Arizona Sonoran Copper’s (TSX: ASCU) ongoing 32,000-metre infill drill program at its Parks-Salyer (P/S) porphyry copper deposit has delivered an intercept of 217.7 metres grading 1.01% copper.
The strong intersection comes from a further three drill holes drilled at P/S, following the preliminary Inferred useful resource in September of 143.6 million tonnes grading 1% copper for two.92 million lb. of contained copper.
The drill program continues to focus on 76-metre facilities to generate an indicated mineral useful resource on the deposit.
In keeping with the corporate, the infill drilling continues to intersect thick high-grade mineralization, supporting the presently modelled inferred useful resource assertion.
Drilling is anticipated to proceed to the second quarter of 2023.
With 12 holes full, there stay one other 12 holes to drill.
Additional metallurgical column check work on the P/S leachable mineralization is underway and is anticipated to run all through 2023. Moreover, geotechnical and hydrological research on P/S have now been began.
New metallurgical column exams have begun on the Cactus deposit, designed to underpin a future bankable feasibility research.
President and CEO George Ogilvie stated in an announcement Wednesday the corporate was pursuing finishing a mixed prefeasibility research within the subsequent 11-17 months.
“The lately issued maiden mineral useful resource estimate for P/S mixed with the useful resource estimate at Cactus has catapulted the mixed tasks to a dimension that will make it the fourth largest unbiased copper deposit within the U.S. with a complete copper useful resource of 4.9 billion lb. inferred and 1.6 billion lb. indicated.
The corporate presently holds a complete leachable inferred useful resource stock – comprising the Cactus open pit and the P/S underground – to 449.9 million tonnes at 0.544% copper for 4.89 billion lb. of copper. The overall indicated useful resource, which solely applies to Cactus, stays at 151.8 million tonnes at 0.531% copper for 1.61 billion lb. of the purple metallic.
Because of the enhance in its international mineral useful resource base, Arizona Sonoran says it is going to think about the inclusion of oxide and enriched materials at P/S in a future pre-feasibility research incorporating each deposits. Future research could be primarily based on the expanded leachable stock, heap leaching and SX/EW course of methodology.
The corporate gained 5¢ per share to shut at $1.61. It’s down 26% over the previous 12 months, with a market cap of $145 million.