Business
Arizona Sonoran Copper Updates Cactus Project Mineral Resource Estimate to 7.3 B lbs of Copper in M&I and 3.8 B lbs of Copper in Inferred – Updated Parks/Salyer Deposit Amenable as an Open Pit
CASA GRANDE, Ariz. & TORONTO / Jul 16, 2024 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), releases i
About this update from Arizona Sonoran Copper Co., Inc.
[{"type":"text","content":"CASA GRANDE, Ariz. & TORONTO / Jul 16, 2024 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), releases its updated Mineral Resource Estimate (“MRE”) for the Cactus brownfield copper project, located 45 miles south of Phoenix, Arizona (see FIGURES 1-3). The updated and expanded MRE is inclusive of a seven-month drilling program targeting the MainSpring property, which was completed in April 2024. The Cactus Project is wholly owned and located on private land in Arizona with direct road and rail access, infrastructure onsite, is at an advanced permitting stage, and has permitted access to onsite water wells. Highlights and key changes from the updated MRE are listed below. Highlights: - Updated total Cactus Project Mineral Resource Estimate (“MRE”) including Primary Mineral Resources: Measured and Indicated (“M&I”) 632.6 million short tons @ 0.58% Total Copper (“CuT”) for 7.3 billion pounds (“lbs”) of copper Inferred 474.0 million short tons @ 0.41% CuT for 3.8 billion lbs of copper - Key Changes: Confirms Parks/Salyer and MainSpring as one deposit, renamed to “Parks/Salyer” Parks/Salyer mineral resource contains 339.0 million short tons @ 0.71% CuT for 4.8 billion lbs of copper in the M&I category and 299.3 million short tons @ 0.43% CuT for 2.6 billion lbs of copper in the Inferred category Parks/Salyer amenable as an open pit within the pending Preliminary Economic Assessment New Parks/Salyer mineral resource dimensions are 6,400 feet (“ft”)(1,950 meters (“m”) by 3,000 ft (915 m) to a maximum depth of 2,350 ft (716 m) below surface 1,904% increase to the Measured Category with inclusion of initial Measured mineral resources at Parks/Salyer, 26% increase to the total M&I and a 60% increase in total Inferred resource, with no change to cut-off grade criteria or underlying price and cost assumptions 42% increase of M&I mineral resources at Parks/Salyer attributed to success of measured infill drilling program, reporting of open pit resources, and reporting based on total copper pounds Parks/Salyer infill drilling (56,907 ft | 17,345 m) converted 55.9 M short tons @ 1.03% CuT for 1.2 billion lbs of copper reported to the measured category 60% increase to the Inferred mineral resources attributed to expansion of Parks/Salyer mineral resource onto the M...