Ascendant Resources Inc. (TSX: ASND) (OTCQX: ASDRF; FRA: 2D9) (“Ascendant” or the “Company”) is pleased to announce its wholly owned subsidiary, American Pacific Honduras S.A. de C.V (“AMPAC”) closed a US$5 million short-term revolving credit facility (the “credit facility”) with Banco Financiera Comercial Hondurena S.A. (“Ficohsa”) based out of Tegucigalpa, Honduras.
- Low-cost entry to a significant high-grade VMS polymetallic deposit within reach of mineable scale in the Iberian Pyrite Belt along trend from the transformational Neves Corvo (Lundin) and Aguas Tenidas (Trafigura) mines and Aljustrel (private)
- NI 43-101 Indicated Resource of 5.8 million tonnes at 8.88% ZnEq and 2.0 million tonnes of Inferred Resources at 7.82% ZnEq at the LS-1 Deposit and 2.2 million tonnes at 4.80% ZnEq at the LS-1 Central Deposit (see below)
- Immediately accretive to Ascendant’s ZnEq metal exposure with significant and rapid expansion anticipated through the commencement of a low-cost drill program
- Exemplifies Ascendant’s ability to identify unique high-impact mineral opportunities
TORONTO, Aug. 01, 2018 (GLOBE NEWSWIRE) — Ascendant Resources Inc. (TSX: ASND) (OTCQX: ASDRF; FRA: 2D9) (“Ascendant” or the “Company”) is pleased to announce that it has acquired from TH Crestgate GMBH (“Crestgate”) a 25% interest in Redcorp – Empreendimentos Mineiros, Lda, (“Redcorp”), which holds an 85% interest in the polymetallic Lagoa Salgada volcanic massive sulphide (“VMS”) Project ( “Lagoa” of the “Project”) located within the prolific Iberian Pyrite Belt in Portugal and has an additional option to earn up to an 80% interest in Redcorp upon completion of the milestones highlighted below.
Ascendant Resources Inc. (TSX:ASND) (OTCQX:ASDRF) (FRA:2D9) (“Ascendant” or the “Company”) is pleased to announce results from 40 diamond drill holes (12,015 metres) as part of the 2018 exploration and definition drilling program at its El Mochito mine in Honduras. These results come after the release of the Company’s newly reported Mineral Resources and Reserves Estimate and National Instrument 43-101 Technical Report (see press release dated May 28th, 2018), which almost tripled contained zinc in Mineral Reserves and extended its life of mine to more than 7 years. The drilling is split between step-out (66%) and in-fill (34%) drill holes, and targets extensions of four ore bodies, namely Porvenir, Santa Elena, Port Royal Manto and Esperanza (See Figure 1 and Tables 1 & 2 below). These results continue to support the Company’s goals of increasing tonnage for further Mineral Reserve and Resource growth and identifying higher-grade ore at El Mochito that can quickly be brought into the mine plan.
Record contained metal production of 21.4 million ZnEq lbs, an increase of 9% over Q4 2017 and 57% over Q1 2017
•ZnEq grade of 6.1%, representing an increase of 15% over 5.3% ZnEq in Q4 2017 and 9% over Q1 2017
•Cash balance of US$13.1 million at March 31, 2018 vs US$8.0 million at year end 2017
•Quarterly tonnes milled of 186,955 vs 198,354 tonnes in Q4 2017 and 131,116 in Q1 2017
TORONTO, April 10, 2018 (GLOBE NEWSWIRE) — Ascendant Resources Inc. (TSX:ASND) (OTCQX:ASDRF) (FRA:2D9) (“Ascendant” or the “Company”) is very pleased to report the results of an updated Mineral Resource & Reserve Estimate for its El Mochito mine in Honduras prepared in accordance with National Instrument 43-101 and the CIM Standards. The new Estimate shows a material increase in both Mineral Resources and Reserves against the previous Mineral Resource and Reserve Estimates dated December 31, 2015, underscoring the mine’s long history of expanding and upgrading Mineral Resources. Highlights include the following:
For Ascendant Resources (T.ASND) , 2017 was an extremely successful turnaround year. The Company’s El Mochito zinc, lead and silver mine located in Honduras has been in continuous operations for 70 years but, over the course of recent years, suffered from underinvestment and some neglect from its previous operator. With its recently released 2017 full year production results and 2018 guidance, it is now clear Ascendant is well positioned to build on the strong operational successes of 2017 with tremendous long-term opportunity remaining at El Mochito yet to be fully harnessed.