Arizona Sonoran Copper Company Inc. (TSX:ASCU |
OTCQX:ASCUF) (“ASCU” or the “Company”) infill drilling at the
Parks/Salyer (“P/S”) Project continues to demonstrate grades and
thicknesses supportive of an underground operation within the
planned Prefeasibility Study, expected by Q1 2024. The Company is
announcing an additional 9 drill hole assays from the Parks/Salyer
infill to indicated program, spaced at 250 ft (76 m). A total of 45
infill drill holes are now complete, from within the 46-hole,
105,000 ft (32,000 m) planned program. Parks/Salyer (“P/S”) is
located on private land, contiguous to the Cactus Mine Project, in
Pinal County, Arizona (see FIGURES 1-10).
Highlights:
- ECP-122: 546.5 ft (166.6 m) @ 1.14% CuT, 1.00% Cu TSol,
0.007% Mo (enriched)
- Incl 176.5 ft (53.8 m) @ 2.03% CuT, 1.88% Cu TSol, 0.005%
Mo
- ECP-125: 545.2 ft (166.2 m) @ 1.09% CuT, 0.99% Cu TSol,
0.020% Mo (enriched)
- Incl. 217.0 ft (66.1 m) @ 1.75% CuT, 1.66% Cu TSol, 0.009%
Mo
- 635.5 ft (193.7 m) @ 0.46% CuT, 0.018% Mo (primary)
- ECP-114: 463.5 ft (141.3 m) @ 1.14% CuT, 0.98% Cu TSol,
0.028% Mo (enriched)
- ECP-116: 570.0 ft (173.7 m) @ 0.86% CuT, 0.64% Cu TSol,
0.015% Mo (enriched)
- ECP-124: 361.8 ft (110.3 m) @ 1.14% CuT, 1.06% Cu TSol,
0.007% Mo (enriched)
- Incl. 179.8 ft (54.8 m) @ 1.87% CuT, 1.79% Cu TSol, 0.010%
Mo
- ECP-119: 89.9 ft (27.4 m) @ 2.31% CuT, 2.21% Cu TSol, 0.011%
Mo (enriched)
- 66.2 ft (20.2 m) @ 2.07% CuT, 2.02% Cu TSol, 0.012% Mo
(oxide)
- Incl. 14.1 ft (4.3 m) @ 4.07% CuT, 4.05% Cu TSol, 0.017%
Mo
NOTE: True widths are not known
George Ogilvie, Arizona Sonoran President and CEO
commented, “In early 2022, we announced our first drill holes
dedicated to defining the Parks/Salyer Project. We have advanced
this greenfield parcel within the brownfield Cactus Property from
discovery, through resource declaration of 2.9B lbs (@1.015% CuT),
to PFS-level within only two years. The infill to indicated program
will be complete this week and by end of May, we expect to have all
assays in hand for use in declaring initial reserves in the PFS by
1Q24.
He continued, “Once the infill to indicated drilling is complete
the drills will continue drilling at Parks/Salyer as we move to
infill to measured drilling, a requirement for our BFS in
2024.”
Infill Drilling Program Recap
High grade intervals from drill holes ECP-114, ECP-116 and
ECP-125 each illustrate significant grade thicknesses, consistent
with the high-grade core initially identified by the original step
out program and further delineated by the infill drilling program.
In particular, ECP-125 extends the high-grade core southward
towards the newly acquired MainSpring Property. Drill holes
ECP-121, ECP-123, ECP-119, ECP-116, ECP-120 and ECP-122 were
drilled to define the northern and eastern extents of the deposit
itself, where thinner intercepts of similar grade reflect the
structural thinning of the core by post mineral faulting, including
the Basement Fault. Assays pending from the remainder of the
program have focused mostly within the western side of the deposit,
defining the area around ECP-065 with 439.7 ft @ 0.97% Cu TSol and
0.033% Mo (press release dated April 5, 2022).
