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Sonoro Gold Reports Surface Sampling Materially Extends Oxide Gold Mineralized Zones & Announces Priority Targets for Fall 2021 Drill Campaign
9:00 AM ET, 07/20/2021 - GlobeNewswire
VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report assay results from surface sampling recently completed at the Company’s Cerro Caliche gold project, located in Sonora State, Mexico. The results confirm material extensions of several of the project’s oxide gold mineralized zones and demonstrate linear structural corridors of anomalous gold, silver, and base metal mineralization.
This ongoing surface sampling program will be part of the foundation for the upcoming drilling program designed to materially expand and categorize the project’s oxide gold mineralization.
The following maps shows the locations of the surface samples and mineralized corridors referenced in this news release.
A Media Snippet accompanying this announcement is available by clicking on the image or link below
https://sonorogold.com/wp-content/uploads/2021/07/Map-of-Surface-Samplings-at-Cerro-Caliche.pdf
Highlights:
Collected 1,292 soil and surface rock samples from several well-defined vein and gold mineralized, structural corridors.Surface sampling methods consist of continuous chip sampling perpendicular across measured veins and wall rocks.Confirmed 600-meter southern extension of the El Colorado - La Ventana Corridor; assay results returned 23.7 meters averaging 1.7 grams of gold per tonne (“g/t Au”), including 5.5 meters averaging 6.0 g/t Au; 8.0 meters averaging 0.6 g/t Au.Confirmed 750-meter southern extension of the Buena Suerte - San Quintin Corridor; assay results returned 52.6 meters averaging 0.2 g/t Au including 2.6 meters averaging 2.2 g/t Au; 8.0 meters averaging 0.8 g/t Au; 1.0 meters averaging 9.4 g/t Au.High silver content identified at La Magdalena from the northeastern La Magdelena - La Española corridor; assay results returned 1 meter averaging 1,230 g/t Ag with 6.6 g/t Au.
The following map shows two gold bearing northeastern corridors with high silver contents, a common character of Low Sulfidation mineralization at higher levels in the boiling zones.
A Media Snippet accompanying this announcement is available by clicking on the image or link below
https://sonorogold.com/wp-content/uploads/2021/07/Northeastern-Corridors.pdf
Sampling will continue to focus on near surface mineralized structures which outcrop from thick soil and alluvium and is associated with detailed geological mapping completed in preparation of the upcoming drilling program, scheduled to commence in the fall of 2021. To date, the Company has drilled and assayed results from over 34,500 meters of drilling, including a 24,221-meter Phase III drill program completed in the spring of 2021. When combined with historical data, total exploration at Cerro Caliche totals over 47,500 meters, 433 drill holes and 9,365 surface samples.
Drilling activities on the concession have been paused since May 2021 pending financing and to provide the exploration team sufficient time to ensure all data and assistance was available for the completion of two independent NI 43-101 technical reports, scheduled to be filed by mid-August 2021. As previously announced, the Company engaged Micon International Ltd. to prepare an updated Technical Report and D.E.N.M. Engineering Ltd. to prepare a Preliminary Economic Assessment (PEA).
These reports are expected to expand the resource size and upgrade the classification of Cerro Caliche’s identified mineralization and confirm if it is sufficient to support the Company’s proposed HLMO with an initial operating capacity of up to 15,000 tons per day (tpd).
Exploration at Cerro Caliche has identified a broadly mineralized low-sulphidation epithermal vein structure and the presence of multiple northwest trending gold mineralized zones along trend and near surface. As discussed in the Company’s revised Cerro Caliche Project Development Report (“PDR”) and announced in a related news release date May 26, 2021, the current exploration program was designed to test an 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. This is in addition to the estimated inferred resource of 11.5 million tonnes at an average grade of 0.495 g/t gold and 4.3 g/t as stated in the initial NI 43-101 Technical Report1 filed in July 2019.
The reader is cautioned that the potential tonnages and grades in the PDR are conceptual in nature, as at the time of the report’s issue there had been insufficient exploration to define a mineral resource and it was uncertain if further drilling would result in the target being delineated as a mineral resource.
With a limited amount of the property’s mapped gold mineralized zones having been drilled and assayed to date, the upcoming drilling program will strategically target a 750-meter zone along the southern extensions of the El Colorado - La Ventana and Buena Suerte - San Quintin corridors where extensive surface samplings and geological mapping suggests the potential for material expansion of the oxide gold mineralization.
Mel Herdrick, Sonoro’s VP of Exploration noted, “The sampling and mapping program is producing important new data that, when added to Sonoro’s database, significantly assists our ability to locate drill targets and prioritize our drilling, which is anticipated to resume this fall. Previous drilling intercepted gold mineralization in most holes, demonstrating a very good success rate, which I expect will continue in the mineralized zone corridors. I also expect that ongoing sampling at the higher ridge zones to the northeast will show a continuation of gold mineralization that has been previously defined, and as it does, it should lead to additions of mineralized material, especially at El Bellotoso, and El Desprecio, as well as La Española.”
Kenneth MacLeod, Sonoro’s President and CEO added, “The sampling data cited in this news release, together with the additional sampling awaiting assaying, will be instrumental in supplementing recommendations for future exploration to be outlined in the upcoming PEA, anticipated to be released in August. Sonoro is scheduling the next phase of drilling to commence this fall.”
John Darch Sonoro’s Chairman commented, “This sampling program and the highly encouraging results are one of the key components of management’s strategy to develop the conceptual heap leach mining operation and, if successful, to use the cash flow to fund our on-going drilling program and continue expanding already known gold resources and the proposed mine’s rate of production. Our efforts to date have tested barely 20% of the known mineralized zones and I look forward to reporting to our shareholders additional results from this program as well as our upcoming drilling program.”
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical Procedures Samples are collected as continuous chip samples by hand into plastic bags, GPS positions and rock descriptions noted, the bags are numbered using ALS-Chemex bar code number books, then sealed and taken to secure storage in Cucurpe village near the project.
Company personnel transport those bagged samples directly to the preparation laboratory of ALS- Chemex in Hermosillo, Sonora. At the preparation laboratory samples are logged into ALS-Chemex system using bar code labels, opened, then reduced in size through crushing, splitting and pulverization. About 200 grams of each sample are sent by ALS-Chemex to their Vancouver, Canada laboratory where samples are individually dissolved in aqua regia for multi-element ICP analysis, including silver. Thirty grams of each pulverized sample is split apart in that laboratory and undergoes a “Fire Assay” for gold content by reducing the fire assay to a concentrated button of material that is dissolved in acids and from the solution, the gold content is determined by atomic absorption. Quality control standards were inserted by the ALS-Chemex, Vancouver, B.C. laboratory.
EQUITY RESEARCH
The Swiss Research Group
this is from Equity Research July 4th, 2021 page 17
Sonoro Gold: As Building its Mine Gets
Closer, Its Shares Move Higher
Ivanhoe’s share price sprint, from less than
US $2 in 2020 to almost US $10 a year later,
is a classic example of what going into
production can do for a company’s share
price. We detailed a few months ago how
the shares of K92 Mining performed similarly
as it began producting gold.
Sonoro Gold Corp (TSX.V: SGO) is in the same sweet
spot as Ivanhoe was before it began its
share price run. In the next few weeks, It is
expected to disclose the economics of its
planned mining operation and though its
planned mine is considerably smaller, the
levitating effect of becoming a cash flowing
metals producer on its share price
should be no different, especially given
that the project’s internal rate of return is
apt to be a multiple of the Kamoa Kakula’s and
the payback on the Cerro Caliche’s capital
costs is likely to be measured in months rather
than years. Another more local example of what we
may expect in terms of share price performance
is Minera Alamos (TSX.V MAI). It has three
projects: its flagship, Santana, which has just
gone into production and two exploration
projects: the Cerro d’Oro, which has to date
outlined a 630,000 oz/Au resource averaging
0.41 g/t Au, and the La Fortuna, which has
a 300,000 ounce resource averaging around
3.5 g/t Au. Minera Alamos has 462 million shares
outstanding fully diluted, so nearly three
times Sonoro’s fully diluted number of shares.
Mineras Alamos fully diluted market capitalization
at $0.70 is CAD $323 million, compared to
Sonoro’s current fully diluted CAD $50 million.
EQUITY RESEARCH
The Swiss Research Group
this is from Equity Research July 4th, 2021 page 17
Sonoro Gold: As Building its Mine Gets
Closer, Its Shares Move Higher
Ivanhoe’s share price sprint, from less than
US $2 in 2020 to almost US $10 a year later,
is a classic example of what going into
production can do for a company’s share
price. We detailed a few months ago how
the shares of K92 Mining performed similarly
as it began producting gold.
Sonoro Gold Corp (TSX.V: SGO) is in the same sweet
spot as Ivanhoe was before it began its
share price run. In the next few weeks, It is
expected to disclose the economics of its
planned mining operation and though its
planned mine is considerably smaller, the
levitating effect of becoming a cash flowing
metals producer on its share price
should be no different, especially given
that the project’s internal rate of return is
apt to be a multiple of the Kamoa Kakula’s and
the payback on the Cerro Caliche’s capital
costs is likely to be measured in months rather
than years. Another more local example of what we
may expect in terms of share price performance
is Minera Alamos (TSX.V MAI). It has three
projects: its flagship, Santana, which has just
gone into production and two exploration
projects: the Cerro d’Oro, which has to date
outlined a 630,000 oz/Au resource averaging
0.41 g/t Au, and the La Fortuna, which has
a 300,000 ounce resource averaging around
3.5 g/t Au. Minera Alamos has 462 million shares
outstanding fully diluted, so nearly three
times Sonoro’s fully diluted number of shares.
Mineras Alamos fully diluted market capitalization
at $0.70 is CAD $323 million, compared to
Sonoro’s current fully diluted CAD $50 million.
The Perfect Storm
The GDX has surged 30% in the past six weeks, while the shares of little-known mine developer Sonoro Gold (SGO.V; SMOFF.OTC) have nearly doubled.
One prominent analyst just gave Sonoro a $2 share price target (and that assumes gold does not rise any further).
If gold rockets higher, Sonoro Gold could deliver massive profits…and make that $2 target just the beginning.
In 1991, a series of natural conditions occurred simultaneously to produce a hurricane so intense, America’s national weather service labelled it “The Perfect Storm.”
The storm and the Andrea Gail, a ship that it sank, become the subject of a book and movie by the same name.
Now we see the approach of a perfect storm of the financial kind, as a series of events appear set to occur simultaneously.
Inflation is accelerating as everything from microchip shortages to a lack of farm labor combine with massive increases in America’s money supply and government deficit spending.
The U.S. dollar has begun a multi-year bear market and as one fire is put out in Israel-Gaza, another much larger one — China versus the U.S. — threatens to ignite over Taiwan and the South China Sea.
A commodities super cycle is clearly underway; gold has broken out and is up $200 in the past six weeks.
Each of these events is reinforcing the profound effect of the other. And for those investors that are prepared, its impact has the potential to be exceptionally rewarding.
Ideally Positioned To Deliver Huge Gains
Sonoro Gold (SGO.V; SMOFF.OTC) is one way investors may prosper as these events unfold.
Sonoro expects to begin producing gold at its Cerro Caliche gold deposit as early as the first quarter of next year.
In short, the company’s transformation from a highly successful explorer to the ranks of high-growth gold producers is imminent.
The securing of project debt, followed by construction of its planned 15,000 tonne-per-day heap leach mining operation, is only months away. Building the mine is expected to take only around five months.
Bottom line: The timing for investors could not be better, as Sonoro looks set to start gold production just as gold is beginning a renewed and powerful move.
Consider that building a mine at the Cerro Caliche was originally conceived and assessed as likely viable when gold was less than $1,500.
...And that nearby mines with similar deposits, such as Argonaut Gold’s San Agustin Mine, are making record profits with half the gold grades Sonoro expects to mine. It is more than reasonable to expect the Cerro Caliche mine to be highly profitable too.
Simply put, Sonoro Gold offers investors a relatively low-risk opportunity to leverage the gold bull market — and the company’s recent share price rise gives some indication of this potential.
Consider that during the past two months gold is up 12%...while during the same period Sonoro’s shares have gained by 87.5%.
Sonoro Offers Leverage To Rising Gold Prices
Making the transition from explorer to developer, and ultimately gold producer, does not require a rising gold price to produce exceptional profits. But when gold does rise at the same time, it can multiply the profit potential.
Imaru Casanova at gold giant VanEck Investment Management estimates that an 11% increase in the gold price can translate into a 30% or more increase in cash flow for gold producers.
But small cap producers usually trade at three or four times cash flow. Given this, the leverage possibilities of a company like Sonoro Gold are obvious.
A Team That Knows How To Create Shareholder Wealth
The team that leads Sonoro has made fortunes for investors.
Take Sonoro’s VP of Exploration Mel Herdrick. Over his multi-decade career, he’s discovered no less than six major gold and copper deposits.
Hendrick’s work to develop the La Colorada and San Antonio deposits led to the takeover of Pediment Gold at almost 10 times its 2009 share price.
Sonoro’s VP of Operations, Jorge Diaz, is one of the original Glamis Gold Mine developers.
Glamis first started producing gold with its Picacho mine, a much smaller heap leach mine than what Sonoro is developing.
However, Glamis used the income wisely to acquire and develop mines...fueling an astounding growth rate...and was eventually taken over by Goldcorp for $8.6 billion.
Most recently, Diaz led the development of another major mining success — the giant Mulatos Mine, which has already produced more than two million ounces of gold.
On the heels of developing Mulatos, Diaz expects the Cerro Caliche to be his next major success, a tall order considering what he has already accomplished, and great news for Sonoro shareholders.
Big Upside With Relatively Little Risk
Sonoro’s team is set to hit the ground running following the delivery of its preliminary economic assessment (PEA) this July.
It is already in discussions regarding project finance, expects to start construction by September and, by early next year, be in production. Each of these milestones add to the likelihood of outsized shareholder profits.
Glamis Gold is a classic example of what going into production can mean to a company’s share price.
Despite its original mine’s small size (only 24,000 oz./year), its shares soared from C$0.80 to C$5.00 when it started production.
And after K92 Mining acquired a mothballed mine in Papua New Guinea from Barrick in 2016, until it started production it was basically an orphan. Its shares traded — when they traded, which was not very often — at around C$0.40.
K92’s shares currently trade around C$8.40, and it is one of the Toronto Stock Exchange’s best performers.
This is the kind of potential presented by Sonoro.
As Major Catalysts Approach, Time May Be Running Out
Sonoro has already completed a considerable amount of work to fast track Cerro Caliche’s development and is predicting exceptional economics.
As analysts crunch the data to compare Cerro Caliche to similar deposits in the area, the project’s exceptional potential is becoming increasingly apparent.
Sonoro’s recent record trading volume and rocketing share price may indicate that sophisticated investors have done their own calculations and concluded they should not risk paying a substantially higher price by waiting until Sonoro releases a PEA.
...The timing is critical, because things are now moving quickly: In the next two months, Sonoro will likely announce results from metallurgical studies, release an updated 43-101 resource estimate and issue that PEA, which will disclose economic parameters such as IRR, operating costs, cash flow and c…
After the resource estimate and PEA, the next catalysts will be the closing of the debt financing, the start of mine construction, and then the start of gold production in the first quarter of 2022.
A Future Takeover Target?
It is early days but, given the difficulty of finding mineable gold deposits and then putting them into production, the number of smaller gold producers is shrinking rapidly as larger companies buy them for their gold reserves.
Given that Sonoro management expects a material increase in Cerro Caliche’s existing 201,000-ounce resource, Sonoro is becoming increasingly attractive.
