Arizona Sonoran Announces Additional High-Grade Copper from Cactus and Completes PFS Drilling Program

Rhea-AI Summary

Arizona Sonoran Copper Company (ASCUF) announced the completion of its Cactus Prefeasibility Study (PFS) infill drilling program, comprising 25 drill holes over 30,926 ft (9,426 m). This program aims to upgrade Inferred mineral resources to Indicated resources within the PEA mine plan. Results showed improved lithological and mineral zonation controls, with notable drilling highlights including intervals of enriched and oxide mineralization. A feasibility-level drilling program is now underway, with expectations of converting considerable leachable copper to probable reserves, leading towards a Bankable Feasibility Study.

Positive

• Successful completion of 25 drill holes in the Cactus PFS with a total length of 30,926 ft (9,426 m).
• Drilling results showed improved definition of host lithologies, indicating low acid consumption characteristics for heap leaching.
• Positive results support conversion of Inferred mineral resources to Indicated categories.
• Ongoing drilling program expected to enhance resource estimates and lead to a Bankable Feasibility Study.

Negative

• None.

CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, announces results from 25 drill holes (30,926 ft | 9,426 m), from its now complete Cactus Prefeasibility Study (“PFS”) infill drilling program (see FIGURES & PHOTOS 1 – 8 and TABLE 1 below). The PFS drilling program tightened the drill spacing within the entire integrated Preliminary Economic Assessment (“PEA”) mine plan, including Cactus East and West and the Stockpile, with the intent of upgrading the Inferred mineral resources to Indicated mineral resources. As a result of tighter drill spacing, data shows an improved resolution of lithological, structural, and mineral zonation controls. Additionally, drilling to support further metallurgical and geotechnical test work was undertaken.

The PFS is expected to be complete by late summer 2022 and will include an updated mineral resource estimate.

Drilling Highlights (please see TABLE 1 below for full set of drilling results)

1. Drilling improved definition of various host lithologies that potentially affect acid consumption in the heap leaching process. The majority of mineralization is hosted in granite and monzonite porphyry which to date has indicated low acid consumption characteristics
2. ECE-053 200.9 ft. of 1.28% TCu, 0.91% TSol (Enriched – underground)
3. ECE-051 90 ft of 1.56% TCu, 1.45% TSol (Enriched – underground); incl. 40 ft of 2.53% TCu, 2.38% TSol
4. ECW-032 465.7 ft of 0.27% TCu, 0.24% TSol (Oxides – open pit); incl. 104.0 ft of 0.40% TSol
5. ECW-056 462.9 ft of 0.31%TCu, 0.25% TSol (Oxides – open pit)
6. ECW-036 617.0 ft of 0.21% TCu, 0.19% TSol (Oxides – open pit); and 351.0 ft @ 0.37% CuT (Primary)
7. Infill drilling performed within expectations with no significant changes to the global interpretations supporting the previously reported resource model

George Ogilvie, Arizona Sonoran President and CEO stated, “These positive drilling results support the conversion of mineral resources to the indicated category ahead of our PFS in Q3 as it pertains to the low-grade, bulk tonnage open pit operation at Cactus West and higher-grade underground Cactus East. We expect the drilling will convert a substantial amount of the leachable copper to a maiden probable reserve, which will be used to update the mine plan and associated economics. Each completed critical path item moves us closer to undertaking a Bankable Feasibility Study with Project Financing and ultimately a construction and development decision.”

The PFS-level drilling reduced drill spacing to 250 ft within the PEA mine plan and 200 ft within the Stockpile. Drills focused in the north, south and northwest region of the open pit as well as the Cactus East underground. The total program consisted of 79,175 ft (24,133 m) of drilling, with indications that mineralization remains open to the north, and southwest of the pit, with opportunities to further convert mineralization from the underground. A Feasibility level-drilling program consisting of 72,000 ft (21,946 m) is currently underway, including:

• 60,000 ft (18,288 m) of infill drilling to 125 ft centers within the mine plan area, and
• 12,000 ft (3,650 m) of planned expansion drilling.

Geological Description

Drilling results in this press release cover the northern and southern infill programs to the Cactus West Deposit and the southern margin of the Cactus East Deposit. Drilling on the southern side of Cactus West intercepted shallow enriched mineralized zones with little to no oxide presence, as interpreted from previous drilling. Mineralization was intercepted from as shallow as 25 ft on the southern side of Cactus West, in proximity to the discovery outcrop, but typically was intercepted from 100 ft depth with low tenor enrichment. Drilling was terminated in primary mineralization characterized as part of the pyrite alteration zone of the porphyry system.

