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PRESS RELEASE: Sonoro drilling targeting high-grade Epithermal gold mineralization at Cerro Caliche
VANCOUVER, Canada, June 26, 2020 - Sonoro Metals Corp., (“Sonoro” or the “Company”) (TSXV: SMO) (OTCQB: SMOFF) is pleased to announce plans for its 2020 Phase One Drilling Program at Cerro Caliche, and has issued an illustrative plan titled ‘Targeting High Grade Gold Mineralization at Depth’ (the “Drilling Plan”) available here and on the Cerro Caliche project page of the company’s website*. Sonoro is also investigating alternative plans for its proposed Heap Leach Pilot Operation (HLPO).
Phase One of the program will total 6,000 meters of core drilling to test 20 targets, of which the initial 11 holes have been identified in the Drilling Plan. Of the remaining nine holes, seven have been tentatively identified in the Drilling Plan and two are reserved depending on the results of prior holes. This initial core drilling program is the first segment of the proposed 50,000 meters of core and rotary drilling contemplated in the Company’s May 26, 2020 news release.
Permitting for Phase One in place, financing discussions underway
The Company has the required permits to proceed with the first phase of the drilling program. Sonoro is currently in talks with various parties regarding the structure and amount of a potential financing for the program. Consequently, subject to Sonoro securing the necessary financing, drilling could commence within three weeks of completion of the financing
The main purpose of the 2020 Phase One drilling program is to explore the potential for Cerro Caliche’s outlined, previously drilled, shallow, gold-bearing epithermal mineralization to explore zones to test for the presence of deeper high-grade gold mineralization. The Drilling Plan is based on the content and conclusions explained in the Cerro Caliche Project Development report (the “PDR”) and subsequent work to define specific drill targets. The PDR, which outlined the potential for higher grade gold zones deeper in the epithermal system, was disseminated to the public by the Company on May 25th, 2020 and is available on the Sonoro website at: www.sonorometals.com.
As illustrated in the Drilling Plan, the proposed 6,000 meters of core drilling will target mineralized zones projected to support vein zone coalescences at elevations favorable for the deposition of high-grade gold, at a depth from surface averaging approximately 200 to 300 meters. Drilling will test the confluence of parallel striking gold bearing vein zones that, at surface, are expressed as gold enriched sheeted vein sets. It will also similarly test at depth, the area’s coalescing of gold enriched stockwork zones. An additional focus is on areas where the rock type changes from quartzite to cretaceous andesite host rock.
Projected potential gold grades
The deep potential targeted by Sonoro will test for similarities to the neighbouring Mercedes mine, 9 km to the southeast. The Mercedes mine operates mainly underground with mining supplying a 2,000 tonnes per day mill that has operated since 2011 (Premier Gold website). The Mercedes mine is located in the same mineralized epithermal district and related hydrothermal - igneous system that hosts the Cerro Caliche mineralized area. Average mine-mill grades at the Mercedes mine have ranged between 3 and 6 grams/tonne gold with up to 100 grams/tonne silver. While encouraging because Cerro Caliche shares similarities with the geology at the Mercedes mine site, there can be no assurance that high grade gold zones similar to those at Mercedes will be discovered at Cerro Caliche.
Drilling to be concurrent to Heap Leach Pilot Operation development
The Phase One drilling is expected to take up to five months. It will continue concurrent with Sonoro’s ongoing efforts to complete an agreement with one of the four China-based EPC companies that the Company is in discussions with for the financing and development of its proposed Cerro Caliche Heap Leach Pilot Operation (HLPO). Advancing productive discussions with the Chinese EPC companies has been delayed by COVID-related travel restrictions since February 2020. Because there can be no assured date as to when COVID related restrictions will be lifted, Sonoro is investigating an alternative plan to advance its proposed HLPO with Mexican technical expertise, thereby possibly eliminating the impact of future COVID-19 related travel restrictions. Additional information on the alternative plan will be announced in due course.
