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Arizona Sonoran Continues to Define Near Surface Mineralization at MainSpring

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Arizona Sonoran Continues to Define Near Surface Mineralization at MainSpring

 

 

 

 

 

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (OTCQX:ASCUF)  reports the first 16 drill holes (19,219 ft | 5,858 m) from an infill drilling program at MainSpring, within the 100%-owned Cactus Project in Arizona (see FIGURES 1-14). Drilling is infilling the shallow mineralization to the southern end of the area, in support of a potential open pit design. An open pit design using the inferred category resources is being evaluated for inclusion within the pending Preliminary Economic Assessment, expected in Q3 2024.

 

The MainSpring infill drill program is reducing drill spacings from 500 ft (152 m) to 250 ft (76 m) to upgrade the pending MainSpring mineral resource classification from inferred to an indicated category, funded by the Company. Additionally, the Geology team is concurrently conducting an inferred drill program at Cactus West. The Cactus West program is focused on expanding the known primary sulphide mineral resource and funded by Nuton Technologies, as part of the Option to Joint Venture agreement announced December 14, 2023.

 

Highlights:

  • Near surface mineralization within 100 m of surface in southern MainSpring; infill drilling at 250 ft (76 m) drill spacings
  • ECM-230*: 827 ft (252 m) @ 0.30% CuT of continuous mineralization
    • 461 ft (141 m) @ 0.45% CuT, 0.36% Cu TSol, 0.001% Mo (enriched)
    • Incl. 60 ft (18 m) @ 1.68% CuT, 1.60% Cu TSol, 0.001% Mo
  • ECM-236: 383 ft (117 m) @ 0.39% CuT of continuous mineralization
    • 41 ft (13 m) @ 0.23% CuT, 0.20% Cu TSol, 0.002% Mo (ox) – 65 m from surface
    • 275 ft (84 m) @ 0.46% CuT, 0.41% Cu TSol, 0.002% Mo (enriched)
  • ECM-231: 498 ft (152 m) @ 0.28% CuT, 0.24% Cu TSol (enriched)
    • Incl. 56 ft (17 m) @ 0.43% CuT, 0.40% Cu TSol, 0.001% Mo
    • And 49 ft (15 m) @ 0.71% CuT, 0.66% Cu TSol, 0.001% Mo

NOTE: True widths are not known; * Interval includes 0.1 ft (0.03 m) of missing core

 

George Ogilvie, Arizona Sonoran President and CEO commented, “ASCU continues to demonstrate itself as a lower-risk copper developer, with a short timeframe to construction decision and the potential to benefit from this copper cycle. Our Pre-Feasibility Study issued in February of this year set a solid foundation, from which our team is building opportunities and optimizations, while assuming current and realistic economic assumptions. Specifically, MainSpring’s shallow low-grade mineralization is supportive of a potential open-pit immediately south of Parks/Salyer. Our pending PEA will explore this potential, as well as a first look at the potential impacts of heap leaching the Cactus Mine primary sulphides using the Nuton leaching technologies.

 

We are a unique emerging brownfields developer working towards a construction decision in the near term. While the team integrates the several new opportunities presented to us through the continued expansion of our porphyry system, we remain focused on the goal of advancing Cactus to a construction decision and presenting a solid mine plan with low execution risk.”

 

Integrated Preliminary Economic Study

 

The Integrated Preliminary Economic Study is on track and on budget for completion in 3Q 2024. The study will explore two mining scenarios which will assume the same inputs utilized within the February 2024 Pre-Feasibility Study (see PR dated February 21, 2024 or the Company’s SEDAR+ profile). The purpose is to demonstrate the economic potential of MainSpring, and a first look at the potential economic uplift from Nuton Technologies. The two scenarios will be outlined as:

  • Scenario 1: Oxides and Enriched Material from Cactus West, Cactus East, Parks/Salyer, MainSpring and the Stockpile,
  • Scenario 2: Scenario 1, and the inclusion of primary sulphides from all sources of material, using the Nuton leaching technologies.

 

 

Drilling and Geology Recap

 

The indicated drilling at MainSpring began immediately following the completion of the inferred drilling program and is in-filling the 500 ft (152 m) spaced holes to 250 ft (76 m). Drilling began where mineralization is closest to surface (as shallow as 140 ft | 43 m) to define an indicated shallow starter pit. The inferred drilling shows that copper grades increase, and mineralization thickens to the north and northwest into the gap between MainSpring and Parks/Salyer, additionally depth to bedrock also increases to the north and northwest. Infill drilling is expected to continue to the north and northwest to push the potential starter pit in those directions. The lower copper grades at MainSpring are expected and coincide with remnant enriched, oxide and primary mineralization within predominantly leach cap. Copper grades, mineralization thickness and mineralization continuity are all expected to increase north and west from MainSpring into the gap zone.

