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Sonoro Metals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 1112, 409 Granville Street
Vancouver, BC
Canada, V6C 1T2
Tel No.: 604-632-1764
Web Site: www.sonorometals.com
E-mail: info@sonorometals.com
Contact Person: Katharine Regan
Position: Corporate Secretary


Company Data

Traded Market: TSX-V
Traded Symbol: SMO
Outstanding Shares: 31,130,086
Fully Diluted: 39,005,086
52 Week High: $ 0.20
52 Week Low: $ 0.07
Present Price: Click Here


Introduction

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Sonoro Metals Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metals properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records in the discovery and development of natural resource deposits.

Mexico

  • 8th Global Gold Producer
  • 1st Global Silver Producer

Sonora State

  • 500 years of mining history
  • Pro-mining, stable, low political risk jurisdiction
  • Excellent Infrastructure and technical expertise
  • 25% of Mexico's mining output
  • 21% of State's GDP from mining
  • 1.24 million ounces of Gold Production (2015)
  • 12.7 million ounces of Silver Production (2015)


Projects in Hand

Cerro Caliche Gold Project

Sonoro has an option to acquire a 100% interest in the Cerro Caliche gold concessions strategically located between the two world-class mining districts of the Sierra Madre Gold Belt and the Sonoro-Mojave Megashear. Covering approximately 1,400 hectares, the concessions are close to Agnico Eagle's recently-acquired Santa Gertrudis mine, Premier Gold's Mercedes mine, and Goldgroup's Cerro Prieto mine. Sonoro commenced a 10,000 metre drilling program on the property in September 2018.

2018 Exploration Achievements

In 2018, Sonoro acquired the approximately 1,400 hectare Cerro Caliche concessions and commenced a rock chip sampling program, followed by the first phase of a 10,000 meter reverse-circulation drill program. Over 2,000 rock chip samples and 45 drill holes totaling 4,604 meters were completed and assayed.

Sonoro has also received and analyzed databases from other operators that conducted exploration on Cerro Caliche since 2007. These operators completed an aggregate of 116 drill holes totaling 12,442 meters of drilling and over 4,000 surface samples. The combination of historic and current exploration programs totals over 17,000 meters of drilling and over 6,000 surface samples and have been incorporated into Sonoro's database for analysis.

Sonoro's exploration program has successfully corroborated the sampling and drill results generated by the prior operators. A cluster of eight northwest trending gold-dominant mineralized zones have been identified and appear to be amenable to heap leach extraction. Drilling to date indicates an average of approximately 0.55 g/t gold through the mineralized intervals. Exploration continues at Cerro Caliche to define the potential for a commercial resource.

8 Gold Mineralized Zones:

Las Japoneses, Cabeza Blanca, Cuervos, Abejas, El Colorado, Guadalupe, El Quince and San Quintin.

2018 Phase One Drilling Highlights:

El Colorado: 12.19 meters grading 11.3 g/t AuEq; 4.57 meters grading 4.69 g/t AuEq

Cabeza Blanca: 12.19 meters grading 0.95 g/t AuEq

Guadalupe: 22.86 meters grading 0.77 g/t AuEq

2019 Technical Program

  • Technical Studies
    • NI 43-101 technical report for Phase 1 drilling
    • Mining resource study for pilot plant
  • Metallurgical Testing
    • Bottle roll testing of drilled zones
    • Column leach testing of drilled zones
  • Phase Two Drilling Program Commenced in March 2019
    • 5,000 meters reverse circulation drilling
    • Targets in 11 additional mineralized zones
    • Expand mineralization around high-grade zones
    • Infill drilling between Phase 1 drill zones
    • Investigate deeper potential

2019 Priorities for Cerro Caliche

  • Finalize NI 43-101 technical report for Phase 1 drilling
  • Define initial gold resource at Phase 1 drilled areas
  • Conduct metallurgical testing
  • Complete second phase of the 10,000 meter drill program
  • Produce Preliminary Economic Assessment (PEA)
  • Mining resource study for pilot plant
  • Drill identified mineralized targets to expand resource

San Marcial Gold-Silver Project

The 100% owned San Marcial project covers over 1,000 hectares and is located 20km east of Alio Gold's San Francisco mine inside the prolific Sonora-Mojave Megashear in Sonora State. The concessions encompass the sites of the original mine workings of the San Marcial and Soledad mines that were active in the early 1900s. Both mine areas have yielded samples showing high-grade gold and silver mineralization, with broader low-grade zones of disseminated to stockwork forms of mineralization.

Chipriona Project

Sonoro holds a 1% Net Smelter Returns royalty (“NSR”) on the Chipriona property sold to Agnico Eagle in 2017. Chipriona is located adjacent to Agnico's La India mine in the Mulatos Mining District. Agnico has an option to purchase the NSR for $1.5 million.

