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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Arizona Sonoran Copper Company Inc | TSX:ASCU | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.01 | -0.70% | 1.41 | 1.41 | 1.42 | 1.42 | 1.39 | 1.41 | 65,798 | 20:59:08 |
Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging copper developer and near-term producer, drills initial 13 infill holes from the high grade core of the Parks/Salyer deposit demonstrating continuity of grade and mineralized widths at 125 ft (38 m) drill spacing (see FIGURES 1-15). A total of 29,036 ft (8,850.2 m) has now been drilled within the overall 105,000 ft (32,000 m) infill to measured drilling program over the Cactus Project deposits. This program is being undertaken to upgrade parts of the current mineral resources to the measured category for a definitive feasibility study (“DFS”) in late 2024.
Drilling Highlights:
- Drilling replicating high grade-thicknesses from prior drill programs, including 5 new intervals in the top 10 grade thickness intervals at Parks/Salyer (see FIGURE 4)
- In July and August, 2 drill rigs focused in the eastern section, interpreted to be the high grade core of the deposit
- ECP-145: 937 ft (285.8 m) @ 1.41% CuT of continuous mineralization
- ECP-147: 1,023 ft (312 m) @ 1.05% CuT of continuous mineralization
- ECP-162: 1,132 ft (344.9 m) @ 1.23% CuT of continuous mineralization
- ECP-169: 880.2 ft (268.3 m) @ 1.13% CuT of continuous mineralization
- ECP-152: 1,011 ft (308.2 m) @ 0.78% CuT of continuous mineralization
NOTE: True widths are not known, see PR dated September 28, 2022 for the P/S mineral resource
George Ogilvie, Arizona Sonoran President and CEO commented, “The team continues to execute and deliver solid results as we advance our Cactus and Parks/Salyer projects. The proven continuity of the Parks/Salyer mineralization within the deposit continues to support our vision of a top tier asset within a tier 1 jurisdiction. Additionally, with the recent option of MainSpring, the Parks/Salyer southern extension, we see a tremendous opportunity to continue building the Parks/Salyer mineral resource beyond the current 2.9 billion pounds at 1.015% total copper inferred resource.”
Drilling Recap
A total of 26 infill-to-measured core holes (of a planned 47-hole program) have been drilled at 125 ft (38m) drill centers in the eastern half of the Parks/Salyer mineral resource area since April 1st, 2023. We continue to focus on defining the high-grade core of the mineral resource, with encouraging and consistent intervals of mineralization as the geological team continues to work toward completing the drilling that will be needed for a measured resource for the Definitive Feasibility Study in 2024. As shown in FIGURE 4, holes ECP-145 and ECP-162 demonstrate the overall continuity of width and grade predicted by the earlier 250 ft (76m) infill-to-indicated drill program, especially in the center of the previously defined thicker areas of higher grade copper, where both thickness and average grades continue to be defined by the latest infill drilling. Completed drilling that is pending results will help to further define the characteristics and boundaries of these two high grade centers of mineralization.
TABLE 1: Parks/Salyer Drilling Highlights
Hole Id
Zone
Feet
Metres
Grade
From
To
Length
From
To
Length
CuT
TSol
Mo
ECP-132
oxide
1,535.5
