Arizona Sonoran Drills 547 ft (167 m) of 1.14% CuT at Parks/Salyer

Rhea-AI Summary

Arizona Sonoran Copper Company (TSX: ASCU | OTCQX: ASCUF) continues its promising drilling at the Parks/Salyer Project, showcasing grades and thicknesses favorable for an underground operation. Recent assays from nine infill drill holes indicate significant mineralization, with 45 of the planned 46 infill holes completed. Key highlights include notable grades such as 546.5 ft at 1.14% CuT and 2.31% CuT over 89.9 ft. The pre-feasibility study is expected by Q1 2024, with plans for further drilling to upgrade resources to measured categories. This strategic advancement comes just two years after initial drill results, marking significant progress in resource declaration.

Positive

• Infill drilling shows high-grade copper mineralization, indicating strong potential for underground operations.
• Completion of 45 out of 46 planned infill drill holes supports rapid resource evaluation.
• Strong assay results include 546.5 ft at 1.14% CuT and 89.9 ft at 2.31% CuT, demonstrating high-grade intervals.

Negative

• None.

CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) infill drilling at the Parks/Salyer (“P/S”) Project continues to demonstrate grades and thicknesses supportive of an underground operation within the planned Prefeasibility Study, expected by Q1 2024. The Company is announcing an additional 9 drill hole assays from the Parks/Salyer infill to indicated program, spaced at 250 ft (76 m). A total of 45 infill drill holes are now complete, from within the 46-hole, 105,000 ft (32,000 m) planned program. Parks/Salyer (“P/S”) is located on private land, contiguous to the Cactus Mine Project, in Pinal County, Arizona (see FIGURES 1-10).

Highlights:

• ECP-122: 546.5 ft (166.6 m) @ 1.14% CuT, 1.00% Cu TSol, 0.007% Mo (enriched)
  • Incl 176.5 ft (53.8 m) @ 2.03% CuT, 1.88% Cu TSol, 0.005% Mo
• ECP-125: 545.2 ft (166.2 m) @ 1.09% CuT, 0.99% Cu TSol, 0.020% Mo (enriched)
  • Incl. 217.0 ft (66.1 m) @ 1.75% CuT, 1.66% Cu TSol, 0.009% Mo
  • 635.5 ft (193.7 m) @ 0.46% CuT, 0.018% Mo (primary)
• ECP-114: 463.5 ft (141.3 m) @ 1.14% CuT, 0.98% Cu TSol, 0.028% Mo (enriched)
• ECP-116: 570.0 ft (173.7 m) @ 0.86% CuT, 0.64% Cu TSol, 0.015% Mo (enriched)
• ECP-124: 361.8 ft (110.3 m) @ 1.14% CuT, 1.06% Cu TSol, 0.007% Mo (enriched)
  • Incl. 179.8 ft (54.8 m) @ 1.87% CuT, 1.79% Cu TSol, 0.010% Mo
• ECP-119: 89.9 ft (27.4 m) @ 2.31% CuT, 2.21% Cu TSol, 0.011% Mo (enriched)
  • 66.2 ft (20.2 m) @ 2.07% CuT, 2.02% Cu TSol, 0.012% Mo (oxide)
  • Incl. 14.1 ft (4.3 m) @ 4.07% CuT, 4.05% Cu TSol, 0.017% Mo

NOTE: True widths are not known

George Ogilvie, Arizona Sonoran President and CEO commented, “In early 2022, we announced our first drill holes dedicated to defining the Parks/Salyer Project. We have advanced this greenfield parcel within the brownfield Cactus Property from discovery, through resource declaration of 2.9B lbs (@1.015% CuT), to PFS-level within only two years. The infill to indicated program will be complete this week and by end of May, we expect to have all assays in hand for use in declaring initial reserves in the PFS by 1Q24.

He continued, “Once the infill to indicated drilling is complete the drills will continue drilling at Parks/Salyer as we move to infill to measured drilling, a requirement for our BFS in 2024.”

Infill Drilling Program Recap

High grade intervals from drill holes ECP-114, ECP-116 and ECP-125 each illustrate significant grade thicknesses, consistent with the high-grade core initially identified by the original step out program and further delineated by the infill drilling program. In particular, ECP-125 extends the high-grade core southward towards the newly acquired MainSpring Property. Drill holes ECP-121, ECP-123, ECP-119, ECP-116, ECP-120 and ECP-122 were drilled to define the northern and eastern extents of the deposit itself, where thinner intercepts of similar grade reflect the structural thinning of the core by post mineral faulting, including the Basement Fault. Assays pending from the remainder of the program have focused mostly within the western side of the deposit, defining the area around ECP-065 with 439.7 ft @ 0.97% Cu TSol and 0.033% Mo (press release dated April 5, 2022).

