Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP),
(“Sonoro” or the “Company”), announces the completion of a
comprehensive technical assessment on the 17 zones of gold
mineralization identified to date at its Cerro Caliche project in
Sonora, Mexico. The purpose of the assessment was to evaluate the
potential for a material increase in the current 201,000 oz AuEq
resource as well as the potential to delineate further resources
throughout the mineralized zones. A program combining reverse
circulation and core drilling for up to 50,000 meters of drilling
will be carried out in several phases.
The next phase, Phase III, targeting
approximately 10,000 meters of drilling, will commence in March
2020.
In Phases I and II of the drilling program, a
total of 96 holes totaling 10,328 meters were drilled and assayed
for an average drill hole length of 107.6 meters, all inclined. The
combination of historic and current exploration drilling totals
23,679 meters in 212 drill holes, in addition to more than 6,000
surface samples. Drilling to date has outlined shallow, bulk
tonnage gold mineralized zones with grades similar to operating
heap leach mines in the region.
In addition to the continuation of reverse
circulation drilling, core drilling will also be employed during
Phase III to more accurately determine the dimensions of the
gold-mineralized geologic structure. These mineralized structures
are common within the shallow gold-silver resource partially
defined by the recent reverse circulation drilling.
Furthermore, core drilling will be employed to explore the
potential for higher-grade gold mineralization in the vein zones
that structural analysis asserts may be present at greater depths
within the veins. In general, mineralization models indicate that
deeper parts of low sulfidation epithermal deposits are more likely
to contain higher-grade precious metals.
Silver/gold ratios vary with physical elevation
within the mineralized vein zones. These silver/gold ratios can be
used to determine the vertical position of specific mineralization
within the structure. An example of this is found in drill hole
SCR-044 in the El Colorado zone, where the mineralized intercept at
the lowest elevation contains 12.2 m of 11.3 g/t AuEq and a
silver/gold ratio of 0.4. This contrasts with drill hole SCR-057 in
Veta de Oro, where an intercept located at a 150-meter higher
elevation recorded 6 m of 132.6 g/t Ag and 2.5 g/t Au, resulting in
a silver/gold ratio of 54. Other metal ratios, mineralogy, and
physical characteristics relating to elevation are being
investigated to select higher-grade targets throughout Cerro
Caliche’s large database.
“We are particularly encouraged by the fact that
the initial 201,000-ounce gold resource is situated within a
surface area comprising under 10% of the total property area,” said
Kenneth MacLeod, President and CEO of Sonoro. “Also, only 30% of
Cerro Caliche’s known regions of potential gold mineralization have
been drilled. Essentially all of the 17 zones of gold
mineralization so far identified at Cerro Caliche remain open to
expansion along strike and new zones of gold mineralization are
currently being discovered in previously unexplored regions of the
property.”
The proposed drilling program has been designed
to optimize the current data from each of the zones of gold
mineralization. This ensures that the placement and angulation of
the new holes will likely contribute to a potential increase in the
size of the resource and develop a greater understanding of the
geological structure within the shallow zones and to depth. Drill
holes will be placed at a maximum spacing of 100 meters to enable
proper classification of the results. Sequencing of drilling for
each individual zone is currently being finalized. For more details
on the proposed drilling program, click here.
The drilling proposals for each mineralized
sector are as follows:
Central Zone: Japoneses – Curvos, Abejas
– Chinos and Altos – Chinos NW Zones
The Japoneses-Cuervos zone hosts over 90% of the
inferred 201,000 oz AuEq resource stated in the previously
published NI 43-101 technical report dated July 26, 2019.
Intercepts with grades up to 37.44 m of 0.95 g/t AuEq and 9.15 m of
1.26 g/t AuEq were encountered. Drilling at the Japoneses-Cuervos
zone accomplished the Company’s objectives of identifying an area
of gold mineralization to support a proposed Heap Leach Pilot
Operation, while simultaneously confirming the potential for
discovery of additional gold mineralization within the zone.
A total of 88 additional reverse circulation
holes totaling 9,880 meters are proposed for infill drilling at the
Japoneses-Cuervos zone, with the goal of augmenting the current
size of the gold resource as well as upgrading this resource to the
indicated category.
An additional 42 reverse circulation holes
totaling 10,770 meters and eight core holes totaling 3,100 meters
are also proposed to investigate the expansion of the zone.
Mineralization at the Japoneses-Cuervos zone remains open to
extension in all directions and to depth including the potential to
intercept the adjacent zones of Abejas, Chinos Altos, and Chinos NW
and create an expanded open pit profile.
Western Zone: Cabeza
Blanca – Guadalupe – El Colorado and Buena Suerte – El Quince
Zones
Drilling to date in the Western Zone has
identified gold mineralization extending over 1.2 kilometers, with
a width of up to 250 meters. Intercepts of 12.19 m of 11.3 g/t
AuEq; 15.24 m of 1.05 g/t AuEq; 4.57 m of 4.69 g/t AuEq; and 22.86
m of 0.77 g/t AuEq were encountered. This mineralization at the
Western Zone remains open to extension along strike to the north
and south and to depth.
An additional 20 reverse circulation holes
totaling 3,720 meters are proposed to augment the data from the 28
holes drilled to date in the Cabeza Blanca – Guadalupe – El
Colorado portions of the Western Zone. The program will incorporate
infill and expansion drilling with a maximum spacing of 100 meters
between holes to enable the calculation of a potential initial
inferred resource.
