Sonoro Gold Corp. completed the acquisition of 23 mineral concessions adjacent to its Cerro Caliche gold project on Aug. 26 [1].
The expansion moves the project closer to the final permitting stage for a proposed open-pit, heap-leach mining operation in Sonora, Mexico [4].
Minera Mar de Plata, a wholly owned subsidiary of Sonoro Gold, finalized the purchase of the concessions [1]. The acquisition increases the total area of the Cerro Caliche project to 8,215 hectares [2].
As part of the expansion, the company also secured an additional 51% interest in 454 hectares of adjacent land [3]. This strategic growth is intended to broaden the project's footprint as it transitions toward active mining operations [4].
Sonoro Gold is listed on the TSXV as SGO, the OTCQB as SMOFF, and the FRA as 23SP [1]. The company has focused its recent efforts on consolidating land holdings in the region to optimize the scale of the Cerro Caliche site [1].
While some reports earlier this year indicated a different number of concessions, the company confirmed the completion of the 23-concession deal this Wednesday [1]. The move follows earlier letters of intent signed in May to secure the mineral rights [5].
“The acquisition increases the total area of the Cerro Caliche project to 8,215 hectares.”
By consolidating adjacent land and increasing its total footprint to over 8,000 hectares, Sonoro Gold is reducing the risk of boundary disputes and increasing the potential resource base. This land grab is a prerequisite for the final permitting of an open-pit operation, signaling that the company is shifting from exploration to the pre-production phase of development.