The 105,000 ft (32,000 m) infill drilling program is aimed at upgrading the mineral resource to the indicated category in support of the potential declaration of maiden reserves in the upcoming Pre-Feasibility. To date, 63,795 ft (19,445 m) or 29 holes have been reported via press release, defining a core within the high-grade enrichment blanket within the eastern half of the deposit, extending westward along the southern portion of the deposit.

Chalcocite and covellite are the dominant copper species in the enrichment blanket, replacing primary pyrite and chalcopyrite in their original depositional habits, such as veins, breccia fillings, voids and disseminations. These replacements styles, shown in FIGURES 1-10, are representative of our enriched mineral zone. Chalcocite also tends to build on itself, resulting in zones of higher-grade mineralization where the enrichment fluids had time and opportunity to continue the secondary enrichment process.

TABLE 1: Parks/Salyer Drilling Highlights

Hole Id	Zone	Feet			Metres			CuT %	TSol %	Mo %
		From	To	Length	From	To	Length
ECP-114	enriched	1,288.0	1,321.2	33.2	392.6	402.7	10.1	3.08	2.84	0.021
	enriched	1,392.0	1,437.3	45.3	424.3	438.1	13.8	3.43	2.90	0.026
	enriched	1,534.0	1,997.5	463.5	467.6	608.8	141.3	1.14	0.98	0.028
	including	1,534.0	1,554.0	20.0	467.6	473.7	6.1	1.76	1.64	0.013
	and	1,680.0	1,743.0	63.0	512.1	531.3	19.2	1.70	1.62	0.022
	and	1,913.0	1,997.5	84.5	583.1	608.8	25.8	1.46	1.34	0.041
	primary	1,997.5	2,233.3	235.8	608.8	680.7	71.9	0.28	0.02	0.021
ECP-116	oxide	1,454.0	1,481.6	27.6	443.2	451.6	8.4	0.74	0.71	0.010
	enriched	1,481.6	2,051.6	570.0	451.6	625.3	173.7	0.86	0.64	0.015
	including	1,492.0	1,578.0	86.0	454.8	481.0	26.2	1.24	1.17	0.015
	and	1,878.0	1,938.0	60.0	572.4	590.7	18.3	1.21	1.09	0.011
	and	1,972.0	2,051.6	79.6	601.1	625.3	24.3	1.24	1.10	0.015
	primary	1,965.0	2,220.6	255.6	598.9	676.8	77.9	0.23	0.02	0.009
ECP-119	oxide	1,488.1	1,524.1	36.0	453.6	464.5	11.0	1.28	1.27	0.012
	enriched	1,524.1	1,614.0	89.9	464.5	491.9	27.4	2.31	2.21	0.011
	oxide	1,650.0	1,716.2	66.2	502.9	523.1	20.2	2.07	2.02	0.012
	including	1,702.1	1,716.2	14.1	518.8	523.1	4.3	4.07	4.05	0.017
	enriched	1,849.2	1,879.0	29.8	563.6	572.7	9.1	0.50	0.43	0.013
	primary	1,879.0	2,358.1	479.1	572.7	718.7	146.0	0.24	0.03	0.004
ECP-120	enriched	1,562.0	1,610.8	48.8	476.1	491.0	14.9	0.66	0.66	0.003
	enriched	1,814.0	1,936.7	122.7	552.9	590.3	37.4	1.63	1.56	0.016
	including	1,894.0	1,934.0	40.0	577.3	589.5	12.2	1.94	1.82	0.028
ECP-121	oxide	1,288.0	1,425.4	137.4	392.6	434.5	41.9	1.03	1.01	0.009
	including	1,318.0	1,338.0	20.0	401.7	407.8	6.1	2.30	2.29	0.007
	oxide	1,467.0	1,499.0	32.0	447.1	456.9	9.8	0.64	0.57	0.003
	enriched	1,510.7	1,537.0	26.3	460.5	468.5	8.0	0.91	0.85	0.003
	primary	1,537.0	1,953.0	416.0	468.5	595.3	126.8	0.17	0.05	0.001
	including	1,537.0	1,628.0	91.0	468.5	496.2	27.7	0.32	0.08	0.001
ECP-122	enriched	1,264.5	1,811.0	546.5	385.4	552.0	166.6	1.14	1.00	0.007
	including	1,264.5	1,441.0	176.5	385.4	439.2	53.8	2.03	1.88	0.005
ECP-123	oxide	1,207.0	1,223.0	16.0	367.9	372.8	4.9	0.79	0.78	0.014
	oxide	1,259.9	1,314.3	54.4	384.0	400.6	16.6	1.25	1.22	0.014
	oxide	1,632.3	1,652.0	19.7	497.5	503.5	6.0	0.65	0.64	0.004
	enriched	1,652.0	1,798.0	146.0	503.5	548.0	44.5	0.84	0.82	0.009
	including	1,676.8	1,741.4	64.6	511.1	530.8	19.7	1.13	1.12	0.008
	primary	1,798.0	2,278.1	480.1	548.0	694.4	146.3	0.24	0.03	0.005
	including	1,875.0	1,925.5	50.5	571.5	586.9	15.4	0.45	0.04	0.004
	and	1,960.8	1,975.4	14.6	597.7	602.1	4.5	0.75	0.09	0.003
	and	2,087.0	2,107.0	20.0	636.1	642.2	6.1	0.53	0.04	0.006
ECP-124	oxide	1,152.0	1,182.0	30.0	351.1	360.3	9.1	1.40	1.36	0.011
	enriched	1,219.2	1,581.0	361.8	371.6	481.9	110.3	1.14	1.06	0.007
	including	1,219.2	1,399.0	179.8	371.6	426.4	54.8	1.87	1.79	0.010
	primary	1,581.0	2,411.0	830.0	481.9	734.9	253.0	0.13	0.02	0.004
	including	1,747.9	1,770.0	22.1	532.8	539.5	6.7	0.40	0.05	0.003
	and	1,891.0	1,912.3	21.3	576.4	582.9	6.5	0.50	0.04	0.013
ECP-125	oxide	559.0	697.3	138.3	170.4	212.5	42.2	0.76	0.73	0.007
	including	586.0	616.0	30.0	178.6	187.8	9.1	1.68	1.64	0.006
	enriched	814.8	1,360.0	545.2	248.4	414.5	166.2	1.09	0.99	0.020
	including	1,097.0	1,314.0	217.0	334.4	400.5	66.1	1.75	1.66	0.009
	primary	1,360.0	1,995.5	635.5	414.5	608.2	193.7	0.46	0.04	0.018
	including	1,383.0	1,543.0	160.0	421.5	470.3	48.8	0.71	0.06	0.034
	and	1,573.0	1,603.0	30.0	479.5	488.6	9.1	0.65	0.04	0.016