The 105,000 ft (32,000 m) infill drilling program is aimed at
upgrading the mineral resource to the indicated category in support
of the potential declaration of maiden reserves in the upcoming
Pre-Feasibility. To date, 63,795 ft (19,445 m) or 29 holes have
been reported via press release, defining a core within the
high-grade enrichment blanket within the eastern half of the
deposit, extending westward along the southern portion of the
deposit.
Chalcocite and covellite are the dominant copper species in the
enrichment blanket, replacing primary pyrite and chalcopyrite in
their original depositional habits, such as veins, breccia
fillings, voids and disseminations. These replacements styles,
shown in FIGURES 1-10, 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: Parks/Salyer Drilling Highlights
Hole Id
Zone
Feet
Metres
CuT
%
TSol
%
Mo
%
From
To
Length
From
To
Length
ECP-114
enriched
1,288.0
1,321.2
33.2
392.6
402.7
10.1
3.08
2.84
0.021
enriched
1,392.0
1,437.3
45.3
424.3
438.1
13.8
3.43
2.90
0.026
enriched
1,534.0
1,997.5
463.5
467.6
608.8
141.3
1.14
0.98
0.028
including
1,534.0
1,554.0
20.0
467.6
473.7
6.1
1.76
1.64
0.013
and
1,680.0
1,743.0
63.0
512.1
531.3
19.2
1.70
1.62
0.022
and
1,913.0
1,997.5
84.5
583.1
608.8
25.8
1.46
1.34
0.041
primary
1,997.5
2,233.3
235.8
608.8
680.7
71.9
0.28
0.02
0.021
ECP-116
oxide
1,454.0
1,481.6
27.6
443.2
451.6
8.4
0.74
0.71
0.010
enriched
1,481.6
2,051.6
570.0
451.6
625.3
173.7
0.86
0.64
0.015
including
1,492.0
1,578.0
86.0
454.8
481.0
26.2
1.24
1.17
0.015
and
1,878.0
1,938.0
60.0
572.4
590.7
18.3
1.21
1.09
0.011
and
1,972.0
2,051.6
79.6
601.1
625.3
24.3
1.24
1.10
0.015
primary
1,965.0
2,220.6
255.6
598.9
676.8
77.9
0.23
0.02
0.009
ECP-119
oxide
1,488.1
1,524.1
36.0
453.6
464.5
11.0
1.28
1.27
0.012
enriched
1,524.1
1,614.0
89.9
464.5
491.9
27.4
2.31
2.21
0.011
oxide
1,650.0
1,716.2
66.2
502.9
523.1
20.2
2.07
2.02
0.012
including
1,702.1
1,716.2
14.1
518.8
523.1
4.3
4.07
4.05
0.017
enriched
1,849.2
1,879.0
29.8
563.6
572.7
9.1
0.50
0.43
0.013
primary
1,879.0
2,358.1
479.1
572.7
718.7
146.0
0.24
0.03
0.004
ECP-120
enriched
1,562.0
1,610.8
48.8
476.1
491.0
14.9
0.66
0.66
0.003
enriched
1,814.0
1,936.7
122.7
552.9
590.3
37.4
1.63
1.56
0.016
including
1,894.0
1,934.0
40.0
577.3
589.5
12.2
1.94
1.82
0.028
ECP-121
oxide
1,288.0
1,425.4
137.4
392.6
434.5
41.9
1.03
1.01
0.009
including
1,318.0
1,338.0
20.0
401.7
407.8
6.1
2.30
2.29
0.007
oxide
1,467.0
1,499.0
32.0
447.1
456.9
9.8
0.64
0.57
0.003
enriched
1,510.7
1,537.0
26.3
460.5
468.5
8.0
0.91
0.85
0.003
primary
1,537.0
1,953.0
416.0
468.5
595.3
126.8
0.17
0.05
0.001
including
1,537.0
1,628.0
91.0
468.5
496.2
27.7
0.32
0.08
0.001
ECP-122
enriched
1,264.5
1,811.0
