70 Year Old Mine Producing 2400 Tonnes of Zinc Per Day
Ascendant Resources is focused on the El Mochito Mine in Honduras. The mine has been in operation for seventy years. It’s got a long history of production, it’s producing a zinc like concentrate. We started at about 1250 tonnes per day and we exited the year around 2400 tonnes per day.
Ascendant Resources Inc. is a Toronto-based mining company focused on its 100%-owned producing El Mochito zinc, silver and lead mine which has been in production since 1948. After acquiring the mine in December 2016, Ascendant implemented a rigorous optimization program aimed at restoring the historic potential of the El Mochito mine. In 2017, the Company successfully completed the operational turnaround it set out to achieve with sustained production at record levels and profitability restored. The Company now remains focused on cost reduction and further operational improvements to drive robust free cash flow in 2018 and beyond. Ascendant is also focused on expanding and upgrading known resources through extensive exploration work for near-term growth. 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 which could lead to further resource growth. The Company is also engaged in the evaluation of producing and development stage mineral resource opportunities, 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.
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