- NE Extension exploration drill hole confirms
990 ft (302 m) of continuous mineralization and a tenor of primary
copper grades that, with appropriate enrichment processes, could
support copper grades suitable for underground mineral resources
(consistent with Parks/Salyer and Cactus East)
- Ionic leach sampling identifies large target
in the Gap Zone
- Cactus East infill to measured drilling
shows high grade copper similar to Parks/Salyer
Arizona Sonoran Copper Company Inc. (TSX:ASCU |
OTCQX:ASCUF) (“ASCU” or the “Company”) exploration drilling at
the NE Extension target confirms 990.7 ft (302 m) of 0.42% CuT of
continuous copper mineralization, collared 3,000 ft (914 m)
northeast of the Cactus East (CE) deposit. Both the NE Extension,
as well as the Gap Zone, were highlighted as priority targets
following a property wide ionic leach program and magnetic imaging
program targeting exploration potential along the 4 km Cactus Mine
Trend. During 2023, a total of $0.9 million is budgeted for
additional exploration in the Gap Zone and the NE Extension.
Additionally, two infill to measured drill holes from Cactus East
were returned from the laboratory, confirming continuous grade and
thickness within the current mine plan (see FIGURES
1-11).
Highlights:
- ECE-076 (CE): 491.0 ft (149.7 m) @ 1.51% CuT, 1.34% Cu TSol,
0.023% Mo
- Incl 211.7 ft (64.5 m) @ 1.75% CuT, 1.65% Cu TSol, 0.012% Mo
(oxide)
- And 279.3 ft (85.1 m) @ 1.38% CuT, 1.11% Cu TSol, 0.031% Mo
(enriched)
- Incl 79.3 ft (24.2 m) @ 2.87% CuT, 2.61% Cu TSol, 0.028%
Mo
- ECE-078 (CE): 377 ft (114.9 m) @ 1.25% CuT, 1.15% Cu TSol,
0.035% Mo (enriched)
- Incl. 20 ft (6.1 m) @ 2.10% CuT, 1.98% Cu TSol, 0.035% Mo
- ECN-128: continuous mineralization of 990.7 ft (302.0 m) @
0.42% CuT
- 118.1 ft (36.0 m) @ 0.97% CuT, 0.94% Cu TSol, 0.004% Mo
(oxide)
- 653.4 ft (199.2 m) @ 0.40% CuT, 0.008% Mo (primary)
NOTE: True widths are not known
George Ogilvie, Arizona Sonoran President and CEO
commented, “Exploration by ASARCO in the ’60s and ’70s was
super-focused on discovering and developing open pit copper
resources. As a result, ASARCO walked away from both the Cactus NE
Extension and the Parks/Salyer project, both underground targets.
Our team has had great success with Parks/Salyer last year, adding
2.9B lbs of Contained Copper in an inferred Maiden Resource and
Cactus East drilling and we see tremendous blue-sky potential at
both the Gap Zone and the NE Extension. We know the mineralization
in these two zones has not been drilled to depth and both remain
excellent exploration targets. To follow up, the team has allocated
expenditures to ensure proper evaluation of the 4 km porphyry
copper mine trend, while concurrently executing on the work plan to
deliver our Cactus and Parks/Salyer PFS due later this year.”
Exploration at NE Extension and Gap Zone
The combined results of the recent ionic leach survey, and the
2020 SkyTEM survey, identify the Gap Zone directly west of the
Cactus West open pit and east of the Tailings Facility as a high
potential target for future drilling. In addition, the success of
ECN-128, in the far NE of the property, indicates that additional
drilling should be conducted between the known Cactus East deposit,
and hole ECN-128. The zone to be explored contains a strike length
of 2,952 ft (900 m).
Ionic leach samples were collected on a 328 ft (100 m) grid
(with local infill to 164 ft (50m) along the entire length of the
Cactus Project trend from Parks/Salyer, in the SW corner, through
to the NE Extension zone, in the NE corner of the Project. As
expected, copper values were elevated over the Parks/Salyer mineral
resource area, and also at the GAP area between the Cactus West
open pit and Parks/Salyer (FIGURE 3). Interpretation of the
ionic leach results at Parks/Salyer (relative to underlying
mineralization in drilling) suggests that stronger levels of metals
are associated with thicker intervals of leached rock overlying the
resource as opposed to areas where Primary or Enriched
mineralization is exposed at the top of bedrock. The NE Extension
area and ECN-128 demonstrate a similar relationship.
