Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or
the “Company”), an emerging US-based copper developer and near-term
producer, has begun its initial 6 hole (3,658 m | 12,000 ft)
drilling campaign at the Parks/Salyer property in Arizona.
Located 1.3 miles down trend to the southwest from the Cactus
Project on private land, the Company’s 100%-owned Parks/Salyer
Project demonstrates the same geological characteristics as the
Cactus Project. Parks/Salyer is part of the same high grade
porphyry copper system as the Cactus Project and is also located
within a northwest trending horst block of bedrock covered by later
Existing supporting data at Parks/Salyer includes an IP survey,
historic IP anomalies, historic drilling, an ionic leach program
diamond drill data as noted below.
Drilling Highlights (please see TABLE 1 below for
full set of drilling results and FIGURES 1-3)
- 2020 ASCU drilling
- ECP-018: 126.8 m (416 ft) of 0.69% TCu of Enriched
- ECP-019: 47.9 m (157 ft) of 1.44% TCu of Enriched
- Historic ASARCO drilling
- S-200: 67.1 m (220 ft) of 0.88% Cu of Enriched
- S-201: 33.2 m (109 ft) of 0.86% Cu of Enriched
George Ogilvie, Arizona Sonoran President and CEO stated,
“We are very excited to be commencing our 2022 exploration program
for Parks/Salyer. The current PEA and mineral resource estimate do
not account for any mineralization outside of the Cactus deposits
or the Stockpile. We have historic drilling indicating potentially
significant mineralization of the same style and nature as in the
Cactus Deposits, only 2 km from a Project with an existing 18 year
mine life. Importantly, we see the mineralization improving as we
move further north on Parks/Salyer. Exploration success at
Parks/Salyer will help us add to the forecast production base at
the Cactus Project in the longer term and develop a scalable
The property is located on contiguous Company-owned land next to
the Cactus Project. This provides the Company the opportunity to
grow access to further copper resources, resulting in potential
increase in mine life at the Cactus Project and leverage off
planned Cactus Project infrastructure and equipment.
The current campaign envisages an initial 6-hole exploration
program which will follow up on four historic diamond holes drilled
at the southern end of the target area, indicating a significant
porphyry copper system displaying mineral zonation similar to
Cactus with oxide, chalcocite enriched, and primary
chalcopyrite-molybdenite mineralization (see FIGURES 1-3).
Assuming positive program results, the Company will follow up with
an additional 6 holes (3,568 m | 12,000 ft) and expects to further
expand the program throughout 2022 dependent upon results from the
The 2022 exploration program for Parks/Salyer aims at declaring
maiden NI 43-101 maiden resources for the property by the end of
the year 2022 (subject to program success) This will support and
expand upon the 18-year, low-cost operation already envisaged at
the Cactus Project, providing the company with significant scale of
production in the longer term.
The Company now has two drill rigs on site drilling at both the
Parks/Salyer and Cactus Projects to support exploration and infill
TABLE 1: Drilling Highlights
Intervals are presented in core length;
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 to
provide typical average grades in the case of Primary material.
Holes were terminated in either Primary mineralization or the
Assay results are not capped. Intercepts
are aggregated within geological confines of major mineral
True widths are not known.
CuSEQ analysis was not performed on
samples from S-200 and S-201.
Hole Easting Northing Elevation Depth Azimuth Dip ECP-018
Quality Assurance / Quality Control
Drilling completed on the
project in 2020 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,
who is a qualified person as defined by National Instrument 43-101–
Standards of Disclosure for Mineral Projects.
Links from the Press Release FIGURES 1-3:
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 |
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 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.
version on businesswire.com: https://www.businesswire.com/news/home/20211122005999/en/
Alison Dwoskin, Director, Investor Relations 647-233-4348
George Ogilvie, President, CEO and Director 416-723-0458
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