Genevieve

John Greenleaf Whittier, American Quaker poet and abolitionist, was noted for saying, "I will lift you and you get up, and we'll both ascend together." It seems that Ascendant Copper (TSX: ACX) has taken some of his sage advice on relationships because it inaugurates a new phase of its ascent to its friendly takeover of St. Genevieve Resources (CNQ: SGVL) of Montreal. The boards of both ACX and SGVL have unanimously approved a letter of intent in which ACX acquires all outstanding shares of SGVL in exchange for a maximum of 30,000,000 shares ACX common, according to its press Release October 31. The closing of the transaction is subject to final due diligence by ACX and SGVL.

This news represents a new chapter for Ascendant as it diversifies its asset base and accelerate its efforts to obtain the status of production of intermediate level. Of particular interest are SGVL two former producer of copper properties in Arizona.

Emerald Isle is a former copper mine opencast production located 24 km northwest of Kingman. Infrastructure in the area is excellent on all points, with water from nearby wells. Mine infrastructure includes a SX / EW (* solvent-leach/electrowinning) plants, buildings and equipment.

Emerald Isle contains 43-101-compliant mineral resource recoverable ** £ 27.5 million cu. The property has a work history dating back to 1917, with production to open in 1943. A final pre-feasibility study completed by Behre Dolbear reports an expected life of the mine 4 years, which is a conservative estimate. The company plans to bring the property into production within 12 months to produce about 5 million pounds of copper per year. The company estimates that costs of about $ 4 to 5 million to bring the property into production.

It is particularly important to note the economic advantage that the SX / EW processing scenario lends itself to this project. It requires a capital investment low compared to the fusion process, and can be viable, even on a small scale. The process has very little impact on the environment, as its liquid streams are easily contained, and acids used in the process are eventually neutralized by the host rock itself. More importantly, SX / EW also allows the treatment of copper oxides, which are very difficult and expensive to smelt. The copper ores are oxidised form, as azurite, brochantite, chrysocolla and cuprite, and copper traces in old mine dumps has been oxidized by exposure to air.

Zonia property, located south of Prescott, consists of 3,300 hectares which produces £ 33 million from 1966 to 1975 copper by heap leaching. In 2006, Scott Wilson Roscoe Postle Associates (RPA) has prepared a NI 43-101 technical report on the property. He outlined an inferred resource of 63 million tonnes of copper averaged 0.37% Cu at a cutoff grade of 0.25% containing 460 million pounds of copper.

Zonia is also considered as a producer in the short term. Ascending plans to update the feasibility study and develop additional resources by drilling during site preparation for production over the next 24-30 months.

The acquisition of SGVL enables Ascendant to build on its overall portfolio of copper-molybdenum. The company is also able to build on extensive experience in exploration for copper, which emerged while working in Ecuador, where it has two properties: the Chaucha copper-molybdenum in the southwest, and the Junin project porphyry copper-molybdenum in the north-west.

Chaucha has a geological resource estimate historic 216 million tonnes, with 2.2 billion pounds Cu and 122 million pounds of Mo Phase III drilling program - intended to test for.