Arizona Sonoran Doubles Global Leachable Resource Inventory and Declares Maiden Mineral Resources at Parks/Salyer of 2.92 Billion Pounds at 1.015% Cu
Arizona Sonoran Copper Company has announced a maiden Inferred Mineral Resource Estimate for the Parks/Salyer porphyry copper deposit, revealing 143.6 million tons at 1.015% Cu, corresponding to 1.46 million tons of contained copper. The leachable resources amount to 2.46 billion pounds of 1.066% total soluble copper, while primary sulphide resources comprise 0.45 billion pounds at 0.804% total copper. Future studies are planned to integrate Cactus and Parks/Salyer, enhancing future resource assessments.
- Maiden Inferred Mineral Resource Estimate of 143.6 million tons at 1.015% Cu represents a significant addition to the company's resource base.
- Leachable resources of 2.46 billion pounds of 1.066% total soluble copper provide a favorable outlook for potential heap leaching operations.
- The proximity of Parks/Salyer to the Cactus Project allows for potential cost savings through shared infrastructure.
- None.
-
Company declares maiden Inferred mineral resources of 143.6 million tons at
1.015% Cu atParks /Salyer for 1.46 million tons of contained copper -
Inferred mineral resources of:
-
Leachable: 2.46 Billion pounds of
1.066% total soluble copper -
Primary Sulphide: 0.45 Billion pounds at
0.804% total copper
-
Leachable: 2.46 Billion pounds of
-
Inferred Resources at
Parks /Salyer are comprised of oxide, enriched and primary mineral zones; the oxides and enriched material is considered amenable to heap leach processing methods - A revised Technical Study to include Cactus and P/S is expected in the next 12-18 months
Notes to Grade/Tonnage Curve - 1. Tons and grades reported in the grade tonnage curve chart should not be misconstrued as Mineral Resources of confused with the Mineral Resource Statement above for
The ASCU global mineral resources are as noted below; Oxide, Enriched and Stockpile material are all considered amenable to a heap leaching operation:
Table 1:
Inferred Resource |
Tons (kt) |
CuT (%) |
Cu TSol (%) |
Contained Cu (k lbs) |
Contained Cu (k Tons) |
Oxide |
14,100 |
|
0.827 |
233,700 |
117 |
Enriched |
101,200 |
|
1.100 |
2,227,200 |
1,113 |
Leachable |
115,400 |
- |
1.066 |
2,460,900 |
1,230 |
Primary |
28,300 |
0.804 |
- |
454,400 |
228 |
Total Inferred |
143,600 |
1.015 |
|
2,915,400 |
1,458 |
Comprehensive notes for Table 1, with Table 2 below. |
Table 2: Global Cactus and
Material Type |
Tons
|
CuT
|
TSol % |
Contained Cu (k lbs) |
Contained Cu (k Tons) |
INDICATED |
|||||
Cactus |
|||||
Oxide |
31,400 |
|
0.559 |
349,700 |
176 |
Enriched |
42,500 |
|
0.844 |
715,500 |
359 |
Total Leachable |
73,900 |
|
0.723 |
1,065,200 |
534 |
Primary |
77,900 |
0.35 |
|
545,500 |
273 |
Total Indicated |
151,800 |
0.531 |
1,610,700 |
806 |
|
INFERRED |
|||||
Cactus |
|||||
Oxide |
62,500 |
|
0.346 |
430,500 |
216 |
Enriched |
55,100 |
|
0.498 |
548,800 |
274 |
Total Leachable |
117,600 |
|
0.417 |
979,300 |
490 |
Primary |
111,300 |
0.349 |
|
776,000 |
388 |
Total Inferred |
228,900 |
0.384 |
1,755,300 |
879 |
|
Stockpile |
|||||
Oxide |
77,400 |
|
0.144 |
223,500 |
111 |
|
|||||
Oxide |
14,100 |
|
0.827 |
233,700 |
117 |
Enriched |
101,200 |
|
1.1 |
2,227,200 |
1,113 |
Total Leachable |
115,400 |
|
1.066 |
2,460,900 |
1,230 |
Primary |
28,300 |
0.804 |
|
454,400 |
228 |
Total Inferred |
143,600 |
1.015 |
2,915,400 |
1,458 |
|
|
|
|
|
|
|
Total Resources |
|||||
INDICATED |
|||||
Total Leachable |
73,900 |
|
0.723 |
1,065,200 |
534 |
Total Indicated |
151,800 |
0.531 |
1,610,700 |
806 |
|
INFERRED |
|||||
Total Leachable |
310,400 |
|
0.59 |
3,663,700 |
1,832 |
Total Inferred |
449,900 |
0.544 |
4,894,200 |
2,447 |
Notes for Tables 1 and 2: |
1. CuT means total copper and Tsol means total soluble copper as the addition of sequential acid soluble and sequential cyanide soluble copper assays. Tons are reported as short tons. |
2. Cactus and Stockpile Resource estimates have an effective date of 31st August, 2021 and use a copper price of |
3. Technical and economic parameters defining resource pit shell: mining cost |
4. Technical and economic parameters defining underground resource: mining cost |
5. Technical and economic parameters defining processing: Heap leach (HL) processing cost including selling |
6. For Cactus: Variable cutoff grades were reported depending on material type, potential mining method, and potential processing method. Oxide material within resource pit shell = |
7. For |
8. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, sociopolitical, marketing, or other relevant factors. |
9. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and there is insufficient exploration to define these inferred mineral resources as an indicated or measured mineral resource; it is uncertain if further exploration will result in upgrading them to an indicated or measured classification. |
10. Total may not add up due to rounding. |
Due to the significant increase in the Company-wide Mineral Resources, the oxide and enriched material at
The MRE was prepared by Stantec in accordance with the
Focused Drill Program Results in Large Maiden Resource Estimate
In 2020, ASCU drilled two exploration holes to the north of two historic
The maiden inferred MRE for the
Park/Salyer: High grade deposit with significant leverage to Copper Price
The sensitivity and upside exposure to a larger tonnage at higher copper prices is demonstrated in the table below. The reader is cautioned that figures in the following chart should not be misconstrued as Mineral Resources or confused with the Mineral Resource Statement reported above. These figures are only presented to show the sensitivity vis a vis copper prices based on the methodology and assumptions stated:
