TSX: ASND
www.ascendantresources.com
- Appointment of Highly Experienced Process Engineer to
Enhance Technical Capacity
- Expansion of Technical Services Team To Support Ongoing
Development Programs
TORONTO, Oct. 16,
2023 /CNW/ - Ascendant Resources Inc. (TSX:
ASND) (OTCQB: ASDRF) (FRA: 2D9) ("Ascendant" or the "Company") is
pleased to announce that it has strengthened its technical team
with the addition of Mr. Val Coetzee
who has been appointed as Director, Process Engineering. Mr.
Coetzee will work with the rest of the technical team to enhance
the delivery of the Lagoa Salgada project to optimize the process
flow sheet and design as the company moves towards project
development.
Mr. Coetzee is a senior process engineering professional with
over 25 years of experience in process engineering design,
operational management, metallurgical analysis, risk analysis,
economic valuation and executive leadership within the global
mining industry. For the past decade, Mr. Coetzee has been at DRA
Global rising to the role of Senior Vice President for Process
Engineering. Mr. Coetzee played a vital role in the success of
various projects and studies across a broad range of commodities
and locations globally. Prior to this Mr. Coetzee worked at Impala
Platinum and De Beers Consolidated as a metallurgist and technical
manager tasked with overseeing new greenfield projects. Mr.
Coetzee holds a Bachelor of Engineering in Chemical Engineering
from the University of Stellenbosch, South Africa and a Master of Engineering:
Mining (Mineral Economics) form the University of the
Witwatersrand, South Africa and
has experience in a diverse range of commodities, including PGMs,
Gold, Uranium, Copper, Cobalt, Zinc, Lead, Lithium, Manganese,
Chrome, Nickel, Magnesium, Iron Ore and Diamonds, with expertise in
mineral processing, hydrometallurgy, and pyrometallurgy.
Mark Brennan, Executive Chairman
of Ascendant stated, "We are extremely pleased to welcome Val to
the Technical team at Ascendant. Val brings significant experience
in design, metallurgy and process optimization which add
significantly to the technical capabilities of Ascendant as we aim
to optimize the process design and flow sheet for the Lagoa Salgada
project as we move the project to towards a final development
decision".
About Ascendant Resources Inc.
Ascendant Resources is a Toronto-based mining company focused on the
exploration and development of the highly prospective Lagoa Salgada
VMS project located on the prolific Iberian Pyrite Belt in
Portugal. The Lagoa Salgada
project is a high-grade polymetallic project, demonstrating a
typical mineralization endowment of zinc, copper, lead, tin,
silver, and gold. Extensive exploration upside potential lies both
near deposit and at prospective step-out targets across the large
7,209-hectare property concession.
Located just 80km from Lisbon
and surrounded by exceptional infrastructure, Lagoa Salgada offers
a low-cost entry to a significant exploration and development
opportunity, already showing its mineable scale and cashflow
generation potential.
Ascendant currently holds a 80% interest in the Lagoa Salgada
project through its position in Redcorp - Empreendimentos Mineiros,
Lda, ("Redcorp"). The Company's common shares are principally
listed on the Toronto Stock Exchange under the symbol "ASND". For
more information on Ascendant, please visit our website at
http://www.ascendantresources.com/.
Forward Looking Information
This press release contains statements that constitute
"forward-looking information" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that discusses predictions, expectations,
beliefs, plans, projections, objectives, assumptions, future events
or performance (often but not always using phrases such as
"expects", or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking statements.
Forward-looking statements contained in this press release
include, without limitation, statements regarding the business, the
Lagoa Salgada project and timing of completion of studies. In
making the forward- looking statements contained in this press
release, Ascendant has made certain assumptions, including,
but not limited to outcomes associated with optimization works
at the Lagoa Salgada Project. Although Ascendant believes
that the expectations reflected in forward-looking statements are
reasonable, it can give no assurance that the expectations of any
forward-looking statements will prove to be correct. Known and
unknown risks, uncertainties, and other factors which may cause the
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to general business, economic,
competitive, political and social uncertainties. Accordingly,
readers should not place undue reliance on the forward-looking
statements and information contained in this press release. Except
as required by law, Ascendant disclaims any intention and assumes
no obligation to update or revise any forward-looking statements to
reflect actual results, whether as a result of new information,
future events, changes in assumptions, changes in factors affecting
such forward-looking statements or otherwise. Forward-looking
information is subject to a variety of risks and uncertainties,
which could cause actual events or results to differ from those
reflected in the forward-looking information, including, without
limitation, the risks described under the heading
"Risks Factors" in the Company's Annual Information Form dated
March 31, 2023 and under the heading
"Risks and Uncertainties" in the Company's Management's Discussion
and Analysis for the years ended December
31, 2022 and 2021 and other risks identified in the
Company's filings with Canadian securities regulators, which
filings are available on SEDAR at www.sedar.com. The
risk factors referred to above are not an exhaustive list of the
factors that may affect any of the Company's forward-looking
information. The Company's statements containing forward-looking
information are based on the beliefs, expectations and opinions of
management on the date the statements are made, and the Company
does not assume any obligation to update such forward-looking
information if circumstances or management's beliefs, expectations
or opinions should change, other than as required by applicable
law. For the reasons set forth above, one should not place undue
reliance on forward-looking information.
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SOURCE Ascendant Resources Inc.