Sonoro Gold - Exploring And Developing The Cerro Caliche Gold Project Towards Production
John Darch, Chairman and Director, and Ken MacLeod, President and CEO of Sonoro Gold Corp (TSXV: SGO) (OTCQB: SMOFF), both join me to introduce the Cerro Caliche Gold Project, and the exploration and development initiatives to move it into open-pit production within 12 months of receiving their final permit in Mexico.
This 1,400-hectare property confirms a broadly mineralized low-sulphidation epithermal vein structure and over 25 northwest-trending gold mineralized zones along trend and near surface. With only 30% of the property’s identified mineralized zones drilled and assayed, the Company filed an updated Mineral Resource Estimate (MRE) in March 2023 based on a total 55,360 meters of drilled data, including 498 drill holes, 17 trenches and assays for 53,865 meters of the drilled data.
In October 2023, the Company filed a new Preliminary Economic Assessment (PEA) demonstrating the potential viability for a 9-year open pit, heap leach mining operation. Using a gold price of US $1,800 per ounce, the project has an after-tax net present value discounted at 5% (“NPV5”) of US $47.7M and an Internal Rate of Return (“IRR”) of 45%. Using a gold price of US $2,000 per ounce, the project has an after-tax NPV5 of US $77M and an IRR of 63%.
John and Ken review the potential for resource expansion, the bench strength and experience of the management team and board, the financial health of the company, the strong inside ownership and backing with even a private unsecured loan, and the plan to grow exploration and resource expansion through the organic revenues generated once the mine is put into production.
If you have questions for John and Ken regarding Sonoro Gold, then please email those into to me at Shad@kereport.com.