The NE Extension exploration hole was collared approximately
40.0 ft (12.2 m) from ASARCO’s hole S-68 and intersected mostly
continuous mineralization from 996.7 ft to 1987.4 ft (in vertical
depth). The intersect includes 118.1 ft (36.0 m) of 0.94% Cu TSol
oxide mineralization from 996.7 ft (303.8 m). ECN-128 was designed
to verify the oxide/enriched mineralization relationships
previously drilled by S-68 (included in the drill assay highlights
table below) and to explore the previously underexplored primary
mineralization by drilling through the full bedrock profile to the
Basement Fault.
Historic drilling by Asarco in the Gap Zone and NE Extension
focused on near, or relatively near surface, enriched copper
mineralization exploring for open pit resources. Rarely was deeper
mineralization tested to its full extents or to the depth of the
underlying Basement Fault. The success of ECN-128 in extending
demonstrated oxide, enriched and primary copper mineralization from
those known drill intercepts provides encouragement to take the
same approach in the Gap Zone, where historical Asarco holes did
not test copper mineralization to depth.
In 2020 the Company flew a 650-line kilometer SkyTEM
EM/Magnetics survey over the Cactus Project area. FIGURE 3
is a color contour map of magnetic intensity within the current
project area. Areas of low magnetic susceptibility (intensity) at
Parks/Salyer, Gap and Cactus West are interpreted as being
expressions of magnetite destruction in the rocks hosting copper
mineralization. The Gap Zone is an extension of the magnetitic low
associated with Parks/Salyer copper mineralization. This large area
of identified and suspected alteration is bounded on the west and
east by late faulting, similar to bounding faults observed at the
Cactus West horst. Magnetics support the Company’s interest in
continued exploration of the Gap Zone and Northeast Extension
target areas.
Ionic sampling was successfully used at Parks/Salyer to guide
ASCU drilling on blind targets, or deeply buried mineralization not
detectable by traditional soil sampling. Ionic surveys are
typically not impacted by physically transported contamination from
past operations such as dust or runoff. Areas that were disturbed
by construction works during the mining of the Sacaton (Cactus
West) pit were not sampled for this survey. The technique has been
successfully implemented by other copper explorers in Arizona at
other mine locations.
Cactus East Infill Drilling
Chalcocite and covellite are the dominant copper species in the
enriched mineralization, replacing primary pyrite and chalcopyrite
in their original depositional habits, such as veins, breccia
fillings, voids and disseminations. These replacements styles,
shown in FIGURES 1-11, are representative of our
enriched mineral zone. Chalcocite also tends to build on itself,
resulting in zones of higher-grade mineralization where the
enrichment fluids had time and opportunity to continue the
secondary enrichment process.
TABLE 1: Cactus East and NE Extension Drilling
Highlights
Hole Id
Zone
Feet
Metres
CuT
%
TSol
%
Mo
%
From
To
Length
From
To
Length
ECE-076
oxide
1204.0
1415.7
211.7
367.0
431.5
64.5
1.75
1.65
0.012
including
1271.7
1412.0
140.3
387.6
430.4
42.8
2.37
2.25
0.013
enriched
1415.7
1695.0
279.3
431.5
516.6
85.1
1.38
1.11
0.031
including
1415.7
1495.0
79.3
431.5
455.7
24.2
2.87
2.61
0.028
primary
1695.0
1899.6
204.6
516.6
579.0
62.4
0.43
0.04
0.030
including
1845.0
1896.2
51.2
562.4
578.0
15.6
0.69
0.05
0.026
ECE-078
oxide
1293.0
1314.0
21.0
394.1
400.5
6.4
0.59
0.53
0.007
enriched
1324.0
1701.0
377.0
403.6
518.5
114.9
1.25
1.15
0.035
including
1354.0
1424.0
70.0
412.7
434.0
21.3
1.80
1.75
0.036
and
1494.0
1534.0
40.0
455.4
467.6
12.2
1.72
1.63
0.061
and
1594.0
1614.0
20.0
485.9
491.9
6.1
2.10
1.98
0.032
primary
1701.0
2043.0
342.0
518.5
622.7
104.2
0.31
0.04
0.017
including
1876.0
1975.1
99.1
571.8
602.0
30.2
0.45
0.03
0.019
ECN-128
oxide
996.7
1114.8
118.1
303.8
339.8
36.0
0.97
0.94
0.004
enriched
1182.6
1334.0
151.4
360.5
406.6
46.1
0.46
0.38
0.006
including
1182.6
1206.4
23.8
360.5
367.7
7.3
1.35
1.34
0.002
primary
1334.0
1987.4
653.4
406.6
605.8
199.2
0.40
0.03
0.008
including
1419.0
1469.0
50.0
432.5
447.8
15.2
0.55
0.04
0.021
and
1510.0
1629.0
119.0
460.2
496.5
36.3
0.58
0.04
0.009
and
1733.3
1752.3
19.0
528.3
534.1
5.8
1.60
0.10
0.007
S-68
(Historic ASARCO Drill Hole)
oxide
1,016.5
1,044.5
28.0
309.8
318.4
28.0
1.23
n/a
n/a
oxide
1,078.5
1,208.8
130.3
328.7
368.4
120.3
1.52
including
1,171.2
1,208.8
37.6
357.0
368.4
37.6
3.45
enriched
1,254.6
1,444.0
189.4
382.4
440.1
189.4
0.54
including
1,254.6
1,290.1
35.5
382.4
393.2
35.5
1.05
and
1,322.4
1,354.1
31.7
403.1
412.7
31.7
0.97
primary
1,444.0
1,526.0
82.0
440.1
465.1
82.0
0.45
- Intervals are presented in core length and are drilled with
very near vertical dip angles.