1. Intervals are presented in core length and are drilled with very near vertical dip angles.
2. Drill assays assume a mineralized cut-off grade of 0.5% CuT reflecting the potential for heap leaching of underground material in the case of Oxide and Enriched or in the case of Primary material, 0.1% CuT, to provide typical average grades. Holes were terminated below 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.

Table 2: Drilling details

Hole	Easting (m)	Northing (m)	Elevation (ft)	TD (ft)	Azimuth	Dip
ECP-114	421986.7	3645197.6	1384.6	2252.4	0.0	-90.0
ECP-116	422068.4	3645179.0	1386.2	2213.7	0.0	-90.0
ECP-119	421965.5	3645345.6	1387.2	2406.0	0.0	-90.0
ECP-120	422144.8	3645025.3	1381.3	1949.2	0.0	-90.0
ECP-121	421571.6	3645335.8	1383.3	2477.0	0.0	-90.0
ECP-122	422144.9	3644938.2	1379.0	1857.6	0.0	-90.0
ECP-123	421887.3	3645337.1	1385.3	2377.0	0.0	-90.0
ECP-124	421537.7	3645273.4	1379.7	2434.2	0.0	-90.0
ECP-125	421747.5	3644794.8	1367.0	2039.4	0.0	-90.0

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 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 1-10: https://arizonasonoran.com/projects/exploration/maps-and-figures/

Press release April 5, 2022: https://arizonasonoran.com/news-releases/arizona-sonoran-park-salyer-drilling-intercepts-302.0-ft-1.23-cut-0.021-mo-including-10.0-ft-7.95-cut-0.112-mo/

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 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% 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%-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 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/20230327005269/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 are the latest drilling results from Arizona Sonoran Copper Company (ASCUF)?

The latest drilling results include significant assays from the Parks/Salyer Project, highlighting high-grade intervals such as 546.5 ft at 1.14% CuT.

When will the pre-feasibility study for ASCUF be released?

The pre-feasibility study for Arizona Sonoran Copper Company is expected to be released by Q1 2024.

How many drill holes have been completed at the Parks/Salyer Project for ASCUF?

A total of 45 infill drill holes have been completed out of a planned 46 at the Parks/Salyer Project.

What is the significance of the recent assay results for ASCUF?

The recent assay results indicate strong potential for the underground operation and support the company's resource evaluation strategy.