ASCENDANT RES INC ORD - ASDRF STOCK NEWS

Ascendant Resources Inc. (OTCQB: ASDRF) has partnered with Synergy Enterprises to create a decarbonization strategy for its Lagoa Salgada project in Portugal. This initiative marks Ascendant's first step towards carbon neutrality, focusing on emission reduction from current exploration activities and future operations. Synergy will model emissions and develop achievable GHG targets, emphasizing the use of electric mining equipment and the potential introduction of a solar plant. The feasibility study, set for completion in Q1 2023, aims to minimize environmental impacts while maximizing shareholder value on the Iberian Pyrite Belt.

Ascendant Resources Inc. (OTCQB: ASDRF) has initiated its first greenfield exploration drilling at the Lagoa Salgada property in Portugal. The program will drill 5,000 meters targeting two undrilled electromagnetic anomalies, Anomaly D and Anomaly B. Drilling at Anomaly D, deemed a potential replica of the North Zone, has begun, reaching approximately 28 meters in depth. The North Zone is a significant resource, with an NPV of $246.7 million. Ascendant aims to uncover additional mineralization clusters in the area, enhancing the project's value. Drilling at Anomaly B is expected to follow later this quarter.

Ascendant Resources Inc. (OTCQB: ASDRF) has announced its completion of financial obligations to increase its stake in the Lagoa Salgada VMS project from 50% to 80%. A final payment of US$2.5 million was made to Mineral & Financial Investment AG. The feasibility study, crucial for the stake increase, is expected to finish by Q1 2023. The Lagoa Salgada project, located in Portugal, boasts over 10.33 million tonnes of zinc equivalent resources and significant exploration potential, benefiting from proximity to Lisbon and robust infrastructure.

Ascendant Resources has announced the completion of its metallurgical drill program at the North Zone of the Venda Nova Project in Portugal. Recent assays revealed high-grade intercepts, including 58 meters at 20.51% Zinc Equivalent and 14 meters at 2.34% Copper. A total of 23 drill holes, covering 10,453 meters, have been completed to support the Bankable Feasibility Study expected by Q1 2023. The results underline significant mineralization and bolster future resource potential, particularly with the discovery of a new copper feeder zone.

Ascendant Resources Inc. (OTCQB: ASDRF) has launched a 5,000m exploration program focusing on high-priority geophysical anomalies in the Venda Nova area. Two primary targets, Anomaly D and Anomaly B, have been identified for drilling, which could significantly enhance the resource framework at the Lagoa Salgada project. Anomaly D, located east of Venda Nova South Zone, and Anomaly B, northeast of Venda Nova North Zone, are expected to hold large concentrations of sulphides, similar to existing zones. The initiative is part of Ascendant's efforts to maximize shareholder value through strategic exploration.

Ascendant Resources Inc. has entered a US$15 million metals stream agreement with Sprott Private Resource Streaming and Royalty Corp. for the Lagoa Salgada VMS project in Portugal. The funds will support the ongoing feasibility study, permitting, and earn-in costs for an 80% interest in the project. The agreement allows Sprott to receive 1.75% of all metals produced at a discounted rate until 45,000 gold equivalent ounces are delivered. Mark Brennan, the Executive Chairman, expressed excitement over the partnership, stating it enables continued project development.

Ascendant Resources Inc. (TSX: ASND; OTCQB: ASDRF) announced promising results from its Lagoa Salgada Project in Portugal. Drill hole LS ST_42 yielded 6.9m at 1.59% copper (1.99% CuEq), extending the copper-rich footwall lens by 200m to a strike length of ~550m. The results bolster resource potential and highlight the deposit's significant scale and quality. As of October 31, 2022, Ascendant has completed 21 drill holes totaling 9,378m, with ongoing exploration indicating robust mineralization characteristics.

Ascendant Resources Inc. (OTCQB: ASDRF) announced significant drilling results from the Venda Nova Deposit at its Lagoa Salgada VMS Project in Portugal. Hole ST_31 returned 16m at 2.6% Cu (4.33% CuEq), highlighting a new high-grade copper zone. The results, including 12m at 3.3% Cu, indicate potential extensions at depth and improved metal endowment in neighboring blocks. The company has completed 15 drill holes totaling 6,118m, with further drilling ongoing. Ascendant aims for a mineral resource update in Q3, bolstering its feasibility study and exploration programs.

Ascendant Resources Inc. (TSX: ASND, OTCQB: ASDRF) announced an amendment to its agreement with Mineral & Financial Investments AG, extending the deadline for completing the feasibility study for the Lagoa Salgada Project to June 22, 2023. The company plans to finalize the study by Q1 2023. This extension enables Ascendant to explore new opportunities while completing its feasibility work. The project contains substantial measured and inferred resources and offers significant potential for growth, situated near Lisbon with excellent infrastructure.