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Arizona Sonoran Copper Company Inc
Symbol ASCU
Shares Issued 69,766,408
Close 2021-11-19 C$ 2.20
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Arizona Sonoran starts drilling at Parks/Salyer

2021-11-22 06:48 ET - News Release

Mr. George Ogilvie reports

ARIZONA SONORAN BEGINS EXPLORATION DRILLING AT PARKS/SALYER

Arizona Sonoran Copper Company Inc. has begun its initial six-hole (3,658 metres/12,000 feet) drilling campaign at the Parks/Salyer property in Arizona.

Located 1.3 miles down trend to the southwest from the Cactus project on private land, the company's 100-per-cent-owned Parks/Salyer project demonstrates the same geological characteristics as the Cactus project. Parks/Salyer is part of the same high-grade porphyry copper system as the Cactus project and is also located within a northwest-trending horst block of bedrock covered by later conglomerates.

Existing supporting data at Parks/Salyer include an IP (induced polarization) survey, historic IP anomalies, historic drilling and ionic leach program diamond drill data as noted below.

Drilling highlights (please see the associated table for a full set of drilling results):

  1. 2020 Arizona Sonoran Copper Company drilling:
    1. ECP-018: 126.8 metres (416 feet) of 0.69 per cent TCu (total copper) of enriched mineralization;
    2. ECP-019: 47.9 m (157 feet) of 1.44 per cent TCu of enriched mineralization;
  2. Historic Asarco drilling:
    1. S-200: 67.1 m (220 feet) of 0.88 per cent Cu of enriched mineralization;
    2. S-201: 33.2 m (109 feet) of 0.86 per cent Cu of enriched mineralization.

George Ogilvie, Arizona Sonoran president and chief executive officer, stated: "We are very excited to be commencing our 2022 exploration program for Parks/Salyer. The current PEA and mineral resource estimate do not account for any mineralization outside of the Cactus deposits or the stockpile. We have historic drilling indicating potentially significant mineralization of the same style and nature as in the Cactus deposits, only two km from a project with an existing 18-year mine life. Importantly, we see the mineralization improving as we move further north on Parks/Salyer. Exploration success at Parks/Salyer will help us add to the forecast production base at the Cactus project in the longer term and develop a scalable operation."

The property is located on contiguous company-owned land next to the Cactus project. This provides the company the opportunity to grow access to further copper resources, resulting in potential increase in mine life at the Cactus project and leverage off planned Cactus project infrastructure and equipment.

The current campaign envisages an initial six-hole exploration program, which will follow up on four historic diamond holes drilled at the southern end of the target area, indicating a significant porphyry copper system displaying mineral zonation similar to Cactus with oxide, chalcocite enriched and primary chalcopyrite-molybdenite mineralization. Assuming positive program results, the company will follow up with an additional six holes (3,568 m/12,000 ft) and expects to further expand the program throughout 2022 dependent upon results from the initial drilling.

The 2022 exploration program for Parks/Salyer aims at declaring maiden National Instrument 43-101 maiden resources for the property by the end of the year 2022 (subject to program success). This will support and expand upon the 18-year, low-cost operation already envisaged at the Cactus project, providing the company with significant scale of production in the longer term.

The company now has two drill rigs on site drilling at both the Parks/Salyer and Cactus projects to support exploration and infill programs, respectively.

                                   DRILLING HIGHLIGHTS
  
Hole          From        To    Length         From        To      Length       TCu      Tsol
               (m)       (m)       (m)         (ft)      (ft)        (ft)       (%)       (%)

ECP-018      275.5     281.3       5.8        904.0     923.0        19.0      0.75      0.73
             371.9     498.7     126.8      1,220.0   1,636.0       416.0      0.69      0.59
             371.9     385.6      13.7      1,220.0   1,265.0        45.0      1.54      1.52
             623.8     647.4      23.6      2,046.7   2,124.0        77.3      0.30      0.02
ECP-019      296.7     328.9      32.2        973.5   1,079.0       105.5      0.76      0.72
             359.2     434.6      75.4      1,178.5   1,426.0       247.5      0.71      0.57
             469.4     517.2      47.9      1,540.0   1,697.0       157.0      1.44      1.32
             517.2     628.5     111.3      1,697.0   2,062.0       365.0      0.51      0.06
S-200        214.0     223.7       9.8        702.0     734.0        32.0      0.78
             275.8     288.6      12.8        905.0     947.0        42.0      1.25
             275.8     281.0       5.2        905.0     922.0        17.0      1.81
             315.2     382.2      67.1      1,034.0   1,254.0       220.0      0.80
             382.2     545.6     163.4       ,254.0   1,790.0       536.0      0.71
S-201        284.7     293.2       8.5        934.0     962.0        28.0      1.13
             332.8     344.7      11.9      1,092.0   1,131.0        39.0      0.60
             379.5     412.4      32.9      1,245.0   1,353.0       108.0      0.60
             379.5     394.4      14.9      1,245.0   1,294.0        49.0      0.91
             428.5     461.8      33.2      1,406.0   1,515.0       109.0      0.86
             461.8     494.1      32.3      1,515.0   1,621.0       106.0      0.88
             504.7     596.8      92.0      1,656.0   1,958.0       302.0      0.40

(1) Intervals are presented in core length and are drilled with vertical dip angles.
(2) Drill assays assume a mineralized cut-off grade of 0.5 per cent CuT reflecting the 
potential for heap leaching in the case of oxide and enriched based on underground material, 
or to provide typical average grades in the case of primary material. Holes were terminated 
in either primary mineralization or the basement fault.
(3) Assay results are not capped. Intercepts are aggregated within geological confines of 
major mineral zones.
(4) True widths are not known.
(5) CuSEQ analysis was not performed on samples from S-200 and S-201.

Quality assurance/quality control

Drilling completed on the project in 2020 was supervised by on-site Arizona Sonoran Copper Company 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 quality control system complies with global certifications for quality International Organization for Standardization 9001:2008.

Technical aspects of this news release have been reviewed and verified by Allan Schappert, CPG, 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 Copper Company'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-per-cent interest in the Cactus project (former Asarco, Sacaton mine), which is situated on private land in an infrastructure-rich area of Arizona. 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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