Drilling on the north side of Cactus West intercepted thick low grade continuous oxide mineralization resulting from deeper weathering penetration within a 650 ft (198 m) wide east-west trending fault zone. Enriched mineralization was intercepted at depth prior to the holes being terminated in well mineralized primary mineralization characterized as part of the chalcopyrite-pyrite alteration zone.

Drilling on the south side of Cactus East defines generally the southern extents of mineralization due to the geometry of the Cactus East horst block being truncated by the south and basement faults on the south side. Thick high grade enriched mineralization was intercepted in holes ECE-051 and ECE-053 with little to no oxide and/or primary mineralization. Holes were terminated in the basement fault closing off mineralization at depth.

TABLE 1: Drilling Highlights

Hole	Zone	Feet			Metres			CuT	TSol	Pit Area
		From	To	Length	From	To	Length	%	%
CACTUS EAST
ECE- 051	oxide	1,585.0	1,624.0	39.0	483.1	495.0	11.9	0.33	0.32	N/A
	enriched	1,646.7	1,656.0	9.3	501.9	504.7	2.8	2.86	2.85
	enriched	1,697.0	1,787.0	90.0	517.2	544.7	27.4	1.56	1.45
	incl	1,697.0	1,737.0	40.0	517.2	529.4	12.2	2.53	2.38
	primary	1,787.0	1,894.0	107.0	544.7	577.3	32.6	0.62	0.05
ECE- 052	enriched	1,626.0	1,653.3	27.3	495.6	503.9	8.3	0.36	0.35
	enriched	1,673.0	1,702.4	29.4	509.9	518.9	9.0	0.56	0.56
	enriched	1,754.0	1,780.3	26.3	534.6	542.6	8.0	1.10	1.00
ECE- 053	enriched	1,659.2	1,681.8	22.6	505.7	512.6	6.9	0.76	0.75
	enriched	1,740.5	1,755.2	14.7	530.5	535.0	4.5	0.74	0.72
	enriched	1,812.5	2,013.4	200.9	552.5	613.7	61.2	1.28	0.91
CACTUS WEST
ECW- 030	enriched	151.5	354.2	202.7	46.2	108.0	61.8	0.28	0.27	South
	incl	151.5	213.0	61.5	46.2	64.9	18.7	0.60	0.59
ECW- 031	oxide	1,319.0	1,349.0	30.0	402.0	411.2	9.1	0.28	0.25	NE
	enriched	1,482.3	1,487.5	5.2	451.8	453.4	1.6	1.61	1.60
	enriched	1,570.5	1,689.0	118.5	478.7	514.8	36.1	0.55	0.48
	incl	1,588.0	1,600.8	12.8	484.0	487.9	3.9	0.93	0.83
	and	1,629.0	1,639.0	10.0	496.5	499.6	3.0	1.68	1.68
	primary	1,689.0	1,828.6	139.6	514.8	557.4	42.6	0.30	0.06
ECW- 032	oxide	289.0	349.0	60.0	88.1	106.4	18.3	0.20	0.14	North
	oxide	410.3	876.0	465.7	125.1	267.0	141.9	0.27	0.24
	incl	420.0	524.0	104.0	128.0	159.7	31.7	0.43	0.40
	and	634.0	686.0	52.0	193.2	209.1	15.8	0.58	0.47
	oxide	1,026.0	1,052.0	26.0	312.7	320.6	7.9	0.16	0.16
	enriched	1,052.0	1,078.0	26.0	320.6	328.6	7.9	0.34	0.27
	primary	1,078.0	1,367.7	289.7	328.6	416.9	88.3	0.34	0.07
ECW- 033	oxide	294.0	461.0	167.0	89.6	140.5	50.9	0.34	0.26	North
	incl	395.0	455.0	60.0	120.4	138.7	18.3	0.53	0.41
	oxide	523.7	652.0	128.3	159.6	198.7	39.1	0.28	0.25
	oxide	739.9	1,101.0	361.1	225.5	335.6	110.1	0.22	0.19
