Arizona Sonoran Copper Company Inc. (TSX:ASCU |
OTCQX:ASCUF) (“ASCU” or the “Company”) today reports the first
16 drill holes (19,219 ft | 5,858 m) from an infill drilling
program at MainSpring, within the 100%-owned Cactus Project in
Arizona (see FIGURES 1-14). Drilling is infilling the
shallow mineralization to the southern end of the area, in support
of a potential open pit design. An open pit design using the
inferred category resources is being evaluated for inclusion within
the pending Preliminary Economic Assessment (“PEA”), expected in Q3
2024.
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The MainSpring infill drill program is reducing drill spacings
from 500 ft (152 m) to 250 ft (76 m) to upgrade the pending
MainSpring mineral resource classification from inferred to an
indicated category, funded by the Company. Additionally, the
Geology team is concurrently conducting an inferred drill program
at Cactus West. The Cactus West program is focused on expanding the
known primary sulphide mineral resource and funded by Nuton
Technologies, as part of the Option to Joint Venture agreement
announced December 14, 2023.
Highlights:
- Near surface mineralization within 100 m of surface in southern
MainSpring; infill drilling at 250 ft (76 m) drill spacings
- ECM-230*: 827 ft (252 m) @ 0.30% CuT of continuous
mineralization
- 461 ft (141 m) @ 0.45% CuT, 0.36% Cu TSol, 0.001% Mo
(enriched)
- Incl. 60 ft (18 m) @ 1.68% CuT, 1.60% Cu TSol, 0.001% Mo
- ECM-236: 383 ft (117 m) @ 0.39% CuT of continuous
mineralization
- 41 ft (13 m) @ 0.23% CuT, 0.20% Cu TSol, 0.002% Mo (ox) - 65 m
from surface
- 275 ft (84 m) @ 0.46% CuT, 0.41% Cu TSol, 0.002% Mo
(enriched)
- ECM-231: 498 ft (152 m) @ 0.28% CuT, 0.24% Cu TSol
(enriched)
- Incl. 56 ft (17 m) @ 0.43% CuT, 0.40% Cu TSol, 0.001% Mo
- And 49 ft (15 m) @ 0.71% CuT, 0.66% Cu TSol, 0.001% Mo
NOTE: True widths are not known; * Interval includes 0.1 ft
(0.03 m) of missing core
George Ogilvie, Arizona Sonoran President and CEO
commented, “ASCU continues to demonstrate itself as a
lower-risk copper developer, with a short timeframe to construction
decision and the potential to benefit from this copper cycle. Our
Pre-Feasibility Study issued in February of this year set a solid
foundation, from which our team is building opportunities and
optimizations, while assuming current and realistic economic
assumptions. Specifically, MainSpring’s shallow low-grade
mineralization is supportive of a potential open-pit immediately
south of Parks/Salyer. Our pending PEA will explore this potential,
as well as a first look at the potential impacts of heap leaching
the Cactus Mine primary sulphides using the Nuton leaching
technologies.
We are a unique emerging brownfields developer working towards a
construction decision in the near term. While the team integrates
the several new opportunities presented to us through the continued
expansion of our porphyry system, we remain focused on the goal of
advancing Cactus to a construction decision and presenting a solid
mine plan with low execution risk.”
Integrated Preliminary Economic Study
The Integrated Preliminary Economic Study is on track and on
budget for completion in 3Q 2024. The study will explore two mining
scenarios which will assume the same inputs utilized within the
February 2024 Pre-Feasibility Study (“PFS”) (see PR dated
February 21, 2024 or the Company’s SEDAR+ profile). The
purpose is to demonstrate the economic potential of MainSpring, and
a first look at the potential economic uplift from Nuton
Technologies. The two scenarios will be outlined as:
- Scenario 1: Oxides and Enriched Material from Cactus West,
Cactus East, Parks/Salyer, MainSpring and the Stockpile,
- Scenario 2: Scenario 1, and the inclusion of primary sulphides
from all sources of material, using the Nuton leaching
technologies.