"Aside from the evident bull market gold is building", said John Darch Sonoro’s Chairman, “Sonoro is in a position to potentially benefit from multiple high-impact value catalysts in the coming months. Of these catalysts, the drill-testing of these deeper, possible high-grade gold targets is the most immediate and has the greatest potential to add value in the near-term,” he added.
“As this news release details, our strategy is to employ what we think is an ideal combination of well-targeted exploration drilling, which has the potential to define wider vein intercepts with the potential to demonstrate higher gold grades across the project, together with proposed plans for development of a Heap Leach Pilot Operation which, if achieved, has the potential to fund Sonoro’s future growth,” said Kenneth MacLeod, President & CEO of Sonoro. “Consequently, it could greatly reduce the need for future equity financings.”
Sampling Results
To assist in the selection of targets for the Drilling Plan, Sonoro has completed an in-depth analysis of a total of 4,397 surface samples comprised of chips and channel samples of veins, stockwork and rocks that are confirmed to conform to Sonoro’s QA/QC protocols. Of these, the results of 3,834 samples were summarized in Sonoro’s news release dated October 10, 2018. Since that date, an additional 406 samples collected by Sonoro and 406 samples collected under NI 43-101 standardized methods by prior operator, Paget Southern Resources, have been added to the database. The 4,397 sample results averaged 0.48 g/t Au and 6.7 g/t Ag. Further analysis of the database showed that 495 samples averaged 3 g/t Au and 35 g/t Ag.
Sonoro has also received additional data from the historical exploration program carried out by Corex Gold in 2006 and 2007. Assay data for a total of 563 trenches and road-cut samples are being analyzed and will be added to the Sonoro database. This data is from sampling conducted under NI 43-101 standardized methods and is useful for resolving geology and assessing mineralized zones for future drilling.
On-Site Quality Assurance/Quality Control (QA/QC) Measures
Rock samples were collected by Sonoro’s geological and technical employees utilizing industry-standard methods of collection, including recording of descriptive data with hand held GPS-determined locations in UTM NAD 27 grid locations of center point of continuous chipped fine to coarse rock material collected directly into micropore or plastic bags from 1.5 to 3 meter lengths. Rock material collected was contained in numbered plastic bags with plastic zip ties closing them and numbered paper tags were inserted into the bags to confirm identification. Bags are locked in secure locations under the supervision of Sonoro personnel and are then transported by Sonoro personnel to the ALS-Chemex sample preparation facility in Hermosillo, Sonora, Mexico. The ALS-Chemex laboratory in Hermosillo prepares the samples by crushing, splitting and grinding to a fine pulp culminating with shipment to the ALS-Chemex analytical laboratory in Vancouver, B.C. for gold analysis by 30 gram fire assay with AA finish. In addition, a second small fraction of pulp is dissolved in a 4-acid mixture and is processed for the ICP determination of normal 35 element package. The ALS-Chemex laboratory inserts blanks and gold standards into the sample stream to verify the accuracy of the laboratory processes.
Qualified Person Statement
All scientific and technical information contained in the Drilling Plan and this press release has been reviewed and approved by Stephen Kenwood, P.Geo., a Director of Sonoro Metals Corp., who is a "qualified person" as defined in NI 43-101.
On behalf of the Board of SONORO METALS CORP.
