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Sonoran Desert Copper Corporation Amended Cuatro Hermanos Transaction
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2024) - Sonoran Desert Copper Corporati...
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[{"type":"text","content":"Sonoran Desert Copper Corporation Amended Cuatro Hermanos TransactionVancouver, British Columbia--(Newsfile Corp. - August 6, 2024) - Sonoran Desert Copper Corporation (TSXV: SDCU) (\"SDCU'' or the \"Company\") is pleased to announce that the Company has signed an amendment (the \"Amendment\") to the option to purchase a 100-per-cent interest in the Cuatro Hermanos Porphyry Copper Project (the \"4H Project\"), located in Sonora, Mexico, 185 kilometres southeast of Hermosillo.Under the Amendment, dated July 29th, 2024Original terms of the Option are detailed in the News Release dated February 9, 2023Payments reduced for years 2025 - 2027Expenditures reduced for years 2024 - 2027 to the amount required under Mexican regulationsMine Taxes reduced through the termination of the San Lorenzo concession from the 4H OptionUpdated Transaction DetailsTo exercise the Purchase Option, SDCU will now make cash payments to Minerales Y Yacimientos Mexicanos Sacramento, S.A. DE C.V. and complete work expenditures and make Mine Tax payments for a 100% ownership of the Cuatro Hermanos concessions, as per the following (all in USD):DateOld PaymentNew PaymentOld ExpendituresNew ExpendituresDecember 31 2023 $ 50,000 Paid $ 100,000 CompletedDecember 31 2024 $ 150,000 $ 150,000 $ 250,000 $ 66,019 December 31 2025 $ 200,000 $ 150,000 $ 500,000 Minimum RequiredDecember 31 2026 $ 200,000 $ 150,000 $ 1,000,000 Minimum RequiredDecember 31 2027 $ 200,000 $ 150,000 $ 1,000,000 Minimum RequiredDecember 31 2028 $ 5,062,500 $ 5,062,500 $ - Minimum RequiredTotals $ 5,862,500 $ 5,662,500 $ 2,850,000  DateMine TaxStatusDecember 31 2023 $ 183,771 Paid December 31 2024 $ 129,186 Paid December 31 2025 $ 70,000 Estimate  As a result of the Amendments, SDCU will reduce its required USD capital expenditures in 2024 and 2025 on the 4H Project, as per the following:Savings in 2024 $238,566Savings in 2025 (projected)$603,640 4H Project OverviewThe 4H Project is located in Sonora, Mexico, and comprises 9 concessions and contains a large porphyry copper-molybdenum system with surface measurements of at least four kilometres east-west by two kilometres north-south. The Company released a recent NI 43-101 report on the 4H Project in October 2023 which comprised a review of historical work. Historical resources were last estimated in 2008: To view a...