Ascendant drills 58 m of 0.97 Cu nd 0.024% Mo
Ascendant Copper Corp (C:ACX)
Shares Issued 70,790,574
Last Close 12/5/2007 $0.19
Thursday December 06 2007 - News Release
Mr. Rana Gill reports
ASCENDANT COPPER INTERSECTS SIGNIFICANT COPPER AND MOLYBDENUM MINERALIZATION AT CHAUCHA PROJECT IN ECUADOR
Ascendant Copper Corp. has provided an update on its phase III, 16-hole, 5,000-metre drilling program at the company's wholly owned Chaucha project in west-central Ecuador. Assays from the first four holes have returned significant mineralized zones from near surface to depth including a 58-metre section of 0.97 per cent copper and 0.024 per cent molybdenum on hole NA-19, an 84-metre section of 0.80 per cent Cu 0.013 per cent Mo on hole NA-20, and a 112-metre section of 0.59 per cent Cu and 0.023 per cent Mo on hole NA-22.
"The goal of this program is to move the known mineralization into internationally recognized, modern inferred and indicated resource categories," said Gary Davis, president and chief executive officer. "We believe, based on historic drilling by previous owners and our own work in 2006 and 2007, that this program will demonstrate a significant resource in the Naranjos zone alone."
The program is designed to determine the extent of mineralization on the Naranjos zone and to achieve sufficient drill density to establish a National Instrument 43-101, Standards of Disclosure for Mineral Projects, compliant resource. Ascendant expects that a prefeasibility study, incorporating both the Naranjos and Gur Gur sectors of Chaucha, will commence following completion of the program.
Drill holes NA-19, 20, and 21 were all drilled from the same drill pad at the NE extension of the Naranjos sector. NA-19 was drilled vertically and encountered 168 metres of 0.52 per cent Cu and 0.023 per cent Mo. NA-20 was angled to the northwest into an area previously unexplored and encountered 184 metres of 0.56 per cent Cu and 0.014 per cent Mo. NA-21 was angled to the southeast to verify structural information and intersected 216 metres of 0.42 per cent Cu and 0.016 per cent Mo. NA-22 was drilled on a separate pad and returned preliminary results of 250 metres (0 to 250 metres) of 0.46 per cent Cu and 0.021 per cent Mo. All of the holes encountered zones which assayed over the laboratory limit of 1 per cent copper. A maximum value of 1 per cent copper was used for these samples potentially skewing results slightly lower.
Hole NA-22 was a twin of hole 83T drilled by the Japanese Overseas Mineral Resource Development Corp. (OMRD), and over similar intervals (18 to 202 metres) Hole NA-22 returned 0.50 per cent Cu versus 0.046 per cent Cu for OMRD's Hole 83T over a distance of 184 metres. This is in line with other twinned holes on the property which show similar increases in copper grades of approximately 10 per cent.
James Stonehouse, the company's resident manager and technical expert as well as a qualified person as defined by National Instrument 43-101, has reviewed the assay results reported in this release. Mr. Stonehouse confirms that quality controls and correct assay procedures were followed by the company and the geologic observations of the samples are correct. Assaying of the samples was conducted by Acme Labs, an ISO-certified laboratory in Vancouver, B.C., Canada.
ASCENDANT COPPER CORPORATION, CHAUCHA PROPERTY
FIGURE 1 NARANJOS DRILL RESULTS
PRELIMINARY RESULTS- NARANJOS ZONE, CHAUCHA
NA-19 From To Metres Cu Mo
m m m % %
38 290 252 0.47 0.024
Including 38 206 168 0.52 0.023
Including 70 128 58 0.97 0.024
NA-20 From To Metres Cu Mo
m m m % %
56 240 184 0.56 0.014
Including 56 140 84 0.80 0.013
NA-21 From To Metres Cu Mo
m m m % %
34 302(i) 268 0.39 0.016
Including 34 250 216 0.42 0.016
(i) Hole NA-21 ends in mineralization.
NA-22 From To Metres Cu Mo
m m m % %
0 250 250 0.46 0.021
Including 18 56 38 0.76 0.021
Including 18 130 112 0.59 0.023
Including 18 168 150 0.53 0.022
© 2007 Canjex Publishing Ltd.