Per: “Kenneth MacLeod”
KENNETH MACLEOD
President & CEO
For further information, please contact:
Sonoro Metals Corp. - Tel: (604) 632-1764
Email: info@sonorometals.com
*Link to “Drilling Plan” on website: https://sonorometals.com/wp-content/uploads/2020/06/20200626-Drilling-Targeting-High-Grade-FINAL.pdf
Forward-Looking Statement Cautions: This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's plans for 50,000 meters of drilling of the above-described Cerro Caliche Concessions, located in the municipality of Cucurpe, Sonora, Mexico, the Company’s future exploration plans for those properties, the development of a heap leach pilot operation, and the need for future financing to support the Company’s operations. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility of unfavourable interim exploration results, the lack of sufficient future financing to carry out exploration plans, and unanticipated changes in the legal, regulatory and permitting requirements for the Company’s exploration programs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR at www.sedar.com.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SONORO METALS CORPORATION
PRESS RELEASE: Sonoro issues revised Cerro Caliche project development report
VANCOUVER, Canada, May 26, 2020 – Sonoro Metals Corp., (“Sonoro” or the “Company”) (TSXV: SMO) (OTCQB: SMOFF) is pleased to report that it has published a revised version of its Cerro Caliche Project Development Report dated May 22, 2020 (the “Revised Report”). As disclosed in its press release of May 13, 2020, as a result of a review by the British Columbia Securities Commission, the Company withdrew an April 28, 2020 version of this project development report as it contained certain technical disclosures that did not comply with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The Revised Report, which is not a technical report as defined by NI 43-101 and should not be considered as such, has been updated to address those disclosure issues and is now available on the Cerro Caliche project page of the Company’s website: https://sonorometals.com/wp-content/uploads/2020/04/Cerro-Caliche-Project-Development-Report-2020-21-1.pdf
Based on the methodologies and modelling set out in the Revised Report, the Company believes that the 50,000 meters of drilling planned for 2020 and 2021 will enable the Company to not only outline additional gold and silver mineralization where zones of mineralization are currently open in one or more directions, but also to evaluate 16 surface defined gold mineralized zones that have not previously been drill tested. Drilling will include both infilling the zones that were previously drilled as well as a large number of holes to test undrilled portions of the various mineralized trends along strike and at depth.
The proposed drilling program has been designed to test the exploration target of between 75,000,000 to 100,000,000 tonnes with grades potentially between 0.3 g/t to 0.5 g/t AuEq. The potential tonnages and grades set forth in the analysis of geological potential are conceptual in nature, as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Good exploration potential exists in what has been interpreted to be the boiling zone, or favorable zone, which was better defined in the Revised Report. Analysis of higher grade chip samples taken by the Company over an area of 4 kms by 3 kms were restricted to elevations between 1,100 masl to almost 1,700 masl; most of these samples ranged from 4 g/t to 25 g/t gold with a high of 95 g/t (NI 43-101 Report on the Cerro Caliche Gold Project, July 26, 2019). This data will assist in planning holes to target high grade intercepts in areas where previously tested trends are open at depth or along strike. Additionally, there is exploration potential for additional gold and silver targets on the property that have been discovered by prospecting, mapping and rock chip sampling and have yet to be drill-tested.
The Company has also updated its corporate presentation available on the “Investors” page of its website.
All scientific and technical information contained in the Revised Report, the corporate presentation, and this press release has been reviewed and approved by Stephen Kenwood, P.Geo., a Director of Sonoro Metals Corp., who is a “qualified person” as defined in NI 43-101.
On behalf of the Board of SONORO METALS CORP. Per: “Kenneth MacLeod”
KENNETH MACLEOD President & CEO
For further information, please contact: Sonoro Metals Corp. – Tel: (604) 632-1764 Email: info@sonorometals.com
Forward-Looking Statement Cautions: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, the Company’s plans for 50,000 meters of drilling of the above- described Cerro Caliche Concessions, located in the municipality of Cucurpe, Sonora, Mexico, and the Company’s future exploration plans for those properties. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility of unfavourable interim exploration results, the lack of sufficient future financing to carry out exploration plans, and unanticipated changes in the legal, regulatory and permitting requirements for the Company’s exploration programs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR at www.sedar.com.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SONORO METALS CORPORATION
PRESS RELEASE: Third MOU for Financing and Development Executed
VANCOUVER, Canada, June 11, 2020, Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP), (“Sonoro” or the “Company”), provides the following update regarding proposed project debt finance, engineering, procurement and construction (“EPC”) contracts with China-based EPC companies.
The Company has executed a third Memorandum of Understanding (“MoU”) for the finance and development of its proposed Cerro Caliche Heap Leach Pilot Operation (“HLPO”). As of February 28, 2020, Sonoro had received two executed MoUs regarding project debt financing and EPC services for its proposed Cerro Caliche HLPO.
