Sonoro Gold Reports Promising Assay ResultsBy Alejandro Ehrenberg | Wed, 11/25/2020 - 09:13
Sonoro Gold Corp reported that assay results from an additional 20 reverse-circulation drill holes at its Cerro Caliche project in Sonora include several of the best gold grade intercepts recorded to date at the property. Sonoro expects that these results will contribute by establishing a significant addition to Cerro Caliche’s existing 201,000 AuEq inferred resource estimates.
This group of drill holes has successfully enlarged the northwest and southeast extensions of the higher-grade mineralization at the now 450m long Buena Suerte zone, the company noted in a press release. They also extended the strike length of the Japoneses mineralized body. The Japoneses increase now demonstrates a continuous strike length of 1.3km. As in each of the previous 107 drill holes, all 20 of the current group of drill holes encountered reportable mineralization, Sonoro informed.
With respect to the Buena Vista zone, the company explained that drilling 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 80m depth with deeper potential. Promising gold and silver results were also obtained at El Boludito and Cuervos zones.
All drill holes are inclined 45 degrees crossing the intervals near perpendicular to the vein’s plane of mineralization, Sonoro noted. 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 0.15g/t Au was used for reporting intervals and, for consistency, is in the same format as in all previous news reports.
“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,”
“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 the mineralized body and proposed mine by continuing to successfully explore and develop the property,” John Darch, Sonoro’s Chairman, added.
The current exploration work is part of the company’s conceptual fast-track development schedule for the Cerro Caliche project. The goal is to commence gold production by the end of 2021. The successful realization of this goal is dependent on a set of milestones: the satisfactory completion of metallurgical testing, securing the required environmental permitting, receiving a favorable preliminary economic assessment (PEA) and obtaining the necessary project financing.