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Ascendant Resources Inc. (ASDRF) is a Toronto-based mining company focused on exploring and developing the Lagoa Salgada VMS project in Portugal. The project, located on the Iberian Pyrite Belt, is a high-grade polymetallic project with mineral endowment including zinc, copper, lead, tin, silver, and gold. Ascendant is currently finalizing amendments to its metals purchase and sale agreement with Sprott Streaming, aiming to increase its deposit against future production and the stream percentage. Additionally, the company has submitted the Environmental Impact Assessment Report for the project, showing its commitment to sustainable practices and carbon neutrality. Ascendant has achieved several milestones, including securing 80% ownership of the project, advancing in its feasibility study, and working on project financing supported by UK Export Finance. The company's focus on optimization, environmental compliance, and operational excellence positions it well for future growth and value creation.
Ascendant Resources Inc. (TSX: ASND, OTCQB: ASDRF) provided an update on its Lagoa Salgada Polymetallic Project in Portugal, expecting to complete a feasibility study by May 2023. Key progress includes substantial completion of metallurgical test work confirming the salability of copper, lead, and zinc concentrates, with final results pending. The company is investigating the potential for a saleable tin concentrate from tailings. The permitting process is ongoing, with recent public meetings showing no major issues. Additionally, Ascendant appointed SD Capital Advisory and GKB Ventures to arrange Export Credit Agency-supported project financing. Both firms have strong track records in securing project finance for mining companies.
Ascendant Resources Inc. has announced key appointments to its executive team, enhancing its focus on the Venda Nova Deposit. Michael McAllister is now Vice President, Investor Relations, bringing 19 years of experience in public mining companies. Chris MacInnis joins as Director, Geology and Resources, with significant expertise in geology and resource estimation. The company is advancing towards a Bankable Feasibility Study for the Venda Nova Deposit, which contains over 10.33 million tonnes of Measured and Indicated Resources. The strategic growth aims to maximize value for shareholders.
Ascendant Resources Inc. has appointed Mr. Clinton Swemmer as Chief Technical Officer. He previously served as Vice President of Technical Services and played a crucial role in the ongoing Feasibility Study for the Venda Nova Deposit in Portugal. The company has also brought in Mr. Erich Meintjes as Director of Engineering, who has over 27 years of experience in mining and project execution. Ascendant is advancing its plans for the Lagoa Salgada project, which contains significant resources and demonstrates strong economic potential. The company aims to maximize shareholder value through focused exploration and development.
Ascendant Resources Inc. announced the commencement of drilling at Anomaly B, a large geophysical target with a potential strike length of 1.3km, as part of its ongoing exploration program at the Lagoa Salgada project in Portugal. The drilling aims to locate additional massive sulphide deposits. Concurrently, drilling at Anomaly D has reached 350m, showing signs of proximity to sulphide mineralization. The company's Executive Chairman expressed optimism about expanding resources and a strong development case expected from the Feasibility Study due in April.
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