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Sonoro Gold Files Updated Preliminary Economic Assessment on SEDAR
VANCOUVER, Canada, June 23, 2022 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report t
About this update from Sonoro Gold Corp
[{"type":"text","content":" VANCOUVER, Canada, June 23, 2022 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report the filing of a technical report titled “Updated Preliminary Economic Assessment of the Cerro Caliche Project, Sonora, Mexico” (the “PEA”) with an effective date of May 9, 2022. 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 mineral resource estimate. The updated PEA contemplates an optimized mine plan for an open pit, heap leach mining operation with an initial two-year production rate of 8,000 metric tonnes per day (“mtpd”) and an increase to 15,000 mtpd for the remaining Life of Mine (“LOM”). The PEA can be found under the Company’s profile at www.sedar.com and on Sonoro’s website at www.sonorogold.com. PEA Highlights: Pre-Tax net present value discounted at 5% (“NPV5”) of USD $84.4 million Pre-Tax Internal Rate of Return (“IRR”) of 74.9% After-Tax NPV5 of USD $53.5 million After-Tax IRR of 45.6% Gold recovery of 74% and silver recovery of 27% 7-year LOM with 344,500 ounces (“oz”) of gold equivalent (“AuEq”) LOM annual average production of 45,000 oz AuEq (Years 1-7) Years 1 to 3 annual production of 46,000 oz AuEq at 0.58 g/t AuEq Initial CAPEX costs of USD $26 million, including USD $3 million in contingency Sustaining capital costs of USD $7.4 million Cash(1) costs of USD $1,206/oz AuEq AISC(2) of USD $1,333/oz AuEq Payback period of 2.2 years Note: All currencies are reported in U.S. dollars. Base case parameters assume $1,750/oz of gold and $22/oz of silver.(1) Cash 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% royalties. Mineral Resource Estimate The updated PEA utilizes mineral resource estimate contained in the Company’s initial PEA, dated October 29, 2021, and is based on the Company’s September 2018 to April 2021 drilling campaigns. Readers are cautioned that these potential mineralization ranges are conceptual in nature and that despite b...