Arizona Sonoran Completes Rezoning of Acquired Land
Arizona Sonoran Copper Company Inc. (TSX:ASCU) ("ASCU" or the "Company"), an emerging US-based copper developer and near-term producer, announces the completion of the General Plan Amendment with the City Council of Casa Grande ("the Council"). The amendment is related to a 2,159 acre parcel of land, including the LKY, ARCUS and Merrill Properties, newly demarcated for manufacturing/industrial use. The Company's entire land package consists of 4,698 acres of private land sufficient to accommodate all the infrastructure envisioned within its 18-year Life-of-Mine Operating Plan. With the new amendment, the entire land package is fully-zoned for industrial purposes (see FIGURE 1).
Ian McMullan, ASCU COO commented, "The rezoning marks our 6th major permit received in the permitting process of the Cactus Mine. As a private landowner in Casa Grande, Arizona, we benefit from a streamlined permitting process at the state and county level. We are dedicated to supporting the local communities as a Core Value of our Company, and we thank the Community for their support in return."
He continued, "The increased land position increases the exposure to the 4 km mine trend while also improving future operational flexibility. The 4 km porphyry copper mine trend extends from Parks/Salyer which we are currently drilling to the southwest and extending northeast over the Cactus Project and into the Cactus NE Extension. Our team will be incorporating the Cactus NE Extension property into the exploration pipeline."
The amendment includes the City of Casa Grande's 2030 General Plan change from the Copper Mountain Ranch Planned Area of Development (PAD) to the Cactus Mine PAD (number 52731.1). Additionally, the land use designation (rezoning) (number 1178.414) is amended from commerce & business and residential to manufacturing/industrial use for the 2,159-acre parcel.
The Council also approved a Development Agreement for these re-zoned lands as part of the Cactus Mine. Included in the Agreement are community benefits such as employment sourcing a minimum 20% from the local area, as well as the construction of viewshed berms along the eastern and northern portions of the re-zoned lands. These 100-foot berms will be built as part of construction activities and vegetated with local desert vegetation to fit with the landscape of the area. ASCU will also dedicate and develop a community bike path on the eastern and portions of the northern boundary that will tie into the City of Casa Grande's new system of hiking and biking trails, thus providing for both residents and visitors the opportunity for healthy outdoor recreational activities.
Links from the Press Release
FIGURES 1: https://arizonasonoran.com/projects/cactus-mine-project/press-release-images/
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About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
ASCU's objective is to become a mid-tier copper producer with low operating costs, develop the Cactus Project that could generate robust returns for investors, and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company's principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.
Forward-Looking Statements
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals.
Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and ASCU disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220105005403/en/
Contact
Alison Dwoskin, Director, Investor Relations
647-233-4348
adwoskin@arizonasonoran.com
George Ogilvie, President, CEO and Director
416-723-0458
gogilvie@arizonasonoran.com