Casa Grande, AZ and Toronto, ON, March 28, 2022 – Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer is pleased to announce that the Arizona Department of Environmental Quality ("ADEQ") has granted its Cactus Mine an amended Aquifer Protection Permit (“APP”). On July 29, 2021, the Company was granted an APP for the Stockpile Project, which has now been amended to add the Cactus Mine open pit and underground operations to the Stockpile Project.
Arizona Sonoran Copper Company Chief Operating Officer, Ian McMullan commented, “The issuance of this permit is a key milestone for ASCU in advancing the re-start of operations at the Cactus Mine and further de-risking of the project. Our team worked closely with ADEQ to obtain the amended permit within expected timelines and to ensure that our anticipated future operation will meet environmental laws and regulations. As we advance our technical studies and near a construction decision, we are poised to benefit from this bullish copper cycle fueled by the global transition to a green economy."
The ADEQ is Arizona’s lead agency for the regulation of groundwater quality. APPs are a key component of the agency’s safeguards for the protection of groundwater. The APP permit program establishes specific discharge limits and monitoring, as well as reporting requirements. The program also evaluates and requires special measures to protect human health and the environment from harmful pollutants. In granting the permit, ADEQ determined that ASCU’s plans to re-activate the mine (located 4km west of Casa Grande) were in line with standards to protect the groundwater and met all applicable state and federal rules and regulations. The amended APP permit has been granted subject to demonstration of applicable surety posting (required to be in place prior to commencement of construction).
Other key permits such as the Mined Land Reclamation Permit will be applied for after completing final engineering and will be closely followed by construction and industrial permits (following making a positive construction decision), anticipated in the next 12 months.
The Cactus Mine NI 43-101 technical report is available on www.sedar.com or the Company's website at www.arizonasonoran.com.
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, develop the Cactus Project 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. 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:
Adam Hawkins, Communities & Local Media Inquiries
Alison Dwoskin, Director, Investor Relations
George Ogilvie, President and CEO
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.