“This latest MoU is from one of China’s state champions whose geological team has extensively analyzed all of Sonoro’s data and approved it as a project they would like to proceed with,” said the Company’s representative, Dr. Wei Qian. “It’s a very good endorsement and clear indication that business in China is resuming,” Dr. Qian added.
Sonoro anticipates that it should begin receiving detailed proposals regarding the provision of EPC services together with project finance in the coming weeks, as internal travel restrictions in China continue to be more relaxed.
Sonoro’s executive team and the EPC companies continue to wait for a further easing of current international travel restrictions in order to allow in-person meetings in China and the various EPC companies’ technical teams to fly to the proposed mine site in Sonora State, Mexico. Rescheduling of these meetings is subject to Chinese and Mexican authorities giving the green light for Chinese citizens to begin non-essential travel to Mexico.
Chairman John Darch, Director of Finance Neil Maedel and Sonoro’s representative Dr. Wei Qian had originally planned to visit China last February 2020 to continue discussions regarding detailed agreements as now outlined in the respective MoUs. Despite its reported success in dealing with the virus, China’s health officials remain cautious. In Mexico, most mining operations have resumed as the country’s lockdown of exploration and mining activities was recently lifted, an indication that the area where more than 80% of Mexican mining production occurs has very low levels or no COVID-19 infections within the local population.
“We are very pleased to execute this latest Memorandum of Understanding”, said John Darch, the company’s Chairman. “Like Dr. Qian, I am especially encouraged by the fact that during this challenging time three of the well-established and highly respected Chinese EPC Companies we met in China continue to actively pursue a business relationship with Sonoro.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.
On behalf of the Board of SONORO METALS CORP.
Per: “John Darch”
JOHN DARCH
Chairman
For further information, please contact:
Sonoro Metals Corp. – John Darch, Chairman
Phone: (604) 632-1764
Email: info@sonorometals.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
A summary of the new Project Development Report..
file:///C:/Users/19494/AppData/Local/Packages/Microsoft.MicrosoftEdge_8wekyb3d8bbwe/TempState/Downloads/Summary%20of%20PDR%202020.06.02%20%20(1).pdf
SONORO METALS CORPORATION
Cerro-Caliche
Project Development Report
https://sonorometals.com/wp-content/uploads/2020/04/Cerro-Caliche-Project-Development-Report-2020-21-1.pdf
NEW REPORT RELEASE: Sonoro releases cerro caliche project development report – Potential for high-grade gold zones at depth highlighted
Also Available online here: https://sonorometals.com/it-is-apparent-to-us-that-the-cerro-caliche-district-contains-a-major-gold-rich-hydrothermal-system/
Over the past year our focus has been to complete the work necessary to support our planned Heap Leach Pilot Operation (HLPO) proposal. The next step in this regard is for the EPC companies’ technical teams to visit the Cerro Caliche site in Sonora, Mexico. With much of the world essentially locked down by the COVID Pandemic, we have done all the necessary preparatory technical work for these visits and are now waiting for travel restrictions to be lifted, as well as preparing for the next drill sampling phase.
In the meantime, we judged it sensible to spend the extra time created by the COVID travel ban to take a step back and assess the total results we have accumulated to date so that we can refine our understanding regarding the size and implications of the mineralized system which comprises Cerro Caliche. The purpose of this exercise was to focus our exploration model and fine tune our approach to ensure that our future exploration activities are increasingly cost effective and ultimately successful.
To accomplish this, the Sonora team has worked through the massive amount of data generated over the past two decades by your company and three predecessors. This includes over 23,000 meters of drilling, more than 6,000 soil and rock samples and volumes of new notes regarding the rock textures and, more subtle but still critical, aspects regarding the local and regional geology.
