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Sonoro Gold Announces Positive PEA Results and Updated Mineral Resource Estimate for the Cerro Caliche Gold Project Which Demonstrates a Pre-Tax NPV of US$68.7 Million and an IRR of 52.7%
VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased
About this update from Sonoro Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report the results of an independent Preliminary Economic Assessment (“PEA”) including an updated Mineral Resource Estimate completed on the Company’s Cerro Caliche gold project located in Sonora State, Mexico. The PEA has been prepared in accordance with the requirements of National Instrument 43-101 by D.E.N.M. Engineering Ltd. of Burlington, Ontario (“D.E.N.M.”), with an updated resource estimation completed by Micon International Ltd. of Toronto, Ontario (“Micon”) and metallurgical testing completed by McClelland Laboratories Inc. of Sparks, Nevada (“McClelland”). PEA Highlights: Pre-Tax NPV (5% discount rate) of US$68.7 million and an IRR of 52.7% with a price of US$1,750 per ounce of gold and US$22.00 per ounce of silver. After-Tax NPV (5% discount rate) of US$41.5 million with an IRR of 32.4% with a price of US$1,750 per ounce of gold and US$22.00 per ounce of silver. 7 years Life of Mine (“LOM”) producing 323,500 ounces (“oz”) of gold equivalent (“AuEq”) Gold recovery of 74% and silver recovery of 27% produced from a 3-stage crushing circuit, crushing the ore to p80 of ½”. LOM annual average production of 45,700 oz AuEq. Years 1 to 3 annual production of 56,500 oz AuEq with average grade of 0.51 g/t AuEq. Initial CAPEX costs of US$32.2 million, including US$3.8 million in contingency. Sustaining capital costs of US$4.8 million. OPEX costs of US$1,227/oz AuEq. All-In Sustaining Cost (\"AISC\") of US$1,462/oz AuEq. Payback period of 2.2 years. Updated Mineral Resource Estimate Highlights at 0.207 g/t Au Cut-off: Measured and Indicated Mineral Resources of 349,000 ounces of gold at a 0.41 g/t Au grade. Updated Inferred Mineral Resources of 71,000 ounces of gold at 0.40 g/t Au grade. Also noted in Micon’s report, a range of the potential mineralization that may conceptually exist outside of the resource pit shells has been included in the report. Utilizing the same 0.207 g/t Au cut-off grade as the current resource estimate, the range of the potential mineralization is believed to be from 19,250,000 to 34,370,000 tonnes containing: 204,000 to 365,000 ounces of gold. 1,683,000 to 3,005,000 ounces of silver. The reader is cautioned that the potential mineralization ...