Casa Grande, AZ and Toronto, ON, January 10, 2024 – Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), reports additional drill assay results from the Cactus West and Cactus East deposits within the Cactus Project, Arizona. A total of 9 drill holes were completed for a total of 18,215 ft (5,552 m) supporting the 125 ft (38 m) infill-to-measured and geotechnical drilling programs (see FIGURES 1 – 12).
Thick and high-grade total copper (“CuT”) and soluble copper (“Cu TSol”) intervals within this Cactus East measured drilling (125 ft | 38 m drill centres) remains consistent with indicated drilling results from the 2023 updated mineral resource.
At Cactus West, infill and geotechnical drilling returned wide intervals of primary copper mineralization both below and at the extents of the Cactus West mineral resource shell. The encouraging results support the need for an expanded Cactus West infill and exploration drill program as per the Nuton LLC Joint Venture press release (see PR Dec 14, 2023). ASCU is currently finalizing the 2024 work plan, which will include follow up drilling at Cactus West and MainSpring, and metallurgical test work for the Nuton Case Integrated Pre-feasibility Study. The Nuton case PFS will build upon ASCU’s Standalone PFS expected in Q1 2024.
Drilling Highlights:
- ECE-177: 730.7 ft (223 m) @ 0.92 % CuT of continuous mineralization
- 417 ft (127 m) @ 1.34% CuT, 1.27% Cu TSol, 0.031% Mo (enriched)
- Incl 55 ft (17 m) @ 2.03% CuT, 1.97% Cu TSol, 0.025% Mo
- 265 ft (81 m) @ 0.36% CuT, 0.028% Mo (primary)
- ECW-150: 1,416 ft (432 m) @ 0.45% CuT of continuous mineralization
- 168 ft (51 m) @ 0.62% CuT, 0.51% Cu TSol, 0.006% Mo (enriched)
- 1,174 ft (358 m) @ 0.43% CuT, 0.011% Mo (primary)
- Incl. 674.5 ft (205 m) @ 0.40% CuT, 0.10% Mo primary mineralization extending below the reported resource pit extents
- ECE-179: 670 ft (204 m) @ 0.78% CuT of continuous mineralization
- 287 ft (88 m) @ 1.37% CuT, 1.30% Cu TSol, 0.033% Mo (enriched)
- Incl 108 ft (33 m) @ 1.78% CuT, 1.72% Cu TSol, 0.042% Mo
- ECE-185: 881 ft (269 m) @ 0.52% CuT of continuous mineralization
- 436 ft (133 m) @ 0.80% CuT, 0.76% Cu TSol, 0.006% Mo (enriched)
- ECW-151: 1,496 ft (456 m) @ 0.24% CuT of continuous mineralization from 110 ft (33 m) downhole
- 1,319 ft (402 m) @ 0.24% CuT, 0.003% Mo (primary)
- ECW-153: 935 ft (285 m) @ 0.25% CuT, 0.012% Mo (primary)
- ECW-154: 1,589 ft (484 m) @ 0.19% CuT of continuous mineralization
NOTE: True widths are not known; Cactus West = ECW, Cactus East = ECE
George Ogilvie, Arizona Sonoran President and CEO commented, “The infill to measured drilling supports the updated Mineral Resource Estimate that we released in October 2023. This measured infill drilling bodes well for future updates to the Mineral Resource Estimate (MRE) and Definitive Feasibility Studies, planned following the release of our Stand Alone PFS in 1Q24. Specific to Cactus East it was encouraging to see an extension of the leachable mineralization to the northeast, representing potential future mineral resource growth.
We were particularly intrigued by the results from Cactus West, host to the majority of the primary resources within the Cactus MRE. At Cactus West, we continued to drill primary mineralization for an additional 674 ft (205 m) below the existing pit-shell demonstrating more opportunities for future resource growth along the mine trend. Given the recent signing of the “Nuton Option to Joint Venture Agreement” and the new focus on the primary sulphides with our JV partner on a go forward basis, we anticipate unlocking additional value for the shareholders of the Company.”
Drilling Recap
Cactus East
Two of the three core holes drilled at Cactus East were infill-to-measure planned drillholes. The third hole (ECE-185) was drilled to test the northern extent of mineralization of the main Cactus East deposit along an interpreted fault-controlled bedrock ridge. This drillhole successfully intercepted a thick zone of moderate grade oxide mineralization before entering enriched and primary sulphides.
Cactus West
Six angled core holes from the proposed infill-to-measured drill program were drilled around the perimeter of the Cactus West Pit in support of our geotechnical program for proposed expansion of the pit in the mine plan. These holes were targeted specifically to provide geotechnical information, in addition to infill drilling toward measured leachable resources at Cactus West. Their locations also provided the opportunity to test primary mineralization at depth which had not been the focus of previous drilling programs. In addition to the known resource mineralization, hole ECW-150 intercepted an additional 674.2 ft (205 m) of primary mineralization grading 0.4% CuT, within the total interval of 1,174.2 ft (358 m) @ 0.43% CuT.
TABLE 1: Significant Drilling Intercepts (Cactus East “ECE” and Cactus West “ECW”)
1. Intervals are presented in core length and are drilled vertically, or with dip angles from -80 to -60 degrees.
2. Drill assays assume a mineralized cut-off grade of 0.1% CuT reflecting the potential for heap leaching of openpit material in the case of Oxide and Enriched or 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
Note: Drill locations are based on drill plans and hand-held GPS locators and may be adjusted slightly when properly surveyed.
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
PR Dated December 14, 2023: https://arizonasonoran.com/news-releases/arizona-sonoran-and-nuton-llc-announce-option-to-joint-venture-on-cactus-project-in-arizona/
Figures 1-12: https://arizonasonoran.com/projects/cactus-mine-project/press-release-images/
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.