Ascendant Resources Inc. (TSXV:ASND) reported high-grade results from 29 drill holes completed from its 33,200m 2017 underground exploration aimed
to upgrade and expand resources at its El Mochito mine in Honduras. Results focused on the extensions of Palmer Dyke, Santa Elena, Victoria and Esperanza,
of which Esperanza is currently being mined, while the others are near current operations and the company suggests could be placed into production
within 6-12 months (Figure 1). Highlights include, 5.3% Zn, 3.8% Pb and 83 g/t Ag over 17.6m (step-out Hole 10846) and 6.2% Zn, 2.2% Pb and 41 g/t
Ag over 17.5m (infill Hole 10847 – Esperanza). Importantly an exploration program of this size is the first in many years at the mine. We view these
results positively as it points to the possibility for a longer mine life, with more results pending. We continue to believe a progressive re-rating
is likely over the year as the company executes on its ongoing optimization program and reports on exploration results. Q2 operating results (anticipated
in early July) are likely to be the next catalyst for the company.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
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Ascendant Resources Inc. - TSXV:ASND - 2,4
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