Arizona Sonoran Parks/Salyer Exploration Drilling Intercepts 531 ft of 1.10% TCu

Rhea-AI Summary

Arizona Sonoran Copper Company (ASCUF) reports new drilling results from its Parks/Salyer (P/S) exploration project, revealing extended mineralization by 1,000 ft onto the Bronco Creek land. The 14-hole program found significant grades, including ECP-084 with 531.4 ft at 1.10% total copper (TCu). A maiden inferred resource estimate is expected in Q4 2022. Assays for four holes are pending. This drilling activity is part of a broader strategy to enhance the multi-billion-pound Cactus copper project.

Positive

• Extended mineralization by 1,000 ft onto Bronco Creek land.
• High-grade results, notably ECP-084: 531.4 ft @ 1.10% TCu.
• Anticipation of a maiden inferred resource estimate in Q4 2022.

Negative

• None.

CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today releases assays from 9 drill holes from the 14-hole expanded exploration program at Parks/Salyer (“P/S"), located ~1.3 mi (2 km) southwest of the Company’s Cactus Mine Project. Drilling extended mineralization east by up to 1,000 ft (300 m) onto the Bronco Creek ("BCE") land, a part of the P/S Project which was acquired earlier this year (see PR dated Feb 10, 2022). Assays are pending on 4 holes (see FIGURES 1-6). The Company is also extending its current ionic leach sampling survey northeast of P/S, as well as eastward onto the BCE land.

Highlights:

• Two active drill rigs, a third rig to begin drilling metallurgical holes late September
• Maiden mineral resource on P/S in Q4 2022
• ECP-084: 531.4 ft (162.0 m) @ 1.10% TCu, 0.98% Cu TSol, 0.012% Mo (enriched)
  • Incl. 247.0 ft (75.3 m) @ 1.45% TCu, 1.35% Cu TSol, 0.014% Mo
  • And 354.0 ft (107.9 m) @ 0.65% TCu, 0.018% Mo (primary)
• ECP-086: 224.0 ft (68.3 m) @ 2.24% TCu, 2.19% Cu TSol, 0.010% Mo (enriched)
  • Incl. 114.0 ft (34.7 m) @ 2.63% TCu, 2.60% Cu TSol, 0.011% Mo
• ECP-090: 474.0 ft (144.5 m) @ 0.82% TCu, 0.73% Cu TSol, 0.007% Mo (enriched)
  • And 482.0 ft (146.9 m) @ 0.42% TCu, 0.011% Mo (primary)
• ECP-092: 216.8 ft (66.1 m) @ 1.41% TCu, 1.35% Cu TSol, 0.005% Mo (enriched)
  • Incl. 97.0 ft (29.6 m) @ 2.29% TCu, 2.20% Cu TSol, 0.004% Mo

George Ogilvie, Arizona Sonoran President and CEO commented, “These results continue to demonstrate the potential of Parks/Salyer to underpin and augment the multi-billion-pound Cactus copper project located only 1.3 miles (2 km) to the northeast. These drill holes extend mineralization from the eastern Parks/Salyer border onto the new Bronco Creek land by upwards of 1,000 ft (300 m). With drill spacing now at 500 ft (150 m) centres, we have defined the general eastern horst block extent, with assays pending on the west side for 4 holes. The team has now moved on to a 250 ft (75 m) infill drilling program to increase the confidence of the mineralization to an indicated resource category. Our goal is to issue a maiden inferred mineral resource estimate on Park/Salyer within Q4 2022.”

Drilling Program Recap
Assay results are pending on 4 holes from the 14-hole expanded exploration drill program, whose goal is to extend mineralization to the west and east of the original Exploration Target. Mineralization is open locally to the north and west, with the eastern extents generally known. To focus resources, the Company is now well-underway with the infill to 250 ft (75 m) centre drilling program. Since starting the program on July 17, 2022, 5 holes are now completed for a total of 11,345 ft (3,458 m), with assays pending. A third rig is scheduled to start drilling a 3-hole metallurgical program at Parks/Salyer in late-September.

Assay results from the 26-hole exploration program are split between the following press releases, with ECP-081 being added to the initial 12 exploration program results.

13 holes: August 23, 2022, June 23, 2022, April 5, 2022, February 10, 2022
9 holes (4 assays pending): September 7, 2022.

Bronco Creek Land
In February, Cactus 110 LLC (a wholly owned subsidiary of ASCU) announced an assignment & assumption agreement and a royalty agreement in respect of acquiring 158 acres of State Land. The parcel transfer was acquired from Bronco Creek Exploration Inc., a wholly owned subsidiary of EMX Royalty Corporation (NYSE American: EMX; TSX-V: EMX). Permitting activities will be directed to the State and County levels in a similar process to owning Private Land.

