Arizona Sonoran drills 1.34% copper over 253.7 feet at Parks/Salyer, Arizona
Arizona Sonoran Copper Company Inc. [ASCU-TSX; ASCUF-OTC] reported assays from the final six drill holes at the 100%-owned Parks/Salyer (P/S) Project to complete its initial 12-hole (27,722.6 ft /8,450 m) exploration program.
These results extend mineralization to the north and the west of the P/S Exploration Target and demonstrate the continuity of grade and tonnage within the porphyry copper target located 1.3 mi (2 km) from the Cactus Mine. The company continued its 500-foot (152 m) centre program to the west and eastward onto newly leased land with an additional 14-hole program (all holes are complete, with assays pending).
As a result of ongoing drilling results, ASCU has moved to a 105,000-foot (32,000 m) drilling program with two active drill rigs, to infill the P/S Project to 250 feet (76 m) centres. By year end, ASCU is expecting to have completed a total of 165,000 feet (50,290 m) of drilling on the project.
Highlights include drill hole ECP-074 that returned 253.7 feet (77.3 m) at 1.34% total TCu, 1.30% Cu TSol and 0.011% Mo (enriched); including 111.2 feet (33.9 m) at 1.79% TCu, 1.75% Cu TSol and 0.013% Mo; 490.8 feet (149 m) at 0.30% TCu, 0.004% Mo (primary).
ECP-080 returned 191.0 feet (58.2 m) at 1.26% TCu, 1.20% Cu TSol and 0.033% Mo (enriched); 45 feet (13.7 m) at 2.37% TCu, 2.25% Cu TSol and 0.032% Mo (enriched); and 664 feet (202.4 m) at 0.29% TCu, 0.004% Mo (primary).
ECP-081 returned 237 feet (72.3 m) at 0.70% TCu and 0.61% Cu TSol (oxide). ECP-075 returned 57.2 feet (17.4 m) at 3.63% TCu, 3.47% Cu TSol and 0.013% Mo (enriched); including 3.4 ft (1 m) at 12.57% TCu, 10.54% Cu TSol and 0.024% Mo.
Expanding Exploration Target footprint: 1,000 feet (305 m) to the west (ECP-075 and ECP-074) in the north; 500 feet (152 m) to the north (ECP-081).
George Ogilvie, President and CEO commented, “Results from the initial 12-hole drilling program confirms the encouraging target and justifies the focus we’ve placed on Parks/Salyer. Assays continue to demonstrate a porphyry copper system with similar grade to the Cactus East deposit, with greater thicknesses, and within the broader mineralized system on which our Cactus Mine, Parks/Salyer Project and even Northeast Extension are situated. We will continue to drill out the P/S Project demonstrating the optionality of scale and growth beyond our Cactus Mine as a new major discovery for our Company. Our goal in the short term will be to infill drill Park Salyer on 250-foot centres, allowing for a Mineral Resource Estimate predominantly in the Indicated Category that can then be included in a Pre-Feasibility Study.”
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 the Cactus deposits.
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 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.