546.5
385.4
552.0
166.6
1.14
1.00
0.007
including
1,264.5
1,441.0
176.5
385.4
439.2
53.8
2.03
1.88
0.005
ECP-123
oxide
1,207.0
1,223.0
16.0
367.9
372.8
4.9
0.79
0.78
0.014
oxide
1,259.9
1,314.3
54.4
384.0
400.6
16.6
1.25
1.22
0.014
oxide
1,632.3
1,652.0
19.7
497.5
503.5
6.0
0.65
0.64
0.004
enriched
1,652.0
1,798.0
146.0
503.5
548.0
44.5
0.84
0.82
0.009
including
1,676.8
1,741.4
64.6
511.1
530.8
19.7
1.13
1.12
0.008
primary
1,798.0
2,278.1
480.1
548.0
694.4
146.3
0.24
0.03
0.005
including
1,875.0
1,925.5
50.5
571.5
586.9
15.4
0.45
0.04
0.004
and
1,960.8
1,975.4
14.6
597.7
602.1
4.5
0.75
0.09
0.003
and
2,087.0
2,107.0
20.0
636.1
642.2
6.1
0.53
0.04
0.006
ECP-124
oxide
1,152.0
1,182.0
30.0
351.1
360.3
9.1
1.40
1.36
0.011
enriched
1,219.2
1,581.0
361.8
371.6
481.9
110.3
1.14
1.06
0.007
including
1,219.2
1,399.0
179.8
371.6
426.4
54.8
1.87
1.79
0.010
primary
1,581.0
2,411.0
830.0
481.9
734.9
253.0
0.13
0.02
0.004
including
1,747.9
1,770.0
22.1
532.8
539.5
6.7
0.40
0.05
0.003
and
1,891.0
1,912.3
21.3
576.4
582.9
6.5
0.50
0.04
0.013
ECP-125
oxide
559.0
697.3
138.3
170.4
212.5
42.2
0.76
0.73
0.007
including
586.0
616.0
30.0
178.6
187.8
9.1
1.68
1.64
0.006
enriched
814.8
1,360.0
545.2
248.4
414.5
166.2
1.09
0.99
0.020
including
1,097.0
1,314.0
217.0
334.4
400.5
66.1
1.75
1.66
0.009
primary
1,360.0
1,995.5
635.5
414.5
608.2
193.7
0.46
0.04
0.018
including
1,383.0
1,543.0
160.0
421.5
470.3
48.8
0.71
0.06
0.034
and
1,573.0
1,603.0
30.0
479.5
488.6
9.1
0.65
0.04
0.016
- 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.
- Assay results are not capped. Intercepts are aggregated within
geological confines of major mineral zones.
- True widths are not known.
Table 2: Drilling details
Hole
Easting (m)
Northing (m)
Elevation (ft)
TD (ft)
Azimuth
Dip
ECP-114
421986.7
3645197.6
1384.6
2252.4
0.0
-90.0
ECP-116
422068.4
3645179.0
1386.2
2213.7
0.0
-90.0
ECP-119
421965.5
3645345.6
1387.2
2406.0
0.0
-90.0
ECP-120
422144.8
3645025.3
1381.3
1949.2
0.0
-90.0
ECP-121
421571.6
3645335.8
1383.3
2477.0
0.0
-90.0
ECP-122
422144.9
3644938.2
1379.0
1857.6
0.0
-90.0
ECP-123
421887.3
3645337.1
1385.3
2377.0
0.0
-90.0
ECP-124
421537.7
3645273.4
1379.7
2434.2
0.0
-90.0
ECP-125
421747.5
3644794.8
1367.0
2039.4
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 1-10:
https://arizonasonoran.com/projects/exploration/maps-and-figures/
Press release April 5, 2022:
https://arizonasonoran.com/news-releases/arizona-sonoran-park-salyer-drilling-intercepts-302.0-ft-1.23-cut-0.021-mo-including-10.0-ft-7.95-cut-0.112-mo/
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/20230327005269/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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