Mexico

Cerro Caliche Project

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Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotOctober 16, 2023 – Sonoro Gold Corp. is pleased to report the filing of a technical report titled “NI 43-101 Technical Report for the Preliminary Economic Assessment on the Cerro Caliche Project, Sonora, Mexico” with an effective date of August 28, 2023.

Owners

SourceSource
CompanyInterestOwnership
Sonoro Gold Corp. 100 % Indirect
The Project is comprised of 15 contiguous mining concessions covering a total area of 1,350.10 hectares held under five option agreements by Sonoro’s wholly owned Mexican subsidiary, Minera Mar De Plata, S.A. de C.V. (MMP), a company duly incorporated under the laws of Mexico.

Contractors

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Deposit type

  • Vein / narrow vein
  • Breccia pipe / Stockwork
  • Epithermal

Summary:

The Cerro Caliche deposits are considered a Low Sulfidation Epithermal Precious Metal mineral deposit type as are the nearby Mercedes (Burtner, 2013) and Cerro Prieto (Giroux, Bain, 2013) gold mines. A working field model adapted includes field identifiable vein textures in quartz veins which have been adapted to the model. Textures suggesting boiling include lattice and bladed, which developed in partial quartz replacement of carbonate minerals along cleavage planes showing an indication of boiling that produces local acidic conditions. Adularia is also tentatively identified by its pink colored vein material which is also indicative of boiling fluid deposition. Also present are numerous bands of coarse to fine quartz in near rhythmic wall parallel bands that also surround fragments in the vein. The veins of the western side of the property, located near to and west of the Zorillo veins, are formed of white glassy quartz that do not contain more than geochemically anomalous gold (less than 50 ppb Au).

Detailed structural geological mapping and analysis completed in 2021 on the central portion of the Project concludes that the main trend of quartz veins is oriented north 20-50° west (Azimuth 310- 340°) with a secondary quartz vein system oriented north 30-50° east (Azimuth 30-50°). Identified faults show a similar orientation to the main veins trend, implying faulting activation along veins plains.

A second faulted trend, with general orientation northeast 20-50° east (Azimuth 200-300°), is coincident with orientation of some veins but is likely a post-mineralization fault trend. A third fault system trends east-west to west-northwest east-southeast (N60-90° W; Azimuth 90-120°). This trend cross cuts the mineralized veins. Analysis of the fault kinematics data yielded a fault slip solution with a north-south strike and an east-west extension related to the normal faulting. This could imply a relaxation pattern or weakness/stability zone in those same directions.

Drilling focused on following the main vein zones named after their historic mine sites: the Los Japoneses mineralized zone with the related extensions of the Cuervos and Buena Vista mineralized zones, the Buena Suerte mineralized zone, the Chinos NW mineralized zone, the Abejas mineralized zone with the extensions of the Veta de Oro and El Rincón mineralized zones and possibly the Chinos Altos mineralized zones; and the Cabeza Blanca mineralized zone with adjacent and connected Guadalupe and El Colorado mineralized zones. Located on the same northwest trending lineament approximately one kilometer apart are the relatively isolated vein zones of La Española and El Bellotoso.

Los Japoneses Zone (incl. Cuervos, Boludito, & Buena Vista)
The Los Japoneses mineralized zone is the largest vein zone in both width and length as well as volume and is the most extensively drill defined vein zone on the property. To the south, the Cuervos vein zone appears as a southward continuation as it follows the trend of the Los Japoneses vein in drill holes. To the north, the Boludito vein zone appears as a northward continuation and the Buena Vista vein zone occupies a fault breccia zone expanding the Los Japoneses vein zone to the northwest to merge with the Buena Suerte vein zone. Rhyolite dikes and quartzite are the main host rocks for these zones.

Abejas Zone (incl. Veta del Oro & Rincon with Chinos NW & Chinos Altos)
North of the Los Japoneses vein zone, the geology and mineralization of the defined Veta de Oro vein zone extends south to the Abejas disseminated stockwork gold mineralized zone. As the Veta de Oro structure continues southeast, the structure splays into four separate 500 m long vein like bodies with numerous quartz veinlets. These terminate in an arroyo area located southeasterly by a North 30° East post mineral low angle fault that offsets the southern block by apparently 40-50 m eastward. The offset block to the south at Chinos Altos, is essentially undrilled for 300 m with 5 drill holes situated beyond the undrilled 300 m section. The northwest extension of the Veta de Oro vein zone connects with the El Rincón vein zone, the most widely drilled new zone in 2021. Gold mineralized intercepts are common in the newly defined Veta de Oro - El Rincon zone which is partly hosted in the rhyolite sill.

Cabeza Blanca, Guadalupe, and El Colorado
The Cabeza Blanca vein zone is a north-south trending vein with a steep easterly dip. The Guadalupe vein zone is a sub-parallel gold bearing vein with a lower dip angle of approximately 55 to 60 degrees to the east. Both veins are about one kilometer long and continue south into El Colorado confirming El Colorado as a southern extension.

Cabeza Blanca, Guadalupe, and El Colorado
The Cabeza Blanca vein zone is a north-south trending vein with a steep easterly dip. The Guadalupe vein zone is a sub-parallel gold bearing vein with a lower dip angle of approximately 55 to 60 degrees to the east. Both veins are about one kilometer long and continue south into El Colorado confirming El Colorado as a southern extension.

At El Colorado, the Guadalupe and Cabeza Blanca veins are closest together in contrast to the wider spacing of the veins in the northern part of the zone.

The El Colorado zone contains normal quartz vein dominant style gold mineralization with sericitic alteration, as well as veins and veinlets of hematitic (formerly sulphide) stringers and bunches in the structures that include a flat higher grade quartz vein first identified in drill hole SRC-044 with 12.19 m grading 11.22 g/t Au and 5.9 g/t Ag.

La Española Zone
The top 100 m of the Cerro Caliche ridge in the distance displays the exposed altered rhyolite flow on the cliff face. Host rocks for La Española vein are both altered rhyolite dikes and quartzite.

The La Española vein structure continues as a lineament northwesterly across the shoulder of Cerro Caliche into the El Bellotoso zone, which was explored with three drill holes in 2021. The northwest continuation is marked with anomalous rock samples and prospect pits with vein material. The vein displays variation in width and in the vicinity of the former Española mine, lead and zinc content are also present and display variations with more than 1% combined base metal levels. Additional drilling is recommended at La Española and El Bellotoso vein zones.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. AnnualLOM
Silver oz 1,108,259
Gold Equivalent oz 45,005344,674
All production numbers are expressed as metal in doré.

Operational metrics

Metrics
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* According to 2022 study.

Production Costs

CommodityUnitsAverage
Cash costs Gold Equivalent USD  ....  Subscribe
All-in sustaining costs (AISC) Gold Equivalent USD  ....  Subscribe
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Assumed price Gold USD  ....  Subscribe
* According to 2022 study / presentation.

Operating Costs

Currency2022
OP mining costs ($/t milled) USD 1.85 *  
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Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
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* According to 2022 study.

Project Costs

MetricsUnitsLOM Total
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Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 213
Refining costs $M USD  ......  Subscribe
G&A costs $M USD 19.7
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Pre-tax NPV @ 5% $M USD  ......  Subscribe
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Heavy Mobile Equipment

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Personnel

Mine Management

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