Cerro Caliche may become a next gold mine, similar to Premier Gold and Argonaut
Asset Identifiers of Sonoro Metals: ISIN: CA83569F2044 – TSX-V: SMO – FSE: 23SP
Mel Herdrick, VP from Sonoro Metals, was giving MMC NEWS an interesting overview about history and geology of various projects in Mexico’s Sonora region. He is a very experienced exploration geologist with an outstanding track record.
The company’s flagship project Cerro Caliche has defined over 200,000 ounces so far composed by relatively low grade but shallow gold equivalent. Sonoro is now carrying out a further drill program of 6,000 – 7,500 metres, mainly deep drilling, on this site. Short- and mid-term goals are expanding the existing gold resources up to 500,000-600,000 ounces and then moving up to 1 – 1.2 mio. gold ounces. Starting early gold production and growing gold inventory slowly but surely using own cashflow are methods Premier Gold and Argonaut Gold were applying before becoming the big Mercedes and the La Colorado gold mines. The Mercedes gold mine is now a high grade underground mine but started as a low grade open pit Heap Leach operation. The Sonora region supposed to host one of the largest epithermal shallow low sulphidized gold systems Mel has come across, he said.
More investors than expected must have seen this potential of Sonoro Metals and its Cerro Caliche project since the last capital raise was initially announced for 5 mio. CAD and must have been closed with 8 mio. CAD.
