SOURCE: Ascendant Copper Corporation

January 05, 2007 09:52 ET

Ascendant Copper Corporation Announces Appointment of Vice-President - Operations and Resignation of CFO

VANCOUVER, BC -- (MARKET WIRE) -- January 5, 2007 -- Ascendant Copper Corporation ("Ascendant" or the "Company") (TSX: ACX) (BERLIN: A0HMLE) announced today that James Stonehouse, M.A. Geol., has accepted the position of Vice President - Operations (South America) for the Company, directing and coordinating the Company's exploration strategies and activities in South America, primarily Ecuador. Mr. Stonehouse brings 30 years of experience in all facets of the mining industry, including extensive exploration experience in Central and South America where, among other things, he has been responsible for development through feasibility and construction of numerous mining projects.

The Company's President, Gary E. Davis, said, "The Company is gratified to have successfully attracted an individual such as James who has both great mining credentials and managerial experience. It is an added bonus that he brings to the Company direct experience within Ecuador as well as direct ties in the Intag region where the Company's Junin project is located."

Most recently, Mr. Stonehouse served as Vice President and Country Manager for Channel Resources Ltd. in Ecuador, where he currently resides and will continue to be based. He will start with the Company on January 8, 2007.

Ascendant also announced today that Llee Chapman, the Company's Chief Financial Officer, has accepted the position of Regional Business Executive with a major mining company managing their North American administration duties out of Elko, Nevada. Mr. Chapman will start his new career assignment January 8, 2007.

In addressing the loss of Mr. Chapman from the staff, Mr. Davis commented, "This is an excellent opportunity for Mr. Chapman -- one that he simply couldn't turn down. I personally, and the entire Company staff and Board, wish Llee the very best in his new position. This is a great loss for us, but we must move forward and are currently in the process of interviewing candidates to fill this important position."

Ascendant's principal business is the exploration for copper in Ecuador. The Company has two primary properties, the Junin and Chaucha properties, as well as an extensive exploration database developed for Ecuador by Rio Tinto Mining and Exploration Limited and the recently acquired Telimbela copper/molybdenum grass roots exploration property in an historical mining district in south-central Ecuador. The Junin Project, located in northern Ecuador, is a copper-molybdenum, gold and silver porphyry property with a reported inferred mineral resource of 982 million tonnes grading 0.89% copper, 0.04% molybdenum and 1.9 grams per ton of silver, at a 0.4% copper cut-off grade (1). The Company has recently partnered with Antofagasta PLC for the exploration and advancement of the Company's Chaucha copper-molybdenum property in southern Ecuador (2). A drilling program is currently underway on the Chaucha property and results will be reported as they become available.

(1) See "Technical Report Review of the Quartz Porphyry-Hosted Copper-Molybdenum Mineralisation at Junin, Otavalo, Ecuador" prepared by Qualified Person, Paul D. Gribble, C. Eng., Senior Mineral Resources Geologist, of Micon International Co Limited ("Micon").

(2) See "Technical Report dated April 8, 2005, and amended August 5, 2005, Review of the Quartz Porphyry-Hosted Copper-Molybdenum Mineralisation at Chaucha, Cuenca, Ecuador" prepared by Qualified Persons, Paul D. Gribble, C. Eng., Senior Mineral Resources Geologist, and David T. Wells, Senior Metallurgist, of Micon.

Contact Information

  • Company contact:
    Gary E. Davis

    10920 West Alameda Avenue, Suite 201
    Lakewood, CO 80226
    Tel: (303) 824-0271
    Fax: (720) 962-4648
    Email Contact