	incl	747.5	761.0	13.5	227.8	232.0	4.1	0.59	0.47
	and	1,029.0	1,075.0	46.0	313.6	327.7	14.0	0.44	0.38
	oxide	1,151.0	1,241.0	90.0	350.8	378.3	27.4	0.14	0.13
	oxide	1,281.0	1,327.0	46.0	390.4	404.5	14.0	0.52	0.44
	primary	1,327.0	1,418.0	91.0	404.5	432.2	27.7	0.35	0.04
ECW- 034	oxide	376.2	406.0	29.8	114.7	123.7	9.1	0.41	0.34	North
	oxide	702.3	716.5	14.2	214.1	218.4	4.3	0.57	0.55
	enriched	801.4	815.0	13.6	244.3	248.4	4.1	0.87	0.83
	oxide	861.0	889.8	28.8	262.4	271.2	8.8	0.85	0.80
	incl	877.3	884.0	6.7	267.4	269.4	2.0	2.71	2.70
	enriched	1,066.3	1,160.0	93.7	325.0	353.6	28.6	0.42	0.31
	incl	1,123.0	1,160.0	37.0	342.3	353.6	11.3	0.66	0.57
	oxide	1,160.0	1,264.0	104.0	353.6	385.3	31.7	0.49	0.45
	incl	1,160.0	1,173.0	13.0	353.6	357.5	4.0	2.84	2.64
	enriched	1,297.7	1,347.0	49.3	395.5	410.6	15.0	0.69	0.63
	incl	1,297.7	1,317.0	19.3	395.5	401.4	5.9	1.24	1.14
ECW- 035	oxide	343.0	413.0	70.0	104.5	125.9	21.3	0.24	0.15	NW
	oxide	576.4	671.0	94.6	175.7	204.5	28.8	0.20	0.18
	enriched	704.0	719.0	15.0	214.6	219.2	4.6	0.80	0.77
	oxide	867.0	887.0	20.0	264.3	270.4	6.1	0.17	0.16
	oxide	998.5	1,008.0	9.5	304.3	307.2	2.9	0.23	0.21
ECW- 036	oxide	396.0	1,013.0	617.0	120.7	308.8	188.1	0.21	0.19	NW
	incl	739.0	800.7	61.7	225.2	244.1	18.8	0.32	0.30
	and	906.0	936.0	30.0	276.1	285.3	9.1	0.49	0.47
	enriched	1,013.0	1,092.0	79.0	308.8	332.8	24.1	0.37	0.23
	primary	1,092.0	1,443.0	351.0	332.8	439.8	107.0	0.37	0.04
	incl	1,108.0	1,251.0	143.0	337.7	381.3	43.6	0.49	0.05
ECW- 037	oxide	477.0	515.0	38.0	145.4	157.0	11.6	0.21	0.14	NW
	oxide	652.0	732.0	80.0	198.7	223.1	24.4	0.15	0.13
	oxide	796.3	848.0	51.7	242.7	258.5	15.8	0.25	0.23
	oxide	868.0	888.0	20.0	264.6	270.7	6.1	0.19	0.15
	oxide	918.0	938.3	20.3	279.8	286.0	6.2	1.32	1.10
	incl	926.0	938.3	12.3	282.2	286.0	3.7	2.07	1.71
ECW- 038	oxide	547.0	1,003.0	456.0	166.7	305.7	139.0	0.19	0.15	NW
	incl	987.0	1,003.0	16.0	300.8	305.7	4.9	0.13	0.12
	oxide	1,043.0	1,113.0	70.0	317.9	339.2	21.3	0.15	0.13
	enriched	1,113.0	1,132.0	19.0	339.2	345.0	5.8	0.22	0.13
	primary	1,132.0	1,449.7	317.7	345.0	441.9	96.8	0.18	0.02
ECW- 039	oxide	105.0	115.0	10.0	32.0	35.1	3.0	0.67	0.57	South
	enriched	275.0	360.0	85.0	83.8	109.7	25.9	0.26	0.19
	incl	275.0	285.0	10.0	83.8	86.9	3.0	0.54	0.53
	primary	360.0	450.6	90.6	109.7	137.3	27.6	0.15	0.04
ECW- 040	oxide	693.0	773.3	80.3	211.2	235.7	24.5	0.32	0.29	NW
	oxide	1,097.0	1,115.5	18.5	334.4	340.0	5.6	0.51	0.48
	enriched	1,175.0	1,229.0	54.0	358.1	374.6	16.5	0.55	0.48
	primary	1,229.0	1,287.0	58.0	374.6	392.3	17.7	0.22	0.03
ECW- 041	oxide	1,266.7	1,345.0	78.3	386.1	410.0	23.9	0.76	0.68	NE
	incl	1,277.0	1,330.0	53.0	389.2	405.4	16.2	1.01	0.91
	enriched	1,484.0	1,563.0	79.0	452.3	476.4	24.1	0.92	0.87
