Ascendant Resources Inc (TSE:ASND) has tapped mining veteran Joao Barros as president of the Portugal-focused junior company following the resignation of CEO Chris Buncic.
Barros, the current head of Ascendant’s Portuguese subsidiary Redcorp – Empreendimentos Mineiros Lda, is well versed in the company’s Lagoa Salgada VMS project in the Iberian Pyrite Belt in Portugal.
In a statement, Toronto-based Ascendant said Barros will continue to oversee exploration and development at Lagoa Salgada as the company moves towards a feasibility study on the project.
READ: Ascendant Resources to start Phase 2 metallurgical test work at its Lagoa Salgada project in Portugal
Ascendant also said that CFO Rohan Hazelton has also resigned and corporate controller Alonso Sotomayor will assume the role on an interim basis. Executive Chairman Mark Brennan will assume interim CEO duties.
“We are thrilled to have Joao join us at Ascendant,” Brennan told shareholders.
“Joao comes from an esteemed family steeped in the recent history of mining in Portugal. His depth of experience in mining project management, having built several operations in Portugal over the past two decades, will add tremendous strength to Ascendant’s management team. We are grateful for his guidance and contributions to our exploration success thus far at Lagoa Salgada, and we have the greatest confidence in our continued success under his direction in Portugal.”
Brennan also thanked outgoing CEO Buncic for his efforts to transition the focus of Ascendant from its operation of the complex El Mochito mine to developing Lagoa Salgada.
The company has also retained Hybrid Financial Ltd for a six-month period to help increase its profile amongst North American investors.
Contact Angela at angela@proactiveinvestors.com
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