Ascendant Resources Inc. (OTCMKTS:ASDRF) (TSX:ASND) Stock Continues to Trade in a Narrow Range

Ascendant Resources Inc. (OTCMKTS:ASDRF) (TSX:ASND) is moving in a range after announcing the beginning of a wide Deep Penetrating Electromagnetic Survey and provision of an update regarding the current regional resources exploration and the in-fill drill projects as [art of the proposed Bankable Feasibility initiative at Venda Nova claim at the Lagoa Salgada Project in Portugal.

Market Stats

On Wednesday, ASDRF stock ended flat at $0.1755 with more than 56.8k shares, compared to its average volume of 7.8K shares. The stock has moved within a range of $0.1755 – 0.1755 after opening trading at $0.1755.

New DPEM Survey to Investigate Mineralization

Executive Chairman Mark Brennan said they are delighted to advance their numerous projects supporting the Lagoa Salgada Feasibility Study. Notably, the company has not lost sight of the project’s ultimate exploration prospects. Initiatives like the current DPEM geology investigation will aid further exploration, both laterally and at depth, until beyon2022.

Earlier geophysics survey has been very effective in determining successful drilling sites. The newly begun DPEM study is anticipated to supplement previous geological studies by providing another window into possible depths deposits. IGT (International Geophysical Technology) has arrived on location and has begun a Deep Penetrating Electromagnetic Survey at the Venda Nova resource in Lagoa Salgada. So ASDRF is worth watching.

Key Quote

Mark Brennan, Executive Chairman, stated, “We are very excited to be moving forward with our various programs to support the Feasibility Study at Lagoa Salgada. Additionally, we have not lost focus on the overall exploration potential of the project and programs such as the ongoing DPEM geophysics survey will help guide our continued exploration into 2022 and beyond both at depth and laterally.” He continued, “Previous geophysics has proven very adept at identifying successful drill targets and this newly commenced DPEM survey is expected to augment previous geophysics by giving an additional window to potential resources at depth.”

Traders Corner

ASDRF stock is trading above the 20-Day and 50-Day Moving averages of $0.1598 and $0.1714 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.1860.