Management paused drilling in April when it estimated it had outlined enough gold to supply a 15,000- to 20,000-tonne-per-day operation for at least five years.
Two of Sonoro’s neighbors, Alio Gold and Premier Gold Mines, were taken over by larger gold producers during the past year. And going back further, Argonaut Gold acquired Mel Herdrick’s Pediment Gold.
As this trend continues, companies like Sonoro are likely to increase in value until they are eventually acquired.
Will it be bought out at a big premium like Herdrick’s Pediment Gold or will it grow first like Glamis Gold? Either way, it will be exciting!
News Release: SONORO GOLD COMPLETES PHASE 3 DRILL PROGRAM AND MOVES TOWARDS AN UPDATED N1 43-101 TECHNICAL REPORT AND NEW PEA FOR CERRO CALICHE
VANCOUVER, Canada, June 1, 2021 – Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report assay results from the final nine RC drill holes, completing Phase Three of its drilling program at the Cerro Caliche gold project, located in Sonora State, Mexico. As noted in news releases, dated April 5, 2021, and April 26, 2021, the Company extended drilling activities to investigate the potential merging of the Japoneses and Buena Suerte zones into a single body of shallow, oxide gold mineralization. Recent results indicate a coalescence of the two zones over a minimum length of 400 meters which may prove to have significant and positive economic implications for the Company’s proposed Heap Leach Mining Operation (HLMO).
News Release: SONORO GOLD COMPLETES PHASE 3 DRILL PROGRAM AND MOVES TOWARDS AN UPDATED N1 43-101 TECHNICAL REPORT AND NEW PEA FOR CERRO CALICHE
VANCOUVER, Canada, June 1, 2021 – Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report assay results from the final nine RC drill holes, completing Phase Three of its drilling program at the Cerro Caliche gold project, located in Sonora State, Mexico. As noted in news releases, dated April 5, 2021, and April 26, 2021, the Company extended drilling activities to investigate the potential merging of the Japoneses and Buena Suerte zones into a single body of shallow, oxide gold mineralization. Recent results indicate a coalescence of the two zones over a minimum length of 400 meters which may prove to have significant and positive economic implications for the Company’s proposed Heap Leach Mining Operation (HLMO).
have a look at this very Insightful interview with John Kaiser on @TalkDigitalNet... Why is Sonoro Gold Perking Up now?
SMOFF on OTC QB or SGO on TSX.V
Please have a look at this very Insightful interview with John Kaiser on @TalkDigitalNet... Why is Sonoro Gold Perking Up now?
SMOFF on OTC QB or SGO on TSX.V
SONORO GOLD CORP... MAY 2,2021
TSX.V: SGO
OTCQB: SMOFF
FRA: 23SP
WHY SONORO GOLD IS DISTINCTIVE IN THE JUNIOR GOLD MINING SECTOR
A LL THE ESSENTIAL COMPONENTS TO BE A SUCCESSFUL GOLD PRODUCER WITHIN 12 MONTHS
1. A diversified, proven and success - driven management and operations team with extensive
expertise in mining geology and engineering as well as in the discovery , delineation and
development of mineral deposits.
2. Directors and Officers of the Company ho ld over 18% of Issued and Outstanding shares and
participated for over 14% of the recent April 2021 CDN $3.11 million Private Placement. The
Company has a well - defined Business Plan and Execution Strategy to generate revenue by
early 2022 to fund further exploration and expand resources.
3. Drilling at Sonoro’s flagship property , the Cerro Caliche gold project, has identified a broadly
mineralized low - sulphidation epithermal vein structure and the presence of at least
18 northwest trending gold mineralized zones along trend and near surface.
4. An NI 43 - 101 technical report filed in June 2019 stated an estimated inferred resource (at a
0.25 g/t gold equivalent cut - off grade) of 11.5M tonnes at an average grade of 0.495 g/t gold
and 4.3 g/t silver amenable to open pit extraction methods.
5. An independent NI 43 - 101 compliant, updated Technical Report and Preliminary Economic
Assessment (PEA), scheduled to be filed July 2021, are expected to confirm viability and
sufficient resource to support a Heap Leach Mining Operation ( HLMO ) with a conceptual
capacity of up to 15,000 tonnes per day (tpd).
6. Metallurgical testing is currently underway with recent bottle roll tests confirming
mineralization is amenable to cyanide leaching with recoveries averaged at 80.3%.
7. Management anticipates the PEA will confirm annual gold production at 54,000 ounces per
year based on 15,000 tpd, with an aver age gold grade of 0.5 g/t and assumed rate of 72%
.
8. Over 47,500 meters have been drilled to date , including over 25,000 meters since September
2020 , confirming four major parallel northwest trending gold zones . Infill drilling along
adjacent boundaries of two of the four major zones has identified a potential convergence
into a single body of shallow, oxide gold mineralization.
9. If confirmed, a single larger gold mineralized zone may prove to have significant and positive
economic implications for the Company’s proposed Heap Leach Mining Operation (HLMO).
10. To minimize capital cost during the initial 18 to 24 months of operations, Sonoro will :
implement the following for the initial 18 - 24 months of operation :
a. Contract out mining activities such as excavation, material transport and processing .
b. Produce carbon instead of dore (reduces risk of theft) .
c. Use generators as power source s as opposed to transmission lines.
May 2, 2021
SONORO GOLD CORP... MAY 2,2021
TSX.V: SGO
OTCQB: SMOFF
FRA: 23SP
WHY SONORO GOLD IS DISTINCTIVE IN THE JUNIOR GOLD MINING SECTOR
A LL THE ESSENTIAL COMPONENTS TO BE A SUCCESSFUL GOLD PRODUCER WITHIN 12 MONTHS
1. A diversified, proven and success - driven management and operations team with extensive
expertise in mining geology and engineering as well as in the discovery , delineation and
development of mineral deposits.
2. Directors and Officers of the Company ho ld over 18% of Issued and Outstanding shares and
participated for over 14% of the recent April 2021 CDN $3.11 million Private Placement. The
Company has a well - defined Business Plan and Execution Strategy to generate revenue by
early 2022 to fund further exploration and expand resources.
3. Drilling at Sonoro's flagship property , the Cerro Caliche gold project, has identified a broadly
mineralized low - sulphidation epithermal vein structure and the presence of at least
18 northwest trending gold mineralized zones along trend and near surface.
4. An NI 43 - 101 technical report filed in June 2019 stated an estimated inferred resource (at a
0.25 g/t gold equivalent cut - off grade) of 11.5M tonnes at an average grade of 0.495 g/t gold
and 4.3 g/t silver amenable to open pit extraction methods.
5. A n independent NI 43 - 101 compliant, updated Technical Report and Preliminary Economic
Assessment (PEA), scheduled to be filed July 2021, are expected to confirm viability and
sufficient resource to support a Heap Leach Mining Operation ( HLMO ) with a conceptual
capacity of up to 15,000 tonnes per day (tpd).
6. Metallurgical testing is currently underway with recent bottle roll tests confirming
mineralization is amenable to cyanide leaching with recoveries averaged at 80.3%.
7. Management anticipates the PEA will confirm annual gold production at 54,000 ounces per
year based on 15,000 tpd, with an aver age gold grade of 0.5 g/t and assumed rate of 72%
.
8. Over 47,500 meters have been drilled to date , including over 25,000 meters since September
2020 , confirming four major parallel northwest trending gold zones . Infill drilling along
adjacent boundaries of two of the four major zones has identified a potential convergence
into a single body of shallow, oxide gold mineralization.
9. If confirmed, a single larger gold mineralized zone may prove to have significant and positive
economic implications for the Company’s proposed Heap Leach Mining Operation (HLMO).
10. To minimize capital cost during the initial 18 to 24 months of operations, Sonoro will :
implement the following for the initial 18 - 24 months of operation :
a. Contract out mining activities such as excavation, material transport and processing .
b. Produce carbon instead of dore (reduces risk of theft) .
c. Use generators as power source s as opposed to transmission lines.
May 2, 2021
VANCOUVER, Canada, April 20, 2021
Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce the closing of its oversubscribed non-brokered private placement of 17,283,586 units, at $0.18 per unit, for total gross proceeds of $3,111,045. The private placement was initially announced on March 29, 2021 for $2,000,000 (11,111,111 Units) and was increased, as announced on April 9, 2021, to $2,600,000 (14,444,444 Units), and increased again, as announced on April 13, 2021, to $3,000,000 (16,666,667 Units).
Each Unit consists of one Sonoro Common Share and one Share Purchase Warrant. Each warrant entitles the holder to purchase one additional Sonoro Common share for a period of two years from the closing date at an exercise price of $0.30 per share. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period ending August 21, 2021. The Offering has received conditional acceptance from the TSX Venture Exchange but remains subject to receipt of final approval from the TSX Venture Exchange.
In connection with the Offering, the Company entered into finder’s fee agreements with Haywood Securities Inc. (“Haywood”), Echelon Wealth Partners Inc. (“Echelon”), Couloir Capital Securities Ltd. (“Couloir”), Canaccord Genuity Corp. (“Canaccord”), and National Securities Corp. (“National Securities”), (collectively, the “Finders” and each, a “Finder”) pursuant to which the Company paid to each Finder:
at the election of the Finder, either a cash finder’s fee or Units equal to a maximum 7% of the gross proceeds raised from subscribers introduced to the Company by the Finder, and
non-transferable finder’s warrants (the “Finder’s Warrants”) equal in number to 7% of the gross proceeds raised from subscribers introduced to the Company by the Finder. Each Finder’s Warrant entitles the Finder to purchase one common share in the capital of the Company at a price of $0.30 for a period of two years following the closing of the Offering.
In total the company paid $26,406 in Finder’s fees, 9,722 in Finder’s units and 167,922 in non-transferable Finder’s Warrants.
Directors and officers of the Company participated in the Offering by subscribing for 2,449,999 Units, constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied on section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25% of the Company’s market capitalization.
The net proceeds from the Offering will be used principally to fund Sonoro’s ongoing development plans at its Cerro Caliche Gold Project located in Sonora, Mexico, including completion of metallurgical testing, preparation of a 43-101 resource update, a Preliminary Economic Assessment, in addition to property maintenance payments, and secondarily for corporate and general administrative expenses.
Sonoro’s President and CEO, Kenneth MacLeod stated, “In light of the determination of Sonoro’s management to maintain a strong percentage ownership in the Company, we are pleased to report that members of the senior executive team contributed to 14% of the private placement financing. In addition, all members of the technical and management teams have demonstrated their commitment to the Company’s exploration and development plans for the Cerro Caliche project.”
Sonoro’s Chairman John Darch added, “Since the completion of our $8 million financing in September 2020, exceptional drilling results support the Company’s conceptual plan to develop a heap leach mining operation (“HLMO”) having a capacity of between 15,000 to 20,000 tons per day. The reception to this current financing, which continued to be oversubscribed despite being increased in size twice, reflects investors' confidence in the Company’s plans. We expect that the funds raised will sustain our operations beyond the completion of a 43-101 resource update and a Preliminary Economic Assessment, both expected by this July. On behalf of the Sonoro executive team, I would like to emphasize our confidence that these independent reports will reflect both a material increase and upgrade in our current inferred resource[1], together with robust economics for the conceptual heap leach mining operation, which we anticipate will enable us to raise debt financing to construct the HLMO with the objective to commence production in early 2022."
Readers are cautioned that, until the Preliminary Economic Assessment's completion, no definitive conclusions can be made as to the technical or economic viability of the proposed HLPO.
[1] NI 43-101 Technical Report on the Cerro Caliche Property, July 26, 2019, Strickland, D., Sim, R.C. prepared for Sonoro Metals; 11,5 Mt at avg 0.5 g/t Au + 4.3 g/t Ag containing 200,000 oz at 0.545 g/t AuEq.
About Sonoro Gold Corp.
Sonoro Gold 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 MacLeod
President & CEO
For further information, please contact:
Sonoro Metals Corp. – Tel: (604) 632-1764
Email: info@sonorogold.com
no surprise
like your mantra...buy high, complain low...
hope something is learned from an amateur-hour mistake...
Sonoro Gold Announces Addition of $0.6 Million Overallotment Option to $2.0 Million Unit Private Placement
4:04 PM ET, 04/09/2021 - GlobeNewswire
“THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTIONTO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES”
VANCOUVER, British Columbia, April 09, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that, in response to strong investor demand, it is increasing its non-brokered private placement first announced on March 29 (the "Offering") by providing for an overallotment option of up to 30% (3,333,333 Units) over and above the 11,111,111 Units previously announced. The Offering price remains $0.18 per Unit, each comprised of one Sonoro Common share and one Common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro Common share for a period of two years from the closing at an exercise price of $0.30 per share. The Offering, if fully subscribed, will yield gross proceeds of $2,000,000, with the potential to add up to $600,000 of additional proceeds under the overallotment option.
The Company intends to pay finder’s fees as permitted under the policies of the TSX Venture Exchange in respect of Units placed with the assistance of registered securities dealers. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the closing date. The Offering, including the overallotment option, is subject to TSX Venture Exchange acceptance.
The net proceeds from the Offering will be used principally to fund Sonoro’s ongoing development plans at its Cerro Caliche Gold Project located in Sonora, Mexico and project property maintenance payments, and secondarily for corporate and general administrative expenses.
About Sonoro Gold Corp.Sonoro Gold 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 GOLD CORP.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:Sonoro Gold Corp. - Tel: (604) 632-1764Email: info@sonorogold.com
lol...
you have to get a chuckle out this guy...
if i sold 1 mil shares today, .0027, that i bought at .0001 for $100
dollars and make $2700...a 27 bagger he would just come back with
some stupid remark with lots of bold letters and bold yelling...or
he would comment on my math being off as i only make $2600...lol
pennys...you take ridiculous profit when you can...
actually...what it tells is simple profit...
if i have 100's of millions of shares acquired at .0001 or less
and can sell same at .003 to .005 and take hundreds of thousand in
profit...seems quite simple to me...even without wasting my time
making part of my post bold letters...
to all who want to take the time and read...
go to incapta.com and scroll down to IN THE NEWS and read
all the Financials and Press Releases and the 2020 10K released on 01/26/2021
and more
and to those that think they are intellectually superior...
all those stupid inquiries...the info/answers are found there...
IN THE NEWS
Financials & Press Releases
InCapta, Inc. Press Release (03/25/2021) (pdf)
Download
InCapta, Inc, Press Release (03/03/2021) (pdf)
Download
InCapta, Inc. Press Release (02/11/2021) (pdf)
Download
InCapta, Inc. Press Release (01/28/2021) (pdf)
Download
InCapta, Inc. Press Release (01/27/2021) (pdf)
Download
2020 10-K (01/26/2021) (pdf)
Download
InCapta, Inc. Press Release (01/26/2021) (pdf)
Download
2019 10-K (01/14/2020) (pdf)
Download
InCapta, Inc. Quarter 3 Financials 2019 (10/15/2019) (pdf)
Download
InCapta, Inc. Quarter 2 Financials 2019 (07/15/2019) (pdf)
Download
Sonoro Gold Announces $2.0 Million Unit Private Placement
9:00 AM ET, 03/29/2021 - GlobeNewswire
“THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES”
VANCOUVER, British Columbia, March 29, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that it will undertake a non-brokered private placement offering (the "Offering"), consisting of up to 11,111,111 units (the “Units”) at a price of C$0.18 per Unit, for gross proceeds of up to C$2,000,000. Each Unit will be composed of one Sonoro Common share and one Common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro Common share for a period of two years from the closing at an exercise price of $0.30 per share.
The Company intends to pay finder’s fees as permitted under the policies of the TSX Venture Exchange in respect of Units placed with the assistance of registered securities dealers. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the closing date. The Offering is subject to TSX Venture Exchange acceptance.
