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Ascendant Holdings Ltd. Acquires Molleturo
The Molleturo Project (1,700 Has) is located in the Azuay Province to the south-west of Quito, Ecuador. Exploration works carried out by several mining companies (1970-97) such as Farmland International Energy Company and Granda-Centeno involved stream sediment, rock and soil geochemistry, geophysics (magnetometry), trenches and adits.
The geological studies determined the existence of four anomalous sectors. In one of these anomalies is the existence of two veins east-west strike dipping 70º to the NE of which both were studied. In this last sector several mining labors were developed (700 meters of tunneling). Rock samples from these veins were assayed in the CIMM lab from Chile. The results indicated the following averages: 2.3% lead, 4.24% zinc, 0.69% copper, 17.37% iron, 12.70% sulfur, 3.25% arsenic, 3.4 g/t gold, 392 g/t silver and palladium & platinum values. Granda Centeno reported that the veins area of study contained 16,000 tonnes as proven reserves and 8,000 tonnes as probable reserves. The other anomalous sectors and extensions of these veins have not been explored.
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.
Contact
www.ascendantholdings.com
Christopher Werner
920-803-9910
cw@ascendantholdings.com