Arizona Sonoran Parks/Salyer Exploration Drilling Intercepts 531 ft of 1.10% TCu
07 September 2022 - 8:30PM
Business Wire
Arizona Sonoran Copper Company Inc. (TSX:ASCU |
OTCQX:ASCUF) (“ASCU” or the “Company”) today releases assays
from 9 drill holes from the 14-hole expanded exploration program at
Parks/Salyer (“P/S"), located ~1.3 mi (2 km) southwest of the
Company’s Cactus Mine Project. Drilling extended mineralization
east by up to 1,000 ft (300 m) onto the Bronco Creek ("BCE") land,
a part of the P/S Project which was acquired earlier this year (see
PR dated Feb 10, 2022). Assays are pending on 4 holes (see
FIGURES 1-6). The Company is also extending its current
ionic leach sampling survey northeast of P/S, as well as eastward
onto the BCE land.
Highlights:
- Two active drill rigs, a third rig to begin drilling
metallurgical holes late September
- Maiden mineral resource on P/S in Q4 2022
- ECP-084: 531.4 ft (162.0 m) @ 1.10% TCu, 0.98% Cu TSol,
0.012% Mo (enriched)
- Incl. 247.0 ft (75.3 m) @ 1.45% TCu, 1.35% Cu TSol, 0.014%
Mo
- And 354.0 ft (107.9 m) @ 0.65% TCu, 0.018% Mo (primary)
- ECP-086: 224.0 ft (68.3 m) @ 2.24% TCu, 2.19% Cu TSol,
0.010% Mo (enriched)
- Incl. 114.0 ft (34.7 m) @ 2.63% TCu, 2.60% Cu TSol, 0.011%
Mo
- ECP-090: 474.0 ft (144.5 m) @ 0.82% TCu, 0.73% Cu TSol,
0.007% Mo (enriched)
- And 482.0 ft (146.9 m) @ 0.42% TCu, 0.011% Mo (primary)
- ECP-092: 216.8 ft (66.1 m) @ 1.41% TCu, 1.35% Cu TSol,
0.005% Mo (enriched)
- Incl. 97.0 ft (29.6 m) @ 2.29% TCu, 2.20% Cu TSol, 0.004%
Mo
George Ogilvie, Arizona Sonoran President and CEO
commented, “These results continue to demonstrate the potential
of Parks/Salyer to underpin and augment the multi-billion-pound
Cactus copper project located only 1.3 miles (2 km) to the
northeast. These drill holes extend mineralization from the eastern
Parks/Salyer border onto the new Bronco Creek land by upwards of
1,000 ft (300 m). With drill spacing now at 500 ft (150 m) centres,
we have defined the general eastern horst block extent, with assays
pending on the west side for 4 holes. The team has now moved on to
a 250 ft (75 m) infill drilling program to increase the confidence
of the mineralization to an indicated resource category. Our goal
is to issue a maiden inferred mineral resource estimate on
Park/Salyer within Q4 2022.”
Drilling Program Recap Assay results are pending on 4
holes from the 14-hole expanded exploration drill program, whose
goal is to extend mineralization to the west and east of the
original Exploration Target. Mineralization is open locally to the
north and west, with the eastern extents generally known. To focus
resources, the Company is now well-underway with the infill to 250
ft (75 m) centre drilling program. Since starting the program on
July 17, 2022, 5 holes are now completed for a total of 11,345 ft
(3,458 m), with assays pending. A third rig is scheduled to start
drilling a 3-hole metallurgical program at Parks/Salyer in
late-September.
Assay results from the 26-hole exploration program are split
between the following press releases, with ECP-081 being added to
the initial 12 exploration program results.
13 holes: August 23, 2022, June 23, 2022, April 5, 2022,
February 10, 2022 9 holes (4 assays pending): September 7,
2022.
Bronco Creek Land In February, Cactus 110 LLC (a wholly
owned subsidiary of ASCU) announced an assignment & assumption
agreement and a royalty agreement in respect of acquiring 158 acres
of State Land. The parcel transfer was acquired from Bronco Creek
Exploration Inc., a wholly owned subsidiary of EMX Royalty
Corporation (NYSE American: EMX; TSX-V: EMX). Permitting activities
will be directed to the State and County levels in a similar
process to owning Private Land.