TABLE 1: Drilling Highlights

HOLE	ZONE	Feet			Metres			TCu	Cu TSol	Mo
		from	to	length	from	to	length	%	%	%
ECP-083	oxide	1780.3	1798.2	17.9	542.6	548.1	5.5	3.82	3.45	0.005
	enriched	1824.0	1971.5	147.5	556.0	600.9	45.0	0.64	0.60	0.012
	Incl	1844.0	1864.0	20.0	562.1	568.1	6.1	1.35	1.28	0.013
	And	1891.0	1903.8	12.8	576.4	580.3	3.9	1.12	1.04	0.015
	And	1932.0	1962.0	30.0	588.9	598.0	9.1	1.23	1.15	0.010
	primary	2015.0	2267.3	252.3	614.2	691.1	76.9	0.40	0.03	0.009
	Incl	2015.0	2035.0	20.0	614.2	620.3	6.1	0.87	0.05	0.003
	And	2193.0	2224.2	31.2	668.4	677.9	9.5	0.77	0.04	0.007
ECP-084	enriched	1250.6	1782.0	531.4	381.2	543.2	162.0	1.10	0.98	0.012
	Incl	1420.0	1667.0	247.0	432.8	508.1	75.3	1.45	1.35	0.014
	primary	1782.0	2136.0	354.0	543.2	651.1	107.9	0.65	0.13	0.018
	Incl	1975.0	2085.0	110.0	602.0	635.5	33.5	0.98	0.27	0.022
ECP-086	enriched	1423.7	1466.6	42.9	433.9	447.0	13.1	0.90	0.88	0.005
	enriched	1496.0	1556.6	60.6	456.0	474.5	18.5	1.03	1.02	0.004
	Incl	1498.5	1528.0	29.5	456.7	465.7	9.0	1.68	1.65	0.004
	enriched	1595.0	1819.0	224.0	486.2	554.4	68.3	2.24	2.19	0.010
	Incl	1595.0	1709.0	114.0	486.2	520.9	34.7	2.63	2.60	0.011
	primary	1819.0	1954.0	135.0	554.4	595.6	41.1	0.85	0.26	0.017
ECP-087	enriched	1845.0	1899.0	54.0	562.4	578.8	16.5	0.53	0.20	0.003
	primary	1899.0	2360.4	461.4	578.8	719.4	140.6	0.19	0.02	0.004
ECP-088	enriched	2027.0	2047.2	20.2	617.8	624.0	6.2	1.49	1.16	0.009
ECP-089	enriched	1976.5	1983.0	6.5	602.4	604.4	2.0	1.47	1.41	0.004
	enriched	2146.8	2151.7	4.9	654.3	655.8	1.5	0.59	0.58	0.003
ECP-090	enriched	907.0	1381.0	474.0	276.5	420.9	144.5	0.82	0.73	0.007
	Incl	907.0	967.0	60.0	276.5	294.7	18.3	1.50	1.46	0.007
	primary	1381.0	1863.0	482.0	420.9	567.8	146.9	0.42	0.05	0.011
	Incl	1391.0	1542.0	151.0	424.0	470.0	46.0	0.67	0.09	0.023
ECP-091	enriched	1190.0	1505.0	315.0	362.7	458.7	96.0	0.33	0.32	0.002
	Incl	1228.0	1268.6	40.6	374.3	386.7	12.4	0.76	0.75	0.008
	primary	1505.0	1613.0	108.0	458.7	491.6	32.9	0.18	0.10	0.001
ECP-092	enriched	1,326.7	1,543.5	216.8	404.4	470.5	66.1	1.41	1.35	0.005
	Incl	1,431.0	1,528.0	97.0	436.2	465.7	29.6	2.29	2.20	0.004
	enriched	1,688.3	1,740.5	52.2	514.6	530.5	15.9	0.88	0.83	0.010
	Incl	1,720.0	1,740.5	20.5	524.3	530.5	6.2	1.30	1.22	0.015

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 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-083	422075.7	3645257.0	1387.2	2354.4	0.0	-90.0
ECP-084	421995.5	3645107.1	1382.6	2167.5	0.0	-90.0
ECP-086	422071.4	3644981.2	1379.4	1973.6	0.0	-90.0
ECP-087	421996.0	3645412.3	1389.2	2412.3	0.0	-90.0
ECP-088	422148.9	3645107.8	1383.1	2068.9	0.0	-90.0
ECP-089	422224.5	3645257.8	1390.4	2192.6	0.0	-90.0
ECP-090	422016.6	3644859.1	1375.7	1900.0	0.0	-90.0
ECP-091	422170.5	3644843.7	1377.4	1627.3	0.0	-90.0
ECP-092	422225.2	3644982.7	1381.1	1807.0	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 1-6: https://arizonasonoran.com/projects/exploration/maps-and-figures/
February 10, 2022: https://arizonasonoran.com/news-releases/arizona-sonoran-drills-595-ft-181.4-m-of-1.29-cut-at-parks-salyer-and-increases-existing-private-land-package/
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/
June 23, 2022: https://arizonasonoran.com/news-releases/arizona-sonoran-drills-479-ft-of-1.32-cut-from-parks-salyer-and-announces-an-80-000-ft-24-400-m-drilling-program/
August 23, 2022: https://arizonasonoran.com/news-releases/arizona-sonoran-drills-254-ft-of-1.34-cut-from-parks-salyer/

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. Contiguous to the Cactus Project the Company is also exploring on its 100% owned Park Salyer property 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/20220907005477/en/

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 for ASCUF?

Arizona Sonoran Copper Company reported significant drilling results from its Parks/Salyer project, notably ECP-084 with 531.4 ft @ 1.10% TCu.

How much mineralization was extended in the latest drilling for ASCUF?

The latest drilling extended mineralization by 1,000 ft onto Bronco Creek land.

When is the maiden inferred resource estimate for Parks/Salyer expected?

The maiden inferred resource estimate for Parks/Salyer is expected in Q4 2022.

How many drill holes are pending assays for ASCUF?

Assays are pending for four drill holes in the latest exploration program.

What is the significance of the Bronco Creek land acquisition for ASCUF?

The Bronco Creek land acquisition allows Arizona Sonoran to expand mineralization for its Cactus copper project.