We believe the attached report is comprehensive in its detail and it’s also available online here:
https://sonorometals.com/wp-content/uploads/2020/04/Cerro-Caliche-Project-Development-Report-2020-21-1.pdf
Admittedly it’s lengthy, however the details are of critical importance, so we encourage you to read through it if you want to fully comprehend our understanding of the geology of the site. Taking the time to look at the big picture and apply the epithermal low sulfidation mineralization model to the Cerro Caliche site within the context of the surrounding district has turned out to be a highly worthwhile exercise. In part of the report we wrote, “What is remarkable is the ubiquitous nature of the gold contained within the hundreds of parallel NW trending quartz veins. Most quartz veins sampled carried more than 1 g/t Au. Many returned high grades ranging from 4 g/t Au to 25 g/t Au with one standout returning 97 g/t Au.”
It is apparent to us that the Cerro Caliche district contains a major gold-rich hydrothermal system which has enriched both the Cerro Caliche and the neighboring Mercedes Mine areas. After applying the classic low sulfidation epithermal model to the results thus far, it is also clear that the potential for expansion is exceptional, together with the opportunity to discover much higher-grade gold zones as we drill deeper.
We expect that between accelerating the HLPO program and our planned exploration activities, it will be a very exciting and productive 2020. In the meantime, please take a little time to read our report.
Mel Herdrick, P. Geo...……………………………. Jorge Diaz, MSc.
VP Exploration, Sonoro Metals Corp...….. VP Operations, Sonoro Metals Corp.
interest from a couple of groups from china and a group
from germany could prove interesting and profitable...
Sonoro Engages New Tigers Technologies to Open China Branch Office
3:15 AM ET, 09/03/2019 - GlobeNewswire
VANCOUVER, British Columbia, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Sonoro Metals Corp., (“Sonoro” or the “Company”) (TSXV: SMO) (OTCQB: SMOFF) is pleased to announce that it has entered into an agreement with New Tigers Technologies Ltd., (“NTT”) a wholly owned subsidiary of New Tigers Consulting Ltd. (www.newtigers.com) of Suzhou, Jiangsu Province, P. R. China, where NTT will act as Sonoro’s representative and establish a representative office for the Company at NTT. A key NTT function will be to identify and introduce Sonoro to China-based engineering, procurement and construction (“EPC”) companies considered to be a good potential fit for Sonoro’s project requirements. NTT has already assisted with initial introductions, enabling Sonoro to commence discussions regarding the development and financial structuring of its proposed Cerro Caliche heap leach pilot operation. As part of this engagement, NTT will continue to identify and introduce potential Chinese project partners for Sonoro’s projects, while facilitating ongoing communications with those already engaged in discussions with the Company. According to the agreement, following any future joint development between Sonoro and any China-based entities, NTT will continue to act as the Company’s China branch office representative.
During the week of July 21st, on an exploratory business tour organized by NTT and exclusive to the Company, Chairman John Darch and Director of Finance Neil Maedel travelled to Beijing, Yantai, Shanghai and Hong Kong to meet with corporate executives and initiate discussions regarding potential EPC and project development and structuring agreements. The Company has since entered into Confidentiality Agreements and commenced formal discussions with five China-based EPC companies regarding potential EPC contracts, and opportunities for project financing.
John M Darch, Chairman of Sonoro, commented, “In our meetings, these companies very graciously detailed their advanced technical capabilities regarding engineering and mine design, equipment manufacturing and finally, installation and commissioning. I found it extremely encouraging that some of the examples they used, were mines that processed mineralization with gold grades similar to those at our Cerro Caliche property. Each of these companies has subsequently entered into a Confidentiality Agreement so we that we may begin a dialogue regarding the various geological and technical aspects of our proposal.”
NTT acts as a liaison for Western companies who wish to do business with China-based entities in areas ranging from, but not limited to, EPC agreements, project financing and related structuring, joint ventures, commodity off-take agreements and the establishment of manufacturing facilities. NTT has served more than 1,400 international clients over the past 21 years. In consideration of NTT’s services, Sonoro will pay a fixed monthly cash fee which includes providing the Company with a representative office in China, support staff and translation services. Future China-based agreements secured by the Company because of NTT’s efforts may carry a success-fee obligation to be determined based on the applicable agreement terms.
