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Arizona Sonoran Copper Company Inc
Symbol ASCU
Shares Issued 109,460,044
Close 2024-09-16 C$ 1.55
Market Cap C$ 169,663,068
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Arizona Sonoran drills 646 m of 0.4% CuT at Cactus

2024-09-16 08:22 ET - News Release

Mr. George Ogilvie reports

ARIZONA SONORAN DRILLING EXPANDS PRIMARY SULPHIDE ZONE UNDER AND AROUND THE CACTUS WEST PIT

Arizona Sonoran Copper Company Inc. has released new drill assay results from its infill and stepout drilling program below the previously untested extent of primary copper mineralization around the Cactus West pit, on the Cactus project, Arizona. Drilling builds upon the company's preliminary economic assessment drill database, extending the primary sulphide zones by upward of 500 feet (152 metres) below known mineralization.

A total of 17 drill holes are reported herein for a total of 30,601 feet (9,387 m) of drilling, targeting the primary sulphides below the oxide and enriched zones at Cactus West. Stepout drilling continues with two drill rigs at Cactus West.

Drilling highlights:

  • ECW-256 -- 2,119 feet (646 m) at 0.40 per cent CuT (total copper) of continuous mineralization:
    • 1,896.6 feet (578 m) at 0.41 per cent CuT and 0.005 per cent molybdenum (primary).
  • ECW-258 -- 2,108 feet (643 m) at 0.31 per cent CuT of continuous mineralization:
    • 2,001 feet (610 m) at 0.31 per cent CuT and 0.005 per cent Mo (primary).
  • ECW-260 -- 1,901 feet (579 m) at 0.33 per cent CuT of continuous mineralization:
    • 1,696 feet (517 m) at 0.33 per cent CuT and 0.009 per cent Mo (primary).
  • ECW-266 -- 1,571 feet (479 m) at 0.33 per cent CuT of near-continuous mineralization:
    • 1,309 feet (399 m) at 0.36 per cent CuT and 0.009 per cent Mo (primary).
  • ECW-252 -- 1,002 feet (305 m) at 0.40 per cent CuT of continuous mineralization:
    • 352 feet (107 m) at 0.44 per cent CuT, 0.41 per cent Cu TSol (total soluble copper) and 0.014 per cent Mo (enriched);
    • 650 feet (198 m) at 0.37 per cent CuT and 0.017 per cent Mo (primary).

George Ogilvie, Arizona Sonoran president and chief executive officer, commented: "The drill program at Cactus West is showing significantly more primary sulphide mineralization below and outside of the existing resource pit shell. In conjunction with drilling at Cactus West, our geological team is in the process of preparing for an infill drilling program at Parks/Salyer, predominantly focused on the southern claim block (MainSpring) to move into an indicated resource ahead of a new PFS [prefeasibility study] next year. As the team's focus is on advancing Cactus to the PFS level, additional work streams are ongoing, including metallurgical column testing. New columns from the southern claim block for Parks/Salyer are anticipated to start in 4Q24, once new metallurgical core has been made available."

Drilling recap

The 2024 Cactus West infill and exploration drill program was designed to support the expansion of primary sulphide mineralization down to the basement fault below the oxide and enriched material, and laterally to extend mineralization in the south and southwest of the known resources.

Bedrock at Cactus West is exposed approximately 150 feet to the south-southeast of the Cactus West pit at Discovery Hill. The bedrock contact slopes away from Discovery Hill, with up to approximately 100 feet (30 m) of alluvium cover in all directions. Gila conglomerate lies beneath the alluvium cover and increases in thickness to the west, east and south. Mineralized bedrock lies directly beneath the Gila conglomerate, and the depth to bedrock extends from zero feet at Discovery Hill to approximately 420 feet (128 m) at drill hole ECW-241 (press release dated June 10, 2024), 1,200 feet (366 m) to the west.

The main lithologies at Cactus West are like those seen at Cactus East and Parks/Salyer. Copper mineralization is hosted by brecciated porphyritic monzonite and granite with lesser dikes composed of porphyritic dacite and local diabase. There is typically a thin enriched zone sitting above thick primary mineralization. Drilling shows that copper grades increase at depth in the primary zone in proximity to a barren potassic quartz monzonite porphyry unit. This unit is typically 100 to 200 feet thick and lies directly above the basement fault.

Drilling has extended the primary mineralization another 500 feet below and adjacent to the Cactus West open pit that was presented in the recently issued preliminary economic assessment (press release dated Aug. 7, 2024). Phase 2 of the primary exploration drilling, which continues, is testing lateral stepouts from the Cactus West PEA pit shell to the north, south and southwest.

Quality assurance/quality control

Drilling completed on the project between 2020 and 2023 was supervised by on-site Arizona Sonoran personnel who prepared core samples for assay and implemented a full QA/QC program using blanks, standards and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Skyline Laboratories in Tucson, Ariz., for analysis. Skyline's sample preparation, analytical methodologies and quality control system comply with global certifications for quality ISO 9001:2008.

Technical aspects of this news release have been reviewed and verified by Allan Schappert, CPG No. 11758, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Arizona Sonoran Copper Company Inc.

Arizona Sonoran's objectives are to become a mid-tier copper producer with low operating costs and to develop the Cactus and Parks/Salyer projects, which 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-per-cent interest in the Cactus project, which is situated on private land in an infrastructure-rich area of Arizona. Contiguous to the Cactus project is the company's 100-per-cent-owned Parks/Salyer deposit, which could allow for a phased expansion of the Cactus mine once it becomes a producing asset. The company is led by an executive management team and board which have a long-standing record of successful project delivery in North America complemented by global capital markets expertise.

We seek Safe Harbor.

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