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Sonoro Metals Adds Tres Amigos Concession to Cerro Caliche
VANCOUVER, British Columbia, May 29, 2018 (GLOBE NEWSWIRE) -- Sonoro Metals Corp., (“Sonoro”) (TSXV:SMO) (OTCQB:SMOFF), announces that its Mexican subsidiary, M
About this update from Sonoro Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, May 29, 2018 (GLOBE NEWSWIRE) -- Sonoro Metals Corp., (“Sonoro”) (TSXV:SMO) (OTCQB:SMOFF), announces that its Mexican subsidiary, Minera Mar De Plata, SA de C.V. has executed a formal option agreement (the “Tres Amigos Option Agreement”) with two residents of Magdalena de Kino, Sonora, Mexico (the “Vendors”), to acquire a 100% interest in the 20 hectare Tres Amigos concession (“Tres Amigos”) located contiguous to the recently-acquired Cerro Caliche concessions in the prolific Cucurpe Sonora Mega-district of Sonora, Mexico. The option agreement increases the land holdings under option to Sonoro in this important gold mining district to 1,455 hectares. The Tres Amigos Option Agreement provides for Sonoro to acquire a 100% interest in Tres Amigos for total consideration to the Vendor of US$130,000, payable in nine equal cash installments over 48 months. The initial installment of US$14,444.44 was paid on execution of the Tres Amigos Option Agreement. The Cerro Caliche concessions, which now incorporate Tres Amigos (collectively “Cerro Caliche”) were the subject of earlier drill programs by Cambior Gold, Corex Gold Corp., with the most recent drilling conducted in 2011 by Paget Southern Resources (Pembrook Mining). Total drilling by those companies in the last 20 years exceeding 10,000 meters in more than 100 drill holes, reportedly outlined large areas of mineralized material that may in future programs assist in defining a resource with significant gold mineralization. A historic non-published report completed by Corex (Flores, 2008) includes a non NI 43-101 resource estimation. The Tres Amigos concession contains a strongly mineralized quartz vein system oriented northwesterly with common sheeted and stockwork quartz veining in the host rock that is part sedimentary rock and part rhyolitic intrusive rock. The rhyolite dike appears to grade upward into a more volcanic rhyolite unit that also contains veining with gold bearing veinlets. Tres Amigos is located over the historic Espanola mine that was artisan mined around 1955 by using pack burros to haul “high grade” material to the running river below for processing. “Our Hermosillo-based exploration team, headed by noted geologist Mel Herdrick, is currently defining targets throughout the Cerro Caliche concessions for a reverse...