 

TABLE 1: Significant Drilling Intercepts

 

 

Hole

id

Zone Feet Meters CuT

(%)

Cu

Tsol

(%)

Mo

(%)

from to length from to length
ECM-223 oxide 137.0 162.1 25.1 41.8 49.4 7.7 1.12 0.94 0.001
enriched 685.5 725.0 39.5 208.9 221.0 12.0 0.83 0.81 0.001
enriched 797.0 940.6 143.6 242.9 286.7 43.8 0.19 0.14 0.001
primary 940.6 1,148.0 207.4 286.7 349.9 63.2 0.14 0.02 0.001
ECM-224 oxide 177.0 232.5 55.5 53.9 70.9 16.9 0.20 0.20 0.005
enriched 297.2 414.4 117.2 90.6 126.3 35.7 0.42 0.41 0.002
enriched 520.0 611.3 91.3 158.5 186.3 27.8 0.38 0.36 0.001
including 520.0 556.0 36.0 158.5 169.5 11.0 0.69 0.69 0.001
primary 611.3 997.0 385.7 186.3 303.9 117.6 0.18 0.03 0.001
ECM-225 enriched 406.4 655.0 248.6 123.9 199.6 75.8 0.36 0.35 0.003
including 406.4 447.0 40.6 123.9 136.2 12.4 0.94 0.92 0.002
enriched 1014.0 1,054.0 40.0 309.1 321.3 12.2 0.12 0.11 0.007
enriched 1157.8 1,299.0 141.2 352.9 395.9 43.0 0.11 0.10 0.004
primary 1299.0 1,343.0 44.0 395.9 409.3 13.4 0.13 0.06 0.005
primary 1475.8 1,541.8 66.0 449.8 469.9 20.1 0.13 0.02 0.004
primary 1612.0 1,662.0 50.0 491.3 506.6 15.2 0.12 0.02 0.001
ECM-226 oxide 385 512 127 117.3 156.1 38.7 0.23 0.185 0.001
including 385.0 421.0 36.0 117.3 128.3 11.0 0.41 0.39 0.001
enriched 569.2 677.0 107.8 173.5 206.3 32.9 0.33 0.29 0.001
primary 702.0 854.8 152.8 214.0 260.5 46.6 0.13 0.03 0.001
ECM-227 enriched 467.0 575.0 108.0 142.3 175.3 32.9 0.37 0.36 0.002
including 467.0 490.2 23.2 142.3 149.4 7.1 0.76 0.74 0.002
enriched 615.0 645.0 30.0 187.5 196.6 9.1 0.11 0.11 0.002
primary 745.0 1,143.0 398.0 227.1 348.4 121.3 0.14 0.02 0.001
ECM-228 enriched 538.0 569.0 31.0 164.0 173.4 9.4 0.31 0.29 0.001
primary 702.0 792.0 90.0 214.0 241.4 27.4 0.66 0.04 0.001
including 720.0 740.0 20.0 219.5 225.6 6.1 2.16 0.09 0.001
ECM-229 enriched 428.6 531.5 102.9 130.6 162.0 31.4 0.22 0.21 0.002
primary 574.0 1,134.2 560.2* 175.0 345.7 170.7* 0.12 0.02 0.001
including 633.0 673.0 40.0 192.9 205.1 12.2 0.24 0.02 0.001
ECM-230 enriched 453.0 543.1 90.1 138.1 165.5 27.5 0.17 0.16 0.001
including 505.0 543.1 38.1 153.9 165.5 11.6 0.29 0.28 0.001
enriched 621.8 1,082.8 461.0 189.5 330.0 140.5 0.45 0.36 0.001
including 1011.0 1,071.0 60.0 308.2 326.4 18.3 1.68 1.60 0.001
primary 1082.8 1,280.0 197.2* 330.0 390.1 60.1* 0.13 0.03 0.001
ECM-231 enriched 588.8 1,087.0 498.2 179.5 331.3 151.9 0.28 0.24 0.002
including 588.8 644.3 55.5 179.5 196.4 16.9 0.43 0.40 0.001
and 673.5 722.8 49.3 205.3 220.3 15.0 0.71 0.66 0.001
ECM-232 oxide 323.0 359.0 36.0 98.5 109.4 11.0 0.30 0.29 0.003
enriched 440.0 539.0 99.0 134.1 164.3 30.2 0.21 0.19 0.001
primary 539.0 616.0 77.0 164.3 187.8 23.5 0.17 0.02 0.001
primary 775.5 820.0 44.5 236.4 249.9 13.6 0.24 0.03 0.001
ECM-233 oxide 188.0 228.0 40.0 57.3 69.5 12.2 0.15 0.15 0.001
oxide 349.0 381.0 32.0 106.4 116.1 9.8 0.18 0.07 0.001
enriched 624.2 822.4 198.2 190.3 250.7 60.4 0.20 0.13 0.001
primary 822.4 1,090.2 267.8 250.7 332.3 81.6 0.15 0.03 0.001
ECM-234 oxide 362.8 415.4 52.6 110.6 126.6 16.0 0.15 0.11 0.001
enriched 598.0 617.6 19.6 182.3 188.2 6.0 0.53 0.48 0.001
primary 617.6 967.0 349.4 188.2 294.7 106.5 0.18 0.02 0.001
including 850.0 892.0 42.0 259.1 271.9 12.8 0.28 0.05 0.001
ECM-235 enriched 363.9 426.1 62.2 110.9 129.9 19.0 0.16 0.16 0.001
enriched 456.7 517.9 61.2 139.2 157.9 18.7 0.23 0.23 0.002
enriched 567.1 601.5 34.4 172.9 183.3 10.5 0.12 0.12 0.002
primary 799.2 1,204.0 404.8 243.6 367.0 123.4 0.13 0.02 0.001
ECM-236 ox/enr 213.0 254.3 41.3 64.9 77.5 12.6 0.23 0.20 0.003
primary 375.0 455.0 80.0 114.3 138.7 24.4 0.15 0.05 0.001
enriched 515.0 543.3 28.3 157.0 165.6 8.6 0.57 0.54 0.001
enriched 623.0 898.0 275.0 189.9 273.7 83.8 0.46 0.41 0.002
including 685.1 715.0 29.9 208.8 217.9 9.1 1.46 1.43 0.002
and 824.0 888.3 64.3 251.2 270.8 19.6 0.62 0.57 0.002
ECM-237 oxide 264.0 494.0 230.0 80.5 150.6 70.1 0.21 0.12 0.001
including 416.9 483.8 66.9 127.1 147.5 20.4 0.37 0.24 0.001
oxide 580.0 589.3 9.3 176.8 179.6 2.8 1.83 1.77 0.001
enriched 624.1 691.8 67.7 190.2 210.9 20.6 0.51 0.49 0.001
including 624.1 654.0 29.9 190.2 199.3 9.1 0.99 0.96 0.001
primary 726.0 938.0 212.0 221.3 285.9 64.6 0.15 0.03 0.001
ECM-238 enriched 595.0 715.8 120.8 181.4 218.2 36.8 0.46 0.45 0.002
including 607.3 647.0 39.7 185.1 197.2 12.1 1.08 1.07 0.001
enriched 756.0 802.0 46.0 230.4 244.4 14.0 0.18 0.15 0.001
primary 1009.0 1,056.0 47.0 307.5 321.9 14.3 0.12 0.01 0.003
  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 0.1% CuT reflecting the potential for heap leaching of open pit material in the case of Oxide and Enriched and 0.1% CuT, 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.
  5. * Indicates interval includes missing core. Missing core intervals ranged in length from 0.1 ft (0.03 m) to 1.0 ft (0.30 m).

