Ascendant Resources Inc. (TSX: ASND) (OTCQX: ASDRF) (FRA: 2D9) 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

Table 2: Collar Table

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 40 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.

Qualified Persons

The scientific and technical information in this press release has been reviewed and approved by Patrick E. Toth, P.Geo., Director Exploration to Ascendant 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 flagship 100%-owned producing El Mochito zinc, lead and silver mine in west-central Honduras, which has been in production since 1948. After acquiring the mine in December 2016, Ascendant spent 2017 implementing a rigorous and successful optimization program restoring the historic potential of El Mochito delivering record levels of production with profitability restored. The Company now remains focused on cost reduction and further operational improvements to drive robust profitability in 2018 and beyond. Expanding and upgrading El Mochito’s significant Mineral Resources through exploration work for near-mine growth is an ongoing focus for the Company. With a significant land package of 11,000 hectares in Honduras and an abundance of historical data, there are several regional targets providing longer term exploration upside which could lead to further resource growth.

Ascendant also holds an interest in the high-grade polymetallic Lagoa Salgada VMS Project located in the prolific Iberian Pyrite Belt in Portugal. The Company is engaged in exploration of the Project with the goal of expanding already substantial defined Mineral Resources and testing additional known targets. The Company’s acquisition of its interest in the Lagoa Salgada Project offers a low-cost entry point to a potentially significant exploration and development opportunity. The Company holds an additional option to increase their interest in the Project upon completion of certain milestones.

Ascendant Resources is engaged in the ongoing evaluation of producing and development stage mineral resource opportunities, on an ongoing basis.