Sonoro Gold is a Canadian-based gold explorer. The development of the Cerro Caliche project in Mexico is the focus of the aggressive explorer. The project, which is located in very good infrastructure, has already been able to show an initial mineral resource of over 200,000 ounces of gold equivalent.
The highly experienced team plans to deliver a pre-feasibility study for a heap leach plant by February 2021 and start gold production in the second half of the year in order to finance further exploration and development work on Cerro Caliche from its own cash flow. In addition to interested Chinese investors, Sonoro will also be seeking Western investors for project financing in 2020. For the current drilling programs 8 million CAD could be raised in August. The goal is to significantly expand the existing near-surface gold resource and to test the geological reinterpretation of the high-grade mineralization potential at depth. Sonoro's geological team sees similarities to Premier Gold Mines' Mercedes Mine, which also started as an open pit mine and now operates a high-grade underground mine. U.S. analysts believe Sonoro's stock to be worth $1-2 and do not rule out a takeover potential as there are several major producers in Sonoro's neighborhood. Geologist Melvin Herdrick, head of geology, has already found and successfully sold 2 million ounces to Argonaut Gold.