1,586.9
51.4
468.0
483.7
15.7
0.95
0.94
0.011
enriched
1,586.9
1,816.0
229.1
483.7
553.5
69.8
1.02
0.95
0.007
including
1,586.9
1,634.7
47.8
483.7
498.3
14.6
1.52
1.45
0.012
and
1,678.0
1,708.0
30.0
511.5
520.6
9.1
1.24
1.20
0.005
and
1,752.6
1,804.0
51.4
534.2
549.9
15.7
1.17
1.03
0.005
primary
1,816.0
2,246.0
430.0
553.5
684.6
131.1
0.21
0.02
0.004
including
1,843.0
1,896.0
53.0
561.7
577.9
16.2
0.36
0.05
0.002
ECP-138
enriched
1,041.4
1,159.0
117.6
317.4
353.3
35.8
1.58
1.54
0.010
including
1,068.0
1,108.0
40.0
325.5
337.7
12.2
2.52
2.51
0.007
enriched
1,268.0
1,313.3
45.3
386.5
400.3
13.8
0.96
0.93
0.028
enriched
1,376.2
1,497.7
121.5
419.5
456.5
37.0
1.00
0.78
0.016
including
1,386.0
1,451.0
65.0
422.5
442.3
19.8
1.39
1.30
0.016
primary
1,497.7
2,115.8
618.1
456.5
644.9
188.4
0.49
0.05
0.013
including
1,597.0
1,657.3
60.3
486.8
505.1
18.4
0.65
0.07
0.016
and
1,798.5
2,008.3
209.8
548.2
612.1
63.9
0.69
0.05
0.020
ECP-145
enriched
1,064.0
1,703.0
639.0
324.3
519.1
194.8
1.78
1.37
0.016
including
1,074.0
1,152.0
78.0
327.4
351.1
23.8
4.10
2.96
0.013
primary
1,703.0
2,001.5
298.5
519.1
610.1
91.0
0.62
0.05
0.033
including
1,703.0
1,733.0
30.0
519.1
528.2
9.1
0.96
0.09
0.010
and
1,852.0
1,882.0
30.0
564.5
573.6
9.1
0.86
0.07
0.020
ECP-147
enriched
1,000.3
1,936.0
935.7
304.9
590.1
285.2
1.02
0.63
0.014
including
1,145.0
1,347.0
202.0
349.0
410.6
61.6
2.03
1.28
0.016
and
1,397.0
1,427.0
30.0
425.8
434.9
9.1
1.75
1.29
0.021
primary
1,936.0
2,024.0
88.0
590.1
616.9
26.8
0.62
0.05
0.013
ECP-152
oxide
1,042.0
1,062.3
20.3
317.6
323.8
6.2
1.00
0.97
0.018
enriched
1,272.0
1,946.7
674.7
387.7
593.4
205.6
1.00
0.94
0.020
including
1,293.4
1,419.0
125.6
394.2
432.5
38.3
2.18
2.13
0.017
and
1,674.0
1,724.0
50.0
510.2
525.5
15.2
1.33
1.31
0.028
and
1,892.0
1,916.0
24.0
576.7
584.0
7.3
1.68
1.65
0.032
primary
1,946.7
2,283.0
336.3
593.4
695.9
102.5
0.35
0.04
0.016
including
1,946.7
2,075.0
128.3
593.4
632.5
39.1
0.54
0.05
0.017
ECP-155
oxide
1,072.0
1,140.0
68.0
326.7
347.5
20.7
0.72
0.70
0.018
oxide
1,223.5
1,315.0
91.5
372.9
400.8
27.9
0.87
0.85
0.018
enriched
1,315.0
1,887.6
572.6
400.8
575.3
174.5
1.04
0.92
0.023
including
1,322.0
1,347.0
25.0
402.9
410.6
7.6
2.20
2.17
0.031
and
1,510.0
1,620.0
110.0
460.2
493.8
33.5
1.29
1.06
0.028
and
1,690.0
1,730.0
40.0
515.1
527.3
12.2
1.41
1.31
0.021
primary
1,887.6
2,290.0
402.4
575.3
698.0
122.7
0.23
0.02
0.011
including
1,988.0
2,017.0
29.0
605.9
614.8
8.8
0.87
0.06
0.017
ECP-156
enriched
1,118.9
1,756.0
637.1
341.0
535.2
194.2
0.81
0.57
0.010
including
1,366.0
1,566.0
200.0
416.4
477.3
61.0
1.33
1.21
0.009
primary
1,756.0
2,081.6
325.6
535.2
634.5
99.2
0.52
0.05
0.014
including
1,806.0
1,876.0
70.0
550.5
571.8
21.3
0.66
0.06
0.011
ECP-158
oxide
1,256.0
1,336.7
80.7
382.8
407.4
24.6
1.70
1.69
0.020
enriched
1,367.0
1,876.9
509.9
416.7
572.1
155.4
1.20
1.09
0.020
including
1,382.0
1,432.0
50.0
421.2
436.5
15.2
2.79
2.13
0.032
and
1,634.0
1,734.0
100.0
498.0
528.5
30.5
1.45
1.40
0.016
primary
1,876.9
2,311.0
434.1
572.1
704.4
132.3
0.27
0.03
0.011
including
1,897.0
1,969.4
72.4
578.2
600.3
22.1
0.42
0.04
0.009
and
2,240.0
2,300.0
60.0
682.8
701.0
18.3
0.41
0.03
0.011
ECP-159
enriched
1,493.0
1,823.2
330.2
455.1
555.7
100.6
1.27
0.77
0.015
including
1,503.0
1,587.0
84.0
458.1
483.7
25.6
1.84
1.35
0.012
primary
1,823.2
2,056.3
233.1
555.7
626.8
71.0
0.58
0.14
0.017
including
1,833.0
1,903.5
70.5
558.7
580.2
21.5
0.70
0.09
0.017
