Ascendant Resources Inc (TSE:ASND) (OTCMKTS:ASDRF) (FRA:2D9) said it had kicked off a second phase of drilling at the south zone at its Lagoa Salgada project in Portugal, in a bid to upgrade the resources there.
The work consists of 1,400 metres (m) of drilling and downhole IP surveys and is aimed at building on the success of the first phase drilling.
READ: Ascendant Resources seeing strong mineralization across wide intercepts at Lagoa Salgada VMS project in Portugal
"We are excited to continue our exploration activities in the South Zone where we hope to significantly grow copper and copper equivalent tonnage and grade," said Chris Buncic, the CEO of Ascendant in a statement.
"The results of Phase 1 drilling in the South Zone suggests that we are approaching a more intense system of stockwork and massive sulfide mineralization, which was also predicted by our geophysics program.
"The Phase 2 program should advance us a long way along the path of growing this copper-rich resource.”
Already delineated in the south zone is 2.47 million tonnes (Mt) of Measured and Indicated (M&I) resource and 6.09 Mt of inferred.
As reported earlier this month, highlights from the first three holes in the first phase of drilling, included 25.2m grading 2.2% copper equivalent (0.6% copper, 2% zinc, 1.4% lead, and 26.5 g/t silver).
Lagoa Salgada project sits on the Iberian Pyrite Belt and houses a VMS deposit that contains over 12.8 Mt of measured and indicated resources and over 10.3 Mt in inferred resources of copper, zinc, lead, silver and gold.
Contact the author at giles@proactiveinvestors.com