TABLE 1: Drilling Highlights
HOLE
ZONE
Feet
Metres
TCu
Cu TSol
Mo
from
to
length
from
to
length
%
%
%
ECP-083
oxide
1780.3
1798.2
17.9
542.6
548.1
5.5
3.82
3.45
0.005
enriched
1824.0
1971.5
147.5
556.0
600.9
45.0
0.64
0.60
0.012
Incl
1844.0
1864.0
20.0
562.1
568.1
6.1
1.35
1.28
0.013
And
1891.0
1903.8
12.8
576.4
580.3
3.9
1.12
1.04
0.015
And
1932.0
1962.0
30.0
588.9
598.0
9.1
1.23
1.15
0.010
primary
2015.0
2267.3
252.3
614.2
691.1
76.9
0.40
0.03
0.009
Incl
2015.0
2035.0
20.0
614.2
620.3
6.1
0.87
0.05
0.003
And
2193.0
2224.2
31.2
668.4
677.9
9.5
0.77
0.04
0.007
ECP-084
enriched
1250.6
1782.0
531.4
381.2
543.2
162.0
1.10
0.98
0.012
Incl
1420.0
1667.0
247.0
432.8
508.1
75.3
1.45
1.35
0.014
primary
1782.0
2136.0
354.0
543.2
651.1
107.9
0.65
0.13
0.018
Incl
1975.0
2085.0
110.0
602.0
635.5
33.5
0.98
0.27
0.022
ECP-086
enriched
1423.7
1466.6
42.9
433.9
447.0
13.1
0.90
0.88
0.005
enriched
1496.0
1556.6
60.6
456.0
474.5
18.5
1.03
1.02
0.004
Incl
1498.5
1528.0
29.5
456.7
465.7
9.0
1.68
1.65
0.004
enriched
1595.0
1819.0
224.0
486.2
554.4
68.3
2.24
2.19
0.010
Incl
1595.0
1709.0
114.0
486.2
520.9
34.7
2.63
2.60
0.011
primary
1819.0
1954.0
135.0
554.4
595.6
41.1
0.85
0.26
0.017
ECP-087
enriched
1845.0
1899.0
54.0
562.4
578.8
16.5
0.53
0.20
0.003
primary
1899.0
2360.4
461.4
578.8
719.4
140.6
0.19
0.02
0.004
ECP-088
enriched
2027.0
2047.2
20.2
617.8
624.0
6.2
1.49
1.16
0.009
ECP-089
enriched
1976.5
1983.0
6.5
602.4
604.4
2.0
1.47
1.41
0.004
enriched
2146.8
2151.7
4.9
654.3
655.8
1.5
0.59
0.58
0.003
ECP-090
enriched
907.0
1381.0
474.0
276.5
420.9
144.5
0.82
0.73
0.007
Incl
907.0
967.0
60.0
276.5
294.7
18.3
1.50
1.46
0.007
primary
1381.0
1863.0
482.0
420.9
567.8
146.9
0.42
0.05
0.011
Incl
1391.0
1542.0
151.0
424.0
470.0
46.0
0.67
0.09
0.023
ECP-091
enriched
1190.0
1505.0
315.0
362.7
458.7
96.0
0.33
0.32
0.002
Incl
1228.0
1268.6
40.6
374.3
386.7
12.4
0.76
0.75
0.008
primary
1505.0
1613.0
108.0
458.7
491.6
32.9
0.18
0.10
0.001
ECP-092
enriched
1,326.7
1,543.5
216.8
404.4
470.5
66.1
1.41
1.35
0.005
Incl
1,431.0
1,528.0
97.0
436.2
465.7
29.6
2.29
2.20
0.004
enriched
1,688.3
1,740.5
52.2
514.6
530.5
15.9
0.88
0.83
0.010
Incl
1,720.0
1,740.5
20.5
524.3
530.5
6.2
1.30
1.22
0.015
- 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.
- 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-083
422075.7
3645257.0
1387.2
2354.4
0.0
-90.0
ECP-084
421995.5
3645107.1
1382.6
2167.5
0.0
-90.0
ECP-086
422071.4
3644981.2
1379.4
1973.6
0.0
-90.0
ECP-087
421996.0
3645412.3
1389.2
2412.3
0.0
-90.0
ECP-088
422148.9
3645107.8
1383.1
2068.9
0.0
-90.0
ECP-089
422224.5
3645257.8
1390.4
2192.6
0.0
-90.0
ECP-090
422016.6
3644859.1
1375.7
1900.0
0.0
-90.0
ECP-091
422170.5
3644843.7
1377.4
1627.3
0.0
-90.0
ECP-092
422225.2
3644982.7
1381.1
1807.0
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 1-6:
https://arizonasonoran.com/projects/exploration/maps-and-figures/
February 10, 2022:
https://arizonasonoran.com/news-releases/arizona-sonoran-drills-595-ft-181.4-m-of-1.29-cut-at-parks-salyer-and-increases-existing-private-land-package/
April 5, 2022:
https://arizonasonoran.com/news-releases/arizona-sonoran-park-salyer-drilling-intercepts-302.0-ft-1.23-cut-0.021-mo-including-10.0-ft-7.95-cut-0.112-mo/
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/
August 23, 2022:
https://arizonasonoran.com/news-releases/arizona-sonoran-drills-254-ft-of-1.34-cut-from-parks-salyer/
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.
Contiguous to the Cactus Project the Company is also exploring on
its 100% owned Park Salyer property 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/20220907005477/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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