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Arizona Sonoran Exploration Drilling Intersects Near Surface Mineralization 2,500 ft (762 m) South of Parks/Salyer

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Arizona Sonoran Exploration Drilling Intersects Near Surface Mineralization 2,500 ft (762 m) South of Parks/Salyer

 

 

 

 

 

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) reports that exploration drilling at the MainSpring property intersected near surface copper mineralization from 4 drill holes. The southern-most MainSpring drill hole, ECM-186, was collared 2,500 ft (762 m) south of the Parks/Salyer deposit (see FIGURES 1-9) and intersected shallow oxide mineralization at a depth of 138 ft (42 m) from surface. In comparison, Parks/Salyer mineralization begins at approximately 550 ft (176 m) at its shallowest, over a footprint of 2,000 ft by 2,500 ft. The MainSpring property is situated contiguous to the Parks/Salyer Property and within the, privately held by ASCU, Cactus Project in Arizona.

 

Eight of 10 drill holes are now complete within the MainSpring exploration program announced October 30, 2023. Current drilling is testing the near surface extension of mineralization south of the Parks/Salyer deposit across the MainSpring property. Based on early drilling results, a comprehensive 2024 exploration program is being planned to discover the extents of shallow mineralization to the south and then connect the shallow mineralization to the thick high-grade zones at Parks/Salyer in the north.

 

Drilling Highlights:

  • Identified shallow mineralization at least 2,500 ft (762 m) south of the Parks/Salyer deposit
  • Near surface mineralization begins at ~138 ft (42 m) in 3 of the southern-most drill holes, compared to ~550 ft (166 m) or greater in the Parks/Salyer deposit
  • ECM-190: 433 ft (132 m) @ 0.34% CuT, 0.31% Cu TSol from 336 ft (102 m) depth (enriched)
    • Incl 115 ft (35.1 m) @ 0.58% CuT, 0.56% Cu TSol
    • And 50 ft (15.2 m) @ 0.49% CuT, 0.48% Cu TSol
    • Partial hole; assays related to the primary sulphides are pending
  • ECM-187: 716 ft (218 m) @ 0.28% CuT of continuous mineralization from 144.3 ft (44 m) depth
    • 303.7 ft (92.6 m) @ 0.35% CuT, 0.32% Cu TSol from 144 ft (44 m) depth (oxide)
    • Incl 11.7 ft (3.6 m) @ 3.39% CuT, 3.29% Cu TSol
    • And 20 ft (6.1 m) @ 1.01% CuT, 1.00% Cu TSol
    • 124.9 ft (38.1 m) @ 0.34% CuT, 0.33% Cu TSol (enriched)
    • Incl 34 ft (10.4 m) @ 0.86% CuT, 0.84% Cu TSol
  • ECM-186: 570 ft (173.7 m) @ 0.19 % CuT of near continuous mineralization from 138 ft (42 m) depth
  • ECM-191: 317.1 ft (96.7 m) @ 0.23% CuT, 0.23% Cu TSol from 370.4 ft (113 m) depth (enriched)
    • Incl 126.6 ft (38.6 m) @ 0.35% CuT, 0.34% Cu TSol

 

NOTE: True widths are not known

 

George Ogilvie, Arizona Sonoran President and CEO commented, “Assay results coming from the MainSpring property reinforces the strength of our Cactus porphyry copper system and the significance of the Parks/Salyer deposit to the overall Cactus Project. The property continues to demonstrate growth opportunities beside an already significant copper deposit within a world class jurisdiction, on a property with a clear path to development. While these results are the first three and a half holes from the 10-hole drilling program, we are excited about MainSpring’s near surface potential next to the deeper high-grade Parks/Salyer deposit. We look forward to planning the expanded drill program for 2024 with a view to continue delivering value to the ASCU shareholders.”

 

MainSpring Property

 

ASCU signed a Purchase-Sale Agreement to acquire MainSpring’s 523 acres in early 2023 (see February 23, 2023). Situated within the Cactus Project and contiguous to the Parks/Salyer deposit, the acquisition improves operational flexibility with respect to infrastructure and site requirements for the re-scoped PFS expected in early Q1 2024.

