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“With the acquisition of the operating El Mochito mine in December 2016, we set out on a mission to take a poorly performing, underfinanced and underexplored mine through a rigorous optimization process with the goal of creating a long term profitable operation and value through a significant growth opportunity”.

Chris Buncic, President and CEO 

 

Ascendant Resources Inc. is a mining company focused on its 100%-owned producing El Mochito zinc, silver and lead mine which has been in production since 1948. Since acquiring the mine in December 2016, Ascendant has been focused on a continuous optimization program aimed at restoring the historic potential of the El Mochito mine and growing the asset thereon. To date, the Company has been successful at increasing production and reducing costs with the expectation of free cash flow in the near-term. Ascendant is also focused on expanding and upgrading known resources through extensive exploration work for near-term growth opportunity. With a significant land package of 11,000 hectares and an abundance of historical data there are several regional targets providing longer term exploration upside and further resource growth potential. The Company is also engaged in the evaluation of producing and advanced development stage mineral resource opportunities in North, South and Central America, on an ongoing basis.

The El Mochito mine is located in north-western Honduras, approximately 88 kilometres south-west of San Pedro Sula and 220 kilometres north-west of the capital city, Tegucigalpa. 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.

 

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