Arizona Sonoran Drills 1.43% Cu TSol Over 80.9 m
07 Dezember 2021 - 12:30PM
Business Wire
Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or
the “Company”), an emerging US-based copper developer and near-term
producer, announces assays from two drill holes (1,133.5 m |
3,718.9 ft) in the Cactus East deposit as part of a 9,144 m (30,000
ft) Pre-Feasibility Study (“PFS”) infill to indicated drilling
program. The drilling targeted the oxide material along the
periphery of the Cactus East Preliminary Economic Assessment
(“PEA”) underground mine plan, defining mineralization towards the
East Fault and gathering an understanding of the geometry of the
fault (see FIGURES 1-3, TABLE 1 below).
Hole ECE-021, extended mineralization 61 m (200 ft) east of the
current mineral resource shell and is one the best oxide intercepts
ever drilled at the Cactus Project. The drill intercept of
leachable material is considerably thicker and higher grade than
predicted in the area at 99.1 m (325 ft) @ 1.28% Cu TSol (total
soluble) vs 48.8 m (160 ft) @ 0.54% Cu TSol. Mineralization is open
122 m (400 ft) north, towards the NW trending East Fault. Follow up
drilling will be conducted to confirm the continuity of the
high-grade zone to the north and east adjacent to the East
fault.
Highlights:
- The drilling demonstrates continuous leachable mineralization
including extensions outwards from the mineral resource pit shell
by at least 61 m (200 ft)
- ECE-021: 1.43% Cu TSol over 80.9 m (266 ft) of oxide
mineralization; incl: 2.21% Cu TSol over 27.2 m (89 ft)
- ECE-020: 0.50% Cu TSol over 100.9 m (331 ft) of oxide
mineralization
George Ogilvie, ASCU President and CEO commented, “The
infill drilling to indicated mineral resource classification is a
key program as we move towards the Pre-Feasibility Study, expected
in mid-2022, and will underpin all future engineering work at
Cactus. The initial high grade oxide results are providing improved
data points for the upcoming PFS, while also confirming that grades
improve towards the East fault.”
TABLE 1: Drilling Highlights
Hole
Zone
Metres
Feet
TCu
Tsol
From
To
Length
From
To
Length
%
%
ECE-020
oxide
280.4
381.3
100.9
920
1251
331
0.50
0.45
incl
346.3
363.0
16.8
1136
1191
55
1.04
1.00
enriched
387.1
391.4
4.3
1270
1284
14
1.83
1.81
enriched
397.5
464.9
67.5
1304
1525
221
0.46
0.28
incl
397.5
408.4
11.0
1304
1340
36
0.69
0.67
primary
464.9
537.4
72.5
1525
1763
238
0.25
0.02
ECE-021
oxide
433.3
514.2
80.9
1422
1687
266
1.49
1.43
incl
438.3
465.4
27.2
1438
1527
89
2.30
2.21
enriched
514.2
532.5
18.3
1687
1747
60
0.65
0.62
incl
514.2
525.8
11.6
1687
1725
38
0.86
0.83
primary
532.5
581.3
48.8
1747
1907
160
0.32
0.06
- Intervals are presented in core length; are drilled with
vertical dip angles
- Drill assays assume a mineralized cut-off grade of 0.1% CuT
reflecting the potential for heap leaching in the case of Oxide and
Enriched material, or to provide typical average grades in the case
of Primary material. ECE-020 was terminated in Primary
mineralization, ECE-021 was terminated in basement rocks
intercepted at 1,900ft depth.
- Assay results are not capped. Intercepts are aggregated within
geological confines of major mineral zones.
- True widths are not known.
Table 2: Drill Details
Hole
Easting
Northing
Elevation
Depth
Azimuth
Dip
ECE-020
391662.828
65627.671
1510.244
1770.2
0.00
-90.00
ECE-021
392359.669
65410.919
1508.863
1948.7
0.00
-90.00
PFS Drilling Program Current 9,144 m (30,000 ft) Pre-Feasibility
Study (PFS) infill to indicated drilling program targets drill
spacing of 76 m (250 ft) spacing. The drilling program infills
material classified as inferred in the PEA mine plan based on the
mineral resource estimate. Assays are pending for further infill
drilling in Cactus West and Cactus East and drilling continues to
complete the program.
A total of 265 holes for 72,255 m (237,057 ft) has now been
drilled into the Cactus West and East deposit. Since 2019, ASCU
have drilled 127 of those holes for 30,468 m (99,959 ft). 49 holes
for 26,730 m (87,698 ft) have been drilled into Cactus East.
Geological Description The Cactus East Orebody has long
been recognized as the down-dropped eastern edge of the Cactus West
Orebody, with the oxide and enriched zones preserved at 304.8 m
(1,000 ft) below Cactus West, and well above the Basement Fault.
Cactus East is also preserved within a series of post-mineral
normal faults as a pyramid-shaped body with the oxide zone and
overlying leach cap at the peak.
Currently, the Cactus East underground oxide and enriched
mineral resource contains 146M lbs of copper at 0.95% TSOL in the
indicated Category and 315M lbs of copper at 0.88%TSOL in the
inferred category; any new drilling data will be used to support
the PFS expected mid-2022.
Quality Assurance / Quality Control Drilling completed on the project in 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,
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:
https://arizonasonoran.com/projects/cactus-mine-project/press-release-images/
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211207005405/en/
Alison Dwoskin, Director, Investor Relations 647-233-4348
adwoskin@arizonasonoran.com
George Ogilvie, President, CEO and Director 416-723-0458
gogilvie@arizonasonoran.com
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