Casa Grande, AZ and Toronto, ON, January 16, 2024 – Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), is pleased to report infill drill assay results from the Parks/Salyer infill to measured program on the Cactus Project, Arizona. These 11 drill holes total 24,463 ft (7,456 m) of drilling (see FIGURES 1-16).
Additionally, infill and exploration drilling to the south of Parks/Salyer has resumed at MainSpring with three drills, building on the 11- hole program undertaken in late 2023. The MainSpring drill program is testing the near surface southern extension of the Parks/Salyer deposit which lies some 1,500 ft (457 m) to the north. Assays from 4 of these core holes were reported in PR dated Nov 20, 2023, while results from the remaining 7 core holes are still pending.
Drilling Highlights:
- ECP-178: 521 ft (159 m) @ 1.78% CuT, 1.61% Cu TSol, 0.011% Mo (enriched)
- Incl 220 ft (67 m) @ 2.67% CuT, 2.53% Cu TSol, 0.013% Mo
- ECP-184: 801 ft (244 m) @ 1.01% CuT, 0.76% Cu TSol, 0.011% Mo (enriched)
- 721 ft (220 m) @ 1.02% CuT, 0.75% Cu TSol, 0.011% Mo (enriched)
- Incl 133 ft (40 m) @ 1.64% CuT, 1.49% Cu TSol, 0.014% Mo
- ECP-180: 884 ft (269 m) @ 0.91% CuT, 0.77% Cu TSol, 0.007% Mo (enriched) of continuous mineralization
- 653 ft (199 m) @ 1.10% CuT, 0.91% Cu TSol, 0.008% Mo (enriched)
- Incl 148 ft (45 m) @ 1.81% CuT, 1.38% Cu TSol, 0.013% Mo
- ECP-173: 1,085 ft (331 m) @ 0.97% CuT of continuous mineralization
- 492 ft (150 m) @ 1.46% CuT, 1.21% Cu TSol, 0.009% Mo (enriched)
- Incl 256 ft (78 m) @ 2.25% CuT, 2.09% Cu TSol, 0.005% Mo
- 593 ft (181 m) @ 0.55% CuT, 0.009% Mo (primary)
- ECP-174: 925 ft (282 m) @ 0.83% CuT of continuous mineralization
- 530 ft (162 m) @ 1.17% CuT, 1.11% Cu TSol, 0.017% Mo (enriched)
- ECP-181: 742 ft (226 m) @ 0.99% CuT of continuous mineralization
- 536 ft (163 m) @ 1.12% CuT, 1.00% Cu TSol, 0.009% Mo (enriched)
- Incl. 168 ft (51.2 m) @ 2.08% CuT, 1.86% Cu TSol, 0.014% Mo
- ECP-175: 1,001 ft (305 m) @ 1.04% CuT of continuous mineralization
- 374 ft (114 m) @ 1.49% CuT, 1.38% Cu TSol, 0.010% Mo (enriched)
- ECP-170: 519 ft (158 m) @ 1.24 % CuT of continuous mineralization
- 362 ft (110 m) @ 1.49% CuT, 1.41% Cu TSol, 0.010% Mo (enriched)
- Incl. 134 ft (41 m) @ 2.40% CuT, 2.32% Cu TSol, 0.006% Mo
- ECP-176: 718 ft (219 m) @ 0.83% CuT of continuous mineralization
- 511 ft (156 m) @ 1.03% CuT, 0.84% Cu TSol, 0.021% Mo (enriched)
NOTE: True widths are not known
George Ogilvie, Arizona Sonoran President and CEO commented, “We look forward to integrating the thick and high-grade Parks/Salyer porphyry copper deposit into our Prefeasibility Study due out this quarter. Having completed the Parks/Salyer drilling in support of the indicated category, and a partial program in support of the measured category for a future Definitive Feasibility Study, we look forward to demonstrating the exploration upside of our Cactus Project. In 2024, our exploration teams will expand the definition of the primary sulphides, in addition to the oxides and enriched material at our MainSpring and Cactus West projects, presenting a significant potential for the Company.”
Drilling Recap
Infill drilling at Parks/Salyer focused on expanding the high-grade core areas on the east side of the orebody, defined by earlier infill drilling as shown in FIGURE 1. The eastern side of Parks/Salyer hosts thick intercepts of covellite-rich mineralization that straddles the boundary between the enriched and primary zones, highlighted by the elevated total copper and soluble copper grades shown in this new drilling. As shown in Table 1, these intercepts include excellent thicknesses of higher grades in both the enriched and primary zones, which were suggested by previous drilling but are becoming better defined by additional infill drilling (see cross section A-A' in FIGURE 2).
Drill holes ECP-140 and ECP-178 were drilled as oriented core holes to assist in the geotechnical evaluation of Parks/Salyer for the pending Prefeasibility Study.
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 0.50% CuT reflecting the potential for heap leaching of underground 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
Table 2: Drilling details
Quality Assurance / Quality Control
Drilling completed on the project between 2020 and 2023 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 1-16: https://arizonasonoran.com/projects/cactus-mine-project/press-release-images/
November 20, 2023: https://arizonasonoran.com/news-releases/arizona-sonoran-exploration-drilling-intersects-near-surface-mineralization-2-500-ft-762-m-south-of-parks-salyer/
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
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.