CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)--Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, today released an additional 2 drill holes (4,725 ft | 1,440 m) from a 12-hole program at the Parks/Salyer (“P/S”) Project, of which six holes have now been reported. Assay results from this most recent drilling extend known mineralization a minimum of 500 ft west of prior drilling (see FIGURES 1-4). The initial drill program comprises 24,000 ft (~7300 m) and aims to test the extension of the porphyry copper system from the southern border of its Parks/Salyer property along the mine trend towards the Cactus Mine and within the newly defined Exploration Target Area.
Highlights:
- ECP-057 - 199.4 ft @ 0.86% CuT, 0.81% TSol, 0.033% Mo – Oxides |
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- ECP-065 - 439.7 ft @ 0.92% CuT, 0.90% TSol, 0.033% Mo – Enriched |
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Notable to both holes, which were drilled on the west side of known mineralization, was the presence of higher-grade molybdenum results in both the oxide and enriched mineralization zones. Both holes support mineralization remaining open in all directions. According to a 2019 ionic soil survey, which did not delimit the extents of the system, mineralization is open to the northwest for at least another 1,970 ft (600 m). Anomalous copper values from the ionic sampling (FIGURE 5) outline a northeast geochemical trend that parallels early successful drilling. A separate northwest trend is similarly defined by higher copper values and is being tested by current drilling. Similar patterns were outlined by molybdenum, gold and silver. Samples were collected on 328 ft (100 m) centers over the 160-acre parcel.
George Ogilvie, Arizona Sonoran President and CEO stated, “Parks/Salyer exploration results continue to support our preliminary large-scale exploration target with Cactus East-style porphyry copper. While the target is running on a northeasterly trend towards the Cactus Mine, these results push the mineralization a significant distance to the west. We continue to note the high-grade nature of leachable oxide and enriched style mineralization within intercepts spanning hundreds of feet. These results support the Exploration Target thesis to deliver significant scale to the Cactus Preliminary Economic Assessment mine plan. It remains our intent to issue a maiden mineral resource on our Parks/Salyer discovery within the Cactus Feasibility Study.”
Parks/Salyer Exploration Target
The holes drilled to date on the P/S Project continue to support the Exploration Target (see PR dated February 10, 2022 for details and cautionary language). On a preliminary basis, drilling is demonstrating a scalable underground opportunity to further expand the leachable inventory at Cactus. The total underground exploration target (the “Exploration Target”) represents an area of approximately 4,000 ft x 4,000 ft (1.2 km x 1.2 km) supported by magnetics, regional drilling results and ionic leach sampling previously conducted by ASCU. The Exploration Target at the P/S Project comprises:
- 40-90 M tons of potential leachable material @ 1.05%- 1.3% TSol for potential of 1.0-2.35 B lbs of contained copper
- 8-35 M tons of potential primary material @ 0.85-1.05% CuT for 0.15-0.75 B lbs of contained copper
Geologic Description of Drilling Results at P/S
The Company’s 100%-owned Parks/Salyer Project is located 1.3 mi (2 km) down trend to the southwest of the Cactus Project on private land. The P/S Project is interpreted to represent a north trending horst block of porphyry copper mineralization similar in characteristics to that of Cactus West. Results to date at Parks/Salyer support that interpretation with mineral zonation also consistent with Cactus containing oxide, chalcocite enrichment, and primary chalcopyrite-molybdenite mineralization (see FIGURES 1-4). Exploration drilling to date has been undertaken from the Company's southern property boundary northward along the northeasterly regional trend of known copper mineralization.
ECP-065 was drilled on the south-west side of the known Parks/Salyer intercepts to date. Drilling intercepted bedrock at 755 ft (230.1 m) with the mineralized host rock being silicified and sericitized brecciated granite. An oxide zone was intersected at 821 ft (250.2 m) with high-grade chalcocite enrichment interspersed with leaching encountered from 948 ft (289 m) to 1,360.3 ft (414.6 m), similar to other holes drilled in the south. From 1,360.3 ft (414.6 m) to 1,569.5 ft (478m) continuous chalcocite enrichment was drilled before entering low grade primary disseminated mineralization that terminated at the basement fault at 2,297.7 ft (700.3 m).
ECP-057 was drilled on the north-west side of known mineralization and encountered bedrock at 770 ft (234.6 m). Brecciated granite was the main host to mineralization with quartz monzonite porphyries present at depth and alteration transitioning from hematite to sericite down hole. A thicker oxide zone was encountered from 1,165.1 ft (355 m) with strong disseminated chalcocite mineralization intercepted between 1,504 ft (457.5 m) to 1,806 ft (550.5 m). Primary chalcopyrite mineralization continued from the base of the enrichment to the basement fault at 2,322.5 ft (708 m).
