Ascendant Resources Inc. (TSX: ASND | OTCQB: ASDRF |FRA: 2D9) has announced that with joint venture partner, Mineral & Financial Investments AG, they have agreed to an extension in the earn-in option agreement for the Lagoa Salgada project, to allow for the completion date of the feasibility study to be on or before 3 August 2023.
Located 80km from Lisbon and surrounded by excellent infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity and has already showed its mineable scale and cashflow generation potential.
In connection with the amendment, Ascendant has agreed to issue M&FI 500,000 common share purchase warrants, with each warrant exercisable into one common share for a period of 30 months at a price of C$0.20 per share.
Ascendant currently holds a 50% interest in the Lagoa Salgada project through its position in Redcorp – Empreendimentos Mineiros, Lda, and has an earn-in opportunity to increase its interest in the project to 80%.
To find out more, please visit www.ascendantresources.com
