Parks/Salyer Focused On Completing Infill Drilling

CASA GRANDE, AZ - Arizona Sonoran Copper Company Inc. reported 5 drill holes from its 105,000 ft (32,000 m) infill to indicated drilling program at Parks/Salyer (P/S), located ~1.3 mi (2 km) southwest of the Cactus Mine Project. ECP-106 intersected 645 ft of 1.58% CuT and 1.22% Cu TSol, situated 250 ft south of ECP-079 in the southern region of the deposit and represents the best hole drilled to date into the Cactus and Parks/Salyer property in terms of grade thickness. The program is reducing drill spacing from 500 ft to 250 ft centers, and intersects continue to support the tenor of mineralization recently released in the inferred Mineral Resource Estimate (MRE) at P/S.

George Ogilvie, President and CEO, said, “Drilling is focused on completing the P/S infill drilling in anticipation of upgrading the P/S inferred mineral resource to the indicated category. Two drills are infill drilling, while a third is completing the auxiliary drilling for geotechnical and hydrology necessary to properly study the deposit for future potential mine planning. We remain on track to complete the indicated mineral resource drilling program by end of Q1 2023 with assays expected within Q2 2023. Pending results, we anticipate advancing an integrated Cactus and P/S project, through to Pre-feasibility Study by Q4 2023/Q1 2024.”

A total of 31 exploration holes spaced at ~500 ft drill spacings were included in the MRE and calculated an inferred copper resource of 2.9 billion pounds at 1.015% total Copper. The total leachable resource totals 2.45 billion pounds at 1.065% total Soluble Copper. The current 105,000 ft (32,000 m) drilling program is reducing drill spacings to 250 ft, aimed at upgrading the mineral resource category to indicated in support of the potential definition of maiden reserves in the upcoming PFS.