Sonoro Gold Secures 70% Ownership of Cerro Caliche Project, Advances Toward Mining Operation [Video]

Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) CEO Kenneth Macleod joined Steve Darling from Proactive to share news the company has finalized the Purchase and Promise Agreement to acquire a 70% interest in the Cerro Caliche Group of Concessions in Sonora, Mexico. Macleod detailed that the acquisition covers 67% of the project’s total surface area, solidifying Sonoro’s control over this promising gold asset. The agreement, valued at US $2.98 million, includes a 2% net smelter returns (NSR) royalty, which Sonoro has the option to repurchase.

With the final payment completed, Sonoro now holds a 100% interest in the Cerro Caliche concessions, spanning 15 contiguous mining concessions over 1,350.10 hectares. Macleod highlighted the company’s next steps: “We’re in the permitting phase for an open-pit, heap leach mining operation, aiming for an initial production capacity of 12,000 tonnes per day. This operation is expected to generate cash flow to fund the exploration of the remaining 70% of the project’s …