	incl	1,484.0	1,532.8	48.8	452.3	467.2	14.9	1.35	1.31
	primary	1,563.0	1,948.0	385.0	476.4	593.8	117.3	0.37	0.03
	incl	1,797.0	1,937.0	140.0	547.7	590.4	42.7	0.49	0.04
ECW- 046	enriched	207.0	227.0	20.0	63.1	69.2	6.1	0.15	0.14	South
	enriched	249.1	289.3	40.2	75.9	88.2	12.3	0.38	0.38
	enriched	359.0	427.8	68.8	109.4	130.4	21.0	0.45	0.43
	incl	373.0	383.0	10.0	113.7	116.7	3.0	0.81	0.80
	primary	467.0	607.0	140.0	142.3	185.0	42.7	0.23	0.03
ECW- 047	oxide	25.0	105.0	80.0	7.6	32.0	24.4	0.17	0.06	South
	oxide	155.0	250.0	95.0	47.2	76.2	29.0	0.18	0.10
	enriched	310.0	480.0	170.0	94.5	146.3	51.8	0.21	0.17
	primary	480.0	537.0	57.0	146.3	163.7	17.4	0.10	0.03
ECW- 048	enriched	150.0	255.0	105.0	45.7	77.7	32.0	0.30	0.29	South
	incl	160.0	200.0	40.0	48.8	61.0	12.2	0.44	0.44
	enriched	290.0	400.0	110.0	88.4	121.9	33.5	0.19	0.16
	primary	400.0	500.0	100.0	121.9	152.4	30.5	0.15	0.02
ECW- 049	enriched	295.0	350.0	55.0	89.9	106.7	55.0	0.26	0.20	South
	primary	350.0	400.0	50.0	106.7	121.9	50.0	0.22	0.03
ECW- 050	oxide	80.0	155.0	75.0	24.4	47.2	75.0	0.18	0.12	South
	enriched	200.0	260.0	60.0	61.0	79.2	60.0	0.28	0.19
	incl	240.0	260.0	20.0	73.2	79.2	20.0	0.55	0.44
	primary	260.0	400.0	140.0	79.2	121.9	140.0	0.15	0.01
ECW- 054	oxide	523.1	563.0	39.9	159.4	171.6	12.2	0.20	0.17	NW
	oxide	591.6	615.0	23.4	180.3	187.5	7.1	0.68	0.62
	oxide	640.0	870.0	230.0	195.1	265.2	70.1	0.35	0.32
	incl	640.0	668.0	28.0	195.1	203.6	8.5	0.76	0.72
	oxide	942.0	962.0	20.0	287.1	293.2	6.1	0.15	0.11
	oxide	992.0	1,082.0	90.0	302.4	329.8	27.4	0.17	0.17
	enriched	1,082.0	1,145.0	63.0	329.8	349.0	19.2	0.40	0.31
	incl	1,115.5	1,145.0	29.5	340.0	349.0	9.0	0.59	0.41
	primary	1,145.0	1,350.0	205.0	349.0	411.5	62.5	0.36	0.04
ECW- 055	oxide	564.1	602.5	38.4	171.9	183.6	11.7	0.31	0.23	NW
	oxide	867.0	897.0	30.0	264.3	273.4	9.1	0.59	0.57
	oxide	947.0	1,027.0	80.0	288.6	313.0	24.4	0.15	0.13
	oxide	1,077.0	1,155.5	78.5	328.3	352.2	23.9	0.19	0.18
	enriched	1,176.7	1,227.0	50.3	358.7	374.0	15.3	1.01	0.96
	incl	1,176.7	1,186.0	9.3	358.7	361.5	2.8	3.79	3.60
	primary	1,227.0	1,600.0	373.0	374.0	487.7	113.7	0.32	0.03
ECW- 056	oxide	191.0	222.0	31.0	58.2	67.7	9.4	0.30	0.22	North
	oxide	331.1	794.0	462.9	100.9	242.0	141.1	0.31	0.25
	incl	413.0	463.5	50.5	125.9	141.3	15.4	0.47	0.40
	and	616.0	646.0	30.0	187.8	196.9	9.1	0.57	0.53
	and	733.6	754.0	20.4	223.6	229.8	6.2	0.86	0.80
	enriched	794.0	863.0	69.0	242.0	263.0	21.0	0.21	0.19
	oxide	1,029.0	1,049.0	20.0	313.6	319.7	6.1	0.11	0.09
	oxide	1,069.0	1,093.0	24.0	325.8	333.1	7.3	0.13	0.12
	enriched	1,139.4	1,217.0	77.6	347.3	370.9	23.7	0.24	0.23
	primary	1,217.0	1,490.4	273.4	370.9	454.3	83.3	0.39	0.04
	Incl	1,369.0	1,467.0	98.0	417.3	447.1	29.9	0.52	0.05