 

Drilling Recap

 

Eight holes totaling 9,648 feet (2,940.7 m) within the 10-hole drill program (12,550 feet | 3,825.2 m) are now complete at MainSpring. Mineralization at MainSpring is interpreted to be the shallow extension of the Parks/Salyer deposit located to the north and the geological structures at MainSpring are similar to that seen at Cactus West. To date, drilling has focused on the shallow crest of a north-dipping horst block that shallows to the south and hosts oxide and enriched mineralization above primary mineralization. The north-dipping horst gently drops into graben hosting thick zones of enriched and primary mineralization that extend north to the Parks/Salyer deposit.

 

TABLE 1: MainSpring Drilling Significant Intercepts

 

Hole

id

Zone Feet Meters CuT Cu Tsol Mo
from to length (ft) from to length (m) % % %
ECM-186 oxide 138.0 300.0 162.0 42.1 91.4 49.4 0.17 0.10 0.001
including 195.0 204.8 9.8 59.4 62.4 3.0 0.97 0.91 0.000
oxide 423.5 515.7 92.2 129.1 157.2 28.1 0.28 0.23 0.001
including 511.0 515.7 4.7 155.8 157.2 1.4 2.50 2.28 0.001
enriched 515.7 543.0 27.3 157.2 165.5 8.3 0.20 0.10 0.001
primary 543.0 708.0 165.0 165.5 215.8 50.3 0.25 0.06 0.002
including 637.0 691.0 54.0 194.2 210.6 16.5 0.44 0.12 0.006
ECM-187 oxide 144.3 448 303.7 44.0 136.6 92.6 0.35 0.32 0.002
including 179.3 191.0 11.7 54.7 58.2 3.6 3.39 3.29 0.002
and 246.0 266.0 20.0 75.0 81.1 6.1 1.01 1.00 0.001
enriched 468.0 592.9 124.9 142.6 180.7 38.1 0.34 0.33 0.001
including 506.0 540.0 34.0 154.2 164.6 10.4 0.86 0.84 0.001
primary 592.9 931.0 338.1 180.7 283.8 103.1 0.14 0.04 0.001
including 688.0 720.0 32.0 209.7 219.5 9.8 0.38 0.04 0.001
and 778.0 811.0 33.0 237.1 247.2 10.1 0.28 0.08 0.001
ECM-190 oxide 139.8 158.5 18.7 42.6 48.3 5.7 0.70 0.67 0.001
enriched 336.0 769.0 433.0 102.4 234.4 132.0 0.34 0.31 0.001
including 336.0 451.0 115.0 102.4 137.5 35.1 0.58 0.56 0.001
and 480.0 530.0 50.0 146.3 161.5 15.2 0.49 0.48 0.001
Primary sulphide assays pending from 769 ft to 1233.4 ft (EOH)
ECM-191 oxide 234.0 248.0 14.0 71.3 75.6 4.3 0.17 0.12 0.001
enriched 370.4 687.5 317.1 112.9 209.6 96.7 0.23 0.23 0.002
including 370.4 497.0 126.6 112.9 151.5 38.6 0.35 0.34 0.002
enriched 879.2 909.0 29.8 268.0 277.1 9.1 0.12 0.11 0.001
enriched 1017.5 1,104.6 87.1 310.1 336.6 26.5 0.10 0.02 0.001
primary 1104.6 1,399.8 295.2 336.6 426.6 90.0 0.05 0.01 0.001
  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 openpit material in the case of Oxide and Enriched or 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.

 

Table 2: Drilling details

 

Hole Easting (m) Northing (m) Elevation (ft) TD (ft) Azimuth Dip
ECM-186 422152.0 3644036.0 1360.0 945.0 0.0 -90.0
ECM-187 421996.0 3644189.0 1360.0 1024.6 0.0 -90.0
ECM-190 421842.9 3644341.2 1360.0 1233.4 0.0 -90.0
ECM-191 421764.0 3644419.0 1360.0 1454.5 0.0 -90.0

 

Note: Drill locations are based on drill plans and hand-held GPS locators and may be adjusted slightly when properly surveyed.

 

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

 

February 23, 2023: https://arizonasonoran.com/news-releases/arizona-sonoran-purchases-contiguous-mainspring-property-providing-additional-planning-flexibility-for-the_pfs/

 

October 30, 2023: https://arizonasonoran.com/news-releases/arizona-sonoran-drills-1.97-cut-over-540-ft-164.6-m-at-parks-salyer-and-begins-drilling-south-of-the-parks-salyer-deposit/

 

Figures 1-9: https://arizonasonoran.com/projects/cactus-mine-project/press-release-images/

 

About Arizona Sonoran 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. 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.

 

Posted November 20, 2023

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