The Conversation (0)
Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) ("Sonoro" or the "Company") is pleased to announce that, through its wholly owned Mexican subsidiary, Minera Mar de Plata ("MMP"), it has acquired a 100% interest in the Diana mineral concession (the "Diana Concession"), located adjacent to the central-eastern boundary of the Company's Cerro Caliche gold project in Sonora, Mexico.
Under the acquisition, MMP acquired a 100% interest in the 51-hectare concession from four residents of Sonora, Mexico (the "Vendor") for a total consideration of a one-time payment of US$600,000. The Vendors are at arm's length to the Company and to its associates and affiliates. The purchase consideration does not include the issuance of any securities nor any grant of a royalty interest.
The Company believes the Diana Concession to be a possible significant extension of the northwest trending mineralized corridors located north of the Rincón–Bellotoso mineralized zone near the historic workings of El Batamote mine.
Kenneth MacLeod, President & CEO of Sonoro commented, "We have long recognized the potential mineralized value of the Diana Concession as demonstrated by prior exploration programs, but we believe its real potential value was enhanced through the recent extension of the Cerro Caliche project to the north, which almost surrounds the Diana Concession. Combined with historic drilling data, the acquisition enhances the potential for the upcoming 50,000 meters drilling campaign to define a larger resource at Cerro Caliche."
In 2012, Paget Southern Resources S. de R.L. de C.V., a Mexican subsidiary of Pembrook Mining Corp., completed multiple rock sampling programs as well as six diamond drill holes at Diana and another nine at El Batamote. In 2018, MMP acquired the geological data from a subsequent owner, Millrock Resources, including rock and soil samples, drill logs and assay certificates. A recently announced 50,000-meter drilling program will also include expansion drilling at the Diana Concession to confirm potential structural continuity of the project's northwest trending mineralized corridors.
Figure 1: Cerro Caliche Gold Project
Click here to view image
The map below shows the proposed drill holes for the upcoming program including drilling targets at the Diana Concession.
Figure 2: Map of Proposed Drilling Targets
Click here to view image
The acquisition of the Diana Concession expands the Cerro Caliche project to twenty-six (26) contiguous mining concessions, covering a total area of 3,975.97 hectares and adding new high-potential exploration targets.
The Cerro Caliche gold project is in the final permitting stage for a proposed initial open-pit, heap leach mining operation. The property hosts a broadly mineralized low-sulphidation epithermal vein structure with over twenty-five (25) northwest-trending gold mineralized zones along trend and near surface.
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.
About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development Company holding the development-stage Cerro Caliche project and the exploration-stage San Marcial project 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.
To keep up-to-date on Sonoro's developments, please join our online communities on X, Facebook, LinkedIn, Instagram and YouTube, and visit Sonoro's website and subscribe to receive the latest news and updates delivered straight to your inbox.
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
Forward-Looking Statement Cautions:
This press may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Cerro Caliche project, and future plans and objectives of the Company, constitute forward looking information that involve various risks and uncertainties, including statements regarding completion of an updated preliminary economic assessment of the Cerro Caliche Gold project.. 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 unfavorable exploration and test results, the lack of sufficient future financing to carry out exploration and development 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.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act"
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.
