Arizona Sonoran drills 1.17% copper over 439 feet of at Park/Salyer, Arizona
Arizona Sonoran Copper Company Inc. [ASCU-TSX; ASCUF-OTCQX] has released assays from seven drill holes from the Parks/Salyer infill program, Arizona. Drill spacing from the 100%-owned Parks/Salyer deposit is being reduced to 250 feet (76 metres), with the aim to upgrade the current inferred mineral resource to an indicated category. The total program consists of 105,000 feet (32,000 metres) or 46 holes, of which 35 infill core holes (77,720.5 feet | 23,689 metres) have now been drilled. Parks/Salyer (P/S) is located on contiguous land ~1.3 miles (2 km) southwest of the 100%-owned Cactus Mine Project located 40 miles (64 km) southeast of the Phoenix, Arizona.
The program continues to support the tenor of mineralization and has extended the high-grade zones in the north and south as per the grade thickness map. Drilling has been staged to infill areas closest to the inferred high-grade core initially, before expanding out toward the west.
Additionally, the company has successfully completed three hydrology holes at Parks/Salyer consisting of one oriented core hole and two previously drilled metallurgical holes. The hydrology holes will collect groundwater data in the vicinity of the Parks/Salyer deposit.
Highlights included drill hole ECP-113 that returned 438.8 feet (133.7 metres) at 1.17% CuT, 1.13% Cu TSol, 0.008% molybdenum (enriched), including 58.4 feet (17.8 metres) at 4.0% CuT, 3.82% Cu Tsol and 0.021% Mo.
ECP-112 returned 528.2 ft (161 m) at 1.11% CuT, 0.75% Cu Tsol, 0.013% Mo (enriched), including 176.8 ft (53.9 m) at 1.52% CuT, 0.98% Cu Tsol and 0.011% Mo.
ECP-105 returned 562.7 ft (171.5 m) at 0.93% CuT, 0.77% Cu Tsol and 0.013% Mo (enriched), including 258.0 ft (78.6 m) at 1.35% CuT, 1.12% Cu Tsol and 0.017% Mo; 556.7 ft (169.7 m) at 0.63% CuT, 0.028% Mo (primary).
ECP-118 returned 291.5 ft (88.8 m) at 1.05% CuT, 0.91% Cu Tsol, 0.006% Mo (enriched). ECP-104 returned 792.8 ft (241.6 m) at 0.37% CuT and 0.006% Mo (primary). True widths are not known
George Ogilvie, Arizona Sonoran President and CEO commented, “With a post financing cash balance of US$31 million, we are well financed to deliver key upcoming catalysts. This infill to indicated drilling program, now 74% complete, was designed to improve the resource category thus demonstrating an initial reserve calculation and is expected to be finalized by the end of March with all assays returned within the second quarter. These on budget and on time results will feed into the upcoming PFS, where ASCU is rescoping the Cactus base case PEA to include the Parks/Salyer project’s oxide and enriched material.”
The current 105,000-foot (32,000 m) drilling program is reducing drill spacings to 250 feet, aimed at upgrading the mineral resource category to indicated in support of the potential definition of maiden reserves in the upcoming PFS. To date, 43,788 feet (13,347 m) or 20 holes have been reported via press release, defining a high-grade zone within the eastern half of the deposit, extending westward along the southern portion of the deposit, as demonstrated by the grade/thickness map of completed drilling.
Chalcocite and covellite are the dominant copper mineral species identified in the enriched mineralization, replacing primary pyrite and chalcopyrite in their original depositional habits, such as veins, breccia fillings, voids and disseminations. Chalcocite also tends to replace covellite as well as 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) 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.