Arizona Sonoran Copper Company Inc.’s [ASCU-TSX; ASCUF-OTCQX] infill drilling at the Parks/Salyer project continues to demonstrate grades and thicknesses supportive of an underground operation within the planned prefeasibility study, expected by the first quarter of 2024.
The company is announcing an additional 9 drill hole assays from the Parks/Salyer infill to indicated program, spaced at 250 feet (76 m). A total of 45 infill drill holes are now complete, from within the 46-hole, 105,000 feet (32,000 m) planned program. Parks/Salyer is located on private land, contiguous to the Cactus Mine Project, in Pinal County, Arizona.
Highlights: ECP-122 -returned 546.5 feet (166.6 m) at 1.14% CuT (total copper), 1.00% Cu TSol, 0.007% molybdenum (enriched), including 176.5 feet (53.8 m) at 2.03% CuT, 1.88% Cu TSol, 0.005% Mo.
ECP-125 returned 545.2 feet (166.2 m) at 1.09% CuT, 0.99% Cu TSol, 0.020% Mo (enriched), including 217.0 feet (66.1 m) at 1.75% CuT, 1.66% Cu TSol, 0.009% Mo; 635.5 feet (193.7 m) at 0.46% CuT, 0.018% Mo (primary).
ECP-114 returned 463.5 feet (141.3 m) at 1.14% CuT, 0.98% Cu TSol, 0.028% Mo (enriched). ECP-116 returned 570.0 feet (173.7 m) at 0.86% CuT, 0.64% Cu TSol, 0.015% Mo (enriched).
ECP-124 rreturned 361.8 feet (110.3 m) at 1.14% CuT, 1.06% Cu TSol, 0.007% Mo (enriched), including 179.8 feet (54.8 m) at 1.87% CuT, 1.79% Cu TSol, 0.010% Mo.
ECP-119 returned 89.9 feet (27.4 m) at 2.31% CuT, 2.21% Cu TSol, 0.011% Mo (enriched); 66.2 feet (20.2 m) at 2.07% CuT, 2.02% Cu TSol, 0.012% Mo (oxide), including 14.1 feet (4.3 m) at 4.07% CuT, 4.05% Cu TSol, 0.017% Mo.
George Ogilvie, president and cCEO, commented: “In early 2022, we announced our first drill holes dedicated to defining the Parks/Salyer Project. We have advanced this greenfield parcel within the brownfield Cactus Property from discovery, through resource declaration of 2.9B lbs (at 1.015% CuT), to PFS-level within only two years. The infill to indicated program will be complete this week and by end of May, we expect to have all assays in hand for use in declaring initial reserves in the PFS by 1Q24.
“Once the infill to indicated drilling is complete the drills will continue drilling at Parks/Salyer as we move to infill to measured drilling, a requirement for our BFS in 2024.”
Infill drilling program recap: High grade intervals from drill holes ECP-114, ECP-116 and ECP-125 each illustrate significant grade thicknesses, consistent with the high-grade core initially identified by the original step out program and further delineated by the infill drilling program. In particular, ECP-125 extends the high-grade core southward towards the newly acquired MainSpring property.
Drill holes ECP-121, ECP-123, ECP-119, ECP-116, ECP-120 and ECP-122 were drilled to define the northern and eastern extents of the deposit itself, where thinner intercepts of similar grade reflect the structural thinning of the core by post mineral faulting, including the Basement Fault. Assays pending from the remainder of the program have focused mostly within the western side of the deposit, defining the area around ECP-065 with 439.7 feet at 0.97% Cu TSol and 0.033% Mo).
The 105,000-foot (32,000 m) infill drilling program is aimed at upgrading the mineral resource to the indicated category in support of the potential declaration of maiden reserves in the upcoming Pre-Feasibility. To date, 63,795 feet (19,445 m) or 29 holes have been reported, defining a core within the high-grade enrichment blanket within the eastern half of the deposit, extending westward along the southern portion of the deposit.
Chalcocite and covellite are the dominant copper species in the enrichment blanket, replacing primary pyrite and chalcopyrite in their original depositional habits, such as veins, breccia fillings, voids and disseminations. These replacements styles are representative of our enriched mineral zone. Chalcocite also tends to build on itself, resulting in zones of higher-grade mineralization where the enrichment fluids had time and opportunity to continue the secondary enrichment process.
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. Contiguous to the Cactus Project is the 100%-owned Parks/Salyer deposit that could allow for a phased expansion of the Cactus Mine once it becomes a producing asset.