- Drill assays assume a mineralized cut-off grade of 0.5% CuT
reflecting the potential for heap leaching of underground material
in the case of Oxide and Enriched or in the case of Primary
material, 0.1% CuT, to provide typical average grades. Holes were
terminated below the basement fault.
- The enriched intercept in the NE Extension exploration hole
assumed a mineralized cut-off grade of 0.1% CuT to provide the
average grade of the tenor of mineralization.
- Assay results are not capped. Intercepts are aggregated within
geological confines of major mineral zones.
- True widths are not known.
- ASARCO did not assay for Soluble copper or for molybdenum
content. Please see PR dated November 20, 2020 for disclosures on
ASCU initiated relogging and re-assaying program.
Table 2: Drilling details
Hole
Easting (m)
Northing (m)
Elevation (ft)
TD (ft)
Azimuth
Dip
ECE-076
425200.0
3647680.0
1509.8
1930.0
358.0
-81.0
ECE-078
424096.5
3646888.0
1464.9
2093.0
359.0
-83.0
ECN-128
425200.0
3647680.0
1500.0
2013.6
0.0
-90.0
Quality Assurance / Quality Control
Drilling completed on the project between 2020 and 2022 was
supervised by on-site ASCU personnel who prepared core samples for
assay and implemented a full QA/QC program using blanks, standards,
and duplicates to monitor analytical accuracy and precision. The
samples were sealed on site and shipped to Skyline Laboratories in
Tucson AZ for analysis. Skyline’s quality control system complies
with global certifications for Quality ISO9001:2008.
Technical aspects of this news release have been reviewed and
verified by Allan Schappert – CPG #11758, who is a qualified person
as defined by National Instrument 43-101– Standards of Disclosure
for Mineral Projects.
Links from the Press Release
Figures 1-11:
https://arizonasonoran.com/projects/exploration/maps-and-figures/
November 30, 2020:
https://arizonasonoran.com/news-releases/elim-mining-verifies-and-releases-historic-assays/
Neither the TSX nor the regulating authority has approved or
disproved the information contained in this press release.
About Arizona Sonoran Copper Company (www.arizonasonoran.com |
www.cactusmine.com)
ASCU’s objective is to become a mid-tier copper producer with
low operating costs and to develop the Cactus and Parks/Salyer
Projects that could generate robust returns for investors and
provide a long term sustainable and responsible operation for the
community and all stakeholders. The Company's principal asset is a
100% interest in the Cactus Project (former ASARCO, Sacaton mine)
which is situated on private land in an infrastructure-rich area of
Arizona. Contiguous to the Cactus Project is the Company’s
100%-owned Parks/Salyer deposit that could allow for a phased
expansion of the Cactus Mine once it becomes a producing asset. The
Company is led by an executive management team and Board which have
a long-standing track record of successful project delivery in
North America complemented by global capital markets expertise.
Forward-Looking Statements
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of ASCU to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals.
Although ASCU has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. Forward-looking
statements contained herein are made as of the date of this news
release and ASCU disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230320005259/en/
For more information Alison Dwoskin, Director, Investor
Relations 647-233-4348 adwoskin@arizonasonoran.com
George Ogilvie, President, CEO and Director 416-723-0458
gogilvie@arizonasonoran.com
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