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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.42 | 1.41 | 1.41 | 0 | 14:16:36 |
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).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240116632220/en/
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)
- ECP-184: 801 ft (244 m) @ 1.01% CuT, 0.76% Cu TSol, 0.011% Mo (enriched)
- ECP-180: 884 ft (269 m) @ 0.91% CuT, 0.77% Cu TSol, 0.007% Mo (enriched) of continuous mineralization
- ECP-173: 1,085 ft (331 m) @ 0.97% CuT of continuous mineralization
- ECP-174: 925 ft (282 m) @ 0.83% CuT of continuous mineralization
- ECP-181: 742 ft (226 m) @ 0.99% CuT of continuous mineralization
- ECP-175: 1,001 ft (305 m) @ 1.04% CuT of continuous mineralization
- ECP-170: 519 ft (158 m) @ 1.24 % CuT of continuous mineralization
- ECP-176: 718 ft (219 m) @ 0.83% CuT of continuous mineralization
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
Hole
Zone
Feet
Meters
CuT
Cu Tsol
Mo
id
from
to
length
from
to
length
%
%
%
ECP-140
oxide
806.0
842.7
36.7
245.7
256.9
11.2
0.91
0.76
0.003
oxide
879.0
946.0
67.0
267.9
288.3
20.4
0.57
0.52
0.021
enriched
1,095.4
1,695.0
599.6
333.9
516.6
182.8
0.70
0.64
0.023
including
1,095.4
1,156.0
60.6
333.9
352.3
18.5
1.52
1.49
0.029
and
1,236.0
1,286.0
50.0
376.7
392.0
15.2
1.01
0.98
0.034
and
1,406.0
1,436.0
30.0
428.5
437.7
9.1
1.01
1.00
0.018
primary
1,695.0
2,276.0
581.0
516.6
693.7
177.1
0.23
0.03
0.006
including
1,924.0
2,061.0
137.0
586.4
628.2
41.8
0.36
0.03
0.008
and
2,131.0
2,193.1
62.1
649.5
668.5
18.9
0.43
0.04
0.007
ECP-170
enriched
1,365.0
1,727.0
362.0
416.1
526.4
110.3
1.49
1.41
0.010
including
1,423.0
1,557.0
134.0
433.7
474.6
40.8
2.4
2.32
0.006
primary
1,727.0
1,884.0
157.0
526.4
574.2
47.9
0.65
0.14
0.027
including
1,757.0
1,787.0
30.0
535.5
544.7
9.1
0.82
0.16
0.026
ECP-172
enriched
1,490.5
1,591.6
101.1
454.3
485.1
30.8
0.8
0.77
0.020
including
1,490.5
1,515.0
24.5
454.3
461.8
7.5
1.39
1.35
0.024
and
1,564.0
1,591.6
27.6
476.7
485.1
8.4
1.18
1.13
0.020
enriched
1,770.0
1,964.0
194.0
539.5
598.6
59.1
0.87
0.78
0.027
including
1,775.9
1,817.7
41.8
541.3
554.0
12.7
1.30
1.24
0.022
and
1,867.0
1,947.0
80.0
569.1
593.4
24.4
1.06
0.93
0.033
primary
1,964.0
2,282.7
318.7
598.6
695.8
97.1
0.42
0.04
0.014
including
2,217.4
2,277.0
59.6
675.9
694.0
18.2
0.96
0.08
0.040
ECP-173
enriched
830.8
1,323.0
492.2
253.2
403.3
150.0
1.46
1.21
0.009
including
830.8
1,087.0
256.2
253.2
331.3
78.1
2.25
2.09
0.005
primary
1,323.0
1,915.9
592.9
403.3
584.0
180.7
0.55
0.05
0.011
including
1,398.0
1,468.0
70.0
426.1
447.4
21.3
0.80
0.09
0.021
and
1,557.0
1,587.0
30.0
474.6
483.7
9.1
0.96
0.06
0.016
and
1,740.0
1,780.0
40.0
530.4
542.5
12.2
0.87
0.06
0.006
ECP-174
oxide
1,386.0
1,453.5
67.5
422.5
443.0
20.6
1.03
1.02
0.029
including
1,426.0
1,453.5
27.5
434.6
443.0
8.4
1.64
1.62
0.039
enriched
1,479.7
2,010.0
530.3
451.0
612.6
161.6
1.17
1.11
0.017
including
1,479.7
1,502.4
22.7
451.0
457.9
6.9
4.44
4.28
0.012
and
1,541.0
1,602.7
61.7
469.7
488.5
18.8
2.62
2.56
0.020
and
1,739.0
1,809.0
70.0
530.0
551.4
21.3
1.4
1.33
0.015
and
1,943.0
2,010.0
67.0
592.2