The net proceeds from the Offering will be used principally to fund Sonoro’s ongoing development plans at its Cerro Caliche Gold Project located in Sonora, Mexico and project property maintenance payments, and secondarily for corporate and general administrative expenses.
Kenneth MacLeod, President and CEO of Sonoro stated, “We are pleased to report that metallurgical testing by McClelland Laboratories has been progressing on schedule, with completion of the column leach tests anticipated by July, together with the completion of the updated 43-101 resource report and a Preliminary Economic Assessment (“PEA”) for the Cerro Caliche project. The private placement will provide sufficient capital to conclude the current phase of the drilling program and complete the independent technical reports and position the Company for the next phase of development as we advance toward a production decision at Cerro Caliche.”
About Sonoro Gold Corp.Sonoro Gold 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 GOLD CORP.
Per: “Kenneth MacLeod”Kenneth MacLeod President & CEO
For further information, please contact: Sonoro Gold Corp. - Tel: (604) 632-1764 Email: info@sonorogold.com
Sonoro Gold Announces $2.0 Million Unit Private Placement
9:00 AM ET, 03/29/2021 - GlobeNewswire
“THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES”
VANCOUVER, British Columbia, March 29, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that it will undertake a non-brokered private placement offering (the "Offering"), consisting of up to 11,111,111 units (the “Units”) at a price of C$0.18 per Unit, for gross proceeds of up to C$2,000,000. Each Unit will be composed of one Sonoro Common share and one Common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro Common share for a period of two years from the closing at an exercise price of $0.30 per share.
The Company intends to pay finder’s fees as permitted under the policies of the TSX Venture Exchange in respect of Units placed with the assistance of registered securities dealers. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the closing date. The Offering is subject to TSX Venture Exchange acceptance.
The net proceeds from the Offering will be used principally to fund Sonoro’s ongoing development plans at its Cerro Caliche Gold Project located in Sonora, Mexico and project property maintenance payments, and secondarily for corporate and general administrative expenses.
Kenneth MacLeod, President and CEO of Sonoro stated, “We are pleased to report that metallurgical testing by McClelland Laboratories has been progressing on schedule, with completion of the column leach tests anticipated by July, together with the completion of the updated 43-101 resource report and a Preliminary Economic Assessment (“PEA”) for the Cerro Caliche project. The private placement will provide sufficient capital to conclude the current phase of the drilling program and complete the independent technical reports and position the Company for the next phase of development as we advance toward a production decision at Cerro Caliche.”
About Sonoro Gold Corp.Sonoro Gold 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 GOLD CORP.
Per: “Kenneth MacLeod”Kenneth MacLeodPresident & CEO
For further information, please contact: Sonoro Gold Corp. - Tel: (604) 632-1764 Email: info@sonorogold.com
has anyone been able to convert the stocks that appeared in their
accts out of nowhere? does anyone no the source of same?
Sonoro Gold Corp. Announces High Grade Intercepts at Buena Suerte and Japoneses; Zones Close to Merging
9:00 AM ET, 03/22/2021 - GlobeNewswire
VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report assay results from its continuing drill program at the Company’s Cerro Caliche gold project in Sonora, Mexico. The new results reflect 20 RC drill holes, totaling 1,792 meters, from Buena Suerte and the adjacent Japoneses gold mineralized zones and highlight the following:
Spacing between the Buena Suerte and Japoneses zones has been reduced to approximately 100 meters in the northern extensions indicating the zones may merge with further infill drilling.Drill holes SCR-201, SCR-203, SCR-205 and SCR-207 at the 200-meter, high-grade north extension of Buena Suerte all cut high-grade intercepts.Drilling at the southwest extension of Buena Suerte identifies a 100-meter-long high-grade splay vein zone and widens the Buena Suerte zone toward the west.High-grade zone identified at the northwest extension of Japoneses, approximately 150 meters east of the 200-meter-long high-grade zone at Buena Suerte.
The map below shows the location of the 20 RC drill holes as well as the proximity between the Buena Suerte and Japoneses gold mineralized zones.
https://sonorogold.com/wp-content/uploads/2021/03/Plan-Map.png
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f38b71be-8108-4a96-90f3-15566c1bde8e
The image below illustrates a 1-kilometer cross section of the concession’s Central Zone.
https://sonorogold.com/wp-content/uploads/2021/03/Central-Zone-Cross-Section.png
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6bd440a8-718b-43ec-9739-fc9df4a9948e
Additional Longitudinal and Cross Sections can be found on the Cerro Caliche project page of the Company’s website.
Buena Suerte Gold Mineralization ZoneOn the southwest flank of the recently extended Buena Suerte zone, a new 100-meter-long high-grade vein, or splay, was identified with drill hole SCR-219 which intercepted 1.5 meters averaging 6.475 g/t Au within a larger interval of 16.76 meters averaging 1.427 g/t Au. Drill hole SCR-158, located 100 meters northwest of SCR-219, earlier reported a 6.10-meter intercept averaging 0.7 g/t Au, including 3.05 meters averaging 1.34 g/t Au. The northwest trending splay is located midway between the Buena Suerte vein and the El Quince vein 200 meters further west.
On the eastern flank of the Buena Suerte zone, drill hole SCR-201 intercepted 9.14 meters averaging 0.74 g/t Au. Within the zone’s main vein, drill hole SCR-209 intercepted 4.57 meters averaging 0.77 g/t Au and, 70 meters to the southeast, drill hole SRC-211 intercepted 3.05 meters averaging 4.766 g/t Au.
Highlights from Buena Suerte are as follows:
SCR-201 intercepted 9.14 m averaging 0.74 g/t Au; including 1.52 m averaging 2.096 g/t AuSCR-203 intercepted 6.09 m averaging 0.712 g/t Au; including 1.53 m averaging 2.04 g/t AuSCR-205 intercepted 9.14 m averaging 0.593 g/t Au; including 1.53 m averaging 1.528 g/t AuSCR-207 intercepted 3.05 m averaging 0.621 g/t Au; and 1.52 m averaging 1.292 g/t AuSCR-209 intercepted 4.57 m averaging 0.770 g/t Au; including 1.53 m averaging 1.786 g/t AuSCR-211 intercepted 3.05 m averaging 4.766 g/t AuSCR-219 intercepted 16.76 m averaging 1.427 g/t Au; including 1.52 m averaging 6.475 g/t Au
The image below illustrates a 900-meter longitudinal section of drill holes at Buena Suerte.
https://sonorogold.com/wp-content/uploads/2021/03/Buena-Suerte-Cross-Section.png
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bfad7e6e-b60b-46ab-bb4b-52cdb2c688cf
Japoneses Gold Mineralization ZoneOn the western flank of the Japoneses gold mineralized zone, directly adjacent to the eastern flank of the Buena Suerte gold mineralized zone, the distance between the two zones was reduced to approximately 100 meters with drill hole SCR-218 intercepting 22.86 meters averaging 0.505 g/t Au and drill hole SCR-220 intercepting 22.86 meters averaging 0.505 g/t Au. Future drilling within this area will continue to investigate surface exposures which include epithermal quartz veins in the highly silicified outcropping rock consisting of quartzite and rhyolitic intrusive.
Drilling results from the west-central flank of the Japoneses zone outline additional mineralized material with drill hole SCR-204 which intercepted 10.67 meters averaging 1.355 g/t Au, including 1.53 meters averaging 6.329 g/t Au. In the southern portion of Japoneses, infill drilling cut multiple veins, demonstrating an extensive shallow oxide gold mineralization with drill hole SCR-214 intercepting 18.29 meters averaging 0.577 g/t Au and drill hole SCR-215 intercepting 12.2 meters averaging 0.517 g/t Au.
Highlights from Japoneses are as follows:
SCR-204 intercepted 10.67 m averaging 1.355 g/t Au; including 1.53 m averaging 6.329 g/t AuSCR-214 intercepted 18.29 m averaging 0.577 g/t Au; including 1.52 m averaging 1.972 g/t AuSCR-215 intercepted 12.20 m averaging 0.517 g/t AuSCR-218 intercepted 22.86 m averaging 0.505 g/t Au; including 1.52 m averaging 1.952 g/t AuSCR-220 intercepted 22.86 m averaging 0.534 g/t Au; including 1.53 averaging 1.843 g/t Au
Kenneth MacLeod, President and CEO of Sonoro, stated, “With over 44,500 meters of drilling completed on Cerro Caliche to date, we are pleased to open the data room to geological and mining consultants, Micon International, for preparation of an updated NI 43-101 resource report. Additional assays for drilling to the end of March will be provided to Micon by mid-April for inclusion in the resource report, which is anticipated to be completed in mid-2021.”
John Darch, Chairman of Sonoro, added that, “The results continue to build a case for a substantial increase in our upcoming NI 43-101 resource update, as both zones look increasingly likely to coalesce into a single body of shallow, oxide gold mineralization which may justify a single larger pit. At the same time, the discovery of a high-grade gold vein near the Buena Suerte’s southwestern extent not only adds to the project’s resource potential, but it also illustrates the project’s potential for high-grade gold veins.”
Go to news release to see the below chart data in detail...
Assay Results from Buena Suerte and Japoneses Gold Mineralized Zones...
Sonoro Gold Corp. Announces High Grade Intercepts at Buena Suerte and Japoneses; Zones Close to Merging
9:00 AM ET, 03/22/2021 - GlobeNewswire
VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report assay results from its continuing drill program at the Company’s Cerro Caliche gold project in Sonora, Mexico. The new results reflect 20 RC drill holes, totaling 1,792 meters, from Buena Suerte and the adjacent Japoneses gold mineralized zones and highlight the following:
Spacing between the Buena Suerte and Japoneses zones has been reduced to approximately 100 meters in the northern extensions indicating the zones may merge with further infill drilling.Drill holes SCR-201, SCR-203, SCR-205 and SCR-207 at the 200-meter, high-grade north extension of Buena Suerte all cut high-grade intercepts.Drilling at the southwest extension of Buena Suerte identifies a 100-meter-long high-grade splay vein zone and widens the Buena Suerte zone toward the west.High-grade zone identified at the northwest extension of Japoneses, approximately 150 meters east of the 200-meter-long high-grade zone at Buena Suerte.
The map below shows the location of the 20 RC drill holes as well as the proximity between the Buena Suerte and Japoneses gold mineralized zones.
https://sonorogold.com/wp-content/uploads/2021/03/Plan-Map.png
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f38b71be-8108-4a96-90f3-15566c1bde8e
The image below illustrates a 1-kilometer cross section of the concession’s Central Zone.
https://sonorogold.com/wp-content/uploads/2021/03/Central-Zone-Cross-Section.png
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6bd440a8-718b-43ec-9739-fc9df4a9948e
Additional Longitudinal and Cross Sections can be found on the Cerro Caliche project page of the Company’s website.
Buena Suerte Gold Mineralization ZoneOn the southwest flank of the recently extended Buena Suerte zone, a new 100-meter-long high-grade vein, or splay, was identified with drill hole SCR-219 which intercepted 1.5 meters averaging 6.475 g/t Au within a larger interval of 16.76 meters averaging 1.427 g/t Au. Drill hole SCR-158, located 100 meters northwest of SCR-219, earlier reported a 6.10-meter intercept averaging 0.7 g/t Au, including 3.05 meters averaging 1.34 g/t Au. The northwest trending splay is located midway between the Buena Suerte vein and the El Quince vein 200 meters further west.
On the eastern flank of the Buena Suerte zone, drill hole SCR-201 intercepted 9.14 meters averaging 0.74 g/t Au. Within the zone’s main vein, drill hole SCR-209 intercepted 4.57 meters averaging 0.77 g/t Au and, 70 meters to the southeast, drill hole SRC-211 intercepted 3.05 meters averaging 4.766 g/t Au.
Highlights from Buena Suerte are as follows:
SCR-201 intercepted 9.14 m averaging 0.74 g/t Au; including 1.52 m averaging 2.096 g/t AuSCR-203 intercepted 6.09 m averaging 0.712 g/t Au; including 1.53 m averaging 2.04 g/t AuSCR-205 intercepted 9.14 m averaging 0.593 g/t Au; including 1.53 m averaging 1.528 g/t AuSCR-207 intercepted 3.05 m averaging 0.621 g/t Au; and 1.52 m averaging 1.292 g/t AuSCR-209 intercepted 4.57 m averaging 0.770 g/t Au; including 1.53 m averaging 1.786 g/t AuSCR-211 intercepted 3.05 m averaging 4.766 g/t AuSCR-219 intercepted 16.76 m averaging 1.427 g/t Au; including 1.52 m averaging 6.475 g/t Au
The image below illustrates a 900-meter longitudinal section of drill holes at Buena Suerte.
https://sonorogold.com/wp-content/uploads/2021/03/Buena-Suerte-Cross-Section.png
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bfad7e6e-b60b-46ab-bb4b-52cdb2c688cf
Japoneses Gold Mineralization ZoneOn the western flank of the Japoneses gold mineralized zone, directly adjacent to the eastern flank of the Buena Suerte gold mineralized zone, the distance between the two zones was reduced to approximately 100 meters with drill hole SCR-218 intercepting 22.86 meters averaging 0.505 g/t Au and drill hole SCR-220 intercepting 22.86 meters averaging 0.505 g/t Au. Future drilling within this area will continue to investigate surface exposures which include epithermal quartz veins in the highly silicified outcropping rock consisting of quartzite and rhyolitic intrusive.
Drilling results from the west-central flank of the Japoneses zone outline additional mineralized material with drill hole SCR-204 which intercepted 10.67 meters averaging 1.355 g/t Au, including 1.53 meters averaging 6.329 g/t Au. In the southern portion of Japoneses, infill drilling cut multiple veins, demonstrating an extensive shallow oxide gold mineralization with drill hole SCR-214 intercepting 18.29 meters averaging 0.577 g/t Au and drill hole SCR-215 intercepting 12.2 meters averaging 0.517 g/t Au.
Highlights from Japoneses are as follows:
SCR-204 intercepted 10.67 m averaging 1.355 g/t Au; including 1.53 m averaging 6.329 g/t AuSCR-214 intercepted 18.29 m averaging 0.577 g/t Au; including 1.52 m averaging 1.972 g/t AuSCR-215 intercepted 12.20 m averaging 0.517 g/t AuSCR-218 intercepted 22.86 m averaging 0.505 g/t Au; including 1.52 m averaging 1.952 g/t AuSCR-220 intercepted 22.86 m averaging 0.534 g/t Au; including 1.53 averaging 1.843 g/t Au
Kenneth MacLeod, President and CEO of Sonoro, stated, “With over 44,500 meters of drilling completed on Cerro Caliche to date, we are pleased to open the data room to geological and mining consultants, Micon International, for preparation of an updated NI 43-101 resource report. Additional assays for drilling to the end of March will be provided to Micon by mid-April for inclusion in the resource report, which is anticipated to be completed in mid-2021.”
John Darch, Chairman of Sonoro, added that, “The results continue to build a case for a substantial increase in our upcoming NI 43-101 resource update, as both zones look increasingly likely to coalesce into a single body of shallow, oxide gold mineralization which may justify a single larger pit. At the same time, the discovery of a high-grade gold vein near the Buena Suerte’s southwestern extent not only adds to the project’s resource potential, but it also illustrates the project’s potential for high-grade gold veins.”
Go to news release to see the below chart data in detail...
Assay Results from Buena Suerte and Japoneses Gold Mineralized Zones...
