121 0 Kommentare Arizona Sonoran Announces 2024 Work Plan

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) today announces its 2024 work plan and 2023 achievements. The ensuing year’s activities relate to the continued advancement of the Cactus Property, through Feasibility studies while concurrently completing Nuton-related work programs.

2023 Achievements

c. $74 million CAD Financing
- C$30M (February) via bought deal financing
- US$33M (December) via initial option to JV payment (PR - Dec 14, 2023)
Option to JV with Nuton LLC, a Rio Tinto Venture
- Total option exercise payment to be determined based on the standalone ASCU Pre-Feasibility Study (“PFS”) net present value (“NPV”)
Mineral Resources
- Increased the total M&I mineral resources by 221%
- Increased the leachable M&I mineral resources by 316%
Strengthened the Owner/Operator Team
- Appointed Bernie Loyer as SVP Projects, Steve Dixon, Senior Metallurgist, Chris White, Chief Mine Geologist, and Victor Moraila, Chief Mine Engineer and Alan Hernandez, Senior Project Engineer
Drilling – Completed 150,561 ft (45,891 m) of drilling, including infill and exploration. Discovered MainSpring near surface mineralization south of Parks/Salyer and confirmed mineralization in the Gap Zone and NE Extension
Land – purchased an option to acquire the MainSpring Property (543 acres) and began its rezoning from Residential to Industrial with the City of Casa Grande.
Metallurgy – completed ASCU PFS metallurgy
- Ongoing DFS metallurgy and Nuton metallurgical testing
Permitting – successfully completed all major permits related to the Cactus PEA. Modified water rights through ADWR to include MainSpring and ASLD Lands

2024 ASCU Work Plan Highlights

Technical Studies – Complete ASCU’s Standalone PFS and initiate the Amended PFS which will incorporate Mainspring. The Amended PFS will be compared to the subsequent Nuton case Integrated PFS. Assuming the economics meet the required thresholds, and Nuton chooses to exercise its option, it will make the option payment based on a 0.65x multiple of the NPV included in the Amended PFS including Mainspring thereby obtaining up to 40% of the project.
- Standalone ASCU PFS expected in 1Q24
- Amended PFS including Mainspring, estimated for completion by October 2024
- Standalone DFS estimated completion June 2025
Drilling Programs – Infill to inferred and indicated programs totaling 180,000 ft (54,860 m) at MainSpring and Cactus West required for future technical studies. Drilling will target oxide, enriched and primary mineralization
Metallurgy – Begin evaluating MainSpring and Parks/Salyer heap leach amenability in 20 ft (6m) columns in a commercial laboratory
Permitting will include amending permits (SWPP, Aquifer Protection Permit and Industrial Air) related to the Cactus PFS