Global Expertise, Strong Economics Underpin Cerro Caliche: Sonoro

Q: What were the major milestones achieved by Sonoro Gold in 2023?
A: Two important things happened in 2023. In March, we filed the updated mineral resource estimation, and then in October, we filed the updated preliminary economic assessment. These filings were crucial because they confirmed the economic potential of the current resource and demonstrated the expansion potential, enabling us to move forward confidently.

Q: What factors make Cerro Caliche a promising project in Sonora, and how is the company’s goal toward production progressing?
A: We are in the permitting phase for a proposed open pit heap leach operation. While we await the permit approval, we will be focusing on drilling to expand and increase the grade of our resources. The key factors that make Cerro Caliche promising include our experienced management team, the favorable mining laws in Sonora, and the attractive economics of the project. With only 30% of the currently known mineralized areas explored so far, there is significant potential for growth. Additionally, being an open pit operation means our initial capital costs are relatively low, making the project even more attractive.
Our experienced senior executives bring a wealth of global mining expertise to the project. They view Cerro Caliche as an operation that, once permitting is in place, can move forward rapidly. The project's economics are highly favorable, especially considering the current gold prices. Furthermore, our ownership structure, with insiders holding 25% of the company, demonstrates a strong commitment to the project's success. Overall, management views Cerro Caliche as a compelling investment opportunity, especially considering the untapped mineralization evident throughout the concession.

Q: What factors lead you to believe that the company's resources could exceed current estimates?
A: The high-grade results we've encountered in recent drilling programs are a key indicator. With gold grades up to 40 grams per ton, we anticipate that additional drilling may expand these zones of higher grades, leading to an increase in the resource. This would not only extend the mine's life but also have a significant positive impact on the project's economics. By focusing on areas with high-grade mineralization, we aim to maximize the value of Cerro Caliche and ensure its long-term success.

Q: What technology is being incorporated into the exploration campaigns and what are the benefits?
A: We are utilizing reverse circulation drilling, which is highly efficient and requires minimal water. This technology provides excellent results and enables us to quickly expand our resource base. It enhances our exploration efforts by allowing us to drill more efficiently and cost-effectively, ultimately accelerating our path to production.
 

Q: What are Sonoro Gold's main exploration targets in 2024? 
A: Our primary focus in 2024 is to embark on a drilling program near our proposed production area. We anticipate drilling approximately 9,000m across 56 drill holes. Our goal is to target areas that are not included in our mineral resource calculation due to sparse drilling in those locations. By expanding our exploration efforts, we aim to increase both the size and grade of our resource base, unlocking further value for our shareholders.

Q: How has market and peso volatility affected Sonoro Gold's finances, and what specific strategies is the company using to protect against these uncertainties?

A: Market and peso volatility present challenges, but our management team, with decades of experience in the mining sector, is adept at navigating such uncertainties. While investor interest in precious metals may fluctuate, we remain poised to move forward once we secure the necessary permits. We have successfully raised funds even in difficult markets, and our committed management team enables us to weather market fluctuations. Additionally, effective communication with shareholders and commitment to executing our business plan instills confidence and helps mitigate the impact of market volatility.

Sonoro Gold Corp is a gold and silver mineral exploration company with a portfolio of exploration-stage properties in Sonora. It has a highly experienced mining team with a successful track record from discovery through resource development.