05:15:32 EDT Thu 18 Sep 2025
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Arizona Sonoran Copper Company Inc
Symbol ASCU
Shares Issued 177,539,334
Close 2025-08-26 C$ 2.64
Market Cap C$ 468,703,842
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Arizona Sonoran completes drilling at Cactus project

2025-08-27 14:32 ET - News Release

Mr. George Ogilvie reports

ARIZONA SONORAN COMPLETES PFS DRILLING AND INITIATES DFS INFILL DRILLING PROGRAM

Arizona Sonoran Copper Company Inc. has completed both the infill to indicated prefeasibility-study-(PFS)-related drilling program and a Cactus West stepout drill program for a total of 232,000 feet (70,715 metres) at the Cactus project in Arizona. PFS drilling focused in the south of the Parks/Salyer deposit to upgrade near-surface and low-grade inferred mineral resource estimates (MRE) to the indicated classification. Based on drill assays received, the company expects a high mineral resource estimate conversion rate, as infill drilling continues to intercept consistent copper porphyry mineralization at both Parks/Salyer and the Cactus West deposits. Updating the mineral resource estimate model is now well under way and an updated MRE for the Cactus project is expected soon. The MRE update, targeting an upgrade of the inferred mineral resource estimates into the measured and indicated classification, will feed into the PFS which is expected to be released in H2 2025.

In total, the PFS drilling program comprised 160,000 feet (49,000 metres), 134 drill holes, including geotechnical, hydrogeological and metallurgical drilling over the entire Cactus project in addition to the infill, inferred to indicated conversion drilling, at 250 ft (76 m) drill spacing. Drilling for the definitive feasibility study (DFS) infill indicated to measured conversion drilling program, is now under way, with two drill rigs at Parks/Salyer. The planned program comprises approximately 110 drill holes for approximately 80,000 ft (24,000 m) and is expected to be complete by early 2026. The program is expected to further derisk the Cactus project by bringing a portion of the current Parks/Salyer mineral resource estimate, targeted at the earliest phases of the projected mine plan, to drill spacings of 125 ft (38 m), as required for measured categorization. As part of the DFS program, two geotechnical and hydrogeological holes are planned, as well as an additional 10 property-wide condemnation drill holes.

Drilling highlights:

  • Parks/Salyer:
    • Parks/Salyer infill drilling expected to demonstrate approximately 100-per-cent conversion rate of copper pounds in the pending MRE update for mineralization within the previously designed pit shell, from the inferred to the measured and indicated category.
    • Confirmed continuity of low-grade and near-surface copper porphyry mineralization at 250 ft drill spacings, south of the higher-grade Parks/Salyer zone.
    • The higher-grade Parks/Salyer zone expanded farther west and south, with mineralization beginning to trend toward surface.
  • Cactus West:
    • Stepout drilling extended mineralized zones by up to 1,000 ft (300 m) to the north, south and southwest.
    • Drilling extended mineralization below the Cactus West pit shell.
  • DFS program now under way with two drill rigs:
    • Planned infill drilling to upgrade the MRE to the measured classification, in addition to condemnation, geotechnical and hydrological holes.
  • ECM-293: 1,048 ft (319 m) at 0.80 per cent CuT of continuous mineralization (Parks/Salyer):
    • 333 ft (102 m) at 1.16 per cent CuT, 0.96 per cent Cu TSol, 0.007 per cent Mo (molybdenum) (enriched);
    • 715 ft (218 m) at 0.63 per cent CuT, 0.015 per cent Mo (primary).
  • ECE-305: 761 ft (232 m) at 0.98 per cent CuT of continuous mineralization (Cactus East):
    • 146 ft (44.5 m) at 1.55 per cent CuT, 1.49 per cent Cu TSol, 0.015 per cent Mo (oxide);
    • 481 ft (147 m) at 1.00 per cent CuT, 0.95 per cent Cu TSol, 0.024 per cent Mo (enriched);
    • Including 48 ft (15 m) at 2.37 per cent CuT, 2.33 per cent Cu TSol, 0.030 per cent Mo (enriched).
  • ECW-355: 1,945 ft (593 m) at 0.39 per cent CuT of continuous mineralization (Cactus West):
    • 50 ft (15 m) at 0.74 per cent CuT, 0.71 per cent Cu TSol, 0.010 per cent Mo (enriched);
    • 1,553 ft (473 m) at 0.41 per cent CuT, 0.010 per cent Mo (primary).

Note: True widths are not known.

George Ogilvie, Arizona Sonoran president and chief executive officer, commented: "As we move through the technical study phase and increase the confidence levels of the MRE, we continue to demonstrate the Cactus project as a high-quality copper porphyry deposit. Cactus continues to show itself as a lower-risk copper asset in a Tier 1 jurisdiction, with leachable oxides and enriched material from open pits. We are focused on defining the leachable material for inclusion into the anticipated mine plans, while the stepout drilling is beginning to indicate larger mineral resource potential from Cactus West to the north, south, southwest and below the pit within largely primary sulphide zones. We look forward to updating the market again soon, first with an MRE update and then mine plan and economics within the PFS within the second half of 2025."

Drilling and geology recap

The 160,000 ft (49,000 m) of PFS Drilling was largely allocated to the Parks/Salyer deposit and brought drill hole spacings to 250-foot centres for the oxide and enriched mineralization, which will be included in the anticipated PFS mine plan. This close spaced drilling has resulted in definition of the higher-grade Parks/Salyer corridor as it trends to the southwest into the former MainSpring area. The higher-grade zone shallows significantly as it trends to the southwest, coming to within approximately 600 ft (183 m) of the surface in holes ECM-367 and ECM-377, and 138 ft (42 m) in the southernmost area. The drilling has also improved definition in our geologic models, better defining structural and lithological controls in the Parks/Salyer area to aid geotechnical studies for mine planning, pit design and high-wall studies.

In addition to the PFS Drilling, a 72,000 ft (22,000 m) stepout drill program of 45 drill holes was also completed at Cactus West, with drill spacings of up to 1,000 ft (305 m). The program extended known mineralization by up to 1,000 ft (305 m) north and 2,500 ft (760 m) south and southwest. The stepout drilling showed that potential exists to grow the Cactus West deposit, consisted largely of leachable copper in the north, and strong primary sulphide zones in the south and southwest of the former Sacaton pit, and at depth between the currently defined Cactus West and Cactus East deposits.

Quality assurance/quality control

Drilling completed between 2020 and 2025 was supervised by on-site Cactus project 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 prep, analytical methodologies and quality control system complies with global certifications for Quality ISO9001:2008.

The scientific and technical information in this press release has been reviewed and verified by Allan Schappert -- CPG No. 11758, who is independent of the company and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Arizona Sonoran Copper Company Inc.

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-per-cent 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-per-cent-owned Parks/Salyer deposit that 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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