The Buena Suerte – El Quince zones, which are
located between the Cabeza Blanca and Japoneses zones, will be
allocated 22 additional reverse circulation holes totaling 4,380
meters over a potential strike length of 1.5 kilometers. Four holes
have been drilled to date at Buena Suerte and one hole has been
drilled at El Quince. All holes intercepted gold mineralization
with an intercept of 10.67 m of 1.06 g/t AuEq encountered at Buena
Suerte.
North-Central Zone: Veta de Oro –
Boludito Zones
An additional 19 reverse circulation holes
totaling 4,350 meters and six core holes totaling 2,150 meters are
proposed for the North-Central zone, with a focus on the Veta de
Oro gold mineralized area. Higher-grade gold and silver intercepts
from three reverse circulation holes drilled at Veta de Oro over a
200-meter strike length, suggest the potential for a higher-grade
mineral resource. Intercepts at Veta de Oro include 10.67 m of
2.728 g/t AuEq; 6.09 m of 4.35 g/t AuEq; 9.14 m of 2.094 g/t AuEq;
and 3.05 m of 5.484 g/t AuEq.
The proposed drilling program will also
investigate the potential for the Veta de Oro zone to connect with
the on-strike Abejas zone to the southeast as well as the potential
for the for El Boludito zone to connect with the on-strike
Japoneses zone, also located to the southeast, projecting the
strike length of the combined Cuervos-Japoneses-Boludito zone to an
estimated at 1.5 kilometers.
Northwest Zone: El Rincon – Gloria
Zones
Located on-strike approximately 1.5-kilometers
northwest of the Central Zone, the Gloria and El Rincon gold
mineralized areas within the Northwest Zone present an opportunity
for defining a potential resource measuring 500 meters by 250
meters. A total of nine holes have been drilled to date with
intercepts at El Rincon of 10.67 m of 0.74 g/t AuEq and 4.57 m of
1.29 g/t AuEq.
An additional 40 reverse circulation holes
totaling 8,725 meters and five core holes totaling 1,900 meters at
a maximum 100 meters spacing between holes are proposed. The
intension is to determine the gold mineralization potential at El
Rincon and Gloria as well as to investigate a potential connection
along strike with the Central Zone to the southeast.
Southeast Zone: La Española – Magdalena
– Abel – Tres Naciones Zones
La Española is located approximately one
kilometer southeast of the Central Zone. Recent mapping and
sampling by Sonoro have identified several high-probability gold
targets to the north and east, at La Magdalena, Abel and Tres
Nacions. To date, four holes have been drilled at La Española, with
intercepts of up to 9.14 m of 1.327 g/t AuEq.
An additional 12 reverse circulation holes
totaling 2,380 meters and one core hole targeting a 350-meter depth
over a combined one-kilometer strike length are proposed for La
Española and La Magdalena. To confirm the potential of Abel and
Tres Naciones, an aggregate of 14 reverse circulation holes
totaling 3,250 meters and seven core holes totaling 2,725 meters
are proposed.
Ongoing mapping and sampling programs have
identified additional high-probability target zones within both the
eastern and southeastern regions of the Cerro Caliche property.
Following completion of the sampling program, Sonoro anticipates
the inclusion of these targets in future drilling programs.
Southern Zone: San Quintin – La Ventana
Zones
Located on-strike approximately 500 meters south
of El Colorado, the gold mineralized zones at San Quintin and La
Ventana will be investigated with a proposed ten reverse
circulation drill program totaling 2,200 meters.
Statement of Qualified
Person
Stephen Kenwood, P. Geo., 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
gold mineralization in the concessions held by the Company.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a publicly listed
exploration and development company with two precious metal
properties in Sonora State, Mexico. The company has highly
experienced operational and management teams with proven track
records for the discovery and development of natural resource
deposits.
On behalf of the Board of SONORO METALS CORP. |
Per: |
“Kenneth MacLeod” |
|
KENNETH MACLEOD |
|
President & CEO |
For further information, please contact:
Sonoro Metals Corp. - Tel: (604) 632-1764 Email:
info@sonorometals.com
Forward-Looking Statement Cautions: This press
release contains certain "forward-looking statements" within the
meaning of Canadian securities legislation, relating to, among
other things, the Company's plans for the drilling of the
above-described Cerro Caliche Concessions, located in the
municipality of Cucurpe, Sonora, Mexico, and the Company’s future
exploration plans for those properties. Although the Company
believes that such statements are reasonable based on current
circumstances, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are statements that
are not historical facts; they are generally, but not always,
identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "aims,"
"potential," "goal," "objective," "prospective," and similar
expressions, or that events or conditions "will," "would," "may,"
"can," "could" or "should" occur, or are those statements, which,
by their nature, refer to future events. The Company cautions that
forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made and they involve a number of risks and uncertainties,
including the possibility of unfavourable interim exploration
results, the lack of sufficient future financing to carry out
exploration plans, and unanticipated changes in the legal,
regulatory and permitting requirements for the Company’s
exploration programs. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law or the policies of the TSX Venture
Exchange. Readers are encouraged to review the Company’s complete
public disclosure record on SEDAR at www.sedar.com.
THIS PRESS RELEASE DOES NOT CONSTITUTE
AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL
THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION
IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR
TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY
SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the
adequacy or accuracy of this release.
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