Arizona Sonoran Copper intersects near surface mineralization at MainSpring project, Arizona

Arizona Sonoran Copper Company Inc. [TSX-ASCU; OTCQX-ASCUF] reported drill assay results from an exploration program at the MainSpring property, situated within the Cactus copper project in Arizona. A total of 7 of 11 ASCU drilled holes completed last year and 22 legacy holes from the previous option holder are reported here and indicate mineralization from the Parks/Salyer deposit nears surface as it extends. Future drilling will test the open pit potential of MainSpring with the intent of updating the Cactus Mineral Resource Estimate post-Prefeasibility Study (PFS).

Drilling Highlights: ECM-194 returned 1,053 ft (321 m) at 0.20% CuT, of mineralization from 147 ft (45 m) depth; 48 ft (15 m) at 0.35% CuT, 0.25% Cu TSol, 0.001% Mo (oxide); 471 ft (144 m) at 0.3% CuT, 0.29% Cu TSol, 0.001% Mo (enriched).

ECM-195 returned 503 ft (153 m) at 0.27% CuT of mineralization from 145 ft (44 m) depth; 41 ft (12.5 m) at 0.63% CuT, 0.59% Cu TSol from 145 ft (44 m) depth (enriched); 208 ft (63 m) at 0.44% CuT, 0.40% Cu TSol, 0.001% Mo (enriched) from 440 ft (134 m); 41 ft (12.5 m) at 0.63% CuT, 0.59% Cu TSol, from 145 ft (41 m) depth.

ESC-010 returned 1,027 ft (313 m) at 0.30% CuT of continuous mineralization; 170 ft (52 m) at 0.59% CuT, 0.46% Cu TSol, 0.017% Mo (enriched); 857 ft (261 m) at 0.24% CuT, 0.009% Mo (primary).

ESC-047 returned 216 ft (66 m) at 0.60% CuT, 0.51% Cu TSol, 0.011% Mo (enriched). – ESC-046 returned 175 ft (53 m) at 0.68% CuT, 0.65% Cu TSol, 0.004% Mo (enriched). ESC-030 returned 249 ft (76 m) at 0.41% CuT, 0.31% Cu TSol, 0.006% Mo (oxide). NOTE: True widths are not known

George Ogilvie, Arizona Sonoran President and CEO commented, “The MainSpring Property shows early signs of promise with continuous mineralization starting from near surface, that may have the potential for being open pittable. Given we only started drilling MainSpring late in 2023, it will not feature in our soon to be released PFS. However, with continued drilling in 1H24, it has the potential to be included in future technical studies that may further enhance the production profile and economics of the Project.”

He added: “The Cactus property continues to show itself as a lower risk copper project with few barriers to entry and low discovery costs. We are showing discovery costs per pound at Cactus of less than two cents per pound, indicating that we should continue our exploration programs, while concurrently developing our main project. Our high-performing team continues to deliver excellent results and we expect this to continue with our 2024 work program which is currently being finalized and will be announced to the market shortly.”

Title to the MainSpring property will be transferred upon making payment to the former landowner, due in February as part of the budgeted 2024 work program. The Company re-zoned PADII, the northern parcel of MainSpring, from industrial use to mining and is currently rezoning PADIII, the southern parcel, to mining use from residential. The PADIII re-zoning exercise is expected to be completed in the next few weeks. Going forward, the Company is testing the potential for MainSpring to become a starter pit for Parks/Salyer, similar to Cactus West for Cactus East.

Eleven diamond core holes for 13,627 feet (4,154 m) were completed at the MainSpring property in 2023. Drilling confirmed the presence of shallow mineralization 140 ft (43 m) from surface at the MainSpring property consisting of oxide, enriched and primary mineralization.

Drilling on the MainSpring property resumed in January 2024 with three diamond core rigs, which are working to complete a 500 ft (152.4 m) grid pattern, focused on filling out an initial inferred resource.

ASCU’s objective is to become a mid-tier copper producer with low operating costs and to develop the Cactus and Parks/Salyer Projects. 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 company’s 100%-owned Parks/Salyer deposit that could allow for a phased expansion of the Cactus Mine once it becomes a producing asset.