612.6
20.4
1.76
1.74
0.023
primary
2,010.0
2,260.8
250.8
612.6
689.1
76.4
0.25
0.03
0.012
including
2,029.6
2,080.0
50.4
618.6
634.0
15.4
0.34
0.04
0.012
ECP-175
enriched
993.3
1,367.0
373.7
302.8
416.7
113.9
1.49
1.38
0.010
including
993.3
1,015.0
21.7
302.8
309.4
6.6
2.29
2.09
0.008
and
1,256.0
1,286.0
30.0
382.8
392.0
9.1
2.96
2.92
0.025
primary
1,367.0
1,697.7
330.7
416.7
517.5
100.8
0.76
0.06
0.038
including
1,645.0
1,697.7
52.7
501.4
517.5
16.1
1.13
0.08
0.089
transitional
1,697.7
1,858.0
160.3
517.5
566.3
48.9
0.98
0.30
0.032
including
1,768.0
1,838.0
70.0
538.9
560.2
21.3
1.21
0.43
0.017
primary
1,858.0
1,994.5
136.5
566.3
607.9
41.6
0.55
0.05
0.010
ECP-176
oxide
1,170.2
1,202.4
32.2
356.7
366.5
9.8
1.26
1.20
0.009
oxide
1,306.0
1,331.8
25.8
398.1
405.9
7.9
0.62
0.60
0.013
enriched
1,414.0
1,441.3
27.3
431.0
439.3
8.3
0.86
0.84
0.013
enriched
1,478.2
1,989.0
510.8
450.6
606.2
155.7
1.03
0.84
0.021
including
1,537.0
1,577.0
40.0
468.5
480.7
12.2
1.74
1.73
0.023
and
1,828.0
1,969.0
141.0
557.2
600.2
43.0
1.41
1.36
0.013
primary
1,989.0
2,195.9
206.9
606.2
669.3
63.1
0.33
0.05
0.024
including
1,989.0
2,026.2
37.2
606.2
617.6
11.3
0.57
0.12
0.024
ECP-178
enriched
1,502.5
2,024.3
521.8
458.0
617.0
159.0
1.78
1.61
0.011
including
1,612.0
1,832.0
220.0
491.3
558.4
67.1
2.67
2.53
0.013
ECP-180
enriched
1,448.0
2,091.0
643.0
441.4
637.3
196.0
1.12
0.92
0.008
including
1,744.0
1,825.0
81.0
531.6
556.3
24.7
1.53
1.50
0.006
and
1,866.7
2,015.0
148.3
569.0
614.2
45.2
1.81
1.38
0.013
and
2,049.0
2,079.0
30.0
624.5
633.7
9.1
1.46
0.78
0.015
ECP-181
enriched
1,148.8
1,177.0
28.2
350.2
358.7
8.6
0.97
0.95
0.010
enriched
1,336.0
1,872.0
536.0
407.2
570.6
163.4
1.12
1.00
0.009
including
1,666.0
1,834.0
168.0
507.8
559.0
51.2
2.08
1.86
0.014
primary
1,872.0
2,078.2
206.2
570.6
633.4
62.8
0.65
0.29
0.006
including
1,932.0
1,968.5
36.5
588.9
600.0
11.1
0.87
0.19
0.012
and
2,043.0
2,058.0
15.0
622.7
627.3
4.6
2.62
2.62
0.001
ECP-184
oxide
1,285.0
1,365.0
80.0
391.7
416.1
24.4
0.87
0.81
0.002
enriched
1,365.0
2,086.2
721.2
416.1
635.9
219.8
1.02
0.75
0.011
including
1,368.5
1,411.0
42.5
417.1
430.1
13.0
2.15
2.11
0.010
and
1,509.7
1,543.0
33.3
460.2
470.3
10.1
2.33
2.27
0.009
and
1,938.0
2,071.0
133.0
590.7
631.2
40.5
1.64
1.49
0.014
Table 2: Drilling details
Hole
Easting (m)
Northing (m)
Elevation (ft)
TD (ft)
Azimuth
Dip
ECP-140
421691.9
3645076.2
1376.0
2333.5
260
-80
ECP-170
422087.9
3644938.5
1376.6
1894.5
0.0
-90.0
ECP-172
421994.7
3645253.4
1383.3
2385.4
0.0
-90.0
ECP-173
421949.6
3644855.9
1373.1
2241.1
0.0
-90.0
ECP-174
422031.4
3645227.1
1383.1
2495.2
0.0
-90.0
ECP-175
421835.1
3644870.9
1371.6
2281.5
0.0
-90.0
ECP-176
422029.8
3645184.0
1382.0
2210.0
0.0
-90.0
ECP-178
422119.0
3645031.5
1379.4
2280.2
260
-80
ECP-180
422030.6
3645088.2
1379.9
2102.7
0.0
-90.0
ECP-181
421997.1
3645055.5
1378.7
2102.5
0.0
-90.0
ECP-184
421963.6
3645082.6
1379.0
2136.4
0.0
-90.0
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.
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/20240116632220/en/
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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