- New drilling confirms mineralization 500 ft (152 m) to the
west of ECP-045 (595 ft @ 1.29% CuT) and 700 ft (213 m) to the west
of ECP-042 (86 ft @ 2.26% CuT, 0.020% Mo - Feb 10, 2022)
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
- Incl. 102.0 ft @ 1.04% CuT, 0.97% TSol, 0.028% Mo – Oxides
- 302.0 ft @ 1.23% CuT, 1.21% TSol, 0.021% Mo –
Enriched
- Incl. 10.0 ft @ 7.95% CuT, 7.94% TSol, 0.112% Mo
- and 75 ft @ 1.65% CuT 1.64% TSol, 0.037% Mo
- 427.0 ft @ 0.19% CuT, 0.009% Mo – Primary
- ECP-065 - 439.7 ft @ 0.92% CuT, 0.90%
TSol, 0.033% Mo – Enriched
- Incl. 85.0 ft @ 1.43% CuT, 1.40% TSol, 0.042% Mo
- and 137.0 ft @ 1.19% CuT, 1.17% TSol, 0.053% Mo
- 687.7 ft @ 0.23% CuT, 0.005% Mo – Primary
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
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
incl
1,504.0
1,514.0
10.0
458.4
461.5
3.0
7.95
7.94
0.112
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
and
1,955.0
1,995.0
40.0
595.9
608.1
12.2
0.33
0.03
0.020
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
including
948.0
958.0
10.0
289.0
292.0
3.0
2.32
2.28
0.035
Enriched
1,011.0
1,020.3
9.3
308.2
311.0
2.8
1.82
1.77
0.024
Enriched
1,079.0
1,120.0
41.0
328.9
341.4
12.5
1.13
1.10
0.023
Enriched
1,170.3
1,610.0
439.7
356.7
490.7
134.0
0.92
0.90
0.033
incl
1,180.0
1,265.0
85.0
359.7
385.6
25.9
1.43
1.40
0.042
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
incl
1,640.0
1,770.0
130.0
499.9
539.5
39.6
0.30
0.19
0.006
and
2,057.0
2,107.0
50.0
627.0
642.2
15.2
0.36
0.03
0.007
- 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220405005351/en/
For more information: 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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