since Sonoro Gold (WKN A2QCST / TSXV SGO) was able to raise around $ 8 million in fresh capital in August, the drills on the Cerro Caliche gold and silver project in Mexico are turning non-stop – and with success. Because the latest drilling results not only produce increasing gold grades, but also expand the expansion of gold mineralization considerably!
Up-to-the-minute, Sonoro is presenting the latest results from the drilling testing of Cerro Caliche for near-surface gold and silver mineralization. 201,000 ounces in the inferred category has been proven so far, but if you look at the drill results for the past week and months, as well as today’s results, there should be no doubt that the resource should be significantly higher in the next estimate!
Promising ore zones are growing together
According to Sonoro, for example, the results from the El Rincón zone show that this is an extension of the Veta de Oro zone, which is located one kilometer to the southeast. The company came across El Rincón at 20.95 meters with an average of 0.847 g / t gold equivalent (AuEq) and 21 meters with an average of 1.13 g / t AuEq, including 2.9 meters with an average of 4.55 g / t AuEq! As early as late April, Sonoro had reported 10.67 meters averaging 0.744 g / t AuEq from this area and the company believes that along with two of the four core holes drilled at El Rincón, they are very similar to the drill intercepts consist of Veta de Oro.
Future drilling at El Rincón will accordingly be headed southeast at Veta de Oro to test the extent of the zone in that direction.
On Veta de Oro itself, Sonoro drilled two holes which revealed that the mineralization is on strike in the El Rincón zone. In the southern part of Veta de Oro, Sonoro encountered 1.1 meters at 1.11 g / t AuEq, while the second well approximately 100 meters northwest towards El Rincón returned 16.25 meters at 0.741 g / t AuEq. Among them were three meters with even 2.11 AuEq! These findings, the company said, complement previous test holes that averaged 10.67 meters at 2.728 g / t AuEq (including 6.1 meters at 4.35 g / t AuEq) and 3.05 meters averaging 5,484 g / t AuEq exhibited.
All of this means that the El Rincón – Veta de Oro gold mineralized zone, which remains open on strike to the northwest, also extends an additional 500 meters southeast to the Abejas zone, ultimately resulting in a mineralized vein system approximately 2 kilometers long!
Successful determination wells
Sonoro Gold is drilling on the 1.3 kilometer long gold mineralized zone in Japan in order to determine the ore body more precisely – and that too, apparently successfully. As the company announced, the ore body continues to increase after the most recent four drill holes revealed long stretches of gold mineralization from the surface!
The highlights of these holes were 21.33 meters averaging 0.58 g / t Au and 24.38 meters averaging 0.748 g / t Au – of which 21.34 meters averaging 0.81 g / t Au and 6.1 meters with 2.02 g / t Au! Interesting: The area explored by this and two other nearby holes is not part of last year’s resource estimate.
The Buena Suerte gold mineralized zone is becoming increasingly important to Sonoro, where drilling continues to confirm the potential expansion of the mineralization in both directions along strike. To the southeast of the zone, Sonoro intersected 12.19 meters averaging 0.41 g / t AuEq. In parallel, access roads and drilling sites were established in the northwest portion of the zone to test the northwest extension along strike from a hole previously reported that returned 45.72 meters averaging 0.97 g / t Au, including 15.24 meters average 2.1 g / t Au!
Full drill results can be found in the company’s press release.
Air track percussion drilling is designed to expand gold target areas
Sonoro has also recently started performing low-cost percussion drilling to test for near-surface mineralization to depth and identify promising areas for further drilling. Rapid progress can be made here as three such wells can be completed per day, with samples being taken 1.5 meters apart for analysis.
Resource update and PEA are being pushed forward
All this work at Sonoro Gold serves to achieve the conceptual goal of accelerated development of Cerro Caliche – with the ambitious goal of being able to start gold production as early as the end of 2021! Before that, there are still important hurdles that have to be overcome, including the satisfactory completion of metallurgical tests, environmental permits, a positive PEA (first profitability study) and the project financing.
Sonoro Gold has now taken an important step on this path and hired two independent companies to prepare the technical reports on the planned heap leach operation (planned capacity 8,000 tons per day) that meet Canadian standards!
So D.E.N.M. Engineering Ltd. Prepare a NI 43-101 compliant initial economic assessment (PEA), which also includes the coordination of the ongoing metallurgy tests, as well as the preparation – in cooperation with Micon International Limited – of a new resource estimate. The latter should be completed together with the metallurgical tests in the second quarter of 2021. The new resource is expected to contain all previous and current drilling through December this year.
Sonoro didn’t just work for D.E.N.M. and Micon decided because they are well-known and respected companies, but also because both companies have experience specifically in evaluating gold projects in the Mexican state of Sonora and northern Mexico.
The latest drill results from Cerro Caliche once again demonstrate the continuity of gold mineralization along each of the major parallel zones that have been explored to date. The Rincon, Veta de Oro and Abejas Zones are now more than 2 kilometers in continuous length and the Japoneses Zone is more than 1.3 kilometers of continuous mineralization. In addition, the recently discovered, higher-grade Buena Suerte zone has now also been verified over a length of 450 meters. It is safe to say, in our view, that the next resource estimate will contain significantly more than the previous 201,000 ounce gold equivalent. Especially since the most recently drilled grades are often above the average 0.495 g / t gold from the existing resource estimate.
These higher levels should also be positively reflected in the PEA, the creation of which has now been initiated – like the new resource estimate. Incidentally, we also consider it positive that Sonoro Gold is taking this seriously and that it seems to be doing everything it can to achieve its goal of gold production by the end of 2021. As Sonoro Chairman John Darch puts it, the next 12 months could prove to be exceptionally rewarding for Sonoro and its partners.
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