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Arizona Sonoran Copper Company Inc. (OTCQX: ASCUF; TSX: ASCU) generates a steady flow of project and corporate news as it advances the Cactus Project in Arizona. As a copper exploration and development company focused on a brownfield porphyry copper deposit, its disclosures center on technical studies, drilling results, permitting milestones, land acquisitions and financing activities that shape the future of the project.
News coverage for Arizona Sonoran typically highlights progress on the Cactus Project’s technical work, including updates on the NI 43-101 Pre-Feasibility Study, the filing of the PFS technical report, and the launch of Definitive Feasibility Study infill drilling programs. Releases also describe extensive infill and step-out drilling at the Parks/Salyer, Cactus West and Cactus East deposits, with details on mineralized intervals and the impact on the project’s Mineral Resource Estimate.
Investors following ASCUF news will also see announcements on permitting developments, such as the granting of a Dust Permit by the Pinal County Air Quality Division and the status of amendments to key state permits, including the Aquifer Protection Permit, Industrial Air Permit and Mined Land Reclamation Permit. Land acquisition news, including the purchase of additional private acreage to support SX/EW facilities, leach pads and waste rock stockpiles, provides insight into how the company is consolidating its project footprint.
Financing and strategic partnership updates, such as private placements, bought-deal offerings and investments by industry participants, are another recurring theme in Arizona Sonoran’s news flow. Together, these news items offer a detailed view of how the company is working to de-risk the Cactus Project and advance toward its stated objective of developing a copper cathode operation in Arizona. For readers tracking ASCUF, this news stream provides context on technical, regulatory and financial milestones over time.
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Arizona Sonoran Copper Company (ASCUF) has announced significant progress in its pre-feasibility study (PFS) at the Parks/Salyer site with the completion of 6 infill drill holes. This drilling program was completed on time and budget, with results aiding the development of an updated resource model and mine plan, aiming for the declaration of first reserves by Q1 2024. The PFS explores an integrated operation targeting an annual production of 50,000 tonnes. Results include notable mineralization with ECP-131 demonstrating 1,209.7 ft at 0.70% CuT. The project’s focus now shifts to feasibility drilling, with additional geotechnical and hydrological studies planned. The company’s drilling efforts have confirmed a continuous deposit with enriched mineralization indicating potential for bulk mining.
Arizona Sonoran Copper Company (ASCU) has closed a non-brokered private placement financing, with Nuton LLC exercising its pre-emptive rights to maintain a 7.2% ownership in the company. Nuton subscribed for 1,229,140 common shares at C$2.00 each, raising gross proceeds of C$2,458,280. This follows ASCU's earlier C$30 million bought deal public offering. The shares are subject to a hold period until August 1, 2023, pending approval from the Toronto Stock Exchange. Nuton employs proprietary copper leach technologies to enhance copper recovery and is currently testing mineralized samples from ASCU's Cactus and Parks/Salyer Projects.
Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) announced the receipt of the Mined Land Reclamation Permit (MLRP) for its Cactus Mine Project, a crucial step in the mining operation's regulatory process. This permit was granted by the Arizona State Mine Inspector's Office, following the company's application in December 2022. The approval reflects the company's commitment to safe and responsible mining practices. The MLRP ensures financial assurance for the reclamation of the mining site post-operations. With major permits in hand, ASCU is moving forward with its goal of developing the Cactus Project into a mid-tier copper producer.
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.
Arizona Sonoran Copper Company (TSX:ASCU | OTCQX:ASCUF) reported successful exploration drilling at the NE Extension, confirming 990.7 ft (302 m) of continuous copper mineralization with an average of 0.42% CuT. This drilling is part of a broader project targeting the Cactus Mine Trend, with a budget of $0.9 million for 2023 specifically for the Gap Zone and NE Extension. Notable infill drilling at Cactus East also yielded high-grade copper results. The company expresses confidence in the potential of these zones, identifying them as excellent targets for further exploration.