Ascendant Resources Approved for EU Sponsored Cutting-Edge Geophysical "Undercover" Program at Its Lagoa Salgada Project

Ascendant Resources, Inc.
6 min read

In This Article:

  • Lagoa Salgada selected to participate in the European Union's UNDERCOVER Project to unlock hidden critical mineral deposits at depth using cutting edge Geophysical techniques

  • UNDERCOVER Project will employ Seismic Reflection and Refraction, Magnetotellurics (MT), Gravity and Magnetic Surveys, Electromagnetic (EM) Surveys, and Joint Inversion Techniques to delineate potential deposits of critical minerals at depth

  • The two-year program is fully funded by the EU under its Horizon Program and is expected to commence in Q1 2025

TORONTO, ON / ACCESSWIRE / September 30, 2024 / Ascendant Resources Inc. (TSX:ASND), through its Portuguese subsidiary, Redcorp Empreendimentos Mineiros Lda is pleased to announce its award of EU funding through its participation in the UNDERCOVER project. The project aims to advance mineral exploration by applying state-of-the-art geophysical technologies to uncover hidden mineral deposits at significant depths. One of the key focus areas for this innovative project is Ascendant's flagship Lagoa Salgada Project, located on Portugal's Iberian Pyrite Belt.

The project seeks to transform how critical raw material deposits are discovered by integrating advanced geophysical techniques. The application of these methods will allow Ascendant to explore deeper and more complex mineral systems, particularly at Lagoa Salgada, which holds significant potential for zinc, copper, lead, tin, silver, and gold. A preliminary program has been defined as part of the application; however, this is to be refined by a panel of experts during October, 2024 to determine any change in scale and scope. The UNDERCOVER project is scheduled to run over 36 months, beginning in early 2025. Within the first two years, exploration efforts will focus on key study sites, including Lagoa Salgada, with results expected to guide future development and expansion of the project.

Mark Brennan, Executive Chairman of Ascendant, commented: "We are pleased to participate in this EU funded critical minerals exploration initiative. The UNDERCOVER project is an exciting initiative, and along with our recently announced AI partnership with the University of Evora, demonstrates our commitment to innovation using cutting edge technology to unlock the vast exploration potential we see at our Lagoa Salgada project. We look forward to defining the initial program in the coming months and starting works onsite early next year. "

The involvement of Ascendant Resources, through Redcorp, in the UNDERCOVER project should provide substantial benefits to the Lagoa Salgada project. These geophysical technics are targeted for the discovery of deeper ore bodies which conventional exploration methods may not detect. These new geophysical approaches should greatly improve the efficiency of future exploration at Lagoa Salgada, reducing the amount of exploration drilling required and increasing the likelihood of success. Additionally, the project will include environmental monitoring such as water management, ensuring that Lagoa Salgada's exploration aligns with sustainable mining practices.

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