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Arizona Sonoran Parks/Salyer Drilling Intersects 714.1 ft of 1.01% TCu and 0.90% Cu TSol

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Arizona Sonoran Parks/Salyer Drilling Intersects 714.1 ft of 1.01% TCu and 0.90% Cu TSol

 

 

 

 

 

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (OTCQX:ASCUF)  releases assays from 3 drill holes from its 105,000 ft (32,000 m) infill to indicated drilling program at Parks/Salyer, located ~1.3 mi (2 km) southwest of the Company’s Cactus Mine Project. Infill drilling continues to intersect thick high-grade mineralization which supports the currently modelled inferred Mineral Resource at P/S (see FIGURES 1-9).

 

Additionally, assay results from the final 4 exploration drill holes from Parks/Salyer’s western extents are also being reported. Results from these drill holes were included in the 2.9 B lb Inferred Mineral Resource Estimate reported on September 28, 2022.

 

Highlights:

– Infill drilling to 250 ft drill spacing, in support of an initial Preliminary Feasibility Study (PFS) within 11-17 months

– ECP-098: 714.1 ft (217.7 m) @ 1.01% TCu, 0.90% Cu TSol, 0.024% Mo (enriched)

  • Incl. 298.0 ft (90.8 m) @ 1.39% TCu, 1.35% Cu TSol, 0.019% Mo

– ECP-097: 746.2 ft (227.4 m) of continuous mineralization

  • 294.4 ft (89.7 m) @ 0.68% TCu, 0.65% Cu TSol, 0.018% Mo (oxide)
  • 451.8 ft (137.7 m) @ 1.17% TCu, 1.10% Cu TSol, 0.026% Mo (enriched)
    • Incl 82.6 ft (25.2 m) @ 2.30% TCu, 2.24% Cu TSol, 0.035% Mo

– ECP-099: 552.0 ft (168.2 m) @ 1.10% TCu, 0.85% Cu TSol, 0.030% Mo (enriched)

  • and 150.0 ft (45.7 m) @ 1.48% TCu, 1.29% Cu TSol, 0.033% Mo

 

 

George Ogilvie, Arizona Sonoran President and CEO commented, “We continue to move forward at our Cactus and Parks/Salyer projects concurrently, with the intent of issuing a combined Prefeasibility Study in the next 11-17 months. The recently issued maiden mineral resource estimate for Parks/Salyer combined with the resource estimate at Cactus has now catapulted the combined projects to a size that would make it the 4th largest independent copper deposit in the USA with a total copper resource of 4.9 Billion lbs Inferred and 1.6 Billion lbs Indicated.

 

“At P/S the infill drilling to 250 ft centres is now well underway with all drilling and assaying expected to be completed in 2Q23. Further metallurgical columns on the P/S leachable mineralization is underway and are expected to run throughout 2023. Additionally, geotechnical and hydrological studies on P/S have now been initiated.

 

“At Cactus new metallurgical columns have begun, purposely designed for a future Bankable Feasibility Study.”

 

Mineral Resource and Exploration Drilling Program Recap

 

The final 4 holes from the expanded exploration drill program are now complete and successfully extended mineralization along the western extents of the deposit. The deposit spans an area of 3,500 ft (1,067 m) by 2,200 ft (671 m). The extents of the main high-grade core at Parks/Salyer have been defined by the completed exploration program, however exploration potential remains along the NE oriented mine trend corridor towards the Cactus West deposit. A total of 31 exploration holes spaced at ~500 ft drill spacings were included into the MRE and calculated an inferred copper resource of 2.9 billion pounds at 1.015% total Copper. The total leachable resource totals 2.45 billion pounds at 1.065% total Copper (see PR dated Sept 28, 2022). The current 105,000 ft (32,000 m) drilling program is reducing drill spacings to 250 ft, aimed at upgrading the mineral resource category to indicated in support of the potential definition of maiden reserves in the upcoming PFS.

 

A third rig has begun drilling a 3-hole metallurgical program at Parks/Salyer in October to support a column leach test program for P/S material ahead of the PFS. Additional updates will be provided on the metallurgical, geotechnical and hydrological programs as information is available.

 

 

TABLE 1: Parks/Salyer Drilling Highlights

 

