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.
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Cautionary Note Regarding Forward-Looking Information
This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.