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Ascendant Holdings Ltd. Announces Acquisition Of Curiplaya - Copper-Gold Porphyry Deposit
The Curiplaya project is classified as a copper-gold porphyry deposit covering 3,750 hectares in the Loja Province, of southern Ecuador. In March 2004, Ascendant obtained an option to purchase 100% of the project for $75,000 and $130,000 in shares of Ascendant. The owner will retain a net smelter royalty of 1.25% after the option is exercised, which Ascendant can purchase at any time for $100,000. Ascendant must also make bi-annual payments reaching $10,000 in year three to the concession holder until the option is exercised.
Drilling on the project was concentrated in three main gold and copper anomalous zones: Bramaderos, Melonal and Porotillo. According to a report issued by Ecuanor in 1999 the Bramaderos zone yielded resources of 1.6 million ounces of gold grading 0.5g/t. Indicated values of up to 0.18% copper, 1.13 grams of gold per tonne and 0.0022% molybdenum. The Limon anomaly, located to the northeast of the Bramaderos zone, yielded chip sampling results of >1.78% Copper. Additionally, to the northwest of the Bramaderos zone a gold epithermal target yielded values of >6.0g/t gold.
About Ascendant Holdings Ltd.
Ascendant Holdings Ltd is a junior exploration mining company, focused on the development of industrialized metals mining in the country of Ecuador. Ascendant controls mineral resources in a diversified portfolio of mining projects. Management's objective is to create shareholder wealth through the exploration and development of
mineral projects on an international scale. The company is currently negotiating on additional precious metal and base metal projects.
07/15/04.
Contact
www.ascendantholdings.com
Christopher Werner
920-803-9910
cw@ascendantholdings.com