- Sonoro Gold (SGO) has announced assay results from its Phase 3 drill program at the Cerro Caliche gold project
- These are assay results from the final nine RC drill holes
- The most recent drill results indicate a coalescence of two zones over a minimum length of 400 metres
- These results could have significant and positive economic implications for Sonoro Gold’s Heap Leach Mining Operation
- Following the results, the company will move forward with two independent NI 43-101 technical reports, which are scheduled to be filed in July
- Shares of Sonoro Gold were down 3.57 per cent to C$0.27 as of 3:11 p.m. EDT
Sonoro Gold announced it has completed the third phase of its drilling program at its Cerro Caliche gold project in Sonora State, Mexico.
This phase of the drilling program included assay results from the final nine RC drill holes, which investigated the potential merging of the Japoneses and Buena Suerte zones into a single body of shallow oxide gold mineralization.
As such, the results from this stage of the program indicated a coalescence of the two zones over a minum length of 400 metres.
Additionally, these could have significant and positive economic implications for Sonoro Gold’s proposed Heap Leach Mining Operation (HLMO).
Following these drill results, two independent NI 43-101 technical reports will be filed in July, which will decide whether or not the identified mineralization can support HLMO with an initial operating capacity of up to 15,000 tons per day.
The company has drilled and assayed results from over 34,500 metres of drilling, which includes 25,000 metres of new drilling since September of lat year.
“I am pleased that these latest drill holes show the area between the two gold bearing zones, which was previously considered barren, does in fact carry gold mineralization. It is a very encouraging ending for what has been a very effective drill program,” Mel Herdick, vice president of exploration at Sonoro, said in a press release.
Together with historical data, total exploration at the property totals over 47,500 metres with 433 drill holes and 9,365 surface samples.
“We have reached a watershed juncture in the development of Sonoro, as we are now making the transition from an exploration company to our aspirational goal of becoming a gold producer in early 2022. We are grateful for the support of our shareholders over the past three years as we strive to make Cerro Caliche the next mining success story in Mexico,” Kenneth MacLeod, president and CEO of Sonoro, said in a release.
Following the announcement, shares of Sonoro were down 3.57 per cent to C$0.27 as of 3:11 p.m. EDT .