Ascendant Resources Inc. is a mining company focused on operating its El Mochito mine in Honduras while continuing to evaluate producing and advanced development-stage mineral resource opportunities, principally in North, South and Central America.

In December 2016, the Company completed its acquisition of 100% of American Pacific Honduras SA de CV and its flagship asset, the producing El Mochito Mine, from Nyrstar NV and its affiliates. The El Mochito mine, located in north-western Honduras, approximately 88 kilometres south-west of San Pedro Sula and 220 kilometres north-west of the capital city, Tegucigalpa, has been in operation since 1948. The underground operation takes advantage of selective and bulk underground mining methods to mine multiple flat lying manto deposits and high-grade vertical chimneys, producing zinc and lead concentrates with significant silver credits. At the closing of the acquisition, the Company was well financed to execute its plans to improve mine optimization and development as well as restart exploration activities.

 

History of El Mochito

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1938

El Mochito property was originally discovered

1943

Rosario Mining Company purchases El Mochito property

1946

Rosario constructs small mill at El Mochito

1948

Production begins at El Mochito with initial zinc products being a jig concentrate containing native silver, a bulk flotation concentrate and a silver product

1980

Amax Inc. acquires Rosario

1987

American Pacific Honduras SA de CV (AMPAC) purchases El Mochito property

1990

Breakwater Resources Ltd. acquires AMPAC

2011

Nyrstar NV acquires Breakwater Resources, therby acquiring the El Mochito operation

December 2016

Ascendant Resources Inc. acquires AMPAC and the El Mochito mine