ECP-162
oxide
1,163.0
1,310.8
147.8
354.5
399.5
45.0
1.39
1.36
0.015
including
1,212.7
1,280.7
68.0
369.6
390.4
20.7
2.09
2.05
0.017
enriched
1,321.0
1,917.5
596.5
402.6
584.5
181.8
1.49
1.44
0.019
including
1,367.9
1,418.0
50.1
416.9
432.2
15.3
2.57
2.54
0.016
and
1,668.0
1,838.0
170.0
508.4
560.2
51.8
1.92
1.88
0.023
primary
1,917.5
2,304.9
387.4
584.5
702.5
118.1
0.30
0.03
0.010
including
1,917.5
1,978.4
60.9
584.5
603.0
18.6
0.41
0.05
0.006
and
2,059.0
2,079.0
20.0
627.6
633.7
6.1
0.56
0.06
0.008
ECP-165
oxide
1,357.0
1,386.0
29.0
413.6
422.5
8.8
1.72
1.71
0.033
enriched
1,429.5
1,598.0
168.5
435.7
487.1
51.4
1.49
1.46
0.012
including
1,437.0
1,487.0
50.0
438.0
453.2
15.2
2.29
2.20
0.013
enriched
1,748.0
1,884.0
136.0
532.8
574.2
41.5
1.08
1.05
0.009
including
1,758.2
1,788.0
29.8
535.9
545.0
9.1
1.60
1.58
0.010
primary
1,884.0
2,327.0
443.0
574.2
709.3
135.0
0.28
0.03
0.011
including
1,908.5
1,945.0
36.5
581.7
592.8
11.1
0.46
0.04
0.007
ECP-168
oxide
1,282.0
1,385.5
103.5
390.8
422.3
31.5
0.97
0.97
0.027
including
1,365.4
1,385.5
20.1
416.2
422.3
6.1
2.36
2.36
0.036
enriched
1,405.0
1,570.5
165.5
428.2
478.7
50.4
1.28
1.22
0.016
including
1,405.0
1,439.0
34.0
428.2
438.6
10.4
2.09
2.08
0.038
and
1,518.0
1,548.0
30.0
462.7
471.8
9.1
1.63
1.62
0.010
enriched
1,696.3
1,862.5
166.2
517.0
567.7
50.7
1.49
1.46
0.008
including
1,730.0
1,800.0
70.0
527.3
548.6
21.3
1.93
0.35
0.006
primary
1,862.5
2,300.4
437.9
567.7
701.2
133.5
0.25
0.03
0.010
including
1,862.5
1,960.0
97.5
567.7
597.4
29.7
0.44
0.06
0.012
ECP-169
enriched
693.3
730.0
36.7
211.3
222.5
11.2
0.79
0.79
0.007
enriched
1,028.1
1,547.0
518.9
313.4
471.5
158.2
1.49
1.09
0.011
including
1,036.0
1,194.0
158.0
315.8
363.9
48.2
2.16
2.10
0.004
primary
1,547.0
1,908.3
361.3
471.5
581.6
110.1
0.61
0.05
0.017
including
1,601.5
1,692.0
90.5
488.1
515.7
27.6
0.75
0.08
0.020
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 0.5% CuT reflecting the potential for heap leaching of underground material in the case of Oxide and Enriched or in the case of Primary material, 0.1% CuT, 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
Hole
Easting (m)
Northing (m)
Elevation (ft)
TD (ft)
Azimuth
Dip
ECP-132
421884.8
3645378.0
1386.7
2430.0
235.0
-80.0
ECP-138
421775.2
3645055.4
1376.0
2248.0
115.0
-80.0
ECP-145
421948.2
3644932.1
1377.2
2011.6
0.0
-90.0
ECP-147
421897.2
3644937.9
1374.2
2219.9
0.0
-90.0
ECP-152
421876.6
3645214.3
1381.0
2315.0
0.0
-90.0
ECP-155
421843.8
3645229.5
1381.0
2315.4
0.0
-90.0
ECP-156
421919.7
3645022.2
1376.8
2103.0
0.0
-90.0
ECP-158
421876.6
3645251.8
1381.9
2347.2
0.0
-90.0
ECP-159
421960.0
3645022.5
1377.4
2077.0
0.0
-90.0
ECP-162
421945.2
3645277.4
1383.3
2323.0
0.0
-90.0
ECP-165
421921.3
3645307.7
1384.6
2373.0
0.0
-90.0
ECP-168
421884.6
3645283.8
1382.8
2360.1
0.0
-90.0
ECP-169
422007.8
3644902.1
1374.8
1912.8
0.0
-90.0
Quality Assurance / Quality Control
Drilling completed on the project between 2020 and 2022 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
September 28, 2022: https://arizonasonoran.com/news-releases/arizona-sonoran-doubles-global-leachable-resource-inventory-and-declares-maiden-mineral-resources-at-parks-salyer-of-2.92/
Figures 1-15: 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.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230912642817/en/
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
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