Ascendant Resources Identifies New Exploration Targets Through High-Resolution Gravity Survey at Lagoa Salgada, Portugal

Ascendant Resources Inc. recently announced promising results from a high-resolution gravity study carried out on the Venda Nova North and South deposits, part of the VMS Lagoa Salgada project in Portugal. This analysis revealed the existence of four new priority targets near existing deposits, offering potential for significant expansion of massive sulphide mineralization.

The highest priority target lies below and to the west of the high-grade North deposit, while a second target lies above the known copper corridor in the South deposit. These discoveries reinforce the opportunity to rapidly increase the known mineralization at Venda Nova, potentially improving the economic outcomes projected by the recent feasibility study.

The extension granted to the Portuguese agency EDM until September 30, 2024 to acquire a 15% stake in the project underlines the impact of the upcoming elections and governmental change in Portugal. However, this extension reflects mutual trust and interest in the development of the Lagoa Salgada project, located on the fertile Iberian pyrite belt.

The planned drilling program seeks to fully assess this potential in the future. At the same time, the results of the study reinforce the validity of the use of this technology for the generation of additional exploration targets, explaining Ascendant's commitment to optimize and expand its mineral resources. The collaboration with EDM and further developments could significantly influence the overall economics of the project.