Image credits: Sonoro Gold Corp
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News Article

2022 Looks Brighter for Sonoro Gold

By Paloma Duran | Fri, 01/28/2022 - 17:05

Sonoro Gold has a promising year ahead, especially as the company achieved important milestones in 2021, such as completing its PEA with authorities, initiated its 10,000m drilling program and securing new financing. The company said the completion of its US$3 million private placement is a major achievement.

The company's PEA has been a successful step for the development of its flaghsip project Cerro Caliche in Sonora due to its high potential. Nevrtheless, Sonoro believes the project is more valuable as many holes were not included in the PEA and only 30 percent of the projectet’s resource has been drilled. For these reasons, the company reported  it will streghten its drilling campaigns.

The company's 10,000-drill program is expected to continue over the next four months. The campaign seeks to increase the size of the resource and the average grade. These exploration initiativesare expected to bring Sonoro closer to commercial production, which is the company's ultimate goal. Sonoro said that in order to start production as soon as possible, it has already prepared all the necessary documentation to obtain permits, which will be presented at the end of the month.

Regarding the loading of the leaching platform, it is expected to start at the end of 2022. In an interview with MBN, Díaz said that the company is optimistic about increasing its production rate since “during a relatively short period Sonoro has proven our good expectations for Cerro Caliche. Not long ago the plans considered a production rate of 8,000 tpd for our initial operation phase, but the results today confirm a firm possibility of an initial 15,000 tpd phase, this means that we are rapidly approaching the potential for 20,000 tpd, which is very impressive.” Recently, the company said that it expects rveenues to start around the 1Q23.

Sonoro reportedthat the company's recent private placement demonstrates its ability to drive forward its projects and the team's high level of confidence in the project. Especially given that John M. Darch, Chairman and Director, and Ken MacLeod, President, CEO and Directo of Sonoro Gold, invested US$100,000 in the private placement, while Senior Geologist Mel Herdrick and Mining Engineer Mel Herdrick Jorge Diaz invested about US$150,000.

The company said it expects a very good year in 2022, especially as it counts on the five essential components to having a successful company, which are people, experience, commitment, capacity and financing. The company said in reference to this last item it has had much success, because despite the pandemic, it managed to raise US$14 million, which demonstrates the attractiveness of the project.

The data used in this article was sourced from:  
Sonoro Gold Corp,MetalsNews.com, MBN
Photo by:   Sonoro Gold Corp
Paloma Duran Paloma Duran Journalist and Industry Analyst