Sonoro Gold acquires adjacent concession in Mexico to expand Cerro Caliche project

The Canadian inferior miner said its wholly owned Mexican subsidiary, Minera Mar de Plata, purchased the 51-hectare concession from 4 section vendors for a one-time outgo of $600,000.

The woody does not see immoderate stock issuance oregon royalty obligations, and the vendors are astatine arm’s magnitude to the company.

The Diana concession is adjacent to the central-eastern bound of Cerro Caliche and is considered prospective arsenic a imaginable hold of northwest-trending mineralized corridors adjacent the historical El Batamote mine.

CEO Kenneth MacLeod said the institution had agelong identified the concession arsenic a people but sees accrued worth pursuing the caller bluish enlargement of Cerro Caliche, which present astir surrounds the Diana property.

“Combined with historical drilling data, the acquisition enhances the imaginable for the upcoming 50,000-metre drilling run to specify a larger assets astatine Cerro Caliche,” MacLeod said.

The drill programme volition see enlargement drilling astatine the recently acquired concession to trial for structural continuity crossed the broader task area, Sonoro said.

With the summation of Diana, Cerro Caliche present comprises 26 contiguous mining concessions covering astir 4,000 hectares, adding what Sonoro described arsenic high-potential exploration targets.

Cerro Caliche is presently successful the last permitting signifier for a projected open-pit, heap-leach golden operation. The task hosts aggregate near-surface, low-sulphidation epithermal golden zones distributed on northwest-trending structures.