TABLE 1: Drilling Highlights
Holeid |
Zone |
Feet |
Metres |
CuT |
Tsol |
Mo |
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from |
to |
length |
from |
to |
length |
|||||
ECP-057 |
Oxide |
1,165.1 |
1,364.5 |
199.4 |
355.1 |
415.9 |
60.8 |
0.86 |
0.81 |
0.033 |
incl |
1,205.0 |
1,307.0 |
102.0 |
367.3 |
398.4 |
31.1 |
1.04 |
0.97 |
0.028 |
|
and |
1,343.5 |
1,364.5 |
21.0 |
409.5 |
415.9 |
6.4 |
1.35 |
1.29 |
0.055 |
|
Enriched |
1,396.6 |
1,425.3 |
28.7 |
425.7 |
434.4 |
8.7 |
3.40 |
3.39 |
0.081 |
|
Enriched |
1,504.0 |
1,806.0 |
302.0 |
458.4 |
550.5 |
92.0 |
1.23 |
1.21 |
0.021 |
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incl |
1,504.0 |
1,514.0 |
10.0 |
458.4 |
461.5 |
3.0 |
7.95 |
7.94 |
0.112 |
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and |
1,551.0 |
1,626.0 |
75.0 |
472.7 |
495.6 |
22.9 |
1.65 |
1.64 |
0.037 |
|
Primary |
1,806.0 |
2,233.0 |
427.0 |
550.5 |
680.6 |
130.1 |
0.19 |
0.02 |
0.009 |
|
incl |
1,806.0 |
1,867.0 |
61.0 |
550.5 |
569.1 |
18.6 |
0.40 |
0.06 |
0.010 |
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and |
1,955.0 |
1,995.0 |
40.0 |
595.9 |
608.1 |
12.2 |
0.33 |
0.03 |
0.020 |
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ECP-065 |
Oxide |
821.0 |
849.0 |
28.0 |
250.2 |
258.8 |
8.5 |
1.74 |
1.30 |
0.002 |
Enriched |
948.0 |
984.5 |
36.5 |
289.0 |
300.1 |
11.1 |
0.84 |
0.81 |
0.033 |
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including |
948.0 |
958.0 |
10.0 |
289.0 |
292.0 |
3.0 |
2.32 |
2.28 |
0.035 |
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Enriched |
1,011.0 |
1,020.3 |
9.3 |
308.2 |
311.0 |
2.8 |
1.82 |
1.77 |
0.024 |
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Enriched |
1,079.0 |
1,120.0 |
41.0 |
328.9 |
341.4 |
12.5 |
1.13 |
1.10 |
0.023 |
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Enriched |
1,170.3 |
1,610.0 |
439.7 |
356.7 |
490.7 |
134.0 |
0.92 |
0.90 |
0.033 |
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incl |
1,180.0 |
1,265.0 |
85.0 |
359.7 |
385.6 |
25.9 |
1.43 |
1.40 |
0.042 |
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and |
1,397.0 |
1,534.0 |
137.0 |
425.8 |
467.6 |
41.8 |
1.19 |
1.17 |
0.053 |
|
Primary |
1,610.0 |
2,297.7 |
687.7 |
490.7 |
700.3 |
209.6 |
0.23 |
0.06 |
0.005 |
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incl |
1,640.0 |
1,770.0 |
130.0 |
499.9 |
539.5 |
39.6 |
0.30 |
0.19 |
0.006 |
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and |
2,057.0 |
2,107.0 |
50.0 |
627.0 |
642.2 |
15.2 |
0.36 |
0.03 |
0.007 |
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- Intervals are presented in core length and are drilled with vertical dip angles.
- Drill assays assume a mineralized cut-off grade of 0.5% CuT reflecting the potential for heap leaching in the case of Oxide and Enriched based on underground material, or in the case of Primary material using a 0.1% CuT cutoff to provide typical average grades. Holes were terminated below the basement fault.
- Assay results are not capped. Intercepts are aggregated within geological confines of major mineral zones.
- True widths are not known.
Table 2: Drilling details
Hole |
Easting |
Northing |
Elevation (ft) |
Depth (ft) |
Azimuth |
Dip |
ECP-057 |
421,767.0 |
3,645,256.7 |
1,380.7 |
2,345.3 |
0 |
90 |
ECP-065 |
421,462.2 |
3,644,981.3 |
1,370.4 |
2,379.2 |
0 |
90 |
Quality Assurance / Quality Control
Drilling completed on the project in 2020 and 2021 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 1-5: https://arizonasonoran.com/projects/exploration/maps-and-figures/
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, develop the Cactus Project 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.
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.
