Arizona Sonoran Parks/Salyer Drilling Intersects 1,116.6 ft of 1.22% CuT
November 29 2022 - 5:30AM
Business Wire
Arizona Sonoran Copper Company Inc. (TSX:ASCU |
OTCQX:ASCUF) (“ASCU” or the “Company”) today releases assays
from 5 drill holes from its 105,000 ft (32,000 m) infill to
indicated drilling program at Parks/Salyer (“P/S"), located ~1.3 mi
(2 km) southwest of the Company’s Cactus Mine Project (see
FIGURES 1-9). ECP-106 intersected 645 ft of 1.58% CuT and
1.22% Cu TSol, situated 250 ft south of ECP-079 (see PR dated June
23, 2022) in the southern region of the deposit and represents the
best hole drilled to date into the Cactus and Parks/Salyer property
in terms of grade thickness. The program is reducing drill spacing
from 500 ft to 250 ft centres, and intersects continue to support
the tenor of mineralization recently released in the inferred
Mineral Resource Estimate (“MRE”) at P/S.
Highlights:
- Best hole drilled on the property:
- ECP-106: 1,116.6 ft (340.3 m) @ 1.22% CuT of continuous
mineralization, including:
- 645.0 ft (196.6 m) @ 1.58% CuT, 1.22% Cu TSol, 0.011% Mo
(enriched)
- 471.6 ft (143.7 m) @ 0.73% CuT, 0.041% Mo (primary)
- ECP-101: 789.5 ft (240.6 m) @ 0.74% CuT, 0.59% Cu TSol,
0.025% Mo (enriched)
- Incl. 98.0 ft (29.9 m) @ 1.36% CuT, 1.31% Cu TSol, 0.030%
Mo
- ECP-103: 386.0 ft (117.7 m) @ 0.99% CuT, 0.55% Cu TSol,
0.012% Mo (enriched)
- Incl. 237.0 ft (72.2 m) @ 1.22% CuT, 0.61% Cu TSol, 0.015%
Mo
- 569.8 ft (173.7 m) @ 0.58 % CuT, 0.016% Mo (primary)
- ECP-102: 533.0 ft (162.5 m) @ 0.63% CuT, 0.47% Cu TSol,
0.028% Mo (enriched)
- Infill drilling to 250 ft drill spacing, in support of an
initial Preliminary Feasibility Study (PFS) in Q4 2023/Q1
2024
George Ogilvie, Arizona Sonoran President and CEO
commented, “Drilling is focused on completing the P/S infill
drilling in anticipation of upgrading the P/S inferred mineral
resource to the indicated category. Two drills are infill drilling,
while a third is completing the auxiliary drilling for geotechnical
and hydrology necessary to properly study the deposit for future
potential mine planning. We remain on track to complete the
indicated mineral resource drilling program by end of Q1 2023 with
assays expected within Q2 2023. Pending results, we anticipate
advancing an integrated Cactus and P/S project, through to
Prefeasibility Study by Q4 2023/Q1 2024.”
Mineral Resource and Exploration Drilling Program
Recap
A total of 31 exploration holes spaced at ~500 ft drill spacings
were included in 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 Soluble 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.
TABLE 1: Parks/Salyer Drilling Highlights
Hole
Zone
Feet
Meters
CuT
TSol
Mo
from
To
length
from
to
length
%
%
%
ECP-100
enriched
844.7
865.2
20.5
257.5
263.7
6.2
0.88
0.85
0.014
oxide
1,045.0
1,075.0
30.0
318.5
327.7
9.1
0.44
0.41
0.008
oxide
1,270.4
1,300.0
29.6
387.2
396.2
9.0
0.62
0.51
0.007
enriched
1,300.0
1,669.0
369.0
396.2
508.7
112.5
0.96
0.74
0.010
including
1,302.4
1,342.0
39.6
397.0
409.0
12.1
2.90
2.85
0.010
and
1,372.0
1,392.0
20.0
418.2
424.3
6.1
1.19
1.15
0.008
and
1,451.6
1,471.0
19.4
442.4
448.4
5.9
1.17
1.16
0.012
and
1,523.2
1,543.0
19.8
464.3
470.3
6.0
2.11
1.59
0.012
and
1,619.0
1,659.0
40.0
493.5
505.7
12.2
1.13
0.38
0.019
primary
1,669.0
