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Sonoro Gold releases positive PEA study on the Cerro Caliche gold project in Mexico
(NewsDirect) Sonoro Gold Corp CEO Kenneth MacLeod joined Steve Darling from Proactive to ...
About this update from Sonoro Gold Corp
[{"type":"text","content":"Sonoro Gold releases positive PEA study on the Cerro Caliche gold project in Mexico\n \n \n (NewsDirect)\n \n \n \n \n Sonoro Gold Corp CEO Kenneth MacLeod\njoined Steve Darling from Proactive to announce the positive outcomes\nof an independent Preliminary Economic Assessment (PEA) conducted on\nthe Cerro Caliche gold project in Mexico.\n \n \n The assessment offers a promising glimpse into the project's\npotential viability as a nine-year life-of-mine open pit, heap leach\nmining operation.\n \n \n The PEA outlines\na production plan characterized by an initial two-year production rate\nof 4,000 metric tonnes per day, followed by a subsequent increase to\n12,000 for the remaining life of the mine.\n \n \n MacLeod highlighted key figures derived\nfrom the PEA. Notably, over approximately 30% of the project area, the\nresults are positive, with a pre-tax net present value (NPV)\ndiscounted at 5% amounting to $71.4 million.\n \n \n Furthermore, the pre-tax internal rate of\nreturn (IRR) stands at an impressive 59%, while the after-tax NPV5\nreaches $47.7 million with an IRR of 45%. The assessment also\nindicates gold recovery of 72% and silver recovery of 27%.\n \n \n Regarding project costs, the initial\ncapital expenditure (CAPEX) is projected at $15.5 million, which\nincludes a contingency of $1.83 million. The payback period is\nestimated to be 2.9 years, underscoring the financial feasibility of\nthe endeavour.\n \n \n The PEA not only\npresent a snapshot of the project's potential but also hints at\nadditional opportunities. Parallel and strike extensions to the\ncurrent vein trends offer prospects for further exploration and\nexpansion, thereby enhancing the project's long-term\nprospects.\n \n \n As the project\nprogresses, the company anticipates the initiation of exploration\ndrill programs to capitalize on these additional opportunities.\n \n \n \n Contact Details\n \n \n \n Proactive Canada\n \n \n +1\n604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2627,"tagName":"div"}]