1 2.4 6.2
including 67.7 69.8 2.1 1.9 114.0 0.4 1.9 4.1
including 69.8 71.6 1.8 1.6 262.0 2.0 3.0 8.7
Infill 11004 No Significant Intercepts Port Royal Manto
Infill 11019 No Significant Intercepts Port Royal Manto
Infill 11021 64.2 66.4 2.3 1.9 18.9 0.1 9.3 9.6 Port Royal Manto
including 64.2 65.2 1.1 0.9 5.0 0.0 3.1 3.1
including 65.2 66.4 1.2 1.0 31.0 0.1 14.7 15.3
and 69.8 79.6 9.8 6.7 30.5 0.3 7.9 8.6
including 69.8 71.6 1.8 1.3 18.0 0.1 7.3 7.6
including 71.6 73.2 1.5 1.0 5.0 0.1 2.3 2.5
including 73.2 74.7 1.5 1.0 32.0 0.1 12.4 13.0
including 74.7 76.2 1.5 1.0 24.0 0.3 6.3 6.9
including 76.2 79.6 3.4 2.3 51.2 0.6 9.4 10.7
Infill 11022 No Significant Intercepts Port Royal Manto
Infill 11024 22.3 24.1 1.9 1.2 71.0 4.9 3.1 8.4 Port Royal Manto
and 126.8 128.9 2.1 1.1 35.0 2.2 3.9 6.2
Infill 11027 50.7 52.7 2.1 1.6 39.0 3.5 4.3 7.8 Santa Barbara
and 56.1 57.9 1.8 1.3 30.0 0.7 3.3 4.4
Infill 11028 32.0 33.5 1.5 1.5 20.0 2.1 3.7 5.7 Santa Barbara
and 47.4 48.8 1.4 1.3 25.0 1.7 4.2 6.1
Infill 11030 50.9 52.9 2.0 1.6 53.0 4.3 5.2 9.6 Santa Barbara
and 57.5 59.1 1.7 1.4 23.0 2.2 3.0 5.2
and 71.1 75.1 4.0 3.0 28.9 1.3 3.6 5.2
including 71.1 73.2 2.0 1.6 43.0 2.2 4.2 6.7
including 73.2 75.1 1.9 1.5 14.0 0.3 3.1 3.5
Infill 11031 32.0 33.5 1.5 1.5 35.0 1.0 2.9 4.3 Santa Barbara
and 39.2 45.7 6.6 6.0 70.5 6.0 6.2 12.4
including 39.2 40.8 1.7 1.5 141.0 7.8 8.9 17.6
including 40.8 45.7 4.9 4.5 46.3 5.4 5.3 10.5
Infill 11034 26.0 28.2 2.2 2.0 35.0 1.1 5.0 6.4 Santa Barbara
and 31.3 34.0 2.7 2.4 59.7 4.6 5.8 10.6
including 31.3 32.5 1.2 1.0 98.0 7.7 9.8 17.8
including 32.5 34.0 1.5 1.3 30.0 2.2 2.8 5.0
and 40.5 43.0 2.5 2.1 20.3 0.9 3.0 4.0
Infill 11036 36.0 38.1 2.1 1.7 24.0 2.0 3.0 5.0 Santa Barbara
and 41.4 42.5 1.1 0.8 37.0 1.8 2.1 4.2
Infill 11038 19.5 20.9 1.4 1.4 41.0 4.6 5.4 9.9 Santa Barbara
Infill 11040 22.1 24.4 2.3 1.7 20.0 2.1 2.0 4.1 Santa Barbara
and 33.9 36.6 2.7 2.4 5.4 0.2 3.8 4.1
Infill 11042 27.7 36.3 8.5 8.0 46.0 2.8 6.4 9.5 Santa Barbara
including 27.7 29.6 1.8 1.7 47.0 1.0 4.3 5.9
including 29.6 31.1 1.5 1.4 6.0 0.2 0.7 1.0
including 31.1 32.9 1.8 1.7 37.0 4.8 2.7 7.3
including 32.9 34.1 1.2 1.1 152.0 10.3 12.8 23.8
including 34.1 36.3 2.1 2.0 21.0 0.3 11.8 12.4
