Arizona Sonoran Copper drills 1.41% CuT over 83 feet at Cactus project, Arizona

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Arizona Sonoran Copper Company Inc. [TSX-ASCU; OTCQX-ASCUF] reported that drilling at MainSpring the 100%-owned Cactus project in Arizona has confirmed near-surface mineralization up dip from the Parks/Salyer deposit. A total of 17,650 ft (5,380 m) of drilling or 16 holes are reported herein, with 10 holes pending. The 2024 MainSpring inferred drill program (500 ft | 152 m drill spacing) is now complete and drilling continues to define indicated drill spacings (250 ft | 76 m drill spacing) with three drill rigs.

Drilling at MainSpring has extended the High Grade Mine Trend at Parks/Salyer by 650 ft (198 m) to the southwest, and traces lower grade mineralization another 2,500 ft (762 m) south, to within 140 ft (42 m) of surface. Drilling on the MainSpring Property illustrates a continuation of the porphyry system that hosts the Cactus Project deposits. The lower grade and near surface MainSpring mineralization is currently being drill tested as a potential starter open pit within a pending Preliminary Economic Assessment (PEA), which will be inclusive of a maiden MainSpring inferred resource and the application of the Nuton technologies to the primary sulphides using the same PFS assumptions, as announced on February 21, 2024 . The PEA is expected in the summer 2024 with M3 Engineering as lead consultant.

Highlights: The MainSpring zone is the southern extension of Parks/Salyer, as it daylights towards surface to within 140 ft (42 m) of surface.

MainSpring is drilled over an area of at least 2,500 ft x 3,000 ft (762 m x 915 m), up-dip of Parks/Salyer.  ECM-198 extends Parks/Salyer High Grade Mine Trend by 650 ft (198 m) to the southwest; 882 ft (269 m) at 0.44% CuT of continuous mineralization, including 83 feet (25 m) at 1.41% CuT, 1.30% Cu TSol, 0.023% Mo (enriched).

ECM-209 returned 256 ft (78 m) at 0.51% CuT, 0.44% Cu TSol, 0.003% Mo (oxide), including 98 feet (30 m) at 0.95% CuT, 0.87% Cu TSol, 0.004% Mo. – ECM-197 returned 367 feet (112 m) at 0.31% CuT, 0.26% Cu TSol, 0.002% Mo (oxide); 125 feet (38m) at 0.56% CuT, 0.47% Cu TSol, 0.003% Mo (enriched). True widths are not known

George Ogilvie, President and CEO, commented, “We are encouraged by the MainSpring drilling results to date. Since acquiring the asset in 2020 with only a Stockpile and historic records, our team has done a tremendous job outlining a copper resource of 5.2 billion pounds M&I and 2.2 billion pounds Inferred. With the issuance of our recent Pre-Feasibility Study, we reset our operational plan and economic outlook on the project based on this mineral resource, which includes reserves of 3.0 billion pounds from our four deposits. Looking forward, MainSpring is now presenting us with a new opportunity for near term growth and further optimizations to the operations and financials. Our team’s main focus now is to integrate MainSpring into the rest of the project. Within the next two quarters, we plan on issuing an inferred mineral resource on MainSpring and a PEA on Cactus and Nuton, inclusive of MainSpring. Subsequent drilling to the indicated category will feed into an updated PFS inclusive of the MainSpring opportunity by end of the year. We have entered a transitional and transformational year for the Cactus Project.”

Cactus Mineral Resources: M&I: 446M tons at 0.58% Cu for 5.2 Blbs copper. Inferred: 234M tons at 0.472% Cu for 2.2 Blbs copper. Resources at the Cactus project are a combination of leachable and primary mineralogizes

Cactus Mineral Reserves: 276Mt at 0.484% Cu TSol for 3.0 Blbs of copper.

Of the 59 completed drill holes, 26 (35,529 ft | 10,828.3 m) were drilled in 2024, and 33 (35,718.9 ft | 10,887.1 m) were previously drilled by ASCU or the former option holder. The inferred drilling at MainSpring is defining a mineralized zone at least 2,500 ft by 3,000 ft (762 m x 915 m) that trends NW toward and is contiguous with the Parks/Salyer deposit. Drilling to date shows oxide and enriched mineralization as shallow as 140 feet (42 m) from the surface in the south, and to 450 ft (137 m) on the northern end with enriched and primary mineralization extending as deep as 2,250 ft (686 m) in hole ECM-198.

MainSpring is the southern extension of the Parks/Salyer horst block, at the southwestern end of the Cactus mine trend. The Parks/Salyer deposit, comprising an indicated mineral resource of 144M tons at 1.01% copper and an inferred mineral resource of 48M tons at 0.97% copper, continues onto the MainSpring property to the south. The MainSpring mineralization, containing oxide, enriched and primary copper mineralization, thickens and increases in tenor to the north as it approaches the high-grade Parks/Salyer deposit.

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.

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