Sonoro Demonstrates 200-Meter-Long High-Grade Gold Zone at Buena Suerte
9:00 AM ET, 03/11/2021 - GlobeNewswire
VANCOUVER, British Columbia, March 11, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report the latest assay results from its ongoing drilling program at the Company’s Cerro Caliche gold project in Sonora, Mexico. The new results reflect 32 drill holes, totaling 2,830 meters and highlight the following:
Confirmation of a 200-meter-long, high-grade zone in the northwest extension of Buena SuerteHigh-grade intercepts at the northern extension of Buena Suerte including SCR-186 which intercepted 24.39 meters averaging 1.206 g/t Au, including 13.72 meters averaging 1.853 g/t AuFurther confirmation of continuous mineralization at the two kilometer long El Rincón - Veta de Oro - Abejas vein and stockwork gold mineralized zone.Further extension to the new Bellotoso gold mineralized zone through step-out drilling.
Map of Cerro Caliche Drill Holes Being Reported: https://www.globenewswire.com/NewsRoom/AttachmentNg/86f82d9c-584e-40e4-a2ea-33e73e26843d
Kenneth MacLeod, President & CEO of Sonoro, commented: “The current phase of the drill program is focused on expanding mineralized zones and upgrading the resource classification at the four main zones that Micon International will assess in the updated 43-101 technical report currently being prepared. At the same time, drilling is also addressing the potential pit optimization that might be achieved by combining the conceptual Japoneses and Buena Suerte open pits into one larger pit. The 43-101 technical report will incorporate all the drilling conducted to the end of March 2021 and is anticipated to be completed early in the third quarter of 2021.”
John Darch, Chairman of Sonoro, also noted: “The continued expansion of the Buena Suerte Gold Zone and the positive drilling results at El Rincón and the newly identified Bellotoso zone brings us closer to our goal of developing a major bulk-tonnage, oxide gold resource with the potential to provide a source of production and revenue in the years to come. At the same time drilling at the Japoneses zone is making an essential contribution to the project’s conceptual plan, to be addressed in a 2021 PEA, to develop a heap leach mine operation having an initial capacity of up to 20,000 tonnes per day.”
Buena Suerte shows a 200-meter-long High-grade Zone in the Northwest Extension Drilling at the northern extension of Buena Suerte demonstrated a 200-meter-long high-grade ore zone, suggesting the presence of an ore shoot, in the vicinity of holes SCR-109, SCR-186, SCR-148 and SCR-098. Hole SCR-186 is approximately 50-meters north of SCR-109 which, as previously reported, intercepted 45.72 meters averaging 0.97 g/t Au starting at three-meters below surface, including a high-grade section of 15.24 meters averaging 2.101 g/t Au.
Assay highlights include:
SCR-186 intercepted 24.39 m averaging 1.206 g/t Au, including 13.72 m averaging 1.853 g/t Au.SCR-187 intercepted 9.14 m averaging 0.522 g/t Au and 21.9 g/t Ag.SCR-191 intercepted 16.77 m averaging 0.451 g/t Au and 3.04 m averaging 0.409 g/t Au.SCR-194 intercepted 9.14 m averaging 0.466 g/t Au and 27.3 g/t Ag.
Drill hole SCR-195, the most northwesterly hole drilled to date at Buena Suerte, intercepted 6.09 meters averaging 0.466 g/t Au beginning at three-meters from surface. The drill hole is a 50-meter step-out from previous drilling and additional drilling is planned to test further continuity of the northwest extension.
Japoneses Zone DrillingAt Japoneses, drilling has identified numerous mineralized intersections along the full extent of the zone’s western boundary where future pit optimization may be achieved between the potential convergence of the conceptual Japoneses and Buena Suerte open pits.
Assay highlights include:
SCR-198 intercepted 19.8 19.81 m averaging 0.465 g/t Au from surface.SCR-197 intercepted 7.62 m averaging 0.513 g/t Au from 9.14 meters.SCR 188 intercepted 6.10 m averaging 0.560 g/t Au from surface.
Most notably, drill hole SCR-198 intercepted 19.81 meters averaging 0.465 g/t Au from surface, while approximately 50 meters to the south, drill hole SCR-197 intercepted 7.62 meters averaging 0.513 g/t Au from 9.14 meters below surface. Numerous additional RC drill holes have been completed along the western flank of Japoneses and pending assay results are expected to contribute further to the mineralization of the zone.
Mel Herdrick, VP of Exploration, commented, “Our drilling to define the 500-meter-long west side of Japoneses ridge is an important component of the upcoming PEA, as the most recent results increase the potential that we may combine the conceptual Japoneses and Buena Suerte pits into a single pit. It is very encouraging that drilling identified a 200-meter-long high-grade ore zone at the northern extension of Buena Suerte, while also expanding the size of the mineralized gold zones at Veta de Oro, El Rincon and Bellotoso zones.”
El Rincón, Veta De Oro, Bellotoso, and Gloria Exploration Drilling The El Rincón vein area was further tested with two RC drill holes. Drill hole SCR-174 cut an approximately 70-meter section of anomalous gold beginning at surface, where a 10.67-meter intercept averaging 0.308 g/t Au was cut between 45.72 meters to 56.39 meters. Drill hole SCR-175 cut a similarly broad anomalous interval and, beginning at 3 meters, intercepted 3.05 meters averaging 0.836 g/t Au. The drill holes are the furthest northwest step outs in the Rincon zone and are within the vein trend which remains open to the northwest following outcropping quartz veins.
At Veta de Oro, drill hole SCD-045 intercepted 5.1 meters averaging 0.367 g/t Au and 4.5 meters averaging 0.327 g/t Au. SCD-045 was completed to test the vein’s northwest extension along trend towards the El Rincon vein zone and is situated 250 meters southeast of drill hole SCD-021 at the El Rincon zone which intercepted 21 meters averaging 1.13 g/t AuEq. SCD-045 is a substantial step out, further confirming the continuity of the mineralization at the El Rincón – Veta de Oro – Abejas Zone. Sonoro’s geological team will be reviewing in detail the data set regarding vein characteristics, mineralogy, and metal zonation in relation to Cerro Caliche’s evolving low sulfidation epithermal model, to determine the best sections for future drilling of this promising area.
The Bellotoso vein zone drilling consisted of four core drill holes and two RC holes. The best interval from these holes is from core hole SCD-044 which intercepted 10.5 meters averaging 0.86 g/t AuEq. The other 3 core holes are located in the far northwest part of the Bellotoso vein trend and include SCD-047 which is a step-out to a secondary parallel vein zone. The Bellotoso strike is parallel to El Rincon and is separated in part by a rhyolitic dike that appears to be source of the gold bearing fluids that mineralized the local area.
At Gloria, five exploration holes were drilled approximately 500 meters northwest of Buena Suerte, in an area with historical artisanal gold workings. Drill hole SCR-179 intercepted 7.62 meters averaging 0.182 g/t Au and SCR-181 intercepted 1.52 meters averaging 1.47 g/t Au. The remaining holes contained minor intervals with low gold content without any significant gold bearing zones. The Gloria zone will be further assessed to determine its prospectively further to the northwest, where previous drilling demonstrated more consistent mineralization.
The low-grade intercepts indicate drilling cut deeper than the ‘ideal’ low sulfidation epithermal boiling zone. This observation is supported by low gold to silver ratios with low silver content as illustrated by the only anomalous interval from drill hole SCR-181 (from 22.86 to 24.38 meters) of 1.47 g/t Au and 0.15 g/t Ag illustrates. This mineralization is typical of deeper intersections at or just below the base of epithermal vein boiling zone.
Assay Results from Reverse Circulation Drilling
SEE PRESS RELEASE FOR HOLES COMPOSITES DETAILS...
Sonoro Demonstrates 200-Meter-Long High-Grade Gold Zone at Buena Suerte
9:00 AM ET, 03/11/2021 - GlobeNewswire
VANCOUVER, British Columbia, March 11, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report the latest assay results from its ongoing drilling program at the Company’s Cerro Caliche gold project in Sonora, Mexico. The new results reflect 32 drill holes, totaling 2,830 meters and highlight the following:
Confirmation of a 200-meter-long, high-grade zone in the northwest extension of Buena SuerteHigh-grade intercepts at the northern extension of Buena Suerte including SCR-186 which intercepted 24.39 meters averaging 1.206 g/t Au, including 13.72 meters averaging 1.853 g/t AuFurther confirmation of continuous mineralization at the two kilometer long El Rincón - Veta de Oro - Abejas vein and stockwork gold mineralized zone.Further extension to the new Bellotoso gold mineralized zone through step-out drilling.
Map of Cerro Caliche Drill Holes Being Reported: https://www.globenewswire.com/NewsRoom/AttachmentNg/86f82d9c-584e-40e4-a2ea-33e73e26843d
Kenneth MacLeod, President & CEO of Sonoro, commented: “The current phase of the drill program is focused on expanding mineralized zones and upgrading the resource classification at the four main zones that Micon International will assess in the updated 43-101 technical report currently being prepared. At the same time, drilling is also addressing the potential pit optimization that might be achieved by combining the conceptual Japoneses and Buena Suerte open pits into one larger pit. The 43-101 technical report will incorporate all the drilling conducted to the end of March 2021 and is anticipated to be completed early in the third quarter of 2021.”
John Darch, Chairman of Sonoro, also noted: “The continued expansion of the Buena Suerte Gold Zone and the positive drilling results at El Rincón and the newly identified Bellotoso zone brings us closer to our goal of developing a major bulk-tonnage, oxide gold resource with the potential to provide a source of production and revenue in the years to come. At the same time drilling at the Japoneses zone is making an essential contribution to the project’s conceptual plan, to be addressed in a 2021 PEA, to develop a heap leach mine operation having an initial capacity of up to 20,000 tonnes per day.”
Buena Suerte shows a 200-meter-long High-grade Zone in the Northwest Extension Drilling at the northern extension of Buena Suerte demonstrated a 200-meter-long high-grade ore zone, suggesting the presence of an ore shoot, in the vicinity of holes SCR-109, SCR-186, SCR-148 and SCR-098. Hole SCR-186 is approximately 50-meters north of SCR-109 which, as previously reported, intercepted 45.72 meters averaging 0.97 g/t Au starting at three-meters below surface, including a high-grade section of 15.24 meters averaging 2.101 g/t Au.
Assay highlights include:
SCR-186 intercepted 24.39 m averaging 1.206 g/t Au, including 13.72 m averaging 1.853 g/t Au.SCR-187 intercepted 9.14 m averaging 0.522 g/t Au and 21.9 g/t Ag.SCR-191 intercepted 16.77 m averaging 0.451 g/t Au and 3.04 m averaging 0.409 g/t Au.SCR-194 intercepted 9.14 m averaging 0.466 g/t Au and 27.3 g/t Ag.
Drill hole SCR-195, the most northwesterly hole drilled to date at Buena Suerte, intercepted 6.09 meters averaging 0.466 g/t Au beginning at three-meters from surface. The drill hole is a 50-meter step-out from previous drilling and additional drilling is planned to test further continuity of the northwest extension.
Japoneses Zone DrillingAt Japoneses, drilling has identified numerous mineralized intersections along the full extent of the zone’s western boundary where future pit optimization may be achieved between the potential convergence of the conceptual Japoneses and Buena Suerte open pits.
Assay highlights include:
SCR-198 intercepted 19.8 19.81 m averaging 0.465 g/t Au from surface.SCR-197 intercepted 7.62 m averaging 0.513 g/t Au from 9.14 meters.SCR 188 intercepted 6.10 m averaging 0.560 g/t Au from surface.
Most notably, drill hole SCR-198 intercepted 19.81 meters averaging 0.465 g/t Au from surface, while approximately 50 meters to the south, drill hole SCR-197 intercepted 7.62 meters averaging 0.513 g/t Au from 9.14 meters below surface. Numerous additional RC drill holes have been completed along the western flank of Japoneses and pending assay results are expected to contribute further to the mineralization of the zone.
Mel Herdrick, VP of Exploration, commented, “Our drilling to define the 500-meter-long west side of Japoneses ridge is an important component of the upcoming PEA, as the most recent results increase the potential that we may combine the conceptual Japoneses and Buena Suerte pits into a single pit. It is very encouraging that drilling identified a 200-meter-long high-grade ore zone at the northern extension of Buena Suerte, while also expanding the size of the mineralized gold zones at Veta de Oro, El Rincon and Bellotoso zones.”
El Rincón, Veta De Oro, Bellotoso, and Gloria Exploration Drilling The El Rincón vein area was further tested with two RC drill holes. Drill hole SCR-174 cut an approximately 70-meter section of anomalous gold beginning at surface, where a 10.67-meter intercept averaging 0.308 g/t Au was cut between 45.72 meters to 56.39 meters. Drill hole SCR-175 cut a similarly broad anomalous interval and, beginning at 3 meters, intercepted 3.05 meters averaging 0.836 g/t Au. The drill holes are the furthest northwest step outs in the Rincon zone and are within the vein trend which remains open to the northwest following outcropping quartz veins.
At Veta de Oro, drill hole SCD-045 intercepted 5.1 meters averaging 0.367 g/t Au and 4.5 meters averaging 0.327 g/t Au. SCD-045 was completed to test the vein’s northwest extension along trend towards the El Rincon vein zone and is situated 250 meters southeast of drill hole SCD-021 at the El Rincon zone which intercepted 21 meters averaging 1.13 g/t AuEq. SCD-045 is a substantial step out, further confirming the continuity of the mineralization at the El Rincón – Veta de Oro – Abejas Zone. Sonoro’s geological team will be reviewing in detail the data set regarding vein characteristics, mineralogy, and metal zonation in relation to Cerro Caliche’s evolving low sulfidation epithermal model, to determine the best sections for future drilling of this promising area.
The Bellotoso vein zone drilling consisted of four core drill holes and two RC holes. The best interval from these holes is from core hole SCD-044 which intercepted 10.5 meters averaging 0.86 g/t AuEq. The other 3 core holes are located in the far northwest part of the Bellotoso vein trend and include SCD-047 which is a step-out to a secondary parallel vein zone. The Bellotoso strike is parallel to El Rincon and is separated in part by a rhyolitic dike that appears to be source of the gold bearing fluids that mineralized the local area.
At Gloria, five exploration holes were drilled approximately 500 meters northwest of Buena Suerte, in an area with historical artisanal gold workings. Drill hole SCR-179 intercepted 7.62 meters averaging 0.182 g/t Au and SCR-181 intercepted 1.52 meters averaging 1.47 g/t Au. The remaining holes contained minor intervals with low gold content without any significant gold bearing zones. The Gloria zone will be further assessed to determine its prospectively further to the northwest, where previous drilling demonstrated more consistent mineralization.
The low-grade intercepts indicate drilling cut deeper than the ‘ideal’ low sulfidation epithermal boiling zone. This observation is supported by low gold to silver ratios with low silver content as illustrated by the only anomalous interval from drill hole SCR-181 (from 22.86 to 24.38 meters) of 1.47 g/t Au and 0.15 g/t Ag illustrates. This mineralization is typical of deeper intersections at or just below the base of epithermal vein boiling zone.
Assay Results from Reverse Circulation Drilling
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Sonoro Gold Corp. Reports Bottle Roll Tests of Cerro Caliche Mineralization Return Average Recoveries of 80.3% for Gold
9:00 AM ET, 03/03/2021 - GlobeNewswire
VANCOUVER, British Columbia, March 03, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) “Sonoro” or the “Company” is pleased to report the bottle roll results from the Company’s Cerro Caliche property in Sonora, Mexico. The samples tested were from four specific mineralized zones: Japoneses, Cuervos, El Colorado/Cabeza Blanca and Buena Suerte, and included associated composites. The testing was conducted at McClelland Laboratories, Inc. in Sparks, Nevada as part of a detailed scope of work consisting of 43 bottle roll tests over 96-hours at a coarse sizing of 80% - 1.7 mm feed size. Subsequent leach recoveries averaged 80.3% for gold and 27.2% for silver. Sodium cyanide consumption rates averaged 0.20 kg/t and lime addition averaged 2.1 kg/t for the bottle roll tests at varying feed grades. These recoveries are similar in all structures and domains while cyanide consumption, which averaged 0.2-0.3 kg/t, together with the amount of lime required for pH control (approximately 2 kg/t) are well within acceptable levels.
