Vancouver, British Columbia--(Newsfile Corp. - August 6, 2024) - Sonoran Desert Copper Corporation (TSXV: SDCU) ("SDCU'' or the "Company") is pleased to announce that the Company has signed an amendment (the "Amendment") to the option to purchase a 100-per-cent interest in the Cuatro Hermanos Porphyry Copper Project (the "4H Project"), located in Sonora, Mexico, 185 kilometres southeast of Hermosillo.
Under the Amendment, dated July 29th, 2024
Original terms of the Option are detailed in the News Release dated February 9, 2023
Payments reduced for years 2025 - 2027
Expenditures reduced for years 2024 - 2027 to the amount required under Mexican regulations
Mine Taxes reduced through the termination of the San Lorenzo concession from the 4H Option
Updated Transaction Details
To exercise the Purchase Option, SDCU will now make cash payments to Minerales Y Yacimientos Mexicanos Sacramento, S.A. DE C.V. and complete work expenditures and make Mine Tax payments for a 100% ownership of the Cuatro Hermanos concessions, as per the following (all in USD):
Date
Old Payment
New Payment
Old Expenditures
New Expenditures
December 31 2023
$ 50,000
Paid
$ 100,000
Completed
December 31 2024
$ 150,000
$ 150,000
$ 250,000
$ 66,019
December 31 2025
$ 200,000
$ 150,000
$ 500,000
Minimum Required
December 31 2026
$ 200,000
$ 150,000
$ 1,000,000
Minimum Required
December 31 2027
$ 200,000
$ 150,000
$ 1,000,000
Minimum Required
December 31 2028
$ 5,062,500
$ 5,062,500
$ -
Minimum Required
Totals
$ 5,862,500
$ 5,662,500
$ 2,850,000
Date
Mine Tax
Status
December 31 2023
$ 183,771
Paid
December 31 2024
$ 129,186
Paid
December 31 2025
$ 70,000
Estimate
As a result of the Amendments, SDCU will reduce its required USD capital expenditures in 2024 and 2025 on the 4H Project, as per the following:
Savings in 2024
$238,566
Savings in 2025 (projected)
$603,640
4H Project Overview
The 4H Project is located in Sonora, Mexico, and comprises 9 concessions and contains a large porphyry copper-molybdenum system with surface measurements of at least four kilometres east-west by two kilometres north-south. The Company released a recent NI 43-101 report on the 4H Project in October 2023 which comprised a review of historical work. Historical resources were last estimated in 2008:
Primary sulphide mineralisation is chalcopyrite and molybdenite with secondary oxide chalcocite. **
Under the recent sampling program, the results of which were announced in a News Release dated January 11, 2024, grab samples were collected with a focus on the areas of the 4H Project that have received minimal historical attention. The results were highlighted with assays returning up to 16.25% Copper in the South Conglomerate Zone. The twenty samples in the South Conglomerate Zone averaged Copper grades of 1.736%. *
South Conglomerate Zone Results - 20 samples collected
SOUTH CONGLOMERATE
Cu (ppm)
Mo (ppm)
Ag (ppm)
Min
102
1.68
0.21
Max
162,500
49.8
1.54
Average
17,363
22.1
0.9
Std Deviation
35,184
13.9
0.3
South Conglomerate Detailed Copper Assays
Sample #
Cu (ppm)
Cu %
1843843
10,950
1.095%
1843844
12,800
1.280%
1843845
102
0.010%
1843846
3,800
0.380%
1843848
4,640
0.464%
1843849
1,940
0.194%
1843850
2,090
0.209%
1843851
2,530
0.253%
1843852
11,550
1.155%
1843853
7,960
0.796%
4H015a
15,700
1.570%
4H015b
21,700
2.170%
4H015c
10,900
1.090%
4H016
17,550
1.755%
4H017b
3,160
0.316%
4H033
10,250
1.025%
4H034
35,900
3.590%
4H036
4,730
0.473%
4H037
162,500
16.250%
4H038
6,500
0.650%
Average
1.736%
The South Conglomerate area is higher-grade, and the immediate development plan is to percussion drill this area to an inferred resource at minimal cost. This drilling along with permitting, metallurgy and acid-sourcing can be completed in the next 24 months. The soluble copper content in the North and South Conglomerates, in addition to the supergene zones contained in the 4H porphyry have the combined potential for a significant Heap Leach & SX-EW operation.
Cautionary Note
* The reader is cautioned that grab samples are selective by nature and may not represent the true grade or style of mineralization across the property. ** The resource estimate is historical in nature and has not been verified by a Qualified Person as defined by NI 43-101 and should not be relied upon as a current mineral resource estimate. The Company is not treating these historical estimates as current mineral resources or reserves. While the historical estimates are relevant for providing context on the potential of the property, further work, including verification by a Qualified Person, will be required to upgrade or confirm this estimate.
Qualified Person Statement
The technical contents of this release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101.
References
(1) 09 August 2008. Technical Report, Cuatro Hermanos Porphyry Copper-Molybdenum Project Sonora, Mexico. Prepared for Virgin Metals Inc. (by Chlumsky, Armbrust and Meyer, LLC. Richard Nielsen, PhD. & Robert Sandefur, P.E.
ABOUT SONORAN DESERT COPPER CORPORATION
Sonoran Desert Copper Corporation is focused on securing, developing and monetizing materials assets and technologies to build shareholder value.
On behalf of the Board of Directors of SONORAN DESERT COPPER CORPORATION
"Brian Leeners"
Brian Leeners, CEO & Director [email protected] / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements.
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