Company Highlights

  • Canadian junior public exploration and development company
  • Highly experienced management team in resource finance and development
    • Asia Pacific Resources
    • Western GeoPower Corp.
    • Crew Development Corp.
  • Highly experienced exploration team with proven track record in mineral discovery
    • El Colorado (Pediment-Argonaut)
    • San Antonio (Pediment-Argonaut)
    • Chipriona (Sonoro-Agnico Eagle)
  • Owns precious metals properties in the major mining districts of Sonora, Mexico
    • Cerro Caliche Gold Project
    • San Marcial Gold & Silver Project
    • Chipriona Gold Project (1% NSR)


Management

Management and Directors

John Darch, Chairman & Director

35 years experience in the identification, funding, exploration and development of mining and energy projects worldwide.

Kenneth MacLeod, President, Chief Executive Officer & Director

35 years experience as an entrepreneur, financier and executive officer in the resource sector in Mexico, Africa, Asia and North & South America.

Melvin Herdrick, P.Geo., Vice President of Exploration

45 years exploration and mining experience, including 10 years as Chief Geologist for Phelps Dodge, Mexico and 7 years as Vice President of Exploration for Pediment Gold Corp.

Jorge Diaz, Operations Manager, Mexico

25 years experience as a mining engineer for projects throughout Mexico, including development and construction of the Mulatos Mine and La Colorada Mine, both in Sonora State.

Steve Kenwood, P.Geo., Director & Qualified Person

25 years mineral exploration experience including Snip Mine (Cominco); Eskay Creek (Prime Exploration); Petaquilla Deposit, Panama (Adrian Resources).

Scott Kelly, B.Comm., Chief Financial Officer & Director

12 years public company senior management experience; formerly Vice President of Finance for Pediment Gold Corp.

Neil Maedel, Executive Director, Corporate Finance

Over 30 years experience in international venture capital financing for the natural resource sector.

Katharine Regan, Corporate Secretary

Over 25 years' experience in generating Business Development Programs across multiple industries in both the private and public sectors.

"Afar Insights: Bringing Impactful News Directly from Miners Afar" by InProved Investment Banking Services (dated March 28, 2019 on Sonoro's website)

InProved Investment Banking Services' "introductory" article about Sonoro Metals Corp.


News Update

On September 12, 2019, Sonoro Metals Corp. has a comprehensive program of three-dimensional (3-D) modelling, mapping and sampling currently under way at its Cerro Caliche gold project in Sonora state, Mexico. The program is a continuation of the Company's strategy of systematically exploring Cerro Caliche as it concurrently advances its proposed heap leach pilot operation (HLPO). Drilling to date continues to outline shallow, bulk tonnage gold mineralized zones with grades similar to operating heap leach mines in the region.

The Phase 1 & II exploration programs accomplished Sonoro's objective of identifying gold-silver mineralization which the Company believes will support the proposed HLPO, while at the same time indicating that considerable potential remains for the discovery of additional gold mineralization.

On September 03, 2019, Sonoro Metals Corp. announced that the company has entered into an agreement with New Tigers Technologies Ltd. (NTT), a wholly owned subsidiary of New Tigers Consulting Ltd. of Suzhou, Jiangsu province, China, where NTT will act as Sonoro's representative and establish a representative office for the company at NTT. A key NTT function will be to identify and introduce Sonoro to China-based engineering, procurement and construction ("EPC") companies considered to be a good potential fit for Sonoro's project requirement.

On August 2, 2019, Sonoro Metals Corp. announced that it has completed a non-brokered private placement of 4,167,000 units at a price of 18 cents per unit for gross proceeds of $750,060, previously announced on June 17, 2019.

Each Unit consists of one common share and one-half of a common share purchase warrant. Each Warrant entitles the holder thereof to purchase one common share of Sonoro at an exercise price of $0.27 and expires in one year.

On July 26, 2019, Sonoro Metals Corp. announced that it has filed the National Instrument 43-101 technical report for its Cerro Caliche gold project on SEDAR and on the Company's website.

On July 3, 2019, Sonoro Metals Corp. announced that it has received assays for the final 15 holes of the initial two-phase drill program at Cerro Caliche, bringing the total drilled by Sonoro to 10,328 metres over 96 holes. The program has confirmed gold mineralization identified by prior operators and substantially increased the dimensions of all the mineralized zones.

Highlights from the last 15 holes of the 10,328-metre program include:

  • Infill hole SCR-094 returned 1.154 grams per tonne (g/t) gold equivalent over 12.19 metres
  • Infill hole SCR-095 returned 0.791 g/t gold equivalent over 19.81 metres
  • Infill hole SCR-089 returned 0.657 g/t gold equivalent over 22.86 metres
  • Infill hole SCR-083 returned 0.747 g/t gold equivalent over 22.86 metres
  • Infill hole SCR-084 returned 0.704 g/t gold equivalent over 15.24 metres

On July 2, 2019, Sonoro Metals Corp. has released the results of its annual general meeting of shareholders held June 27, 2019, in Vancouver, B.C. At the meeting, shareholders approved all resolutions put before them by management, including the election of all director nominees, the reappointment of the auditor, the approval of the company's share incentive plan, and the cancellation and grant of stock options.

