Ascendant Copper to Replace its Recently Destroyed Medical Clinic in Ecuador.VANCOUVER, British Columbia -- Ascendant Copper Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :ACX ACX Available Chemicals Exchange ACX Advanced Combat Experimental ACX Asynchronous Cross Connect ) - The Company reports today that in the early morning of December 10, 2005, a mob of approximately 70 persons invaded the Company's medical clinic and demonstration farm at its Junin copper project in Ecuador. These facilities were used by the Company to conduct community classes on agriculture topics and provide community healthcare. The employees who were on the property were physically and verbally assaulted, but thankfully injuries were not serious. Medical supplies and equipment, including pharmaceuticals, farm communication equipment and personal property were stolen before the facilities were set ablaze. The Company estimates a loss of this property, equipment and supplies at less than US$20,000. The Company has requested a criminal investigation with a view to charges being laid against known perpetrators. Regarding this illegal activity, Mr. Gary Davis, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company, stated that "the Company is outraged by this assault against Company personnel and assets that were dedicated to the assistance of the local community. We are going to rebuild the medical clinic as soon as possible so that the local communities have access to the much-needed health care provided by our medical personnel." Mr. Davis also commented, "This attack was perpetrated by a very small percentage of the regional community-stakeholder population and is not representative of the majority view of the general communities. The communities have already requested that the Company rebuild the destroyed facilities and have offered their assistance in completing this task. The Company does not foresee that this disturbance will have any negative impact on planned advancement of the Junin project." The Company has completed its Environmental Impact Assessment for the Junin project and is preparing to submit it within days to both the government and the communities for discussion. In addition, the Company had earlier retained an Ecuadorian company, DAIMI DAIMI Datalogisk Afdeling I Matematisk Institut (Danish: Department of Computer Science at Aarhus Universitet) Services S.A., to assist in coordinating community efforts and obtaining the social license in support of exploration on the Junin project. This work will proceed unabated. Ascendant's principal business is the exploration for copper in Ecuador. The primary property is the Junin project located in northern Ecuador, a copper-molybdenum, gold and silver porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. property with an inferred mineral resource of 982 million tonnes grading 0.89% copper (Cu), 0.04% molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. (Mo) and 1.9 grams per ton of silver (Ag), at a 0.4% copper cut-off grade(1). The Company also is advancing the Chaucha property located in southern Ecuador, a copper-molybdenum porphyry overlain o·ver·lain v. Past participle of overlie. by an extensive supergene su·per·gene n. A group of closely linked genes occupying a large chromosomal segment and frequently functioning as a genetic unit. blanket. The Chaucha property is currently classified as a geologic mineral property(2). Ascendant Copper Corporation Gerald E. (Gary) Davis, President and CEO (1) See www.sedar.com "Technical Report Review of the Quartz Porphyry-Hosted Copper-Molybdenum Mineralisation at Junin, Otavalo, Ecuador" prepared by Qualified Person, Paul D. Gribble grib·ble n. Any of several small wood-boring marine isopod crustaceans of the genus Limnoria, especially L. lignorum, which often damage underwater wooden structures. , C. Eng., Senior Mineral Resources Geologist, of Micon International Co Limited. (2) See www.sedar.com "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. The Chaucha property is presently classified only as a geologic mineral property. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. does not accept responsibility for the adequacy or accuracy of this news release. Ascendant Copper Corporation (TSX:ACX) |
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