Read below more facts about ASND's Lagoa Salgada world class project in the Iberian Pyrite Belt that could significantly increase ASND's value and make ASND a takeover target too.
As noted in the article below, the Iberian Pyrite Belt represents the largest concentration of massive sulphide deposits in the world,
https://resourceworld.com/spain-portugal-the-iberian-pyrite-belt-is-an-unparalleled-depository-of-mineral-wealth/
By Ellsworth Dickson
The Iberian Pyrite Belt is a vast geographical area that is one of the world’s great regions hosting metallic mineral deposits where over 2,000 million tonnes of ore has been extracted. The belt stretches along much of the south of the Iberian Peninsula, from Portugal and into Spain. It is about 250 km long and 30–50 km wide, running northwest to southeast from Alccer do Sal, Portugal, to Seville, Spain.
The Iberian Pyrite Belt was formed 350 million years ago in the Devonian Period, connected to active and hydrothermal volcanism that led to the formation of a volcanic-sedimentary complex. Volcanic activity in the region led to eight giant volcanogenic massive sulphide ore deposits (VMS) associated with polymetallic massive flanks of volcanic cones in the form of pyrite, chalcopyrite (copper), sphalerite (zinc), galena (lead) and cassiterite (tin). Over 250 deposits are known in the belt.
Mining has been taking place in the belt for centuries. From the eighth century BC, there was mining in the area but it was the Romans who exploited the mines on a larger scale. The southern area of Luistania, a Roman province for several centuries, was an important source of gold, silver, copper, tin, lead and iron.
Mining production in Spain decreased 15.10% in January of 2021 over the same month in the previous year, no doubt partially due to the COVID-19 pandemic protocols, making this number not typical as Spanish mine production has not been consistent.
Mineral production in Spain averaged 20,400,119.500 tonnes from December 2009 to 2018. An all-time high of 25,280,945.000 tonnes was reached in 2009 and a record low of 17,280,337.000 tonnes 2016.
Of the 100 minerals mined in Spain, 18 were produced in large quantities: bentonite, copper, fluorspar, glauberite, gold, iron, lead, magnetite, mercury, potash, pyrites, quartz, refractory argillite, sea and rock salt, sepiolitic salts, tin, tungsten, and zinc.
Similar to Spain, mining production in Portugal decreased 15.20% in January of 2021 over the same month in the previous year.
One-half of the Iberian Pyrite Belt is in Portugal, where VMS deposits such as the Neves-Corvo deposit is being mined by Lundin Mining Corp. [LUN-TSX; LUMIF-OTCQX].
The country has been the largest producer of mined copper in the EU, and beryl, dimension stone, ferroalloys, tin, and tungsten were also of international importance.
Portugal mineral production data is updated yearly, averaging 1,066,665.500 tonnes from December 2009 to 2018. In 2016, Portugal produced 74,435 tonnes of mined copper and 70,000 tonnes of mined zinc.
Due to its spectacular mineral endowment, the Iberian Pyrite Belt has been an attractive destination for Canadian exploration and mining companies. Some companies operating in Spain include Orvana Minerals Corp. [ORV-TSX; ORVMF-OTC], Pan Global Resources Inc. [PGZ-TSXV; PGNRF-OTC], Emerita Resources Corp. [EMO-TSXV; EMOTF-OTC], Almonty Industries Inc. [AII-TSX; ALMTF-OTC] and First Quantum Minerals Ltd. [FM-TSX].
Some companies operating in Portugal include Ascendant Resources Inc. [ASND-TSX; ASDRF-OTC; 2D9-FSE] with its prospective Lagoa Salgada VMS Project, Avrupa Minerals Ltd. [AVU-TSXV; AVPMF-OTC; 8AM-FSE] and Colt Resources Inc. [COLTF-OTC; P01-FSE].
Even after thousands of years of mining activity, the rich and prolific Iberian Pyrite Belt remains one of the best jurisdictions for mining in the world.
Ascendant Resources Inc. [ASND-TSX; ASDRF-OTC; 2D9-FSE] is a Toronto-based mining company focused on exploration and development of the highly prospective Lagoa Salgada volcanogenic massive sulphide (VMS) project, located 45km South East of Lisbon in the prolific Iberian Pyrite Belt in Portugal.
The Iberian Pyrite Belt is host to some of the world’s largest VMS deposits and mines such as Neves-Corvo (Lundin Mining Corp. [LUN-TSX; LUMI-Sweden]), Aguas Tenidas (Trafigura Mining Group) and Aljustrel (private). It represents the largest concentration of massive sulphide deposits in the world, forming an arch through Portugal, and Spain about 240 kilometres long and 35 kilometres wide.
In June 2018 Ascendant entered an agreement with TH Crestgate GmbH to acquire an initial 25% interest in its Portuguese subsidiary Redcorp – Empreendimentos Mineiros, Lda (Redcorp), which holds an 85% interest in the polymetallic Lagoa Salgada volcanogenic massive sulphide (VMS) Project, as well as an option to earn up to an 80% interest in Redcorp upon completion of certain milestones.