The leaching profile indicated a fast recovery over the 24-hours for gold, with a slower profile for silver as expected. Variability is as shown in the following graphs supplied by McClelland Laboratories for the specific zones and composites.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/da6b5c99-9302-4323-9f8b-ef942c41e6b4https://www.globenewswire.com/NewsRoom/AttachmentNg/ff32ff19-dc0a-40d7-99b5-71d19fdfd815
The samples tested were from over 5,500 kilograms of mineralized material taken from ten 85-mm diameter PQ core holes which were drilled to depths ranging from 25 to 140 meters. The balance of the mineralized material is being used for the column leach tests at McClelland Laboratories.
Drilling at Cerro Caliche has shown that the mineralization throughout the various zones is oxidized to the full extent of all the drill holes. Bottle roll test results verify previous observations that mineralization characteristics of near-surface oxidized drill cuttings were similar to the deeper oxidized mineralization.
The map below shows the locations of the PQ core drill holes.
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fc9a7785-ac22-4fc1-9f17-49f037559855
Sonoro’s Vice President Operations, Jorge Diaz, stated, “We are pleased with these results as it shows the mineralization is amenable to cyanide leaching and provides good recoverability at a coarse mesh bottle roll of 1.7mm. We are also encouraged by the fact that these bottle roll tests, which were conducted on various ore types and across various zones within the property, demonstrate similar positive metallurgical recoveries across the entire resource area.”
Sonoro’s President and CEO, Kenneth MacLeod, added, “The successful completion of these tests is an important
advancement of the Cerro Caliche project and will contribute towards the completion of the NI 43-101 P.E.A. that is expected to be released during Q3-2021. The results validate the projected 72% recovery rate used in the Company’s July 26, 2019 NI 43-101 Technical Report1 which provided the project’s initial mineral resource estimate.”
As previously planned, based on the bottle roll composites, the column test work has now commenced at McClelland Laboratories. The column testing consists of 17 columns on 9 mineralized zones and 8 composites on 2 crush sizes of 2-inch to 0.5-inch feed sizes. The Company expects these column tests to run for up to 90 days and will report the results as they become available.
Sonoro’s Chairman, John Darch, concluded, “The importance of this independent confirmation of the gold recoveries which now form the basis of our assessment of a 20,000 tpd heap leach mining operation cannot be understated as they are a critical milestone with regard to the project’s advancement. That these bottle roll test results are very much in line with management’s assumed recoveries speak volumes as to the acumen, professionalism and best-in-class practices employed by the Sonoro team.”
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical ProceduresThe PQ drill cores for metallurgical testing were drilled to normal industry standards, with the cores sequentially placed in 4-row plastic core boxes, then kept in secure storage and packed onto wooden pallets prior to shipping to McClelland Laboratories by DHL.
No QA/QC issues were noted with the results received from the laboratory. McClelland Laboratories, Inc. maintains accreditation with ISO/IEC Standard 17025:2017, for fields of testing that include the fire assay and solution analyses used for the current metallurgical testing program.
Geologic DescriptionCerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district include variants of epithermal low sulfidation veins and related mineralized dikes and associated volcanic domes. Local altered felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.
Host rocks include Jurassic-Cretaceous meta-sedimentary rock units including argillite, shale, quartzite, limestone, quartz pebble conglomerate and andesite. Younger intrusive rock consisting of medium coarse-grained granodiorite-granite is present in the westerly parts of the concessions near the historic Cabeza Blanca Mine. It is apparent that veining cuts and pervasively alters the intrusive stock. Rhyolite occurs in irregular bodies distributed in higher elevations in the northerly part of the concession, including the Rincon area, where it occurs as flows, sills, dikes and rhyolite domes. Part of the rhyolite is mineralized and appears to be related to epithermal gold mineralization throughout the property.
Qualified Person StatementStephen Kenwood, P.Geo., a Director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold mineralization in the concessions held by the Company.
Sonoro Gold Corp. Reports Bottle Roll Tests of Cerro Caliche Mineralization Return Average Recoveries of 80.3% for Gold
9:00 AM ET, 03/03/2021 - GlobeNewswire
VANCOUVER, British Columbia, March 03, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) “Sonoro” or the “Company” is pleased to report the bottle roll results from the Company’s Cerro Caliche property in Sonora, Mexico. The samples tested were from four specific mineralized zones: Japoneses, Cuervos, El Colorado/Cabeza Blanca and Buena Suerte, and included associated composites. The testing was conducted at McClelland Laboratories, Inc. in Sparks, Nevada as part of a detailed scope of work consisting of 43 bottle roll tests over 96-hours at a coarse sizing of 80% - 1.7 mm feed size. Subsequent leach recoveries averaged 80.3% for gold and 27.2% for silver. Sodium cyanide consumption rates averaged 0.20 kg/t and lime addition averaged 2.1 kg/t for the bottle roll tests at varying feed grades. These recoveries are similar in all structures and domains while cyanide consumption, which averaged 0.2-0.3 kg/t, together with the amount of lime required for pH control (approximately 2 kg/t) are well within acceptable levels.
The leaching profile indicated a fast recovery over the 24-hours for gold, with a slower profile for silver as expected. Variability is as shown in the following graphs supplied by McClelland Laboratories for the specific zones and composites.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/da6b5c99-9302-4323-9f8b-ef942c41e6b4https://www.globenewswire.com/NewsRoom/AttachmentNg/ff32ff19-dc0a-40d7-99b5-71d19fdfd815
The samples tested were from over 5,500 kilograms of mineralized material taken from ten 85-mm diameter PQ core holes which were drilled to depths ranging from 25 to 140 meters. The balance of the mineralized material is being used for the column leach tests at McClelland Laboratories.
Drilling at Cerro Caliche has shown that the mineralization throughout the various zones is oxidized to the full extent of all the drill holes. Bottle roll test results verify previous observations that mineralization characteristics of near-surface oxidized drill cuttings were similar to the deeper oxidized mineralization.
The map below shows the locations of the PQ core drill holes.
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fc9a7785-ac22-4fc1-9f17-49f037559855
Sonoro’s Vice President Operations, Jorge Diaz, stated, “We are pleased with these results as it shows the mineralization is amenable to cyanide leaching and provides good recoverability at a coarse mesh bottle roll of 1.7mm. We are also encouraged by the fact that these bottle roll tests, which were conducted on various ore types and across various zones within the property, demonstrate similar positive metallurgical recoveries across the entire resource area.”
Sonoro’s President and CEO, Kenneth MacLeod, added, “The successful completion of these tests is an important
advancement of the Cerro Caliche project and will contribute towards the completion of the NI 43-101 P.E.A. that is expected to be released during Q3-2021. The results validate the projected 72% recovery rate used in the Company’s July 26, 2019 NI 43-101 Technical Report1 which provided the project’s initial mineral resource estimate.”
As previously planned, based on the bottle roll composites, the column test work has now commenced at McClelland Laboratories. The column testing consists of 17 columns on 9 mineralized zones and 8 composites on 2 crush sizes of 2-inch to 0.5-inch feed sizes. The Company expects these column tests to run for up to 90 days and will report the results as they become available.
Sonoro’s Chairman, John Darch, concluded, “The importance of this independent confirmation of the gold recoveries which now form the basis of our assessment of a 20,000 tpd heap leach mining operation cannot be understated as they are a critical milestone with regard to the project’s advancement. That these bottle roll test results are very much in line with management’s assumed recoveries speak volumes as to the acumen, professionalism and best-in-class practices employed by the Sonoro team.”
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical ProceduresThe PQ drill cores for metallurgical testing were drilled to normal industry standards, with the cores sequentially placed in 4-row plastic core boxes, then kept in secure storage and packed onto wooden pallets prior to shipping to McClelland Laboratories by DHL.
No QA/QC issues were noted with the results received from the laboratory. McClelland Laboratories, Inc. maintains accreditation with ISO/IEC Standard 17025:2017, for fields of testing that include the fire assay and solution analyses used for the current metallurgical testing program.
Geologic DescriptionCerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district include variants of epithermal low sulfidation veins and related mineralized dikes and associated volcanic domes. Local altered felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.
Host rocks include Jurassic-Cretaceous meta-sedimentary rock units including argillite, shale, quartzite, limestone, quartz pebble conglomerate and andesite. Younger intrusive rock consisting of medium coarse-grained granodiorite-granite is present in the westerly parts of the concessions near the historic Cabeza Blanca Mine. It is apparent that veining cuts and pervasively alters the intrusive stock. Rhyolite occurs in irregular bodies distributed in higher elevations in the northerly part of the concession, including the Rincon area, where it occurs as flows, sills, dikes and rhyolite domes. Part of the rhyolite is mineralized and appears to be related to epithermal gold mineralization throughout the property.
Qualified Person StatementStephen Kenwood, P.Geo., a Director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold mineralization in the concessions held by the Company.
Sonoro Gold Corp. Drilling Extends Buena Suerte Zone and Confirms New Bellotoso Gold Mineralized Zone
9:00 AM ET, 02/16/2021 - GlobeNewswire
VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report the latest assay results from its ongoing drilling program at the Company’s Cerro Caliche gold project in Sonora, Mexico. The new results reflect 24 drill holes, totaling 2,591 meters and highlight the following:
Significant increase of strike length at the Buena Suerte gold mineralized zone to 900 meters.High-grade intercepts at the newly identified southern extension at Buena Suerte including SCR-159 which intercepted 3.05 meters averaging 6.839 g/t Au.Continuous mineralization confirmed at the two kilometers long El Rincón - Veta de Oro - Abejas vein and stockwork gold mineralized zone.Identification of the new Bellotoso gold mineralized zone with an initial strike length of 1.2 kilometers.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
Mel Herdrick, Sonoro’s VP of Exploration, commented: “Thereported intervals show that where new zones are being drill tested, they demonstrate positive results with significant intervals of gold mineralization. We are currently drilling to define the 500-meter-long west side of Japoneses ridge and also drilling up to an additional 19 holes at Buena Suerte to increase the mineralization definition before we resume drilling in the Rincon and Bellotoso, areas in March.”
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Sonoro Gold Corp. Drilling Extends Buena Suerte Zone and Confirms New Bellotoso Gold Mineralized Zone
9:00 AM ET, 02/16/2021 - GlobeNewswire
VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report the latest assay results from its ongoing drilling program at the Company’s Cerro Caliche gold project in Sonora, Mexico. The new results reflect 24 drill holes, totaling 2,591 meters and highlight the following:
Significant increase of strike length at the Buena Suerte gold mineralized zone to 900 meters.High-grade intercepts at the newly identified southern extension at Buena Suerte including SCR-159 which intercepted 3.05 meters averaging 6.839 g/t Au.Continuous mineralization confirmed at the two kilometers long El Rincón - Veta de Oro - Abejas vein and stockwork gold mineralized zone.Identification of the new Bellotoso gold mineralized zone with an initial strike length of 1.2 kilometers.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
Mel Herdrick, Sonoro’s VP of Exploration, commented: “Thereported intervals show that where new zones are being drill tested, they demonstrate positive results with significant intervals of gold mineralization. We are currently drilling to define the 500-meter-long west side of Japoneses ridge and also drilling up to an additional 19 holes at Buena Suerte to increase the mineralization definition before we resume drilling in the Rincon and Bellotoso, areas in March.”
El Rincón - Veta de Oro and Bellotoso Assay Results
Cerro Caliche Project, holes composites with cutoff 0.15 Au g/t
Hole Target From To Interval Au Ag AuEq
meters g/t g/t g/t
SCD-036 VETA DE ORO 89.00 90.00 1.00 0.536 4.1 0.595
SCD-037 EL BELLOTOSO 39.20 43.25 4.05 0.333 7.8 0.444
and 52.00 61.00 9.00 0.215 2.1 0.244
and 74.10 80.10 6.00 0.286 1.3 0.305
and 96.00 98.00 2.00 1.384 28.4 1.789
includes 96.00 97.00 1.00 2.601 47.6 3.281
SCD-038 VETA DE ORO 51.40 55.10 3.70 0.431 33.5 0.909
SCD-039 EL BELLOTOSO 14.10 16.30 2.20 1.661 39.6 2.227
includes 15.10 16.30 1.20 2.800 59.9 3.656
and 40.00 44.90 4.90 0.407 2.6 0.444
SCD-040 EL BELLOTOSO 25.80 36.15 10.35 0.300 0.5 0.307
and 114.00 127.15 13.15 0.249 1.1 0.265
SCD-041 EL BELLOTOSO 37.50 46.50 9.00 0.310 10.1 0.453
and 52.40 53.30 0.90 1.418 20.5 1.711
and 61.30 64.80 3.50 0.776 14.6 0.985
includes 62.30 63.30 1.00 1.362 29.5 1.783
SCD-042 EL BELLOTOSO 22.00 24.40 2.40 0.615 43.1 1.230
and 58.20 63.10 4.90 0.239 1.1 0.255
SCD-043 EL BELLOTOSO 13.90 16.90 3.00 1.454 11.5 1.617
and 24.60 38.70 14.10 0.390 3.6 0.441
and 46.90 62.70 15.80 0.383 2.2 0.414
Gloria ZoneThe Gloria vein trend, located over one kilometer northwest of the Japoneses zone, was drill tested with holes SCR-169 through SCR-173. These five drill holes cut the targeted vein zone, with only SCR-10 containing a reportable interval of 12.19 meters averaging 0.331 g/t Au or 0.408 g/t AuEq. The remaining holes contained only minor intervals with low gold content without any significant gold bearing zones. Drilling by Sonoro during 2018 demonstrated multiple lower-grade intercepts in four drill holes along trend northwest of the current drilling, with the most notable being SCR-053 which reported 1.52 meters grading 0.676 g/t Au (see Sonoro news release dated April 29, 2019). The Gloria zone will be further assessed to determine the prospect for additional drilling along trend to the northwest.
Drill collar locations, azimuths and dips for the drill holes included in this release are provided in the table below.
