2021 Shapes Up to Be Exceptional for Sonoro GoldBy Alejandro Ehrenberg | Wed, 12/16/2020 - 10:19
Don't miss Kenneth MacLeod's (President & CEO of Sonoro Gold) participation as a speaker at Mexico Mining Forum 2021 on February 10-11. You can find the program and registration here!
Sonoro Gold’s Cerro Caliche gold project in Sonora remains on schedule and on budget. The company’s fast-track program is establishing viability for production, while its exploration efforts are better defining and expanding the established gold mineralized zones. Results so far have supported an increase in the scope of the planned project from a proposed pilot operation to a potentially full-scale mining operation starting as soon as December 2021.
As John Darch, Chairman of Sonoro Gold, explained in his Dec. 13, 2020, letter to shareholders, the drilling campaign at Cerro Caliche is two-pronged. On the one hand, Sonoro’s team is undertaking development and step-out drilling in known shallow mineralized zones. On the other, the team is core drilling higher-grade gold targets. The company’s strategy consists in a balance of a low-risk program to expand the already established inferred gold resource with high-risk, high-impact targets. Darch noted that this approach has the potential to extend the size of known gold zones, while at the same time having the potential to discover new ones. An element common to all activities has been Sonoro’s careful financial stewardship to ensure the most effective use of available funds. As core drilling investigates deeper and potentially higher-grade targets, the company evaluates the gold mineralization penetrated at a shallower depth.
In total, 10 core holes provided rock samples from the lower limits of Cerro Caliche’s oxide gold mineralization, Darch pointed out. These samples are now being subjected to independent metallurgical testing, a fundamental part of the Preliminary Economic Assessment (PEA) of Sonoro’s fast-track development schedule. There is also a small air track drill on the property drilling 30m holes to evaluate Cerro Caliche’s many prospective areas where gold-enriched oxide zones may be hidden under relatively thin layers of barren rock or gravel.
Based on drilling results to date, Sonoro Gold expects material increases in both grade and quantity of resource, Darch wrote. The company is confident that estimated resources will be upgraded from the inferred to indicated category. Completion of NI 43-101 compliant technical reports is planned for April 2021.
Less than 20 percent of the mapped gold mineralization zones at Cerro Caliche have been drilled and assayed. Also, there is potential for higher-grade gold targets at shallower depth. These two factors, in addition to the conceptual fast-track program to begin producing gold by December 2021, make it reasonable to expect a strong 2021 for Sonoro Gold.
Read John Darch’s full letter and learn about the details of the Cerro Caliche gold project here. Forward-looking statements caution is also included therein.