Table 3:
Price |
Total Leachable |
Total Material |
||||
Cu TSol (%) |
Tonnage (M short ton) |
Metal (Cu Blbs) |
Cu (%) |
Tonnage (M short ton) |
Metal (Cu Blbs) |
|
|
1.13 |
100.5 |
2.30 |
1.08 |
123.5 |
2.65 |
|
1.10 |
108.0 |
2.40 |
1.05 |
134.0 |
2.80 |
|
1.07 |
115.5 |
2.45 |
1.01 |
143.5 |
2.90 |
|
1.04 |
122.5 |
2.55 |
0.99 |
153.5 |
3.05 |
|
1.01 |
128.5 |
2.60 |
0.96 |
163.0 |
3.15 |
|
0.99 |
135.0 |
2.65 |
0.93 |
172.5 |
3.25 |
|
0.97 |
141.5 |
2.75 |
0.91 |
182.5 |
3.30 |
Notes: |
1. Price sensitivity tons and grades were calculated using a consistent methodology to the reporting of the |
2. Cu grade reported for Total Material represents a blend of Cu TSol for oxide and enriched material, and CuT for primary material. |
Potential shared infrastructure between
Like Cactus, the
The two deposits are located within the same 4,846 acre private land parcel. Water, power, roads, the metallurgical testing building and core shacks are all easily accessible within the confines of the total project area. Future processing plants, ponds, auxiliary buildings and mine access would be considered in a location accessible by both deposits should a positive production decision be made in the future.
Next Steps
Resource Declaration in Technical Report
Due to the proximity of P/S to the Cactus Mine, and associated future shared infrastructure, the P/S MRE will be stated as an inferred mineral resource in a new technical report in conjunction with the Cactus MRE effective
Continued Exploration Success and 2022 Plans for Further Drilling
ASCU has 3 drills currently running a 105,000 ft (32,000 m) program at the P/S deposit to reduce the spacing between holes to 250 ft (76 m). This infill drilling program is planned to improve the resource category to an indicated status, with a goal to defining future probable reserves. Results will support mine planning in connection with an integrated technical study. The drill program is expected to be complete by year-end, with assays returned by Q1 2023.
Drilling is expected to resume at Cactus later this year to continue to infill drill to 125 ft (38 m) spacing at both Cactus East and West. Drill spacing is being infilled with the goal to produce measured resources in the upcoming integrated technical report.
Metallurgical Studies
Cactus Column Leaching: Over a dozen leaching columns ranging in height between 20 and 30 ft are currently underway to complete a feasibility-level metallurgical program on Cactus material. Testing is taking place in the onsite
Table 4: Average Cactus Metallurgical Performance, updated
Resource Component |
Recovery (% CuAS) |
Recovery (% CuCN) |
Gross Acid Consumption (lb/ton) |
Net Acid Consumption (lb/ton) |
STOCKPILE |
||||
Oxide |
|
|
22 |
16 |
OPEN PIT AND UNDERGROUND |
||||
Oxide |
|
|
22 |
16 |
Enriched |
|
|
22 |
0 |
A
Sulphide leaching optionality: Oxide, enriched and primary material samples from both Cactus and
Private Land Operation Permitting Underway
ASCU holds approximately 4,846 acres of private land to support an operation entirely on private land. The company has received its water permits, including the right to draw water, the aquifer protection permit and air quality permit, all key state-level permits required for a private land operations, along with other minor permits. Additionally, the company has received confirmation from the
The Company is advancing its production and construction permitting process. The Mined Land Reclamation Permit, for closure and monitoring, and Industrial Air Permitting Applications, for air quality during production, are being prepared and are expected to be submitted to the State and County Permitting offices by year-end.
A total of 725.5 M pounds of inferred mineral resources at
Sensitivity Analysis
The results of grade sensitivity analysis are presented below to illustrate the continuity of the grade estimates at various cut-off increments and the sensitivity of the mineralization to changes in cut-off grade. The reader is cautioned that figures in the following chart should not be misconstrued as Mineral Resources or confused with the Mineral Resource Statement reported above. These figures are only presented to show the sensitivity of the block model estimated grades and tonnages to the selection of cut-off grade. Cut-off at
Resource Estimation Methodology
A total of 31 holes, drilled at 500 ft (250 m) drill spacing, by ASCU including four by previous owners were used to inform the
Quality Assurance / Quality Control
Drilling completed on the project between 2020 and 2022 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
Technical aspects of this news release have been reviewed and approved by Dr.
Technical aspects of this news release have been reviewed and verified by
Links from the Press Release
FIGURES 1-4: https://arizonasonoran.com/projects/exploration/maps-and-figures/
Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.
About
ASCU’s objective is to become a mid-tier copper producer with low operating costs, develop the
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.
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FAQ
What is the significance of Arizona Sonoran Copper Company's maiden Inferred Mineral Resource Estimate?
How much copper is contained in the Parks/Salyer deposit?
What are the leachable copper resources at Parks/Salyer?
When is the revised Technical Study for the Cactus and Parks/Salyer projects expected?