 

 

Table 2: Drilling details

 

Hole Easting (m) Northing (m) Elevation (ft) TD (ft) Azimuth Dip
ECM-223 421769.0 3644272.5 1360.0 1357.0 0.0 -90.0
ECM-224 421921.6 3644271.1 1360.0 1141.0 0.0 -90.0
ECM-225 421618.4 3644426.2 1360.0 1702.7 0.0 -90.0
ECM-226 422073.6 3644270.0 1360.0 1027.0 0.0 -90.0
ECM-227 421922.4 3644423.7 1363.0 1233.5 0.0 -90.0
ECM-228 422226.4 3644268.1 1363.0 961.0 0.0 -90.0
ECM-229 422074.3 3644422.6 1360.0 1165.1 0.0 -90.0
ECM-230 421615.6 3644120.1 1360.0 1379.0 0.0 -90.0
ECM-231 421614.0 3643968.8 1360.0 1221.3 0.0 -90.0
ECM-232 422150.1 3644268.9 1360.0 989.5 0.0 -90.0
ECM-233 421767.8 3644119.9 1360.0 1183.2 0.0 -90.0
ECM-234 422075.1 3644346.5 1360.0 1164.4 0.0 -90.0
ECM-235 421846.2 3644424.5 1360.0 1387.3 0.0 -90.0
ECM-236 421766.5 3643967.4 1360.0 1092.9 0.0 -90.0
ECM-237 421919.4 3644119.8 1360.0 1008.0 0.0 -90.0
ECM-238 421999.3 3644423.1 1360.0 1205.6 0.0 -90.0

Note: All final collar coordinates are surveyed using high precision GPS by Harvey Land Surveying Inc. The collar coordinates reported are estimated.

 

Quality Assurance / Quality Control

 

Drilling completed on the project between 2020 and 2024 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 1-14: https://arizonasonoran.com/projects/exploration/maps-and-figures/
February 21, 2024: https://arizonasonoran.com/news-releases/arizona-sonoran-announces-a-positive-pre-feasibility-study-for-the-cactus-mine-project-with-a-us-509m-post-tax-npv-and-55-kstpa/
December 14, 2023: https://arizonasonoran.com/news-releases/arizona-sonoran-and-nuton-llc-announce-option-to-joint-venture-on-cactus-project-in-arizona/

 

About Arizona Sonora Copper Company

 

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. 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.

 

Posted May 22, 2024

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