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Sonoro Gold Announces Positive PEA Results For Cerro Caliche Gold Project: Pre-Tax NPV of USD $71.4 Million And Pre-Tax IRR of 59%
VANCOUVER, Canada, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce
About this update from Sonoro Gold Corp
[{"type":"text","content":" VANCOUVER, Canada, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce the positive results of an independent Preliminary Economic Assessment (“PEA”) on the Company’s Cerro Caliche gold project located in Sonora State, Mexico. The PEA demonstrates the potential viability for a nine-year life of mine (“LOM”), open pit, heap leach mining operation with an initial two-year production rate of 4,000 metric tonnes per day (“mtpd”) and an increase to 12,000 mtpd for the remaining LOM. The PEA has been prepared in accordance with the requirements of National Instrument 43-101 (“NI 43-101”) by D.E.N.M. Engineering Ltd. of Burlington, Ontario (“D.E.N.M.”) and Micon International Limited of Toronto, Ontario (“Micon”) with confirmation of the applicable resource estimates prepared by SRK Consulting (U.S.) Inc. of Denver, Colorado (“SRK”). Updated PEA Highlights: Pre-Tax net present value discounted at 5% (“NPV5”) of USD $71.4 million Pre-Tax Internal Rate of Return (“IRR”) of 59% After-Tax NPV5 of USD $47.7 million with an IRR of 45% Gold recovery of 72% and silver recovery of 27% 9-year LOM with 297,575 ounces (“oz”) of gold equivalent (“AuEq”) LOM annual average production of 33,000 oz AuEq at 0.45 g/t AuEq Initial CAPEX costs of USD $15.5 million, including USD $1.83 million in contingency Sustaining capital costs of USD $15.5 million Cash(1) operating costs of USD $1,295/oz AuEq AISC(2) of USD $1,395/oz AuEq Payback period of 2.9 years Note: All currencies are reported in U.S. dollars. Base case parameters assume $1,800/oz gold and $23/oz silver.(1) Cash operating costs include mining, crushing, processing, assaying, and administration.(2) All-in-Sustaining Costs include cash costs plus sustaining, refining and reclamation costs, as well as 2% royalty buyout. “This PEA draws on the extensive expertise of our technical team in Mexico under the direction of our VP Operations, Jorge Diaz, who designed a mine plan which materially reduces upfront capital costs and increases throughput after year two with capital cost expansion financed exclusively from cash flow,” stated Ken MacLeod, President and CEO of Sonoro Gold. “This aligns with our objective to bring Cerro Caliche into production to allow potential resource expansion with minimal dilution to ou...