Sonoro Gold files its preliminary economic assessment
Exploration upside
The exploration potential at is Cerro Caliche highlighted by the fact that Sonoro has defined just over 30% of known gold mineralised zones with drilling to date.
The PEA for Cerro Caliche was based on a NI 43-101 compliant pit-contained total mineral resources estimate of 440,000 ounces of gold equivalent at an average grade of 0.45 grams per tonne (g/t) gold equivalent.
Further upside to this resources base come from the exploration target* of 125,000 to 285,000 ounces of gold equivalent, at a potential average grade of 0.26 to 0.39 g/t gold equivalent.
This exploration target comes from a number of near-resource targets that have already been drill tested but require additional drilling to move the gold into resource ounces. Within the licence area there are numerous other targets that could add additional ounces on top of these exploration target ounces (Figure 2).
Figure 1 - Location of Cerro Caliche
Source: Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF).
Should additional exploration at Cerro Caliche just prove up the exploration target to further resources it would represent a 28% to 65% increase in the existing resource base used for the PEA, adding further upside to the project economics.
The Bellotoso and El Rincon Zones, located in the north region of the concession, have only been subject to initial drill testing to date, but these initial results demonstrate the presence of favourable rock types with epithermal style boiling textures indicating the potential higher-grade gold mineralisation (Figure 2).
*The potential quantity and grade ranges noted above are conceptual in nature and insufficient exploration has been conducted to define this material as a Mineral Resource. It is uncertain if further exploration will result in these exploration target estimates being delineated as Mineral Resources or converted to Mineral Reserves in the future.
Figure 2 - Gold-in-Soil Anomalies
Source: Sonoro Gold Corp.