Cerro Caliche Project, holes composites with cutoff 0.15 Au g/t
Hole Target From To Interval Au Ag AuEq
meters g/t g/t g/t
SCR-158 BUENA SUERTE 53.34 59.44 6.10 0.731 18.2 0.992
includes 56.39 59.44 3.05 1.354 26.7 1.735
and 62.48 67.06 4.58 0.304 6.1 0.393
and 86.87 89.92 3.05 0.538 0.3 0.543
SCR-159 BUENA SUERTE 19.81 27.43 7.62 3.088 7.3 3.192
includes 19.81 22.86 3.05 6.839 10.5 6.989
and 30.48 33.53 3.05 0.981 6.0 1.067
includes 32.00 33.53 1.53 1.608 9.7 1.747
SCR-160 BUENA SUERTE 0.00 4.57 4.57 0.754 0.9 0.767
includes 1.52 3.05 1.53 1.769 1.4 1.789
and 9.14 16.76 7.62 0.202 0.9 0.215
and 19.81 25.91 6.10 0.785 1.0 0.799
Cerro Caliche Project, holes composites with cutoff 0.15 Au g/t
Hole Target From To Interval Au Ag AuEq
meters g/t g/t g/t
SCR-161 BUENA SUERTE 35.05 38.10 3.05 0.403 0.3 0.408
and 74.68 77.72 3.04 1.150 1.2 1.167
includes 74.68 76.20 1.52 2.110 1.5 2.131
and 91.44 94.49 3.05 0.571 2.1 0.602
SCR-162 BUENA SUERTE 50.29 53.34 3.05 0.214 2.2 0.245
and 73.15 76.20 3.05 0.235 1.0 0.249
SCR-163 BUENA SUERTE 25.91 27.43 1.52 0.333 0.2 0.335
SCR-164 BUENA SUERTE 0.00 12.19 12.19 0.260 2.5 0.296
and 15.24 33.53 18.29 0.240 7.9 0.353
and 57.91 60.96 3.05 0.481 1.6 0.503
and 67.06 70.10 3.04 0.204 2.8 0.244
and 83.82 86.87 3.05 0.206 9.0 0.334
SCR-165 BUENA SUERTE 0.00 3.05 3.05 0.263 1.9 0.290
and 6.10 10.67 4.57 0.360 1.4 0.380
and 38.10 41.15 3.05 0.765 0.7 0.776
SCR-166 BUENA SUERTE 39.62 41.15 1.53 0.756 0.3 0.760
SCR-167 BUENA SUERTE 65.53 68.58 3.05 0.787 0.5 0.794
and 103.63 106.68 3.05 2.325 1.7 2.348
SCR-168 BUENA SUERTE 12.19 15.24 3.05 0.798 3.3 0.846
and 51.82 56.39 4.57 0.492 0.5 0.499
and 64.01 70.10 6.09 0.462 0.8 0.473
Continuous Mineralization at El Rincón - Veta de Oro - Abejas ZoneBetween El Rincón and Veta de Oro, infill drill holes SCD-036 and SCD-037 intersected narrow gold mineralized intervals confirming a one-kilometer-long gold mineralized zone connecting the 250-meter-long El Rincón zone with the 500-meter-long Veta de Oro vein system. The zone extends further southeast to the 300-meter-long Abejas stockwork zone and may extend another 500 meters southeast to include the Chinos Altos historic mine area. Future drilling will investigate this untested area.
Map of Cerro Caliche Drill Holes Being Reported
Kenneth MacLeod, President & CEO of Sonoro, commented: “Our strategy of infill and expansion drilling in our defined gold mineralized zones, together with strategically located scout holes in prospective new zones, is proving to be very successful. The addition of Bellotoso to our inventory of mineralized zones and the prospect of additional zones in parallel with Bellotoso, suggests that the mostly unexplored northeast region of Cerro Caliche may develop into a very significant exploration target.”
John Darch, Chairman of Sonoro, also noted: “The continued material expansion of the Buena Suerte Gold Zone and the positive drilling results at El Rincón and the newly identified Bellotoso zone not only brings us closer to our goal of developing a major bulk-tonnage, oxide gold resource to support both the conceptual 20,000 tonnes per day target capacity being addressed by our planned preliminary economic assessment, but also the potential for gold production growth in the years to come.”
Buena Suerte Zone Extended to the South and Southeast At Buena Suerte, results extend the zone to a total length of approximately 900 meters, suggesting a material contribution to Cerro Caliche’s growing inventory of drilling-defined potentially bulk mineable oxide gold mineralization. Drilling extended the vein zone to the southeast by approximately 300 meters along strike, with additional south-trending vein structures expanding the cross-section of the zone approximately 300 meters in the southern extension. Assay highlights include:
SCR-159 intercepted 7.62 m averaging 3.088 g/t Au, including 3.05 m averaging 6.839 g/t Au.SCR-158 intercepted 6.10 m averaging 0.731 g/t Au, including 3.05 m averaging 1.354 g/t Au.SCR-160 intercepted 6.10 m averaging 0.785 g/t Au, and 1.53 m averaging 1.769 g/t Au.SCR-167 intercepted 3.05 m averaging 2.325 g/t Au, and 3.05 m averaging 0.787 g/t Au.
Drill hole SCR-159 is located approximately 60 meters southeast of the previously reported SCR-143 which intercepted 12.19 meters averaging 0.687 g/t Au, including 1.52 meters averaging 1.741 g/t Au. Approximately 100 meters to the west of the main Buena Suerte vein structure, drill hole SCR-158 targeted a separate parallel vein zone. Drill hole SCR-164 extends the parallel running vein approximately 120 meters to the southeast to nearly intersect the main zone where drill hole SCR-168 cut several intercepts with gold mineralization, including 3.05 meters averaging 0.798 g/t Au, and 6.09 meters averaging 0.462 g/t Au.
El Rincón remains open along strike to the northwest following outcropping quartz veins and infill drilling focused on linear zones of disseminated-stockwork and higher-grade gold bearing veins along El Rincón’s southeastern striking trend beginning 100 meters southeast of SCD-021. As earlier reported in a news release dated December 8, 2020, SCD-021 intercepted 21 meters averaging 0.88 g/t Au including 2.9 meters averaging 3.86 g/t Au. The area is covered in soil and is steeply sloping, making the exact identification of the vein system challenging.
New Bellotoso Gold Mineralized Vein-Stockwork ZoneThe newly discovered Bellotoso zone is located parallel to the east side of the El Rincón - Veta de Oro mineralized zone and follows a similar northwest trend. Six core drill holes completed in this zone identify a range of very encouraging gold mineralized widths, including SCD-043 which intercepted 3 meters averaging 1.67 g/t AuEq. In the zone’s southeast, drill hole SCD-039 intercepted 2.2 meters averaging 2.227 g/t AuEq and 300 meters to the northwest, SCD-037 intercepted 2 meters averaging 1.78 g/t AuEq. Located approximately 200 meters to the northwest along strike, drill hole SCD-041 returned several intervals of gold mineralization, including 3.5 meters averaging 0.985 g/t AuEq.
The Bellotoso mineralized trend currently has a length of approximately 1.2 kilometers and scattered rock samples and historic soil samples from earlier exploration indicate mineralization may continue southeast to the Espanola vein zone. If confirmed, Bellotoso’s shallow, mineralized, oxide gold zone may extend another 1.5 kilometers. The Company plans to investigate this potential with drilling planned at the Espanola vein zone.
Drilling results from Bellotoso are part of a wider anomalous gold mineralized zone than identified in the reported intervals. For example, the three intervals reported in SCD-043 are within a broader 48.8-meter zone of anomalous gold mineralization averaging 0.372 g/t Au. Bellotoso has demonstrated wider zones containing higher-grade gold intercepts over its 1.2-kilometer length and geological indications suggest that it may merge with the Espanola vein zone into one potentially bulk mineable zone with a combined length of 2.7 kilometers. The Company is currently investigating Bellotoso’s potential as an additional source in the Cerro Caliche’s inventory of shallow oxide gold mineralization.
Mel Herdrick, Sonoro’s VP of Exploration, commented: “Thereported intervals show that where new zones are being drill tested, they demonstrate positive results with significant intervals of gold mineralization. We are currently drilling to define the 500-meter-long west side of Japoneses ridge and also drilling up to an additional 19 holes at Buena Suerte to increase the mineralization definition before we resume drilling in the Rincon and Bellotoso, areas in March.”
El Rincón - Veta de Oro and Bellotoso Assay Results
SEE THE NEWS RELEASE FOR THE ENTIRE INFO...
did you pick up your 29's or lower...
23,545,200
Sonoro Drills 45.72 Meters of 0.972 Grams per Tonne in New Zone at Cerro Caliche
9:00 AM ET, 11/24/2020 - GlobeNewswire
VANCOUVER, British Columbia, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) today reported that assay results from an additional 20 reverse-circulation (RC) drill holes at its Cerro Caliche project in Sonora State, Mexico include several of the best gold grade intercepts recorded to date on the property. The Company expects that these results will contribute to establishing a significant addition to Cerro Caliche’s existing 201,000 AuEq inferred resource1 estimate.
Map of Cerro Caliche RC Drill Holes
This group of drill holes has successfully enlarged the northwest and southeast extensions of the higher-grade mineralization at the now 450 meter longBuena Suertezone, which remains open along strike to the northwest and southeast, in addition to extending the strike length of the premier Japoneses mineralized body. The Japoneses increase, which occurred at the northerly Buena Vista and El Boludito extensions and the southerly extension at Cuervos, now demonstrate a continuous strike lengthof 1.3 km. As in each of the previous 107 drill holes, all 20 of the current group of drill holes encountered reportable mineralization. Assay highlights include the following key intercepts.
At Buena Suerte, SCR-109 successfully tested for a potential northwestern extension along strike and intercepted 45.72 meters averaging 0.97 g/t Au, from 3.05 meters to 48.77 meters, including 15.24 meters averaging 2.1 g/t Au. Hole SCR-124 tested for the Buena Suerte zone’s extension along strike to the southeast and intercepted 6.09 meters averaging 3.99 g/t Au, beginning at 71.63 meters, including 3.04 meters averaging 7.80 g/t Au. SCR-127, which is located near the middle of the zone, intercepted 10.67 meters averaging 0.96 g/t, including 1.52 meters averaging 2.81 g/t Au.
Drilling at the Buena Vista zone confirms that it represents the uninterrupted northwesterly extension component of the Japoneses zone and it remains open along strike to the northwest. Multiple intercepts demonstrate mineralization to over 80 meters depth with deeper potential:
- SCR-110 intercepted 12.19 meters averaging 0.94 g/t Au, including 6.1 meters averaging 1.47 g/t Au.- SCR-112 intercepted 27.43 meters averaging 0.48 g/t Au. - SCR 118 intercepted 19.81 meters averaging 0.57 g/t Au, including 1.53 meters averaging 2.34 g/t Au.
At the northernmost extension of the Japoneses zone, Hole SCR-111 at El Boludito intercepted 1.52 meters averaging 2.26 g/t Au and 34.5 g/t Ag. While most intercepts recorded low silver grades, the higher silver grade at SCR-111 reflected the intercept’s higher vertical level in the epithermal vein zoning. The Cuervoszone at the southern extension of Japoneses continues to report strong mineralization, with SCR-122 intercepting 3.05 meters averaging 1.12 g/t Au.
All drill holes are inclined 45 degrees crossing the intervals near perpendicular to the vein’s plane of mineralization. Interval true lengths are near the reported interval length but may be slightly less due to variations in vein zone dips. A cut-off of 0.15 g/t Au was used for reporting intervals and, for consistency, is in the same format as in all previous news reports.
Buena SuerteZone - Assay Results
Cerro Caliche Project, Holes Composites with Cut-Off 0.15 Au g/tHoleTarget FromToIntervalAuAgAuEq(meters)g/tg/tg/tSCR-109BUENA SUERTE 3.0548.7745.720.9724.01.029includes7.6222.8615.242.1019.72.239and53.3454.861.522.680.72.69and167.64169.161.521.3350.11.336and175.26178.313.050.2530.30.25SCR-124BUENA SUERTE 7.6210.673.050.50031.00.936and16.7621.344.580.2850.30.290and39.6242.673.050.2981.00.318and62.4865.533.050.8260.90.840and71.6377.726.093.9879.04.118includes76.277.721.527.80315.08.015SCR-125BUENA SUERTE 4.577.623.050.3669.00.497SCR-126BUENA SUERTE 15.2425.9110.670.2430.70.254and36.5845.729.140.44612.00.613and57.9164.284.570.2313.00.277SCR-127BUENA SUERTE 41.1551.8210.670.95813.01.14includes44.245.721.522.81130.03.242and59.4462.483.040.3602.00.392
The Buena Suerte zone is independent of other zones, occurring 150-200 meters west of the Japoneses mineralized body. Most of this zone has thin soil cover, especially over the north slope trace of vein extension. The Buena Suerte zone is now confirmed to have more than 450 meters of strike length that is up to 30 meters wide with 80 meters of depth. Host rocks are shattered and veined quartzite with local intrusive rhyolite and minor andesite dikes. Further drilling in this zone has been designed to extend the mineralized zone both to the north and south.
Japoneses Zone - Assay Results (includesBuena Vista, El Boludito and Cuervos)
Cerro Caliche Project, Holes Composites with Cut-Off 0.15 Au g/tHoleTarget FromToIntervalAuAgAuEq(meters)g/tg/tg/tSCR-108JAPONESES 64.0167.063.050.2021.90.229and109.73114.34.570.252.20.282and121.92129.547.620.3070.40.312and156.97164.597.620.4040.20.407SCR-110BUENA VISTA 19.8124.384.570.2540.60.263and47.2460.9613.720.3040.50.322and102.11114.312.190.9413.20.987includes103.63109.736.11.472.51.505and131.06165.544.580.5680.40.574SCR-111EL BOLUDITO 51.8253.341.522.2634.52.753Cerro Caliche Project, Holes Composites with Cut-Off 0.15 Au g/tHoleTarget FromToIntervalAuAgAuEq(meters)g/tg/tg/tSCR-112BUENA VISTA 13.7216.763.040.3210.50.329and22.8625.913.050.3620.40.367and30.4839.629.140.2160.50.224and42.6770.127.430.4840.70.494and77.7280.773.050.2210.30.224SCR-113JAPONESES 4.577.623.050.2610.40.267and21.3424.383.040.2930.30.298and56.3960.964.570.3930.40.399SCR-114JAPONESES 30.4847.2416.760.3336.50.426and70.173.153.050.4331.20.450and80.7788.397.620.3730.70.383SCR-115BUENA VISTA 04.574.570.5396.00.624and16.7624.387.620.2767.00.379and32.0044.2012.20.223.60.272and54.8660.966.10.2195.40.296and73.1582.39.150.5432.30.577SCR-116BUENA VISTA 15.2419.814.570.2107.50.317and27.4332.004.570.43312.00.599and38.1041.153.050.4461.30.464SCR-117BUENA VISTA 30.4835.054.571.0336.01.119includes33.5335.051.522.646.02.727and44.253.349.140.3183.00.359and56.3970.113.710.3640.40.369SCR-118BUENA VISTA 013.7213.720.2676.00.346and18.2927.439.140.2307.00.326and45.7248.773.050.1875.00.251and50.2970.119.810.5665.00.631includes62.4864.011.532.3417.02.589SCR-119CUERVOS 12.1918.296.10.6646.00.753and65.5373.157.620.3541.00.37SCR-120CUERVOS 18.2922.864.570.3073.00.345SCR-121CUERVOS 30.4836.586.10.4617.00.565SCR-122CUERVOS 9.1412.193.050.3490.40.355and48.7751.823.051.1174.01.167SCR-123CUERVOS 25.9141.1515.240.4473.00.486
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/481106e0-f1e5-4c64-881b-39aa49ab8a31
Drill collar locations, azimuths and dips for the drill holes included in this release are provided in the tables below and have been posted to the Company’s website for all drill holes.
Drill Collar Locations (NAD 1927 UTM Zone 12N)Drill HoleZoneEastingNorthingElevationDepth (m)DipAzimuthSCR-108Japoneses53685733654261314170.69-45231SCR-109Buena Suerte53641033652561333182.88-45229SCR-110Buena Vista53664833653471328140.21-45247SCR-111Japoneses5367343365524127491.44-45233SCR-112Buena Vista53660733654091282128.02-45245SCR-113Japoneses5366573365441127991.44-45237SCR-114Japoneses53667933652881332131.06-45232SCR-115Buena Vista5366633365230133082.3-45236SCR-116Buena Vista5366603365177132767.06-45234SCR-117Buena Vista5366943365156133482.3-45232SCR-118Buena Vista5367143365124134582.3-45233SCR-119Cuervos SE53720833644851342100.58-45203SCR-120Cuervos SE5372493364457132082.3-45220SCR-121Cuervos SE5371963364599136382.3-45238SCR-122Cuervos SE5372253364557135082.3-45238SCR-123Cuervos SE5371843364677134682.3-45229SCR-124Buena Suerte53654533650171366100.58-45234SCR-125Buena Suerte5365763364992136482.3-45231Drill Collar Locations (NAD 1927 UTM Zone 12N)Drill HoleZoneEastingNorthingElevationDepth (m)DipAzimuthSCR-126Buena Suerte5364673365172136591.44-45234SCR-127Buena Suerte5364943365146134891.44-45234
The above drill holes are part of the program to define limits of gold mineralization within the Japoneses mineralized material zone that includes the Japoneses mine zone, the Cuervos mine zone, Boludito zone and Buena Vista zone. The geology in these zones is mainly mineralized structures crossing Mesozoic age quartzite with many fracture zones. This entire mineralized zone is a series of northwest-trending veins, shears and shatter bands in quartzite with shales in its central and southern parts. The northern extension of the Japoneses zone gold mineralization passes into andesite and vein associated rhyolitic dikes where both rock units host gold mineralization.