On June 28, 2019, Sonoro Metals Corp. was issuing this news release as a result of a review by the British Columbia Securities Commission (BCSC) to clarify its technical disclosure and, additionally, to clarify certain information posted at the Company's website related to its Cerro Caliche project located in Mexico.

On June 17, 2019, Sonoro Metals Corp. announced that it has arranged a non-brokered private placement of up to 4,167,000 units at a price of 18 cents per unit for gross proceeds of up to $750,060. Each unit will consist of one common share and one-half of a common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of Sonoro at an exercise price of 27 cents during the one year following the closing of the offering.

On June 3, 2019, Sonoro Metals Corp. has provided an update to studies under way regarding its proposed test heap leach pilot operation at Cerro Caliche, Sonora state, Mexico, in accordance with its fiscal advisory services agreement with Singapore-based InProved Pte. Ltd. Sonoro announced that it begins metallurgical testing at Cerro Caliche.

"We are proud of the high degree of skill and leadership demonstrated by our Hermosillo, Mexico-based technical team under the direction of VP Exploration, Mel Herdrick and Operations Manager, Jorge Diaz," said Kenneth MacLeod, President and CEO of Sonoro. "The launching of metallurgical testing and preliminary pilot-plant design in conjunction with the ongoing drilling program, will ensure that all the elements needed to create a successful project are being managed simultaneously."

In connection with the first work phase of its proposed Heap Leach Pilot Operation (HLPO) at Cerro Caliche, Sonoro reports that the results from its phase 1 and 2 drilling campaigns combined with drilling by other companies, have enabled the Company to outline sufficient oxidized, shallow, gold mineralization in the Japoneses-Cuervos zone, to sustain a pilot size operation, making it the planned mineralized material source for the HLPO.

Sonoro has engaged Geo Digital Imaging de Mexicoan (GDI), an independent engineering firm to develop the preliminary studies required to generate quality data for the development of the NI 43-101 compliant pre-feasibility study to assess the viability of the development of a heap leach plant at Cerro Caliche.

On May 28, 2019, Sonoro Metals Corp. reported the drilling at Cerro Caliche continues to confirm and expand the gold and silver mineralization within the Central zone and at several satellite zones previously identified by earlier drilling. Average gold grades of intervals reported are observed to be similar to existing heap leach mining operations in the region.

Highlights from the latest 20 holes of the Phase Two program reported here include:

Japoneses infill hole SCR-064 returned 1.257 g/t AuEq over 9.15m

La Espanola scout hole SCR-068 returned 6.179 g/t AuEq over 3.05m and 1.327 g/t AuEq over 9.14m

Guadalupe step-out hole SCR-061 returned 0.559 g/t AuEq over 15.24m

Chinos Altos scout hole SCR-069 hole returned 1.142 g/t AuEq over 7.6 m

Buena Suerte step-out hole SCR-062 returned 1.064 g/t AuEq over 10.67m & 0.742 g/t AuEq over 10.67m

On May 06, 2019, Sonoro Metals Corp. reported the recommendation article:
http://sonoropoints.inproved.com/
http://www.inproved.com/blog/14-points

On April 29, 2019, Sonoro Metals Corp. has encountered gold mineralization in all 60 holes that have been drilled and assayed to date from the reverse circulation program at the 100-per-cent-owned Cerro Caliche gold project in Sonora, Mexico. Highlights from the initial 15 holes of the phase 2 program reported here include:

  • Veta de Oro scout drill hole SCR-057 returned 2.728 grams per tonne gold equivalent over 10.67 metres, including 4.35 grams per tonne gold equivalent over 6.1 metres;
  • Veta de Oro scout hole SCR-056 returned 5.484 grams per tonne gold equivalent over 3.05 metres;
  • El Rincon scout drill hole SCR-047 returned 0.744 gram per tonne gold equivalent over 10.67 metres;
  • El Colorado infill drill hole SCR-045 returned 0.799 gram per tonne gold equivalent over 6.1 metres and 1.052 grams per tonne gold equivalent over 15.24 metres.

On April 3, 2019, Sonoro Metals Corp. announced that it has completed a non-brokered private placement of 3,615,104 units at a price of $0.18 per unit for gross proceeds of $650,718, previously announced on March 18, 2019.

The proceeds of the financing will be applied toward the continuation of the Phase Two drill program on its Cerro Caliche project in Sonora, Mexico.

On March 18, 2019, Sonoro Metals Corp. announced that the Company proposes to undertake a non-brokered private placement of up to 3,612,000 units at a price of $0.18 per unit, for gross proceeds of up to $650,160.

The net proceeds from the Offering will primarily be used by the Company for continued exploration on its Cerro Caliche project in Sonora, Mexico, as well as for general working capital purposes.


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