CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)--$ASCU.TO #TSX--Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, announces an additional 3 drill holes (6,440 feet | 1,960 metres) from its initial 12-hole exploration program at the Parks/Salyer (“P/S”) Project, while a new 80,000 ft (24,400 m) program is well-underway at the P/S Project (see FIGURES 1-3). The new drilling program tests the extents of the previously defined Exploration Target (see PR dated Feb 10, 22), from the southern border of P/S and in a north-eastern trend towards the Cactus Mine, at 500 ft centres. Assays are pending on an additional 12 holes.
- Drilling supports the upper end of the Exploration Target’s volumetric calculation below, currently defined to at least 1,500 ft by 2,000 ft and within 2 km from the Cactus Mine.
- 40-90 M tons of potential leachable material @ 1.05%- 1.3% TSol for potential of 1.0-2.35 B lbs of contained copper
- 8-35 M tons of potential primary material @ 0.85-1.05% CuT for 0.15-0.75 B lbs of contained copper
- ECP-079 together with ECP-061, confirms east-west continuity for 1,500 ft width. ECP-086 and ECP-092 logging results suggest an additional 1,000 ft of mineralization to the east for a potential width of 2,500 ft.
- ECP-79 – 479 ft @ 1.32% CuT, 0.90% TSol, 0.017% Mo (enriched)
- and 225 ft @ 0.96% CuT, 0.63% TSol, 0.039% Mo – Primary (cut off by Basement Fault)
- ECP-61 – 474 ft @ 0.89% CuT, 0.83% TSol, 0.026% Mo – (enriched)
- and 690 ft @ 0.33% CuT, 0.011% Mo – Primary
- ECP-68 – 324 ft @ 1.10% CuT, 0.96% TSol, 0.005% Mo – (enriched)
- and 753 ft @ 0.63% CuT, 0.016% Mo – Primary
- ECP-068 shows a thickening to the southeast of grades previously intersected in historic hole S-200
George Ogilvie, Arizona Sonoran President and CEO commented, “We are thrilled with the strength of copper grades and thicknesses at the P/S Project. As a result, the assays are pointing to the higher ends of the Exploration Target. With drilling on track to be complete by mid-July, the team should have a handle on the mineral resource potential at the P/S Project, as well as the Phase 1 modelling results of the NutonTM Technology metallurgical testing.
He continued, “Looking beyond our Cactus and P/S Property, the prolific Santa Cruz copper district has seen significantly activity in the past six months and our team is excited to be a leader in the redevelopment of the world class district.”
Geologic Description of Drilling Results at P/S
The Company’s 100%-owned Parks/Salyer Project is located 1.3 mi (2 km) down trend to the southwest of the Cactus Project on private land. The P/S Project is interpreted to represent a north trending horst block of porphyry copper mineralization similar in characteristics to that of Cactus West. Results to date at Parks/Salyer support that interpretation with mineral zonation also consistent with Cactus, containing oxide, chalcocite enrichment, and primary chalcopyrite-molybdenite mineralization (see FIGURES 1-3). Exploration drilling to date has been undertaken from the Company's southern property boundary northward along the northeasterly regional trend of known copper mineralization. Enriched mineralization has been consistently flat lying, extending through all holes drilled in this round of step out drilling, including another 500 ft west and 1,000 ft east of holes with assays reported so far. Primary mineralization is persistent at depth with thickness increasing to the northwest, consistently cut off by the Basement Fault.
TABLE 1: Drilling Highlights
- Intervals are presented in core length and are drilled with vertical dip angles.
- Drill assays assume a mineralized cut-off grade of 0.5% CuT reflecting the potential for heap leaching in the case of Oxide and Enriched based on underground material, or in the case of Primary material using a 0.1% CuT cutoff 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
Quality Assurance / Quality Control
Drilling completed on the project in 2020 and 2021 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
P/S Exploration Target announced Feb 10, 2022: https://arizonasonoran.com/news-releases/arizona-sonoran-drills-595-ft-181.4-m-of-1.29-cut-at-parks-salyer-and-increases-existing-private-land-package/
Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.
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. Contiguous to the Cactus Project the Company is also exploring on its 100% owned Park Salyer property 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 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.
Alison Dwoskin, Director, Investor Relations
George Ogilvie, President, CEO and Director