In total, 44 RC holes have been drilled this year to date, of which 32 have been reported, including the current group of holes. An additional 20 to 25 RC holes are expected to be completed by this coming mid-December and the Company expects that the results of all the drill holes to that date will be incorporated into a new NI 43-101 technical report for publication in the New Year.
Melvin Herdrick, Sonoro’s Vice President, Exploration, stated, “The evident success of the new RC drilling along with the parallel new exploratory core drilling that is oriented toward high grade targeting will be combined into a planned updated resource estimate in early 2021. We anticipate that news in December will also include results from core drilling at El Colorado, where the potential for shoot definition exists, in addition to other more exploratory findings from satellite zones.”
Kenneth MacLeod, Sonoro’s President & CEO, added, “The latest assay results from Buena Suerte provide compelling evidence that it has become one of the prime targets for developing a new, higher grade mineralized zone at Cerro Caliche. We are confident that the current results will contribute to a material increase of the current inferred resource estimate at Cerro Caliche.”
John Darch, Sonoro’s Chairman, further added, "The apparent increase in gold grades and substantial intercept widths adds to our confidence regarding both the viability of our planned 8,000 ton per day mining operation which is targeted to commence production next December 2021 and our longer term goal of materially increasing the size of themineralized body and proposed mine by continuing to successfully explore and develop the property.”
The current exploration work is part of the Company’s conceptual fast-track development schedule for the Cerro Caliche project with the aspirational goal of commencing gold production by the end of 2021. Key milestones, whose achievement is essential for the successful realization of this goal, include the satisfactory completion of metallurgical testing, securing the required environmental permitting, receiving a favorable preliminary economic assessment (PEA) and obtaining the necessary project financing. On November 18, 2021, the Company announced that it had retained McClelland Laboratories Inc. of Sparks, Nevada to conduct independent metallurgical testing. These tests are a fundamental component of the PEA which in turn is expected to be completed by April 2021. Earlier this year, after a period of extensive analysis of the Cerro Caliche project data, a major China-based Engineering, Procurement and Construction (EPC) company executed a Memorandum of Understanding with Sonoro making it the third EPC company to formally pursue discussions with the Company regarding the proposed mine’s financing and development.
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical ProceduresDrill samples are collected with an airstream cyclone and passed into a splitter that divides each sample into quarters. The quartered samples are then bagged and sealed with identification. The sample group has blanks, standards and duplicates inserted into the sample stream.
ALS-Chemex collects the samples and transports them directly to the preparation laboratory in Hermosillo, Sonora. At the laboratory, part of each sample is reduced through crushing, splitting and pulverization from which 200 grams is sent to the ALS-Chemex assay laboratory in Vancouver. Thirty grams undergoes fire assay for gold with the resulting concentrated button of material produced dissolved in acids and the gold content determined by atomic absorption. Another quantity of the sample is dissolved in four acids for an ICP multi-element analysis.
To improve upon assay turnaround times, the Company has contracted with the Hermosillo office of Bureau Veritas Laboratories to also provide assays in a timely fashion. Accordingly, the samples are now being collected by Bureau Veritas for direct transport to the preparation and assaying laboratory in Hermosillo, Sonora. At the laboratory, part of each sample is reduced through crushing, splitting and pulverization. About 200 grams is sent by BV to their Vancouver, BC laboratory and dissolved in aqua regia for multi-element ICP analysis including silver. Thirty grams undergoes fire assay in Hermosillo for gold by reducing the fire assay to a concentrated button of material that is dissolved in acids and the gold content determined by atomic absorption. No QA/QC issues were noted with the results received from either laboratory.
Geologic DescriptionCerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district include variants of epithermal low sulfidation veins and related mineralized dikes and associated volcanic domes. Local altered felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.
Host rocks include Jurassic-Cretaceous meta-sedimentary rock units including argillite, shale, quartzite, limestone, quartz pebble conglomerate and andesite. Younger intrusive rock consisting of medium coarse-grained granodiorite-granite is present in the westerly parts of the concessions near the historic Cabeza Blanca Mine. It is apparent that veining cuts and pervasively alters the intrusive stock. Rhyolite occurs in irregular bodies distributed in higher elevations in the northerly part of the concession, including the Rincon area, where it occurs as flows, sills, dikes and rhyolite domes. Part of the rhyolite is mineralized and appears to be related to epithermal gold mineralization throughout the property.
Qualified Person StatementStephen Kenwood, P.Geo., a director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold mineralization in the concessions held by the Company.
About Bureau Veritas LaboratoriesBureau Veritas Laboratories is a North American provider of analytical services and solutions to the environmental, energy, food, DNA and industrial hygiene industries with an extensive laboratory network in Canada. Bureau Veritas’ work supports critical decisions that improve performance, reduce risk or help customers meet safety, quality and regulatory objectives. Founded in 1828, Bureau Veritas is the global leader in testing, inspection and certification services with 78,000 employees in 1,500 locations worldwide.
About Sonoro Gold Corp.Sonoro Gold 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 Gold Corp.Per:“Kenneth MacLeod” Kenneth MacLeod President & CEO
For further information, please contact: Sonoro Gold Corp. - Tel: (604) 632-1764 Email: info@sonorogold.com
SONORO LAUNCHES METALLURGICAL TESTING AT CERRO CALICHE
VANCOUVER, Canada, November 18, 2020 – Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) announces that it has retained McClelland Laboratories Inc. of Sparks, Nevada to conduct independent metallurgical testing of the gold mineralization at the Cerro Caliche gold project in Sonora State, Mexico. As part of the Company’s strategy to fast-track the development of a Heap Leach Mining Operation (HLMO) at Cerro Caliche, over 5,500 kilograms of mineralized material from ten 85-mm diameter PQ core holes are being shipped to the laboratory for metallurgical testing. With continuing success from the ongoing drilling program, Sonoro’s management has expanded 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.
The metallurgical testing program is focused on determining the heap leach characteristics of the oxide mineralization at Cerro Caliche and will provide quantified estimates of gold and silver recovery from the various mineralized zones near surface and at depth, in addition to providing recommendations for crushing sizes and associated process flow sheet development. The testing will incorporate the following components:
Heap leach testing, including variability composite testing, drill core composite testing, bottle roll testing and column leach testing.
Materials characterization testing, including comminution testing, mineralogy, load/ permeability testing, crushing work index, abrasiveness index and ore density.
Preliminary column leach testing of at-surface mineralized material sampled from the Japoneses Zone was carried out at a dedicated facility near Cerro Caliche by Sonoro during 2019. These tests demonstrated the material to be amendable to cyanide leaching, which will now be confirmed by an independent laboratory.
The current testing program will take into consideration the gold mineralization’s characteristics which are divided into two distinct metallurgical domains, as follows:
Hydrothermal vein quartz structures of variable thickness, from 0.10 to 5 meters, and with variable textures from massive quartz with some vuggy quartz zones to gray quartz. The vein structures are mostly related to fault zones with resulting breccias and silicified zones in the hosting rocks.
Veinlets-stockwork mineralization, with relatively lower average gold grades. These are zones with erratic and irregular quartz narrow veinlets from 0.01 to 0.20 meters width, sometimes with breccia and shatter textures. These veins, veinlets and stockwork are usually in silicified and oxidized zones in the hosting rock and frequently associated with similarly altered rhyolite dikes.
Drilling at Cerro Caliche has shown that the mineralization throughout the various zones is oxidized to the full extent of all the drill holes. Observation of the drill cuttings suggests that the near-surface oxidized mineralization characteristics are similar to the deeper oxidized mineralization.
The current exploration work is part of the Company’s targeted fast-track development schedule for the Cerro Caliche project with the aspirational goal of commencing gold production by the end of 2021. However, a successful realization of that goal remains subject to several material conditions, most notably including the satisfactory completion of metallurgical testing, securing required environmental permitting, a favourable preliminary economic assessment and the availability of project financing.
Jorge Diaz, Sonoro’s Vice President Operations, stated, “It is worth noting that current exploration results are confirming Sonoro’s expectations regarding Cerro Caliche’s potential to become another important heap leach mining operation in Sonora State.”
Kenneth MacLeod, Sonoro’s CEO, added, “Launching the metallurgical testing program represents an important advancement in the development of Cerro Caliche. We are also pleased to have engaged the services of McClelland Laboratories, a widely respected metallurgical testing firm with significant expertise in the successful planning of similar open-pit heap leach mining operations in Sonora State.”
John Darch, Sonoro’s Chairman added, “The engagement of McClelland Laboratories to independently conduct metallurgical testing at Cerro Caliche is a clear and decisive milestone on Sonoro’s fast-track development schedule for commencing gold production by the end of 2021.”
Geologic Description
Cerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic small underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district includes epithermal low sulfidation veins and related mineralized rhyolitic dikes and associated volcanic domes.
Host rocks include Jurassic-Cretaceous meta-sedimentary rock units including argillite, shale, quartzite, limestone, quartz pebble conglomerate and andesite. Tertiary age medium coarse-grained granodiorite-granite is present in the westerly parts of the concessions near the historic Cabeza Blanca Mine.
It is apparent that veining cuts pervasively alters the intrusive stock. Younger rhyolite occurs in irregular bodies distributed in higher elevations in the northerly part of the concession, including the Rincon area, where it occurs as flows, sills, dikes and rhyolite domes. Part of the rhyolite is mineralized and appears to have a connection with deposition of epithermal gold mineralization throughout the property.
Qualified Person Statement
Stephen Kenwood, P.Geo., a Director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold mineralization in the concessions held by the Company.
About McClelland Laboratories
McClelland Laboratories, Inc. (MLI) has been providing quality laboratory and consulting services to the minerals industry for over 33 years. Their services include metallurgical, environmental, analytical testing and consulting to meet their clients’ needs during all phases of project development, operation, and closure. MLI started as a lab dedicated to the gold, silver and copper industries and has expanded to provide services in a wide range of mineral markets.
MLI has an experienced staff of metallurgical, chemical, and environmental science and engineering professionals and technicians working in over 44,000 square feet of laboratory and office space in Sparks, Nevada. MLI works closely with their clients to design testing programs which meet their project objectives. The MLI philosophy is to design testing programs and procedures to produce the maximum amount of data to efficiently add value to their clients’ projects. MLI understands that attention to detail and quality of work, along with prompt professional service, are of utmost importance to their clients.
About Sonoro Gold Corp.
Sonoro Gold Corp. is an exploration and development company which is fast tracking plans to develop a heap leach gold mine at its flagship Cerro Caliche property in the mining friendly jurisdiction of Sonora, Mexico. Sonoro’s management team consists of expert mining, business, and finance professionals with multi-decade track records of gold and copper deposit discovery and development and ultimately, gold production.
On behalf of the Board of Sonoro Gold Corp.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. - Tel: (604) 632-1764
Email: info@sonorogold.com
SONORO LAUNCHES METALLURGICAL TESTING AT CERRO CALICHE
(VIEW ONLINE HERE)
VANCOUVER, Canada, November 18, 2020 – Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) announces that it has retained McClelland Laboratories Inc. of Sparks, Nevada to conduct independent metallurgical testing of the gold mineralization at the Cerro Caliche gold project in Sonora State, Mexico. As part of the Company’s strategy to fast-track the development of a Heap Leach Mining Operation (HLMO) at Cerro Caliche, over 5,500 kilograms of mineralized material from ten 85-mm diameter PQ core holes are being shipped to the laboratory for metallurgical testing. With continuing success from the ongoing drilling program, Sonoro’s management has expanded 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.
The metallurgical testing program is focused on determining the heap leach characteristics of the oxide mineralization at Cerro Caliche and will provide quantified estimates of gold and silver recovery from the various mineralized zones near surface and at depth, in addition to providing recommendations for crushing sizes and associated process flow sheet development. The testing will incorporate the following components:
Heap leach testing, including variability composite testing, drill core composite testing, bottle roll testing and column leach testing.
Materials characterization testing, including comminution testing, mineralogy, load/ permeability testing, crushing work index, abrasiveness index and ore density.
Preliminary column leach testing of at-surface mineralized material sampled from the Japoneses Zone was carried out at a dedicated facility near Cerro Caliche by Sonoro during 2019. These tests demonstrated the material to be amendable to cyanide leaching, which will now be confirmed by an independent laboratory.
The current testing program will take into consideration the gold mineralization’s characteristics which are divided into two distinct metallurgical domains, as follows:
Hydrothermal vein quartz structures of variable thickness, from 0.10 to 5 meters, and with variable textures from massive quartz with some vuggy quartz zones to gray quartz. The vein structures are mostly related to fault zones with resulting breccias and silicified zones in the hosting rocks.
Veinlets-stockwork mineralization, with relatively lower average gold grades. These are zones with erratic and irregular quartz narrow veinlets from 0.01 to 0.20 meters width, sometimes with breccia and shatter textures. These veins, veinlets and stockwork are usually in silicified and oxidized zones in the hosting rock and frequently associated with similarly altered rhyolite dikes.
Drilling at Cerro Caliche has shown that the mineralization throughout the various zones is oxidized to the full extent of all the drill holes. Observation of the drill cuttings suggests that the near-surface oxidized mineralization characteristics are similar to the deeper oxidized mineralization.
The current exploration work is part of the Company’s targeted fast-track development schedule for the Cerro Caliche project with the aspirational goal of commencing gold production by the end of 2021. However, a successful realization of that goal remains subject to several material conditions, most notably including the satisfactory completion of metallurgical testing, securing required environmental permitting, a favourable preliminary economic assessment and the availability of project financing.
Jorge Diaz, Sonoro’s Vice President Operations, stated, “It is worth noting that current exploration results are confirming Sonoro’s expectations regarding Cerro Caliche’s potential to become another important heap leach mining operation in Sonora State.”
Kenneth MacLeod, Sonoro’s CEO, added, “Launching the metallurgical testing program represents an important advancement in the development of Cerro Caliche. We are also pleased to have engaged the services of McClelland Laboratories, a widely respected metallurgical testing firm with significant expertise in the successful planning of similar open-pit heap leach mining operations in Sonora State.”
John Darch, Sonoro’s Chairman added, “The engagement of McClelland Laboratories to independently conduct metallurgical testing at Cerro Caliche is a clear and decisive milestone on Sonoro’s fast-track development schedule for commencing gold production by the end of 2021.”
Geologic Description
Cerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic small underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district includes epithermal low sulfidation veins and related mineralized rhyolitic dikes and associated volcanic domes.
Host rocks include Jurassic-Cretaceous meta-sedimentary rock units including argillite, shale, quartzite, limestone, quartz pebble conglomerate and andesite. Tertiary age medium coarse-grained granodiorite-granite is present in the westerly parts of the concessions near the historic Cabeza Blanca Mine.
