It is perfectly normal that only a very few junior miners are ever immediately on the cusp of becoming gold producers, and not all of them show great profit potential in the process.
Sonoro Gold is one of those gold mine developers that is currently at this very stage of development. For investors, the Canadian company could turn out to be a real insider tip, because the relative risk currently appears very low to many experts, while many consider the price potential of the Sonor Gold share to be considerable.
The reason for this is the Cerro Caliche gold project in Mexico, where Sonoro Gold is busy developing a large gold deposit and gold production is expected to start shortly.
Two exploration projects in Mexico
Canada-based Sonoro Gold Corporation has been a typical exploration and development company to date, with its primary operations focused on two projects in Sonora State in northwestern Mexico.
The company’s main project is the Cerro Caliche project near the Mexican municipality of Cucurpe. In addition, Sonoro Gold is engaged in the exploration of the San Marcial project, near the municipality of Santa Ana, also in the Mexican state of Sonora.
The Cerro Caliche Project
The Cerro Caliche project is considered the Company’s flagship project. It consists of a total of 15 contiguous mining concessions covering a total area of approximately 1350 hectares.
The project is located between the two world class mining areas of the Sierra Madre Gold Belt and the Sonora-Mojave, so Cerro Caliche is also believed to contain large gold deposits.
The Cerro Caliche project area is now 100 percent owned by the Canadian junior miner. Sonoro Gold received the first five option agreements to acquire in 2018 and commenced its exploration program.
Since then, Sonoro Gold has conducted an extensive drilling program and numerous metallurgical tests in the project area and is currently still in the process of preparing and establishing the necessary infrastructure and technologies for mining.
Heap leach gold operations are scheduled to begin at Cerro Caliche later this year. Resources at Cerro Caliche are estimated at 11.5 million tonnes. The recovery rate has been consistently positive to date, especially since the recovery rate for the deeper mineralization was recently increased from the original 72 percent to 82 percent with a bottle roll test.
San Marcial Project
Sonoro Gold’s second project is also located in the north of the Mexican state of Sonara and, like Cerro Caliche, is 100% owned by the company.
In San Marcial there are still old mining facilities from the 20th century and the area already has good road access. Sonoro Gold is currently conducting a surface exploration program in the approximately 1000 hectare area, so the start of gold production at San Marcial is likely to take some time.