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Sonoro Gold Files Cerro Caliche Preliminary Economic Assessment on SEDAR
VANCOUVER, British Columbia, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased t
About this update from Sonoro Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce the filing of a technical report titled “Preliminary Economic Assessment of the Cerro Caliche Project, Sonora, Mexico” (the “PEA”) with an effective date of September 15, 2021. 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 David Salari. P.Eng. as the lead author. William Lewis, P.Geo., of Micon International Limited of Toronto, Ontario (“Micon”) was the Qualified Person responsible for the updated mineral resources estimate. The PEA can be found under the Company’s profile at www.sedar.com and on Sonoro’s website at www.sonorogold.com. The results of the PEA were previously announced in the Company’s news releases dated September 15 and 16, 2021 and are summarized as follows: 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$1,351/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 potentia...