Drilling and Geology Recap
The indicated drilling at MainSpring began immediately following
the completion of the inferred drilling program and is in-filling
the 500 ft (152 m) spaced holes to 250 ft (76 m). Drilling began
where mineralization is closest to surface (as shallow as 140 ft |
43 m) to define an indicated shallow starter pit. The inferred
drilling shows that copper grades increase, and mineralization
thickens to the north and northwest into the gap between MainSpring
and Parks/Salyer, additionally depth to bedrock also increases to
the north and northwest. Infill drilling is expected to continue to
the north and northwest to push the potential starter pit in those
directions. The lower copper grades at MainSpring are expected and
coincide with remnant enriched, oxide and primary mineralization
within predominantly leach cap. Copper grades, mineralization
thickness and mineralization continuity are all expected to
increase north and west from MainSpring into the gap zone.
TABLE 1: Significant Drilling Intercepts
Hole
id
Zone
Feet
Meters
CuT
(%)
Cu
Tsol
(%)
Mo
(%)
from
to
length
from
to
length
ECM-223
oxide
137.0
162.1
25.1
41.8
49.4
7.7
1.12
0.94
0.001
enriched
685.5
725.0
39.5
208.9
221.0
12.0
0.83
0.81
0.001
enriched
797.0
940.6
143.6
242.9
286.7
43.8
0.19
0.14
0.001
primary
940.6
1,148.0
207.4
286.7
349.9
63.2
0.14
0.02
0.001
ECM-224
oxide
177.0
232.5
55.5
53.9
70.9
16.9
0.20
0.20
0.005
enriched
297.2
414.4
117.2
90.6
126.3
35.7
0.42
0.41
0.002
enriched
520.0
611.3
91.3
158.5
186.3
27.8
0.38
0.36
0.001
including
520.0
556.0
36.0
158.5
169.5
11.0
0.69
0.69
0.001
primary
611.3
997.0
385.7
186.3
303.9
117.6
0.18
0.03
0.001
ECM-225
enriched
406.4
655.0
248.6
123.9
199.6
75.8
0.36
0.35
0.003
including
406.4
447.0
40.6
123.9
136.2
12.4
0.94
0.92
0.002
enriched
1014.0
1,054.0
40.0
309.1
321.3
12.2
0.12
0.11
0.007
enriched
1157.8
1,299.0
141.2
352.9
395.9
43.0
0.11
0.10
0.004
primary
1299.0
1,343.0
44.0
395.9
409.3
13.4
0.13
0.06
0.005
primary
1475.8
1,541.8
66.0
449.8
469.9
20.1
0.13
0.02
0.004
primary
1612.0
1,662.0
50.0
491.3
506.6
15.2
0.12
0.02
0.001
ECM-226
oxide
385
512
127
117.3
156.1
38.7
0.23
0.185
0.001
including
385.0
421.0
36.0
117.3
128.3
11.0
0.41
0.39
0.001
enriched
569.2
677.0
107.8
173.5
206.3
32.9
0.33
0.29
0.001
primary
702.0
854.8
152.8
214.0
260.5
46.6
0.13
0.03
0.001
ECM-227
enriched
467.0
575.0
108.0
142.3
175.3
32.9
0.37
0.36
0.002
including
467.0
490.2
23.2
142.3
149.4
7.1
0.76
0.74
0.002
enriched
615.0
645.0
30.0
187.5
196.6
9.1
0.11
0.11
0.002
primary
745.0
1,143.0
398.0
227.1
348.4
121.3
0.14
0.02
0.001
ECM-228
enriched
538.0
569.0
31.0
164.0
173.4
9.4
0.31
0.29
0.001
primary
702.0
792.0
90.0
214.0
241.4
27.4
0.66
0.04
0.001
including
720.0
740.0
20.0
219.5
225.6
6.1
2.16
0.09
0.001
ECM-229
enriched
428.6
531.5
102.9
130.6
162.0
31.4
0.22
0.21
0.002
primary
574.0
1,134.2
560.2*
175.0
345.7
170.7*
0.12
0.02
0.001
including
633.0
