Ascendant Resources Appoints Mr. Clinton Swemmer as Vice President, Technical Services
October 21 2021 - 5:00PM
Ascendant Resources Inc. (TSX: ASND) (FRA: 2D9)
("Ascendant" or the "Company”) is pleased to announce that Clinton
Swemmer, has joined as Vice President of Technical Services. Mr.
Swemmer will contribute to facilitating the development of the
Lagoa Salgada VMS project as it progresses into Feasibility stage.
Mr. Swemmer is a senior project delivery
professional whose career spans over 20 years working on various
development stage projects. Prior to joining Ascendant, Mr. Swemmer
held the position of Vice President of Project Delivery for
Treasury Metals a mining company where he managed the Study and
Trade-Offs to maximize NPV and meet the technical requirements of
the Environmental and Permit process. In addition, as Vice
President of Project Delivery, North America for Ausenco, an EPC/M
company focused on the metals and mining industry he managed the
teams responsible for the EPC Awards of the Magino Gold Mine, Las
Chispas Mine and Blackwater Gold Mine.While at Ausenco, Mr. Swemmer
was also accountable for reviewing all Pre-Feasibility Studies
(PFS) and Feasibility Studies (FS) execution strategies and layouts
such as Marathon Gold Mine and Springpole Gold Project.
Prior to Ausenco, he served as Director of
Projects, Mining and Minerals for Amec Foster Wheeler, where he was
Project Manager for the Kinross Gold Round Mountain and Bald
Mountain Projects, actively involved in the development of the
IAMGOLD Côté Gold Project as well managed the portfolio for PFS and
FS that included the Spring Valley Gold Mine and the Sukhoi Log
Gold Mine. In addition, he previously served as Vice President of
Projects for DRA Americas responsible for all PFS, FS, and Projects
in the region that included delivery of the Renard Diamond Mine
processing facility in Quebec, Labrador Iron Mines processing plant
and numerous cold weather projects. In this role, he has also been
an Independent Expert for numerous financial institutions involved
with projects such as the Gahcho Kue Diamond Mine and the Brucejack
Gold Mine. Mr. Swemmer holds a First Class Honours Bachelor of
Engineering degree from the University of Hertfordshire, is a
Professional Engineer (Pr. Eng) of Ontario and a member of the
Project Management Institute where he is an active PMP member.
Mark Brennan, Executive Chairman of Ascendant
stated, “We are extremely pleased to welcome Clinton to the
Ascendant team. Clinton will be instrumental in the projects
development as we look to embark on the Feasibility Study for the
Lagoa Salgada VMS project.”
About Ascendant Resources
Inc.
Ascendant 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. Through focused exploration and aggressive development
plans, the Company aims to unlock the inherent potential of the
project, maximizing value creation for shareholders.
Lagoa Salgada contains over 10.33 million tonnes of Measured and
Indicated Resources @ 9.06 % ZnEq and 2.50 million tonnes of
Inferred Resources @ 5.93 % ZnEq in the North Zone; and 4.42
million tones of Indicated Resources @ 1.50 % CuEq and 10.83
million tonnes of Inferred resources @ 1.35 % CuEq in the South
Zone at Venda Nova. The deposit demonstrates typical mineralization
characteristics of Iberian Pyrite Belt VMS deposits containing
zinc, copper, lead, tin, silver and gold. Extensive exploration
upside potential lies both near deposit and at prospective step-out
targets across the large 10,700ha property concession. The project
also demonstrates compelling economics with scalability for future
resource growth in the results of the Preliminary Economic
Assessment. Located just 80km from Lisbon, Lagoa Salgada is easily
accessible by road and surrounded by exceptional Infrastructure.
Ascendant holds a 21.25% interest in the Lagoa Salgada project
through its 25% position in Redcorp - Empreendimentos Mineiros,
Lda, ("Redcorp") and has an earn-in opportunity to increase its
interest in the project to 80%. Mineral & Financial Investments
Limited owns the additional 75% of Redcorp. The remaining 15% of
the project is held by Empresa de Desenvolvimento Mineiro, S.A., a
Portuguese Government owned company supporting the strategic
development of the country's mining sector. The Company's interest
in the Lagoa Salgada project offers a low-cost entry to a
potentially significant exploration and development opportunity,
already demonstrating its mineable scale.
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
www.ascendantresources.com.
Additional information relating to the Company, including the
Preliminary Economic Assessment referenced in this news release, is
available on SEDAR at www.sedar.com.
Neither the Toronto Stock Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this
release.
For further information, please contact:
Mark
Brennan |
Nicholas
Campbell, CFA |
CEO, Executive Chairman, Founder |
Manager, Corporate Development |
Tel: +1-647-796-0023 |
Tel: +1-905-630-0148 |
mbrennan@ascendantresources.com |
ncampbell@ascendantresources.com |
Forward Looking
Information
This news release contains "forward-looking
statements" and "forward-looking information" (collectively,
"forward-looking information") within the meaning of applicable
Canadian securities legislation. All information contained in this
news release, other than statements of current and historical fact,
is forward-looking information. Often, but not always,
forward-looking information can be identified by the use of words
such as "plans", "expects", "budget", "guidance", "scheduled",
"estimates", "forecasts", "strategy", "target", "intends",
"objective", "goal", "understands", "anticipates" and "believes"
(and variations of these or similar words) and statements that
certain actions, events or results "may", "could", "would",
"should", "might" "occur" or "be achieved" or "will be taken" (and
variations of these or similar expressions). Forward-looking
information is also identifiable in statements of currently
occurring matters which may continue in the future, such as
"providing the Company with", "is currently", "allows/allowing
for", "will advance" or "continues to" or other statements that may
be stated in the present tense with future implications. All of the
forward-looking information in this news release is qualified by
this cautionary note.
Forward-looking information in this news release
includes, but is not limited to, statements regarding the
exploration activities and the results of such activities at the
Lagoa Salgada Project, the ability of the Company to advance the
Lagoa Salgada Project to a Preliminary Economic Assessment, and the
ability of the Company to fund the exploration with funds from
operations. Forward-looking information is based on, among other
things, opinions, assumptions, estimates and analyses that, while
considered reasonable by Ascendant at the date the forward-looking
information is provided, inherently are subject to significant
risks, uncertainties, contingencies and other factors that may
cause actual results and events to be materially different from
those expressed or implied by the forward-looking information. The
material factors or assumptions that Ascendant identified and were
applied by Ascendant in drawing conclusions or making forecasts or
projections set out in the forward-looking information include, but
are not limited to, the success of the exploration activities at
Lagoa Salgada Project, the Company advancing the project to a
Preliminary Economic Assessment, the ability of the Company to fund
the exploration program at Lagoa Salgada with funds from operations
, and other events that may affect Ascendant's ability to develop
its project; and no significant and continuing adverse changes in
general economic conditions or conditions in the financial
markets.
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