Casa Grande, AZ and Toronto, ON, April 29, 2024 – Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) reports the completion of its inferred drilling program on MainSpring, within the 100%-owned Cactus Project, Arizona. The inferred drilling program confirms a continuation of the thick enrichment blanket extending south and up dip from the Parks/Salyer deposit onto MainSpring, as well as the presence of enriched mineralization in MainSpring (see FIGURES 1-12). With the final receipt of assays, a MainSpring mineral resource model is now being generated for its inclusion to the integrated Nuton and Cactus Preliminary Economic Assessment (“PEA”) expected in Q3 2024.
The completed program at 500 ft (152 m) centres between drill holes, extended mineralization over 2,500 ft x 3,000 ft (762 m x 914 m) within an interpreted horst block. The final 10 holes (17,916 ft | 5,460 m) from the now completed inferred program are reported herein. Two drills are now infill drilling at Cactus West within the primary sulphide zones, and one rig is focused on reducing drill spacings at MainSpring from inferred to indicated for use in an updated Prefeasibility Study which is scheduled to initiate later this year.
Highlights:
- In support of a single mineral resource model, the drill program successfully connected the high grade thick enriched Parks/Salyer mineralization and the shallow lower grade MainSpring mineralization
- *ECM-218: 1,206 ft (368 m) @ 0.56% CuT of continuous mineralization
- *Incl 290 ft (88 m) @ 0.95% CuT, 0.56% Cu TSol, 0.088% Mo (enriched)
- And 676 ft (206 m) @ 0.46% CuT, 0.012% Mo (primary)
- ECM-215: 1,430 ft (436 m) @ 0.32% CuT of continuous mineralization
- Incl 388 ft (118 m) @ 0.50% CuT, 0.34% Cu TSol, 0.012% Mo (enriched)
- And 662 ft (202 m) @ 0.26% CuT, 0.003% Mo (primary)
- ECM-222: 965 ft (294m) @ 0.42% CuT of continuous mineralization
- Incl 127 ft (39 m) @ 1.12% CuT, 0.88% Cu TSol, 0.025% Mo (enriched)
- And 837 ft (255 m) @ 0.31% CuT, 0.005% Mo (primary)
- ECM-213: 25 ft (8 m) @ 1.18% CuT, 1.13% Cu TSol, 0.003% Mo (oxide), from 137 ft (42 m)
NOTE: True widths are not known; * Interval includes 2.2 ft (0.67 m) of missing core
George Ogilvie, Arizona Sonoran President and CEO commented, “Drilling has performed extremely well for the Company, outlining a new zone of copper mineralization and extending the enrichment blanket by another 3,000 ft (914 m) to the south of our already significant Parks/Salyer project. Most importantly the MainSpring mineralization is near surface in the South, gradually plunging with advancement to the North, until it connects into the Parks/Salyer ore deposit. Our team will explore the potential of introducing a new open pit within the property bounds around MainSpring within the PEA expected in Q3 2024; at this point, ASCU is well underway in generating the MainSpring mineral resource estimate for its inclusion. The new PEA will build upon the February 2024 PFS, integrating MainSpring as well as the primary sulphides which utilize the NutonTM technologies within the heap leach and SX/EW flow sheet.
“We believe the MainSpring results will continue to demonstrate the scalability of Cactus, reinforcing the Project as a highly compelling emerging copper developer within a Tier 1 location.”
Drilling and Geology Recap
The inferred drill program at MainSpring on 500 ft (152 m) drill hole spacing was designed to follow up on the evaluation of legacy drill data. The program tested for both near-surface copper mineralization in the southern MainSpring area and for the shallowing continuation of the high-grade Parks/Salyer deposit in the northern gap between Parks/Salyer and MainSpring. All holes were drilled completely through the copper mineralization hosted by Laramide intrusive monzonite porphyry and Precambrian Oracle Granite, to the basement fault zone and into the underlying barren basement rocks dominantly composed of Pinal Schist, with lesser meta-granite, meta-volcanic, gneiss and quartzite. This was done to test both supergene enrichment mineralization and primary mineralization below it.
The program confirmed several things, including:
- The presence of shallow supergene enriched mineralization with primary copper mineralization beneath the enrichment zones in the MainSpring area.
- The continuation of thick high-grade enriched mineralization with primary copper mineralization beneath it trending southward from the Parks/Salyer deposit through the gap zone and into the southern MainSpring area.
- Supergene enriched and primary mineralization trends are open to the west of the completed inferred drilling pattern.
The indicated drilling program, which commenced immediately following the inferred drilling program, will first infill the shallowest mineralization zones to 250 ft (76 m) drill hole spacing. The drilling will move northward to infill the gap between MainSpring and Parks/Salyer to the indicated level.
TABLE 1: Significant Drilling Intercepts
1. Intervals are presented in core length and are drilled with vertical, or steep dip angles.
2. Drill assays assume a mineralized cut-off grade of 0.1% CuT reflecting the potential for heap leaching of open pit material in the case of Oxide and Enriched and 0.1% CuT, in the case of Primary material, to provide typical average grades. Holes were terminated below the basement fault.
3. Assay results are not capped. Intercepts are aggregated within geological confines of major mineral zones.
4. True widths are not known.
5. * Indicates interval includes missing core. Missing core intervals ranged in length from 2.2 ft (0.67 m) to 5.1 ft (1.55 m).
Table 2: Drilling details
Note: All collar coordinates were surveyed using high precision GPS by Harvey Land Surveying Inc.
Quality Assurance / Quality Control
Drilling completed on the project between 2020 and 2024 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 sample prep, analytical methodologies, and 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 1-12: https://arizonasonoran.com/projects/exploration/maps-and-figures/
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.
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
Forward-Looking Statements
This news release contains “forward-looking statements” and/or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expect”, “is expected”, “in order to”, “is focused on” (a future event), “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, or the negative connotation thereof. In particular, statements regarding ASCU’s future operations, future exploration and development activities or other development plans constitute forward-looking statements. By their nature, statements referring to mineral reserves or mineral resources constitute forward-looking statements. Forward-looking statements in this news release include, but are not limited to statements with respect to the results (if any) of further exploration work; the mineral resources and mineral reserves estimates of the Cactus Project (and the assumptions underlying such estimates); the ability of exploration work (including drilling) to accurately predict mineralization; the timing and ability of ASCU to produce a preliminary economic assessment (including the MainSpring property) (if at all); the timing and ability of ASCU to produce the Nuton Case PFS (if at all); the scope of any future technical reports and studies conducted by ASCU; and any other information herein that is not a historical fact. 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 and the additional risks described in ASCU’s most recently filed Annual Information Form, annual and interim management’s discussion and analysis, copies of which are available on SEDAR+ (www.sedarplus.ca) under ASCU’s issuer profile.
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.