EL MOCHITO, HONDURAS–(Marketwired – May 8, 2017) – Ascendant Resources Inc. (TSX VENTURE:ASND) (“Ascendant” or the “Company“) is pleased to announce that the Company’s El Mochito mine in Honduras hoisted 52,912 tonnes of ore in the month of April. Over the 27 operating days in the month, this represents an average 1,960 tonnes per day, an improvement as compared with 1,733 tonnes per day in March. In an April 18th press release, the Company provided guidance for Q2/17 of 160,950 tonnes of ore (a daily average of 1,850 tonnes per day over 87 operating days).
Ascendant is also very pleased to announce that a new collective bargaining agreement (“CBA”) with union leadership has been agreed to the satisfaction of all parties and ratified by the Minister of Labour of Honduras. The agreement aligns the interests of the workers and the Company and is valid for three years. The successful conclusion of negotiations without further disruption of work reflects the improving relations since the Company’s acquisition of the El Mochito Mine in Honduras in December 2016.
President and CEO Chris Buncic commented: “April was a strong month for the Company as we continue to execute on our turnaround plans and optimization at the El Mochito mine. We have re-established and refreshed a strong relationship with the workforce which had suffered previously, and with the cooperation of all parties, we expect to continue to see improvements as we strive to exceed a sustainable production rate of 2,200 tonnes per day.”
About Ascendant Resources
Ascendant Resources Inc. is a mining issuer focused on its flagship operating asset, the producing El Mochito zinc, silver and lead mine in west-central Honduras in which the Company has a 100% interest. El Mochito has been in almost continuous production since 1948. More broadly, the Company evaluates producing and advanced development stage mineral resource acquisition opportunities in North, South and Central America, on an ongoing basis. The Company’s common shares are listed on the TSX Venture Exchange under the symbol “ASND”. For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation.
Forward-looking information is based on reasonable assumptions that have been made by Ascendant as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Ascendant to be materially different from those expressed or implied by such forward-looking information, including but not limited to: : production statistics; ore grades; tonnes milled; recovery rates; operating costs; the timing and amount of estimated future production; capital expenditures; the impact of general business and economic conditions; the successful negotiation of a CBA; the ability of the Company to increase production; the arrival of new equipment; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Ascendant; stock market volatility; competition; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Ascendant’s ability to control or predict.
Although Ascendant has attempted to identify important factors that could cause actual outcomes to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual outcomes and future events could differ materially from those reliant on forward-looking information.
All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Ascendant disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.
