Arizona Sonoran Copper Company

Arizona Sonoran Copper Company Inc. (ASCU) is a U.S.-based copper exploration and development firm focused on its principal asset, the Cactus Project in Arizona. Incorporated in 2019 as Elim Mining Incorporated, the company rebranded in July 2021. The firm is led by President and CEO George Ogilvie, a professional engineer with over three decades of experience in the mining sector, noted for turning around companies like Battle North Gold and Kirkland Lake Gold Inc. Ogilvie's career began in 1989 and includes roles at AngloGold, HudBay Minerals Inc., and Rambler Metals and Mining PLC, where he guided the company from exploration to a profitable producer. The leadership team also includes individuals with extensive experience in mining finance, corporate development, and project management.

The company's core business revolves around the development of the Cactus Project, a brownfield site that includes the former Sacaton Mine, which operated from 1974 to 1984. ASCU acquired the project in July 2020 and is advancing it towards becoming a mid-tier copper producer. The business model is centered on a phased development approach, leveraging the site's existing infrastructure, including access to water, power, highways, and rail lines. The project is located entirely on private land, which streamlines the state-led permitting process. The company generates capital through financing activities, including bought deal offerings and private placements, to fund exploration, drilling, and technical studies.

The Cactus Project is a large-scale porphyry copper deposit located near Casa Grande, Arizona. A 2024 Preliminary Economic Assessment (PEA) outlines a 31-year mine life with a plan to produce LME Grade A copper cathodes directly onsite. The operation will utilize a combination of open-pit and underground mining methods, specifically sub-level caving, across several deposits including Cactus West, Cactus East, and Parks/Salyer. The extracted ore will be processed via a heap leach and a Solvent Extraction/Electrowinning (SX/EW) plant. The project's latest mineral resource estimate indicates approximately 7.3 billion pounds of copper in the Measured and Indicated categories and 3.8 billion pounds in the Inferred category. A February 2024 Pre-Feasibility Study (PFS) projected an average annual production of 55 kilotonnes of copper over a 21-year life of mine. The company's strategic goals for 2025 include extensive drilling to upgrade resource classifications and the completion of a new PFS in the latter half of the year.

Keywords: copper mining, mineral exploration, project development, porphyry copper, heap leach, SX/EW, Cactus Project, Arizona mining, base metals, sub-level caving