673.0
40.0
192.9
205.1
12.2
0.24
0.02
0.001
ECM-230
enriched
453.0
543.1
90.1
138.1
165.5
27.5
0.17
0.16
0.001
including
505.0
543.1
38.1
153.9
165.5
11.6
0.29
0.28
0.001
enriched
621.8
1,082.8
461.0
189.5
330.0
140.5
0.45
0.36
0.001
including
1011.0
1,071.0
60.0
308.2
326.4
18.3
1.68
1.60
0.001
primary
1082.8
1,280.0
197.2*
330.0
390.1
60.1*
0.13
0.03
0.001
ECM-231
enriched
588.8
1,087.0
498.2
179.5
331.3
151.9
0.28
0.24
0.002
including
588.8
644.3
55.5
179.5
196.4
16.9
0.43
0.40
0.001
and
673.5
722.8
49.3
205.3
220.3
15.0
0.71
0.66
0.001
ECM-232
oxide
323.0
359.0
36.0
98.5
109.4
11.0
0.30
0.29
0.003
enriched
440.0
539.0
99.0
134.1
164.3
30.2
0.21
0.19
0.001
primary
539.0
616.0
77.0
164.3
187.8
23.5
0.17
0.02
0.001
primary
775.5
820.0
44.5
236.4
249.9
13.6
0.24
0.03
0.001
ECM-233
oxide
188.0
228.0
40.0
57.3
69.5
12.2
0.15
0.15
0.001
oxide
349.0
381.0
32.0
106.4
116.1
9.8
0.18
0.07
0.001
enriched
624.2
822.4
198.2
190.3
250.7
60.4
0.20
0.13
0.001
primary
822.4
1,090.2
267.8
250.7
332.3
81.6
0.15
0.03
0.001
ECM-234
oxide
362.8
415.4
52.6
110.6
126.6
16.0
0.15
0.11
0.001
enriched
598.0
617.6
19.6
182.3
188.2
6.0
0.53
0.48
0.001
primary
617.6
967.0
349.4
188.2
294.7
106.5
0.18
0.02
0.001
including
850.0
892.0
42.0
259.1
271.9
12.8
0.28
0.05
0.001
ECM-235
enriched
363.9
426.1
62.2
110.9
129.9
19.0
0.16
0.16
0.001
enriched
456.7
517.9
61.2
139.2
157.9
18.7
0.23
0.23
0.002
enriched
567.1
601.5
34.4
172.9
183.3
10.5
0.12
0.12
0.002
primary
799.2
1,204.0
404.8
243.6
367.0
123.4
0.13
0.02
0.001
ECM-236
ox/enr
213.0
254.3
41.3
64.9
77.5
12.6
0.23
0.20
0.003
primary
375.0
455.0
80.0
114.3
138.7
24.4
0.15
0.05
0.001
enriched
515.0
543.3
28.3
157.0
165.6
8.6
0.57
0.54
0.001
enriched
623.0
898.0
275.0
189.9
273.7
83.8
0.46
0.41
0.002
including
685.1
715.0
29.9
208.8
217.9
9.1
1.46
1.43
0.002
and
824.0
888.3
64.3
251.2
270.8
19.6
0.62
0.57
0.002
ECM-237
oxide
264.0
494.0
230.0
80.5
150.6
70.1
0.21
0.12
0.001
including
416.9
483.8
66.9
127.1
147.5
20.4
0.37
0.24
0.001
oxide
580.0
589.3
9.3
176.8
179.6
2.8
1.83
1.77
0.001
enriched
624.1
691.8
67.7
190.2
210.9
20.6
0.51
0.49
0.001
including
624.1
654.0
29.9
190.2
199.3
9.1
0.99
0.96
0.001
primary
726.0
938.0
212.0
221.3
285.9
64.6
0.15
0.03
0.001
ECM-238
enriched
595.0
715.8
120.8
181.4
218.2
36.8
0.46
0.45
0.002
including
607.3
647.0
39.7
185.1
197.2
12.1
1.08
1.07
0.001
enriched
756.0
802.0
46.0
230.4
244.4
14.0
0.18
0.15
0.001
primary
1009.0
1,056.0
47.0
307.5
321.9
14.3
0.12
0.01
0.003
- Intervals are presented in core length and are drilled with
vertical, or steep dip angles.
- Drill assays assume a mineralized cut-off grade of 0.1% CuT
reflecting the potential for heap leaching of open pit material in
the case of Oxide and Enriched and 0.1% CuT, 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.
- * Indicates interval includes missing core. Missing core
intervals ranged in length from 0.1 ft (0.03 m) to 1.0 ft (0.30
m).