1. Intervals are presented in core length; are drilled with dip angles between 55 degrees and 90 degrees.
2. CE Drill assays assume a mineralized cut-off grade of 0.5% CuT reflecting the potential for heap leaching in the case of Oxide and Enriched material for an underground or to provide typical average grades in the case of Primary material. All CE holes were terminated in Primary mineralization or the basement fault.
3. CW Drill assays assume a mineralized cut-off grade of 0.1% CuT reflecting the potential for heap leaching in the case of Oxide and Enriched material for an open pit, or to provide typical average grades in the case of Primary material. All CW holes were terminated in Primary mineralization.
4. Assay results are not capped. Intercepts are aggregated within geological confines of major mineral zones.

Table 2: Drill Information

Hole	Easting	Northing	Elevation	Depth	Azimuth	Dip
ECW-030	390,384.9	62,311.2	1,444.2	458.0	190	-60
ECW-031	391,396.1	64,622.1	1,462.3	1,828.6	240	-45
ECW-032	389,089.1	65,053.9	1,457.7	1,367.7	140	-53
ECW-033	389,087.8	65,051.4	1,457.6	1,418.0	142	-46.5
ECW-034	389,545.9	65,362.2	1,464.3	1,347.0	140	-45
ECW-035	388,913.1	64,805.0	1,454.2	1,008.0	135	-45
ECW-036	388,818.6	64,892.0	1,454.3	1,443.0	135	-56
ECW-037	388,733.6	64,552.6	1,450.3	938.3	130	-45
ECW-038	388,563.6	64,361.4	1,447.5	1,449.7	110	-67
ECW-039	389,756.5	62,131.7	1,432.0	450.6	0	-90
ECW-040	388,509.0	64,206.9	1,446.1	1,287.0	114	-50
ECW-041	391,041.8	65,109.6	1,470.5	1,948.0	235	-46.5
ECW-046	389,627.5	62,023.7	1,434.1	607.0	0	-90
ECW-047	390,243.2	61,890.0	1,437.8	537.0	0	-90
ECW-048	390,213.6	62,148.0	1,434.9	500.0	0	-90
ECW-049	390,496.7	62,317.4	1,445.2	400.0	0	-90
ECW-050	391,126.6	61,970.4	1,448.5	400.0	0	-90
ECW-054	388,562.4	64,366.4	1,447.7	1,350.0	100	-55
ECW-055	388,572.8	64,183.8	1,444.3	1,600.0	100	-46
ECW-056	389,379.9	65,275.9	1,465.0	1,490.4	148	-54
ECW-040	388,509.0	64,206.9	1,446.1	1,287.0	114	-51
ECW-041	391,041.8	65,109.6	1,470.5	1,948.0	235	-47
ECE-051	392,614.8	65,015.0	1,510.0	1,956.0	0	-90
ECE-052	392,483.6	64,515.5	1,488.0	1,871.4	0	-90
ECE-053	391,991.5	64,400.0	1,487.4	2,035.2	0	-90

Quality Assurance / Quality Control

Drilling completed on the project was supervised by on-site ASCU 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 AZ for analysis. Skyline’s quality control system complies with global certifications for Quality ISO9001:2008.

Technical aspects of this news release have been reviewed and verified by Allan Schappert – CPG #11758, who is a qualified person as defined by National Instrument 43-101– Standards of Disclosure for Mineral Projects.

Links from the Press Release

FIGURES 1-5 and PHOTOS 6-8: https://arizonasonoran.com/projects/cactus-mine-project/press-release-images/

Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)

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. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

Forward-Looking Statements

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals.

Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and ASCU disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005312/en/

For more information:

Alison Dwoskin, Director, Investor Relations

647-233-4348

adwoskin@arizonasonoran.com

George Ogilvie, President, CEO and Director

416-723-0458

gogilvie@arizonasonoran.com

Source: Arizona Sonoran Copper Company Inc.

FAQ

What were the key highlights from Arizona Sonoran Copper's latest press release on ASCUF?

The press release highlighted the successful completion of its infill drilling program, comprising 25 drill holes totaling 30,926 ft, aimed at upgrading mineral resources in the Cactus mine project.

What is the significance of the drilling results reported by Arizona Sonoran Copper (ASCUF)?

The drilling results indicated improved lithological and structural definitions, supporting the conversion of Inferred to Indicated resources and suggesting low acid consumption characteristics, which are beneficial for heap leaching.

What are Arizona Sonoran Copper's (ASCUF) next steps following the recent drilling program?

Arizona Sonoran Copper plans to continue with a feasibility-level drilling program and is moving towards a Bankable Feasibility Study to finalize its mine plan and associated economics.

When is the Prefeasibility Study (PFS) expected to be completed for Arizona Sonoran Copper (ASCUF)?

The PFS is expected to be completed by late summer 2022.