Sonoro Issues Revised Cerro Caliche Project Development Report
VANCOUVER, British Columbia, May 26, 2020 (GLOBE NEWSWIRE) -- Sonoro Metals Corp., (“Sonoro” or the “Company”) (TSXV: SMO) (OTCQB: SMOFF) is pleased to report that it has published a revised version of its Cerro Caliche Project Development Report dated May 22, 2020 (the “Revised Report”). As disclosed in its press release of May 13, 2020, as a result of a review by the British Columbia Securities Commission, the Company withdrew an April 28, 2020 version of this project development report as it contained certain technical disclosures that did not comply with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The Revised Report, which is not a technical report as defined by NI 43-101 and should not be considered as such, has been updated to address those disclosure issues and is now available on the Cerro Caliche project page of the Company’s website:
https://sonorometals.com/wp-content/uploads/2020/04/Cerro-Caliche-Project-Development-Report-2020-21-1.pdf
Based on the methodologies and modelling set out in the Revised Report, the Company believes that the 50,000 meters of drilling planned for 2020 and 2021 will enable the Company to not only outline additional gold and silver mineralization where zones of mineralization are currently open in one or more directions, but also to evaluate 16 surface defined gold mineralized zones that have not previously been drill tested. Drilling will include both infilling the zones that were previously drilled as well as a large number of holes to test undrilled portions of the various mineralized trends along strike and at depth.
The proposed drilling program has been designed to test the exploration target of between 75,000,000 to 100,000,000 tonnes with grades potentially between 0.3 g/t to 0.5 g/t AuEq. The potential tonnages and grades set forth in the analysis of geological potential are conceptual in nature, as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Good exploration potential exists in what has been interpreted to be the boiling zone, or favorable zone, which was better defined in the Revised Report. Analysis of higher grade chip samples taken by the Company over an area of 4 kms by 3 kms were restricted to elevations between 1,100 masl to almost 1,700 masl; most of these samples ranged from 4 g/t to 25 g/t gold with a high of 95 g/t (NI 43-101 Report on the Cerro Caliche Gold Project, July 26, 2019). This data will assist in planning holes to target high grade intercepts in areas where previously tested trends are open at depth or along strike. Additionally, there is exploration potential for additional gold and silver targets on the property that have been discovered by prospecting, mapping and rock chip sampling and have yet to be drill-tested.
The Company has also updated its corporate presentation available on the “Investors” page of its website.
All scientific and technical information contained in the Revised Report, the corporate presentation, and this press release has been reviewed and approved by Stephen Kenwood, P.Geo., a Director of Sonoro Metals Corp., who is a "qualified person" as defined in NI 43-101.
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 50,000 meters of 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.
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