Sonoro Metals – Gold & Silber – Exploration – Mexico – Efforts & Outlook
Sonoro Metals Corp (TSX-V: SMO; FSE: 23SP; ISIN: CA83569F2044) – Gold-/Silver Exploration in Mexico – First Skype Interview for the German investor community through GOLDINVEST.de.
President & CEO Kenneth MacLeod was giving a brief introduction of Sonoro and its various projects. It is very hard to acquire/gather land positions in Mexico in order to get a meaningful mineable size. That is why it has taken time for Sonoro, established in 2011, to come to this point. He was also outlining the various well-known gold companies in the neighbourhood.
The first 10,000 meter drill program on Cerro Caliche by the company has just been completed. Together with previous operators Sonoro has now got drill cores of 17,000 meters and 6,000 surface samples for analysing.
Though relatively low gold grades a very large tonnage of ore is expected there. This very typical of this area, and the operating mines in the surroundings have been coping with that on profitable levels. In fact, the ore from Cerro Caliche is open-pitable and heap-leachable. The ore from the other project San Marcial may even contain slightly higher gold grades of up to 1 g/t.
Sonoro is still funded for further drilling, so that an internal resource calculation and a Preliminery Economic Assessment (PEA) should be completed by May 2019. Mid and long term target for the company is getting an official gold resource from both projects of up to 1 million ounces. But, further capital is required to come to that stage.
The third project is a royalty, sold to Agnico Eagle, derived from gold production on Chipriona. This should bring cash to Sonoro sooner or later. The explorer also possibly finds strategic partners. Various gold mines in the 50 km surroundings may be getting hungry of gold ore from Sonoro.