It is apparent that veining cuts pervasively alters the intrusive stock. Younger rhyolite occurs in irregular bodies distributed in higher elevations in the northerly part of the concession, including the Rincon area, where it occurs as flows, sills, dikes and rhyolite domes. Part of the rhyolite is mineralized and appears to have a connection with deposition of epithermal gold mineralization throughout the property.
Qualified Person Statement
Stephen Kenwood, P.Geo., a Director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold mineralization in the concessions held by the Company.
About McClelland Laboratories
McClelland Laboratories, Inc. (MLI) has been providing quality laboratory and consulting services to the minerals industry for over 33 years. Their services include metallurgical, environmental, analytical testing and consulting to meet their clients’ needs during all phases of project development, operation, and closure. MLI started as a lab dedicated to the gold, silver and copper industries and has expanded to provide services in a wide range of mineral markets.
MLI has an experienced staff of metallurgical, chemical, and environmental science and engineering professionals and technicians working in over 44,000 square feet of laboratory and office space in Sparks, Nevada. MLI works closely with their clients to design testing programs which meet their project objectives. The MLI philosophy is to design testing programs and procedures to produce the maximum amount of data to efficiently add value to their clients’ projects. MLI understands that attention to detail and quality of work, along with prompt professional service, are of utmost importance to their clients.
About Sonoro Gold Corp.
Sonoro Gold Corp. is an exploration and development company which is fast tracking plans to develop a heap leach gold mine at its flagship Cerro Caliche property in the mining friendly jurisdiction of Sonora, Mexico. Sonoro’s management team consists of expert mining, business, and finance professionals with multi-decade track records of gold and copper deposit discovery and development and ultimately, gold production.
On behalf of the Board of Sonoro Gold Corp.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. - Tel: (604) 632-1764
Email: info@sonorogold.com
SMOFF...Sonoro Gold <info@sonorogold.com>11/4/2020 11:25 AM
SONORO ANNOUNCES INITIAL DRILLING RESULTS AND FAST-TRACK TO GOLD PRODUCTION IN 2021
SONORO ANNOUNCES INITIAL DRILLING RESULTS AND FAST-TRACK TO GOLD PRODUCTION IN 2021
(VIEW ONLINE HERE)
VANCOUVER, Canada, November 4, 2020 – Sonoro Gold Corp. (TSXV: SGO), formerly known as Sonoro Metals Corp. (TSXV: SMO) | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce assay results from 12 reverse-circulation (RC) drill holes at its Cerro Caliche project in Sonora State, Mexico. These results reflect all assays received to date from the Company’s ongoing RC drilling program focused on expanding four of the 17 gold mineralization zones at Cerro Caliche. Highlights include key intercepts at the premier Japoneses and Buena Suerte zones.
At Japoneses, SCR-104 intercepted 15.24 meters averaging 1.278 g/t Au and SCR-106 intercepted 16.76 meters averaging 0.853 g/t Au. At Buena Suerte, SCR-096 intercepted 16.76 meters averaging 0.841 g/t Au and SCR-097 intercepted 12.19 meters averaging 0.508 g/t Au. The Company expects that these results will contribute to establishing a significant addition to Cerro Caliche’s existing 201,000 gold equivalent (AuEq) inferred resource estimate[1]. In total, 34 RC 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 RC 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.
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 (HLMO) at Cerro Caliche, ten 85-mm 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.
The current exploration work is part of the Company’s conceptual fast-track development schedule for the Cerro Caliche project with the aspirational goal of commencing gold production by the end of 2021. However, a successful realization of that goal remains subject to several material conditions, most notably including the satisfactory completion of metallurgical testing, securing required environmental permitting, a favourable preliminary economic assessment and the availability of project financing.
Crews for both the RC and Core drilling rigs are to take a one-week pause-break so that long-awaited assay results may be received and incorporated into the ongoing refinement of the drill targets within the two respective drill programs.
Sonoro CEO, Kenneth MacLeod 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.”
John Darch, Sonoro’s 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 12 RC drill holes tabulated or discussed here are listed with the below-selected assay intervals. A Cutoff of 0.15 grams per ton Au was used for reporting intervals and, for consistency, is in the same format as in previous years’ news reports. The drill holes are angled generally 45 degrees at azimuth 225° and are targeted to cut the vein zones near perpendicular to their plane of strike. 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 five 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 apparent continuation of this zone by an additional 350 meters to the southeast is identified as the Los Cuervos zone. This entire mineralized zone is a series of northwest-trending veins, shears and shatter bands in quartzite with shales in its central and southern parts. The northern extension of the Japoneses zone gold mineralization passes into andesite and vein associated rhyolitic dikes where both rock units host gold mineralization.
Two drill holes were in the vicinity of the El Boludito vein, a small zone that begins in the hanging wall of the Japoneses vein zone and extends in a northerly direction away from the Japoneses zone. The results indicated insufficient dimensions and mineralization to add to the current mineralized material inventory.
Two RC drill holes cut the Chinos NW gold mineralized zone which is about 400 meters long and up to 30 meters wide running parallel to the Japoneses zone on its east side. It continues northerly for another 500 meters between El Boludito and the Veta de Oro vein zone before merging into Veta de Oro where a further outcrop of the vein zone is hidden by soil cover. The Chinos NW vein zone appears to be part of a classic vein splitting pattern called “horse tailing” on its southern part. Drill hole SCR-101 tested the Chinos NW mineralization’s northernmost extent with mixed results, including 3.05 meters averaging 0.517 g/t Au and 3.6 g/t Ag. Two of the core drill holes cut the southern part of Chinos NW and will be reported in upcoming diamond drill hole results.
Three holes were completed in the Buena Suerte vein zone and, while showing the vein zone is independent of other nearby vein zones, they also added to the potential for increasing the project’s current inferred gold resource. The veins are hosted in quartzite and a vein parallel - rhyolite dike. The three drill holes intersected gold mineralization that will potentially extend mineralized material to more than double the prior drill confirmed mineralized dimensions. The dimensions of the Buena Suerte mineralized zone are approximately 30 meters wide by 300 meters in length and located about 120 meters west of the Japoneses footwall structure with a parallel NW trend.
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical Procedures
Drill samples are collected with an airstream cyclone and passed into a splitter that divides each sample into quarters. The quartered samples are then bagged and sealed with identification. The sample group has blanks, standards and duplicates inserted into the sample stream. ALS-Chemex collects the samples and transports them directly to the preparation laboratory in Hermosillo, Sonora.
At the laboratory, part of each sample is reduced through crushing, splitting and pulverization from which 200 grams is sent to the ALS-Chemex assay laboratory in Vancouver. Thirty grams undergoes fire assay for gold with the resulting concentrated button of material produced is dissolved in acids and the gold is determined by atomic absorption. Another quantity of the sample is dissolved in four acids for an ICP multi-element analysis.
Geologic Description
Cerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district include variants of epithermal low sulfidation veins and related mineralized dikes and associated volcanic domes. Local altered felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.
Host rocks include Jurassic-Cretaceous meta-sedimentary rock units including argillite, shale, quartzite, limestone, quartz pebble conglomerate and andesite. Younger intrusive rock consisting of medium coarse-grained granodiorite-granite is present in the westerly parts of the concessions near the historic Cabeza Blanca Mine. It is apparent that veining cuts and pervasively alters the intrusive stock. Rhyolite occurs in irregular bodies distributed in higher elevations in the northerly part of the concession, including the Rincon area, where it occurs as flows, sills, dikes and rhyolite domes. Part of the rhyolite is mineralized and appears to be related to epithermal gold mineralization throughout the property.
Qualified Person Statement
Stephen Kenwood, P.Geo., a director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold mineralization in the concessions held by the company.
About Sonoro Gold Corp.
Sonoro Gold 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 GOLD CORP.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. - Tel: (604) 632-1764
Email: info@sonorogold.com
[1] NI 43-101 Technical Report on the Cerro Caliche Property, July 26, 2019, Strickland, D., Sim, R.C. prepared for Sonoro Metals; comprised of an inferred resource of 201,000 AuEq ounces at a grade of 0.55 AuEq (0.495 g/t Au and 4.3 g/t Ag)
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 the drilling of the above-described Cerro Caliche Concessions, located in the municipality of Cucurpe, Sonora, Mexico, and the Company’s future exploration and development 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.
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.
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You are receiving this email because you requested information on our website or were in contact with our team.
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#408 – 470 Granville Street
Vancouver, BC, CANADA
V6C 1V5
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Sonoro Gold <info@sonorogold.com>11/4/2020 11:25 AM SMOFF
SONORO ANNOUNCES INITIAL DRILLING RESULTS AND FAST-TRACK TO GOLD PRODUCTION IN 2021
SONORO ANNOUNCES INITIAL DRILLING RESULTS AND FAST-TRACK TO GOLD PRODUCTION IN 2021
(VIEW ONLINE HERE)
VANCOUVER, Canada, November 4, 2020 – Sonoro Gold Corp. (TSXV: SGO), formerly known as Sonoro Metals Corp. (TSXV: SMO) | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce assay results from 12 reverse-circulation (RC) drill holes at its Cerro Caliche project in Sonora State, Mexico. These results reflect all assays received to date from the Company’s ongoing RC drilling program focused on expanding four of the 17 gold mineralization zones at Cerro Caliche. Highlights include key intercepts at the premier Japoneses and Buena Suerte zones.
At Japoneses, SCR-104 intercepted 15.24 meters averaging 1.278 g/t Au and SCR-106 intercepted 16.76 meters averaging 0.853 g/t Au. At Buena Suerte, SCR-096 intercepted 16.76 meters averaging 0.841 g/t Au and SCR-097 intercepted 12.19 meters averaging 0.508 g/t Au. The Company expects that these results will contribute to establishing a significant addition to Cerro Caliche’s existing 201,000 gold equivalent (AuEq) inferred resource estimate[1]. In total, 34 RC 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 RC 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.
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 (HLMO) at Cerro Caliche, ten 85-mm 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.
The current exploration work is part of the Company’s conceptual fast-track development schedule for the Cerro Caliche project with the aspirational goal of commencing gold production by the end of 2021. However, a successful realization of that goal remains subject to several material conditions, most notably including the satisfactory completion of metallurgical testing, securing required environmental permitting, a favourable preliminary economic assessment and the availability of project financing.
Crews for both the RC and Core drilling rigs are to take a one-week pause-break so that long-awaited assay results may be received and incorporated into the ongoing refinement of the drill targets within the two respective drill programs.
Sonoro CEO, Kenneth MacLeod 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.”
John Darch, Sonoro’s 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 12 RC drill holes tabulated or discussed here are listed with the below-selected assay intervals. A Cutoff of 0.15 grams per ton Au was used for reporting intervals and, for consistency, is in the same format as in previous years’ news reports. The drill holes are angled generally 45 degrees at azimuth 225° and are targeted to cut the vein zones near perpendicular to their plane of strike. 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 five 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 apparent continuation of this zone by an additional 350 meters to the southeast is identified as the Los Cuervos zone. This entire mineralized zone is a series of northwest-trending veins, shears and shatter bands in quartzite with shales in its central and southern parts. The northern extension of the Japoneses zone gold mineralization passes into andesite and vein associated rhyolitic dikes where both rock units host gold mineralization.
Two drill holes were in the vicinity of the El Boludito vein, a small zone that begins in the hanging wall of the Japoneses vein zone and extends in a northerly direction away from the Japoneses zone. The results indicated insufficient dimensions and mineralization to add to the current mineralized material inventory.
Two RC drill holes cut the Chinos NW gold mineralized zone which is about 400 meters long and up to 30 meters wide running parallel to the Japoneses zone on its east side. It continues northerly for another 500 meters between El Boludito and the Veta de Oro vein zone before merging into Veta de Oro where a further outcrop of the vein zone is hidden by soil cover. The Chinos NW vein zone appears to be part of a classic vein splitting pattern called “horse tailing” on its southern part. Drill hole SCR-101 tested the Chinos NW mineralization’s northernmost extent with mixed results, including 3.05 meters averaging 0.517 g/t Au and 3.6 g/t Ag. Two of the core drill holes cut the southern part of Chinos NW and will be reported in upcoming diamond drill hole results.
Three holes were completed in the Buena Suerte vein zone and, while showing the vein zone is independent of other nearby vein zones, they also added to the potential for increasing the project’s current inferred gold resource. The veins are hosted in quartzite and a vein parallel - rhyolite dike. The three drill holes intersected gold mineralization that will potentially extend mineralized material to more than double the prior drill confirmed mineralized dimensions. The dimensions of the Buena Suerte mineralized zone are approximately 30 meters wide by 300 meters in length and located about 120 meters west of the Japoneses footwall structure with a parallel NW trend.
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical Procedures
Drill samples are collected with an airstream cyclone and passed into a splitter that divides each sample into quarters. The quartered samples are then bagged and sealed with identification. The sample group has blanks, standards and duplicates inserted into the sample stream. ALS-Chemex collects the samples and transports them directly to the preparation laboratory in Hermosillo, Sonora.
At the laboratory, part of each sample is reduced through crushing, splitting and pulverization from which 200 grams is sent to the ALS-Chemex assay laboratory in Vancouver. Thirty grams undergoes fire assay for gold with the resulting concentrated button of material produced is dissolved in acids and the gold is determined by atomic absorption. Another quantity of the sample is dissolved in four acids for an ICP multi-element analysis.
Geologic Description
Cerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district include variants of epithermal low sulfidation veins and related mineralized dikes and associated volcanic domes. Local altered felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.
Host rocks include Jurassic-Cretaceous meta-sedimentary rock units including argillite, shale, quartzite, limestone, quartz pebble conglomerate and andesite. Younger intrusive rock consisting of medium coarse-grained granodiorite-granite is present in the westerly parts of the concessions near the historic Cabeza Blanca Mine. It is apparent that veining cuts and pervasively alters the intrusive stock. Rhyolite occurs in irregular bodies distributed in higher elevations in the northerly part of the concession, including the Rincon area, where it occurs as flows, sills, dikes and rhyolite domes. Part of the rhyolite is mineralized and appears to be related to epithermal gold mineralization throughout the property.
Qualified Person Statement
Stephen Kenwood, P.Geo., a director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold mineralization in the concessions held by the company.
About Sonoro Gold Corp.
Sonoro Gold 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 GOLD CORP.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. - Tel: (604) 632-1764
Email: info@sonorogold.com
[1] NI 43-101 Technical Report on the Cerro Caliche Property, July 26, 2019, Strickland, D., Sim, R.C. prepared for Sonoro Metals; comprised of an inferred resource of 201,000 AuEq ounces at a grade of 0.55 AuEq (0.495 g/t Au and 4.3 g/t Ag)
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 the drilling of the above-described Cerro Caliche Concessions, located in the municipality of Cucurpe, Sonora, Mexico, and the Company’s future exploration and development 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.
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.
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Copyright © 2020 Sonoro Gold, All rights reserved.
You are receiving this email because you requested information on our website or were in contact with our team.
Our mailing address is:
Sonoro Gold Corp.
#408 – 470 Granville Street
Vancouver, BC, CANADA
V6C 1V5
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You can update your preferences or unsubscribe from this list.
there are 2 boards for sonoro gold on ihub...
this board...smoff...which reflects trades from otc..
and
sgo which reflects trades from tsxv...
trades are the same and volume is the same but on
occasions they differ...
sgo reflects trades in canadian dollars
smoff reflects trades in u.s. dollars
there are 2 boards for sonoro gold on ihub...
this board...SGO...which reflects trades from TSXV
and
smoff which reflects trades from otc...
trades are the same and volume is the same but on
occasions they differ...
sgo reflects trades in canadian dollars
smoff reflects trades in u.s. dollars