Ascendant Res Inc Stock Price, News & Analysis

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.

Ascendant Resources Inc. (TSX: ASND, OTCQB:ASDRF) reports successful drilling results from the Venda Nova South Zone, underlining significant copper grades. Highlights include:

• Met_St_04: 10m @ 2.89% CuEq (1.3% Cu) from 286m
• ST_27: 9m @ 2.29% CuEq (1.9% Cu) from 568m
• ST_30: 3m @ 3.93% CuEq (2.8% Cu) from 395m

This drilling campaign enhances the conversion of inferred to indicated resources, supporting a Feasibility Study by April 2023. The results suggest strong potential for further resource expansion in the Lagoa Salgada project located in Portugal.

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.