The Company’s activities carried with the assistance of NTT will be directed by NTT’s co-founder Dr. Wei Qian, a former China State Council official (overseeing three Provinces in China). Dr. Qian has a PhD in Economics (University of Limerick, Ireland) and an MBA (Sir Charles Harvey Award - London School of Economics). In addition to its Suzhou, Jiangsu office, NTT has branch offices in Shenzhen, Chongqing, Guangzhou, Wuhan and Beijing.
To enable Sonoro to advance to this next critical step in its development, InProved Pte., which originally introduced and recommended NTT to Sonoro, has agreed to cancel its fiscal advisory agreement with the Company, announced by Sonoro on February 28, 2019. The Company would like to thank InProved and its founder Huan Koh for their assistance and efforts in getting Sonoro to this next promising phase of its development.
On behalf of the Board of SONORO METALS CORP.
Per:
John M. Darch
Chairman
For further information, please contact:Sonoro Metals Corp.
- Tel: (604) 632-1764Email: info@sonorometals.com
$750,000 private placement fully subscribed...
with promotion occurring in Germany and china this should begin
to edge upward toward $.50+...
the development of sonoro properties in mexico is proceding
in a very positive manner...
informative website...www.sonorometals.com
very small a/s and very small float...35m/22m
much potential here...imho
Sonoro Proposes $750,000 Private Placement Financing
9:00 AM ET, 06/17/2019 - GlobeNewswire
VANCOUVER, British Columbia, June 17, 2019 (GLOBE NEWSWIRE) -- Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP), (“Sonoro” and the “Company”), announces that the Company proposes to undertake a non-brokered private placement of up to 4,167,000 units (the “Units”) at a price of $0.18 per Unit, for gross proceeds of up to $750,060 (the “Offering”). Each Unit will consist of one common share and one-half of a common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of Sonoro at an exercise price of $0.27 during the one year following the closing of the Offering. The Company may pay a finder’s fee or commission on a portion of the Offering.
Directors, officers and insiders may participate in the Offering. Any such participation will be considered to be a “related-party transaction”, within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company intends to rely on the exemptions of the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1) of MI 61-101 in respect of such participation by related parties.
The net proceeds from the Offering will primarily be used by Sonoro to complete the current Phase Two drilling program and fund the launch of a Phase Three drilling program at the Cerro Caliche project in Sonora, Mexico. Funding will also be allocated for the commissioning of preliminary studies required to produce a NI 43-101 compliant study to assess the viability of the development of a heap leach operation at Cerro Caliche.
All securities issued in connection with the Offering will be subject to a hold period expiring four months and one day following the closing of the Offering. The Offering is subject to final acceptance by the TSX Venture Exchange.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.
On behalf of the Board of SONORO METALS CORP.
Per:
“Kenneth MacLeod”KENNETH MACLEODPresident & CEO
For further information, please contact:Sonoro Metals Corp. - Corporate Communications: Bill Campbell – Tel: (604) 565-5609 / Email: bill@sonorometals.com
SONORO PROPOSES $650,000 PRIVATE PLACEMENT FINANCING
VANCOUVER, Canada, March 18, 2019, Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP), (“Sonoro” and the “Company”), announces that the Company proposes to undertake a non-brokered private placement of up to 3,612,000 units (the “Units”) at a price of $0.18 per Unit, for gross proceeds of up to $650,160 (the “Offering”). Each Unit will consist of one common share and one-half of a common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of Sonoro at an exercise price of $0.27 during the one year following the closing of the Offering. The Company does not anticipate that it will be pay any finder’s fees or commissions in connection with the Offering.
Directors, officers and insiders may participate in the Offering. Any such participation will be considered to be a “related-party transaction”, within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company intends to rely on the exemptions of the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1) of MI 61-101 in respect of such participation by related parties.
The net proceeds from the Offering will primarily be used by the Company for continued exploration on its Cerro Caliche project in Sonora, Mexico, as well as for general working capital purposes. All securities issued in connection with the Offering will be subject to a hold period expiring four months and one day following the closing of the Offering. The Offering is subject to final acceptance by the TSX Venture Exchange.
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TSXV:SGO ~ OTCQB:SMOFF ~ FRA:23SP
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