2,074.7
405.7
508.7
632.4
123.7
0.68
0.13
0.018
including
1,824.1
1,840.8
16.7
556.0
561.1
5.1
2.39
1.34
0.012
ECP-101
oxide
902.0
922.0
20.0
274.9
281.0
6.1
0.80
0.80
0.009
oxide
972.0
992.0
20.0
296.3
302.4
6.1
0.58
0.56
0.011
oxide
1,110.0
1,140.0
30.0
338.3
347.5
9.1
0.62
0.59
0.016
enriched
1,224.9
2,014.4
789.5
373.3
614.0
240.6
0.74
0.59
0.025
including
1,235.0
1,333.0
98.0
376.4
406.3
29.9
1.36
1.31
0.030
and
1,383.0
1,438.5
55.5
421.5
438.5
16.9
1.21
1.15
0.026
and
1,670.0
1,718.0
48.0
509.0
523.6
14.6
1.04
0.86
0.026
and
1,890.0
1,935.0
45.0
576.1
589.8
13.7
1.02
0.60
0.045
primary
2,014.4
2,148.0
133.6
614.0
654.7
40.7
0.10
0.01
0.021
ECP-102
oxide
921.3
941.0
19.7
280.8
286.8
6.0
0.65
0.41
0.003
enriched
1,098.0
1,631.0
533.0
334.7
497.1
162.5
0.63
0.47
0.028
including
1,121.0
1,161.0
40.0
341.7
353.9
12.2
0.79
0.78
0.030
and
1,231.0
1,271.0
40.0
375.2
387.4
12.2
1.07
0.91
0.021
and
1,294.8
1,335.0
40.2
394.7
406.9
12.3
0.94
0.78
0.033
and
1,414.0
1,437.0
23.0
431.0
438.0
7.0
0.95
0.85
0.023
primary
1,631.0
2,119.5
488.5
497.1
646.0
148.9
0.40
0.06
0.024
including
1,826.0
1,848.0
22.0
556.6
563.3
6.7
0.66
0.03
0.052
ECP-103
enriched
905.0
1,097.0
192.0
275.8
334.4
58.5
0.33
0.32
0.005
enriched
1,097.0
1,483.0
386.0
334.4
452.0
117.7
0.99
0.55
0.012
including
1,206.0
1,443.0
237.0
367.6
439.8
72.2
1.22
0.61
0.015
primary
1,483.0
2,052.8
569.8
452.0
625.7
173.7
0.58
0.10
0.016
including
1,483.0
1,513.0
30.0
452.0
461.2
9.1
1.01
0.07
0.030
and
1,673.0
1,693.0
20.0
509.9
516.0
6.1
1.01
0.32
0.012
and
1,803.0
1,839.0
36.0
549.6
560.5
11.0
1.04
0.60
0.005
ECP-106
enriched
693.5
710.2
16.7
211.4
216.5
5.1
0.70
0.68
0.015
enriched
863.0
1,508.0
645.0
263.0
459.6
196.6
1.58
1.25
0.011
including
873.0
938.0
65.0
266.1
285.9
19.8
2.54
2.25
0.016
and
998.0
1,048.0
50.0
304.2
319.4
15.2
1.92
1.85
0.013
and
1,228.0
1,268.0
40.0
374.3
386.5
12.2
2.09
2.03
0.009
primary
1,508.0
1,979.6
471.6
459.6
603.4
143.7
0.73
0.04
0.041
including
1,539.0
1,586.0
47.0
469.1
483.4
14.3
0.95
0.08
0.011
and
1,805.0
1,865.0
60.0
550.2
568.5
18.3
0.98
0.04
0.211
- Intervals are presented in core length and are drilled with
very near vertical dip angles.
- 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.
- 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.
- 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 (m)
Northing (m)
Elevation (ft)
TD (ft)
Azimuth
Dip
ECP-100
421929.3
3645060.0
1377.9
2157.0
0.0
-90.0
ECP-101
421764.7
3645142.0
1378.1
2266.5
0.0
-90.0
ECP-102
421772.8
3645052.5
1375.7
2252.4
0.0
-90.0
ECP-103
421848.4
3644936.9
1373.5
2060.3
0.0
-90.0
ECP-106
421923.5
3644898.2
1373.7
1979.6
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/
Press Release dated June 23, 2022:
https://arizonasonoran.com/news-releases/arizona-sonoran-drills-479-ft-of-1.32-cut-from-parks-salyer-and-announces-an-80-000-ft-24-400-m-drilling-program/
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/20221129005306/en/
Alison Dwoskin, Director, Investor Relations 647-233-4348
adwoskin@arizonasonoran.com George Ogilvie, President, CEO and
Director 416-723-0458 gogilvie@arizonasonoran.com
Arizona Sonoran Copper (TSX:ASCU)
Historical Stock Chart
From Apr 2024 to May 2024
Arizona Sonoran Copper (TSX:ASCU)
Historical Stock Chart
From May 2023 to May 2024