Arizona Sonoran drills 1.23% copper over 302 feet at Parks/Salyer, Arizona

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Arizona Sonoran Copper Company Inc. [ASCU-TSX; ASCUF-OTCQX] reported results for an additional two drill holes (4,725 feet/1,440 metres) from a 12-hole program at the 100%-owned Parks/Salyer (P/S) project, Pinal County, Arizona, of which six holes have now been reported. Assay results from this most recent drilling extend known mineralization a minimum of 500 feet west of prior drilling. The initial drill program comprises 24,000 feet (~7300 m) and aims to test the extension of the porphyry copper system from the southern border of its Parks/Salyer property along the mine trend towards the Cactus Mine and within the newly defined Exploration Target Area.

Highlights included drill hole ECP-057 returned 199.4 feet of 0.86% CuT, 0.81% TSol, 0.033% molybdenum – Oxides, including 102.0 feet of 1.04% CuT, 0.97% TSol, 0.028% Mo – Oxides; 302.0 feet of 1.23% CuT, 1.21% TSol, 0.021% Mo – Enriched, including 10.0 feet of 7.95% CuT, 7.94% TSol, 0.112% Mo and 75 feet of 1.65% CuT 1.64% TSol, 0.037% Mo; and 427.0 feet of 0.19% CuT, 0.009% Mo – Primary.

Hole ECP-065 returned 439.7 feet of 0.92% CuT, 0.90% TSol, 0.033% Mo – Enriched, including 85.0 feet of 1.43% CuT, 1.40% TSol, 0.042% Mo and 137.0 feet of 1.19% CuT, 1.17% TSol, 0.053% Mo and 687.7 feet of 0.23% CuT, 0.005% Mo – Primary.

Notable to both holes, drilled on the west side of known mineralization, was the presence of higher-grade molybdenum results in both the oxide and enriched mineralization zones. Both holes support mineralization open in all directions. According to a 2019 ionic soil survey, which did not delimit the extents of the system, mineralization is open to the northwest for at least another 1,970 feet (600 m).

Anomalous copper values from the ionic sampling outline a northeast geochemical trend that parallels early successful drilling. A separate northwest trend is similarly defined by higher copper values and is being tested by current drilling. Similar patterns were outlined by molybdenum, gold and silver. Samples were collected on 328 feet (100 m) centres over the 160-acre parcel.

George Ogilvie, President and CEO, stated, “Parks/Salyer exploration results continue to support our preliminary large-scale exploration target with Cactus East-style porphyry copper. While the target is running on a northeasterly trend towards the Cactus Mine, these results push the mineralization a significant distance to the west. We continue to note the high-grade nature of leachable oxide and enriched style mineralization within intercepts spanning hundreds of feet. These results support the Exploration Target thesis to deliver significant scale to the Cactus Preliminary Economic Assessment mine plan. It remains our intent to issue a maiden mineral resource on our Parks/Salyer discovery within the Cactus Feasibility Study.”

The holes drilled to date on the Parks/Salyer Project support the Exploration Target. On a preliminary basis, drilling is demonstrating a scalable underground opportunity to further expand the leachable inventory at nearby Cactus. The total underground exploration target represents an area of approximately 4,000 x 4,000 feet (1.2 km x 1.2 km) supported by magnetics, regional drilling results and ionic leach sampling previously conducted by ASCU. The Exploration Target at the P/S Project comprises 40-90M tons of potential leachable material grading 1.05%-1.3% TSol for potential of 1.0-2.35B lbs of contained copper and 8-35M tons of potential primary material of 0.85-1.05% CuT for 0.15-0.75B lbs of contained copper.

The Parks/Salyer Project is located 1.3 miles (2 km) down trend to the southwest of the Cactus Project on private land. The P/S Project is interpreted to represent a north trending horst block of porphyry copper mineralization similar in characteristics to that of Cactus West.

ASCU’s objective is to become a mid-tier copper producer with low operating costs, develop the Cactus Project that could generate robust returns for investors, and provide a long term sustainable and responsible operation. The company’s principal asset is the 100%-owned Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona.


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