These results reflect all assays received to date from the company’s ongoing reverse-circulation drilling program focused on expanding 4 of the 17 gold mineralization zones at Cerro Caliche. The Cerro Caliche project, located approximately 45 kilometers from the town of Magdalena de Kino, is one of Sonoro’s two projects in Mexico.
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I’m Ashton Addison for Investmentpitch Media
Sonoro Gold announced assay results from 12 reverse-circulation drill holes at its Cerro Caliche project in Sonora State, Mexico.
The Cerro Caliche project, located approximately 45 kilometers from the town of Magdalena de Kino, is one of Sonoro’s two projects in Mexico.
Its San Marcial property is also located in Sonora State, 20 kilometers east of the San Francisco Mine, owned and operated by Magna Gold Inc.
These results reflect all assays received to date from the company’s ongoing reverse-circulation drilling program focused on expanding 4 of the 17 gold mineralization zones at Cerro Caliche.
In total, 34 reverse-circulation holes have been drilled to date, but assay turn-around times are very slow due to COVID-19 related delays.
An additional 25 to 30 reverse-circulation holes are expected to be completed by this coming mid-December and rock density determinations have also been initiated for incorporation into the resource data.
At Japoneses, SCR-104 intercepted 15.24 meters averaging 1.278 grams per tonne gold and SCR-106 intercepted 16.76 meters averaging 0.853 grams per tonne gold.
At Buena Suerte, SCR-096 intercepted 16.76 meters averaging 0.841 grams per tonne gold and SCR-097 intercepted 12.19 meters averaging 0.508 grams per tonne gold.
Highlights include key intercepts at the premier Japoneses and Buena Suerte zones.
The drill intervals are near true widths of the vein zones unless reported otherwise.
The Japoneses vein zone is the largest mineralized zone on the Cerro Caliche project with dimensions of up to 300 meters wide by 550 meters long with the 5 new holes reported here filling several drill pattern gaps and also extending the mineralized zone 100 meters to the northwest and 100 meters to the southeast.
The company expects that these results will contribute to establishing a significant addition to Cerro Caliche’s existing 201,000 gold equivalent inferred resource estimate.
Kenneth MacLeod, President and CEO, stated: “We are very encouraged by the results thus far as they indicate we are on track with our plans to increase and upgrade Cerro Caliche’s inferred gold equivalent resource, while at the same time our work to develop a heap leach gold mining operation is proceeding right on schedule. We are also pleased to report that 100% of 5 million warrants exercisable at $0.15 have been exercised for proceeds to Sonoro of $750,000.”
Core drilling at Cerro Caliche to investigate the higher-grade gold targets remains ongoing.
Nine exploratory holes have been completed to date and an additional ten core holes are expected to be completed by mid-December.
Furthermore, an air-track drill rig is scheduled to commence shallow percussion drilling to investigate continuity of mineralization between the mineralized zones.
As part of the company’s strategy to fast-track the development of a Heap Leach Mining Operation Cerro Caliche, ten 85-milimeter diameter PQ Core holes were drilled to supply deeper mineralized material for metallurgical testing.
Management is expanding its development plans from the previously announced pilot level project to assess the economic viability of a proposed 8,000 ton per day mining operation.
John Darch, Chairman, added: “While we continue drilling our higher-grade gold targets, our primary focus remains on accelerating the proposed heap leach mine development with the intention of achieving production and cash flow by December 2021. I expect both efforts, in addition to our high-grade drilling program, should produce an exceptional and exciting 2021 for Sonoro’s shareholders.”
The shares are trading at $0.265.
For more information, please visit the company’s website, www.SonoroGold.com, contact Kenneth MacLeod, President and CEO, at 604-632-1764 or email info@SonoroMetals.com.
I’m Ashton Addison for Investmentpitch Media
