Sonoro Gold expands Cerro Caliche footprint with 29-concession acquisition in Sonora

Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF, FRA:23SP) said connected Tuesday its Mexican subsidiary has signed 3 binding letters of intent to get interests successful 29 mineral concessions adjacent to its Cerro Caliche golden task successful Sonora, Mexico, successful a determination the institution says could uncover a larger epithermal golden system.

The deals, signed by wholly owned subsidiary Minera Mar de Plata with 2 arm's-length Sonora residents, screen a 100% involvement successful 24 concessions spanning 5,025 hectares for US$6 cardinal payable implicit 20 months, positive the presumption of astir US$990,000 successful outstanding concession fees, with nary securities issued oregon royalty interests granted.

A 3rd missive of intent grants the subsidiary an enactment to gain up to a 51% involvement successful 5 further concessions covering astir 454 hectares, done US$9 cardinal successful exploration expenditures implicit 4 years, astatine a complaint of 12.75% involvement earned per US$2.25 cardinal spent.

The acquisitions would grow the Cerro Caliche spot from astir 4,000 hectares to 9,001 hectares, with a further 454 hectares accessible done the imaginable 51% stake.

"This acquisition has the imaginable to physique Cerro Caliche into a larger-scale golden mining task with aggregate large mineralized zones stretching from the Agnico Eagle Santa Gertrudis deposit to the northbound down each the mode to the Highlander Silver Mercedes Mine to the southeast," said Kenneth MacLeod, Sonoro’s CEO.

Sonoro said its exploration squad is reviewing astir 30 years of humanities information crossed the 24 caller concessions, including ungraded and stone geochemical samples, drilling campaigns and geophysical surveys. The institution said the caller crushed whitethorn stock akin geological and structural characteristics to those identified astatine Cerro Caliche, and that humanities drilling information suggests the 5 optioned concessions could big extensions of the project's known northwest-trending mineralized corridors.

Cerro Caliche is presently successful the last permitting signifier for a projected open-pit, heap leach mining operation. A 2026 preliminary economical appraisal based connected a golden terms of US$3,500 per ounce outlines an after-tax nett contiguous worth of US$224 cardinal and an interior complaint of instrumentality of 50% for a ten-year, 16,000-tonne-per-day operation.

Completion of the transactions remains taxable to owed diligence and the execution of definitive agreements.