Infill 11043 68.0 71.3 3.4 2.3 41.9 2.8 10.6 13.6 Santa Barbara
including 68.0 69.2 1.2 0.8 26.0 2.5 6.4 9.0
including 69.2 71.3 2.1 1.5 51.0 3.0 13.0 16.3
Infill 11045 41.8 45.7 4.0 3.8 40.9 4.1 6.3 10.3 Santa Barbara
including 41.8 44.2 2.4 2.3 34.0 3.9 5.0 8.8
including 44.2 45.7 1.5 1.5 52.0 4.4 8.4 12.9
and 52.7 54.7 2.0 1.7 91.0 5.0 8.4 14.0
Infill 11047 28.7 38.7 10.1 9.3 53.4 1.5 6.8 8.9 Santa Barbara
including 28.7 35.1 6.4 5.9 53.0 1.6 5.3 7.4
including 35.1 36.6 1.5 1.4 88.0 2.7 14.0 17.7
including 36.6 38.7 2.1 2.0 30.0 0.4 6.2 7.0
Infill 11048 32.9 36.3 3.4 2.8 49.6 2.6 4.7 7.7 Santa Barbara
including 32.9 34.1 1.3 1.1 19.0 2.0 2.0 4.0
including 34.1 36.3 2.1 1.8 68.0 3.0 6.3 9.9
and 41.1 45.7 4.6 3.2 44.7 1.3 3.7 5.5
Infill 11051 39.6 41.1 1.5 1.3 46.0 4.7 6.3 11.0 Santa Barbara
Infill 11054 94.9 96.0 1.1 0.6 49.0 4.5 5.4 9.9 Santa Barbara
and 102.1 106.4 4.3 2.0 14.0 0.0 4.9 5.2
and 111.3 114.3 3.0 2.3 10.0 0.1 5.4 5.6
and 121.9 129.7 7.8 4.5 19.9 0.4 5.4 6.1
including 121.9 123.1 1.2 0.7 51.0 0.4 15.4 16.5
including 123.1 126.5 3.4 1.9 5.8 0.1 2.1 2.2
including 126.5 129.7 3.2 1.8 22.8 0.8 5.2 6.1
and 139.8 141.6 1.9 1.1 32.0 2.0 2.7 4.9
and 145.7 147.5 1.8 1.3 24.0 0.9 3.0 4.1
Infill 11057 44.0 45.7 1.7 1.2 30.0 2.0 5.7 7.8 Santa Barbara
Infill 11059 60.1 63.1 3.0 3.0 63.1 5.0 7.7 12.9 Santa Barbara
including 60.1 61.7 1.6 1.6 30.0 2.4 4.5 7.0
including 61.7 63.1 1.4 1.4 102.0 8.0 11.5 19.8
and 68.9 71.3 2.4 1.6 134.8 2.5 6.7 10.9
including 68.9 70.4 1.5 1.0 191.0 1.8 8.3 12.7
including 70.4 71.3 0.9 0.6 41.0 3.6 4.2 7.9
Infill 11035 308.8 309.7 0.9 0.9 7.0 0.0 4.3 4.4 Santa Elena
Infill 11050 36.3 40.8 4.5 4.5 56.6 0.7 9.1 10.6 Palmar Dyke
including 36.3 38.1 1.8 1.8 97.0 0.9 2.8 5.0
including 38.1 39.7 1.6 1.6 12.0 0.1 2.8 3.1
including 39.7 40.8 1.1 1.1 55.0 1.4 29.5 31.6
and 46.7 57.2 10.4 10.4 115.2 4.8 4.6 10.4
including 46.7 47.9 1.1 1.1 45.0 2.1 3.1 5.5
including 47.9 49.2 1.4 1.4 13.0 0.7 0.7 1.5
including 49.2 51.8 2.5 2.5 154.0 8.0 9.6 18.7
including 51.8 56.4 4.7 4.7 41.6 1.5 1.3 3.3
including 56.4 57.2 0.7 0.7 781.0 27.2 18.0 53.1
Infill 11052 36.5 37.4 0.9 0.9 289.0 4.7 7.5 16.0 Palmar Dyke
and 40.0 41.1 1.1 1.1 204.0 0.9 0.9 4.8
and 42.7 51.3 8.7 8.7 100.1 4.7 6.7 12.2
including 42.7 44.5 1.8 1.8 59.0 2.3