TORONTO, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (TSX:ASND) (OTCQX:ASDRF) (FRA:2D9) ("Ascendant" or the "Company”) reports that operations at its El Mochito mine in Honduras are continuing normally despite uncertainty following the General Elections held on Sunday, November 26, 2017. Since this date, uncertainty regarding the outcome of the election for President, where vote counting remains ongoing, has resulted in demonstrations in various parts of the country and the imposition of a 10-day general curfew by the national government as of Friday, December 1.
To date, there has been no material impact to the operations and the Company continues to ship concentrate from the mine to the port. Company workers have received permission to travel to and from the mine during curfew hours and are able to do so safely. The mine still receives support from the community as the main employer in the region. Ascendant has, however, taken precautions to ensure that the security of people, plant and property is maintained and continues to diligently monitor the situation.
At this time, we believe there is no material risk to operations, people or property. The Company will continue with operations as usual while taking all essential measures to maintain the ongoing safety of our employees and assets. The Company has sufficient supplies of diesel and other essential items at site to continue operations through this process of political change and there have been no interruptions with the workforce.
Operations at the El Mochito mine have been ongoing for over 70 years and is a vital source of employment and social-economic benefit to the local municipality and benefits from overwhelming community support, which continues during this uncertain time.
The Company shall provide further updates if there is a material change in the situation.
About Ascendant Resources
Ascendant Resources Inc. is a mining company focused on its 100%-owned producing El Mochito zinc, silver and lead mine in west-central Honduras, 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 Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "ASND". For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.