HOLE ZONE Feet Metres TCu Cu TSol Mo
from to length from to length % % %
ECP-099 oxide 1003.0 1054.5 51.5 305.7 321.4 15.7 0.27 0.24 0.010
enriched 1094.3 1139.0 44.7 333.5 347.2 13.6 0.81 0.80 0.010
enriched 1208.3 1218.0 9.7 368.3 371.2 3.0 2.25 2.24 0.012
oxide 1317.0 1386.0 69.0 401.4 422.5 21.0 0.19 0.18 0.007
enriched 1447.0 1999.0 552.0 441.0 609.3 168.2 1.10 0.85 0.030
including 1447.0 1478.0 31.0 441.0 450.5 9.4 2.74 2.73 0.024
and 1508.0 1533.5 25.5 459.6 467.4 7.8 1.38 1.34 0.023
and 1746.0 1896.0 150.0 532.2 577.9 45.7 1.48 1.29 0.033
primary 1999.0 2104.0 105.0 609.3 641.3 32.0 0.29 0.02 0.038
ECP-098 oxide 987.0 1053.7 66.7 300.8 321.2 20.3 0.60 0.59 0.019
including 1029.0 1049.0 20.0 313.6 319.7 6.1 1.08 1.06 0.026
enriched 1114.0 1124.0 10.0 339.5 342.6 3.0 1.24 1.20 0.030
enriched 1166.1 1186.0 19.9 355.4 361.5 6.1 2.01 1.93 0.038
enriched 1229.0 1943.1 714.1 374.6 592.3 217.7 1.01 0.90 0.024
including 1229.0 1527.0 298.0 374.6 465.4 90.8 1.39 1.35 0.019
primary 1943.1 2115.7 172.6 592.3 644.9 52.6 0.63 0.06 0.019
including 2032.0 2072.0 40.0 619.4 631.5 12.2 1.20 0.12 0.045
ECP-097 oxide 1071.0 1365.4 294.4 326.4 416.2 89.7 0.68 0.65 0.018
including 1191.5 1214.5 23.0 363.2 370.2 7.0 2.36 2.29 0.013
and 1324.0 1365.4 41.4 403.6 416.2 12.6 1.73 1.69 0.046
enriched 1365.4 1817.2 451.8 416.2 553.9 137.7 1.17 1.10 0.026
including 1365.4 1448.0 82.6 416.2 441.4 25.2 2.30 2.24 0.035
including 1404.8 1420.0 15.2 428.2 432.8 4.6 6.11 5.89 0.037
primary 1817.2 2318.0 500.8 553.9 706.5 152.6 0.21 0.02 0.008
ECP-096 oxide 1355.5 1438.0 82.5 413.2 438.3 25.1 0.48 0.42 0.002
including 1375.0 1399.8 24.8 419.1 426.7 7.6 0.82 0.78 0.003
oxide 1478.0 1528.0 50.0 450.5 465.7 15.2 0.23 0.15 0.002
oxide 1578.0 1622.0 44.0 481.0 494.4 13.4 0.20 0.16 0.007
oxide 1728.1 1783.7 55.6 526.7 543.7 16.9 0.28 0.19 0.004
enriched 1783.7 1817.0 33.3 543.7 553.8 10.1 0.30 0.27 0.002
ECP-095 enriched 1483.3 2055.0 571.7 452.1 626.4 174.3 0.39 0.35 0.005
including 1483.3 1514.0 30.7 452.1 461.5 9.4 0.73 0.71 0.009
and 1547.2 1585.2 38.0 471.6 483.2 11.6 1.03 1.02 0.007
and 1608.4 1628.0 19.6 490.2 496.2 6.0 0.86 0.84 0.005
and 1694.3 1792.0 97.7 516.4 546.2 29.8 0.59 0.54 0.007
primary 2055.0 2501.1 446.1 626.4 762.3 136.0 0.13 0.02 0.002
ECP-094 oxide 1368.0 1405.0 37.0 417.0 428.2 11.3 0.52 0.44 0.001
enriched 1451.0 1936.0 485.0 442.3 590.1 147.8 0.26 0.23 0.001
including 1451.0 1507.0 56.0 442.3 459.3 17.1 0.46 0.45 0.002
primary 1936.0 2467.7 531.7 590.1 752.2 162.1 0.30 0.03 0.005
including 2332.0 2402.0 70.0 710.8 732.1 21.3 0.95 0.07 0.017
ECP-093 oxide 1178.0 1191.0 13.0 359.1 363.0 4.0 1.19 0.99 0.001
enriched 1225.6 1615.0 389.4 373.6 492.3 118.7 0.38 0.36 0.002
including 1225.6 1258.0 32.4 373.6 383.4 9.9 1.50 1.32 0.001
including 1282.4 1335.0 52.6 390.9 406.9 16.0 1.21 1.15 0.003
and 1543.0 1567.0 24.0 470.3 477.6 7.3 1.08 1.06 0.011
enriched 1660.4 1680.0 19.6 506.1 512.1 6.0 0.55 0.52 0.003
enriched 1731.4 1896.0 164.6 527.7 577.9 50.2 0.40 0.37 0.004
including 1817.6 1848.3 30.7 554.0 563.4 9.4 1.01 0.98 0.006
primary 1896.0 2208.0 312.0 577.9 673.0 95.1 0.17 0.02 0.009
including 1926.0 1991.2 65.2 587.0 606.9 19.9 0.23 0.04 0.009
  1. Intervals are presented in core length and are drilled with very near vertical 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 to provide typical average grades. Holes were terminated below the basement fault.
  3. Some intercepts in the western exploration holes assumed a mineralized cut-off grade of 0.1% CuT to provide typical average grades of the tenor of mineralization.
  4. Assay results are not capped. Intercepts are aggregated within geological confines of major mineral zones.
  5. True widths are not known.

 

Table 2: Drilling details

 

Hole Easting (m) Northing (m) Elevation (ft) TD (ft) Azimuth Dip
ECP-093 421382.4 3645094.0 1372.7 2463.3 0.0 -90.0
ECP-094 421309.5 3644981.3 1369.1 2498.0 0.0 -90.0
ECP-095 421285.0 3644857.9 1365.6 2545.5 0.0 -90.0
ECP-096 421312.0 3645256.8 1376.6 2652.1 0.0 -90.0
ECP-097 421843.7 3645268.8 1381.9 2344.5 0.0 -90.0
ECP-098 421842.5 3645184.3 1379.9 2332.4 0.0 -90.0
ECP-099 421921.1 3645148.0 1379.7 2244.0 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

 

Figures 1-9: https://arizonasonoran.com/projects/exploration/maps-and-figures/

 

Press Release dated, 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/

 

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 2, 2022

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