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Sonoro Gold Corp
Symbol SGO
Shares Issued 102,300,593
Close 2021-07-20 C$ 0.335
Market Cap C$ 34,270,699
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Sonoro Gold samples 5.5 m of 6 g/t Au at Cerro Caliche

2021-07-20 09:23 ET - News Release

Mr. Kenneth MacLeod reports

SONORO GOLD REPORTS SURFACE SAMPLING MATERIALLY EXTENDS OXIDE GOLD MINERALIZED ZONES & ANNOUNCES PRIORITY TARGETS FOR FALL 2021 DRILL CAMPAIGN

Sonoro Gold Corp. has released assay results from surface sampling recently completed at the company's Cerro Caliche gold project, located in Sonora state, Mexico. The results confirm material extensions of several of the project's oxide gold mineralized zones and demonstrate linear structural corridors of anomalous gold, silver and base metal mineralization.

This continuing surface sampling program will be part of the foundation for the coming drilling program designed to materially expand and categorize the project's oxide gold mineralization.

Highlights

  • Collected 1,292 soil and surface rock samples from several well-defined vein and gold mineralized, structural corridors;
  • Surface sampling methods consist of continuous chip sampling perpendicular across measured veins and wall rocks;
  • Confirmed 600-metre southern extension of the El Colorado-La Ventana corridor; assay results returned 23.7 metres averaging 1.7 grams of gold per tonne, including 5.5 metres averaging six g/t Au and eight metres averaging 0.6 g/t Au;
  • Confirmed 750-metre southern extension of the Buena Suerte-San Quintin corridor; assay results returned 52.6 metres averaging 0.2 g/t Au, including 2.6 metres averaging 2.2 g/t Au, eight metres averaging 0.8 g/t Au and one metre averaging 9.4 g/t Au;
  • High silver content identified at La Magdalena from the northeastern La Magdelena-La Espanola corridor; assay results returned one metre averaging 1,230 g/t Ag with 6.6 g/t Au.

Sampling will continue to focus on near-surface mineralized structures which outcrop from thick soil and alluvium and are associated with detailed geological mapping completed in preparation of the coming drilling program, scheduled to commence in the fall of 2021. To date, the company has drilled and assayed results from over 34,500 metres of drilling, including a 24,221-metre phase III drill program completed in the spring of 2021. When combined with historical data, total exploration at Cerro Caliche totals over 47,500 metres, 433 drill holes and 9,365 surface samples.

Drilling activities on the concession have been paused since May, 2021, pending financing and to provide the exploration team sufficient time to ensure all data and assistance were available for the completion of two independent National Instrument 43-101 technical reports, scheduled to be filed by mid-August, 2021. As previously announced, the company engaged Micon International Ltd. to prepare an updated technical report and D.E.N.M. Engineering Ltd. to prepare a preliminary economic assessment (PEA).

These reports are expected to expand the resource size and upgrade the classification of Cerro Caliche's identified mineralization and confirm if it is sufficient to support the company's proposed HLMO with an initial operating capacity of up to 15,000 tons per day.

Exploration at Cerro Caliche has identified a broadly mineralized low-sulphidation epithermal vein structure and the presence of multiple northwest trending gold mineralized zones along trend and near surface. As discussed in the company's revised Cerro Caliche project development report (PDR) and announced in a related news release date May 26, 2021, the current exploration program was designed to test an exploration target of between 75 million to 100 million tonnes with grades potentially between 0.3 g/t to 0.5 g/t gold equivalent (AuEq). This is in addition to the estimated inferred resource of 11.5 million tonnes at an average grade of 0.495 g/t gold and 4.3 g/t as stated in the initial NI 43-101 technical report filed in July, 2019.

The reader is cautioned that the potential tonnages and grades in the PDR are conceptual in nature, as at the time of the report's issue there had been insufficient exploration to define a mineral resource and it was uncertain if further drilling would result in the target being delineated as a mineral resource.

With a limited amount of the property's mapped gold mineralized zones having been drilled and assayed to date, the coming drilling program will strategically target a 750-metre zone along the southern extensions of the El Colorado-La Ventana and Buena Suerte-San Quintin corridors where extensive surface samplings and geological mapping suggests the potential for material expansion of the oxide gold mineralization.

Mel Herdrick, Sonoro's vice-president of exploration, noted: "The sampling and mapping program is producing important new data that, when added to Sonoro's database, significantly assists our ability to locate drill targets and prioritize our drilling, which is anticipated to resume this fall. Previous drilling intercepted gold mineralization in most holes, demonstrating a very good success rate, which I expect will continue in the mineralized zone corridors. I also expect that ongoing sampling at the higher ridge zones to the northeast will show a continuation of gold mineralization that has been previously defined, and as it does, it should lead to additions of mineralized material, especially at El Bellotoso and El Desprecio, as well as La Espanola."

Kenneth MacLeod, Sonoro's president and chief executive officer, added: "The sampling data cited in this news release, together with the additional sampling awaiting assaying, will be instrumental in supplementing recommendations for future exploration to be outlined in the upcoming PEA, anticipated to be released in August. Sonoro is scheduling the next phase of drilling to commence this fall."

John Darch, Sonoro's chairman, commented: "This sampling program and the highly encouraging results are one of the key components of management's strategy to develop the conceptual heap leach mining operation and, if successful, to use the cash flow to fund our ongoing drilling program and continue expanding already known gold resources and the proposed mine's rate of production. Our efforts to date have tested barely 20 per cent of the known mineralized zones and I look forward to reporting to our shareholders additional results from this program as well as our upcoming drilling program."

Quality assurance/quality control measures and analytical procedures

Samples are collected as continuous chip samples by hand into plastic bags, GPS positions and rock descriptions noted; the bags are numbered using ALS-Chemex bar code number books, then sealed and taken to secure storage in Cucurpe village near the project.

Company personnel transport those bagged samples directly to the preparation laboratory of ALS-Chemex in Hermosillo, Sonora. At the preparation laboratory, samples are logged into ALS-Chemex system using bar code labels, opened, then reduced in size through crushing, splitting and pulverization. About 200 grams of each sample are sent by ALS-Chemex to its Vancouver, Canada, laboratory where samples are individually dissolved in aqua regia for multielement ICP (inductively coupled plasma) analysis, including silver. Thirty grams of each pulverized sample are split apart in that laboratory and undergo a fire assay for gold content by reducing the fire assay to a concentrated button of material that is dissolved in acids and, from the solution, the gold content is determined by atomic absorption. Quality control standards were inserted by the ALS-Chemex, Vancouver, B.C., laboratory.

No QA/QC issues were noted with the results received from the laboratory.

Geologic description

Cerro Caliche is located 45 kilometres east-southeast of Magdalena de Kino in the Cucurpe-Sonora megadistrict of Sonora, Mexico. Multiple historic small underground gold mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora megadistrict include variants of epithermal low-sulphidation veins, and related mineralized dikes and associated volcanic domes. Local altered and mineralized felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.

Qualified person statement

Stephen Kenwood, PGeo, a director of Sonoro, is a qualified person within the context of National Instrument 43-101, and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of economic gold mineralization in the concessions held by the company.

About Sonoro Gold Corp.

Sonoro Gold is a publicly listed exploration and development company holding the near-development-stage Cerro Caliche project and the exploration-stage San Marcial properties in Sonora state, Mexico. The company has highly experienced operational and management teams with proven records for the discovery and development of natural resource deposits.

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