Table 2: Drilling details
Hole
Easting (m)
Northing (m)
Elevation (ft)
TD (ft)
Azimuth
Dip
ECM-223
421769.0
3644272.5
1360.0
1357.0
0.0
-90.0
ECM-224
421921.6
3644271.1
1360.0
1141.0
0.0
-90.0
ECM-225
421618.4
3644426.2
1360.0
1702.7
0.0
-90.0
ECM-226
422073.6
3644270.0
1360.0
1027.0
0.0
-90.0
ECM-227
421922.4
3644423.7
1363.0
1233.5
0.0
-90.0
ECM-228
422226.4
3644268.1
1363.0
961.0
0.0
-90.0
ECM-229
422074.3
3644422.6
1360.0
1165.1
0.0
-90.0
ECM-230
421615.6
3644120.1
1360.0
1379.0
0.0
-90.0
ECM-231
421614.0
3643968.8
1360.0
1221.3
0.0
-90.0
ECM-232
422150.1
3644268.9
1360.0
989.5
0.0
-90.0
ECM-233
421767.8
3644119.9
1360.0
1183.2
0.0
-90.0
ECM-234
422075.1
3644346.5
1360.0
1164.4
0.0
-90.0
ECM-235
421846.2
3644424.5
1360.0
1387.3
0.0
-90.0
ECM-236
421766.5
3643967.4
1360.0
1092.9
0.0
-90.0
ECM-237
421919.4
3644119.8
1360.0
1008.0
0.0
-90.0
ECM-238
421999.3
3644423.1
1360.0
1205.6
0.0
-90.0
Note: All final collar coordinates are surveyed using high
precision GPS by Harvey Land Surveying Inc. The collar coordinates
reported are estimated.
Quality Assurance / Quality Control
Drilling completed on the project between 2020 and 2024 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 sample prep, analytical
methodologies, and 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 1-14:
https://arizonasonoran.com/projects/exploration/maps-and-figures/
February 21, 2024:
https://arizonasonoran.com/news-releases/arizona-sonoran-announces-a-positive-pre-feasibility-study-for-the-cactus-mine-project-with-a-us-509m-post-tax-npv-and-55-kstpa/
December 14, 2023:
https://arizonasonoran.com/news-releases/arizona-sonoran-and-nuton-llc-announce-option-to-joint-venture-on-cactus-project-in-arizona/
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. 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
This news release contains “forward-looking statements” and/or
“forward-looking information” (collectively, “forward-looking
statements”) within the meaning of applicable securities
legislation. All statements, other than statements of historical
fact, are forward-looking statements. Generally, forward-looking
statements can be identified by the use of forward-looking
terminology such as “plans”, “expect”, “is expected”, “in order
to”, “is focused on” (a future event), “estimates”, “intends”,
“anticipates”, “believes” or variations of such words and phrases
or statements that certain actions, events or results “may”,
“could”, “would”, or the negative connotation thereof. In
particular, statements regarding ASCU’s future operations, future
exploration and development activities or other development plans
constitute forward-looking statements. By their nature, statements
referring to mineral reserves or mineral resources constitute
forward-looking statements. Forward-looking statements in this news
release include, but are not limited to statements with respect to
the results (if any) of further exploration work; the mineral
resources and mineral reserves estimates of the Cactus Project (and
the assumptions underlying such estimates); the ability of
exploration work (including drilling) to accurately predict
mineralization; the timing and ability of ASCU to produce a
preliminary economic assessment (including the MainSpring property)
(if at all); the timing and ability of ASCU to produce the Nuton
Case PFS (if at all); the scope of any future technical reports and
studies conducted by ASCU; and any other information herein that is
not a historical fact. 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 and the additional risks described in ASCU’s
most recently filed Annual Information Form, annual and interim
management’s discussion and analysis, copies of which are available
on SEDAR+ (www.sedarplus.ca) under ASCU’s issuer profile.
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/20240521418040/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
Arizona Sonoran Copper (TSX:ASCU)
過去 株価チャート
から 12 2024 まで 1 2025
Arizona Sonoran Copper (TSX:ASCU)
過去 株価チャート
から 1 2024 まで 1 2025
