Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) announced that it has entered into agreements to acquire 10 mineral concessions adjacent to its Cerro Caliche gold project in Sonora, Mexico, expanding the footprint of the development-stage asset.
The company said its wholly owned Mexican subsidiary, Minera Mar de Plata, executed assignment of rights agreements with two local vendors to acquire a 100% interest in the concessions, which are located along strike and contiguous with the northern and southern boundaries of the existing Cerro Caliche property. The vendors are at arm’s length to Sonoro.
Under the agreements, Sonoro will acquire an additional 2,574.16 hectares of mining concessions for total consideration of $4 million, payable in installments of $1 million per year over four years.
The company will also assume responsibility for approximately $570,000 in outstanding mineral concession fees. The transaction does not include the issuance of securities or the granting of royalty interests.
Following the acquisition, the Cerro Caliche project will comprise 25 contiguous mining concessions covering a total area of 3,924.26 hectares.
Sonoro said the expanded land package could extend known mineralized corridors to the northwest and southeast of the current project area.
“We believe the acquisition not only increases the project’s exploration potential but may also expand the known mineralized corridors in the northern and southern regions of the property,” Sonoro CEO Kenneth Macleod said in a statement.
“Our primary objective remains initiating production on Cerro Caliche’s central mineralized zones and utilizing generated cash flow for future exploration and potential resource expansion.”
The company filed a National Instrument 43-101 technical report in October 2023 outlining a preliminary economic assessment (PEA) for the Cerro Caliche project.
According to Sonoro, historical geological data from previous exploration programs, including drilling, rock sampling and soil sampling, covers several of the newly acquired concessions and was referenced in the PEA.
Sonoro noted that drilling conducted in 2011 by Paget Southern Resources, a subsidiary of Pembrook Mining, at the El Batamote area north of the El Rincón-Bellotoso zone identified geological characteristics and grades comparable to those within the existing project area.
The company said its review of drill logs and assays suggests potential structural continuity of mineralization. Historical mine workings and exploration on the newly acquired southern concessions also indicate possible extensions of known gold-bearing zones.
The Cerro Caliche project is currently in the final permitting stage for a proposed open-pit, heap-leach mining operation. The property hosts a low-sulphidation epithermal vein system with more than 25 northwest-trending, near-surface gold mineralized zones.
In November 2025, Sonoro began preparing an updated PEA based on drilling and assay data covering roughly 30% of the project’s identified mineralized zones. The company said it expects to complete the updated assessment in the first quarter of 2026.