Sonoro Gold Corp., a Vancouver-based exploration and development company, has announced its plans for a non-brokered private placement offering aimed at advancing its Cerro Caliche gold project in Sonora, Mexico. The company intends to raise up to C$3,000,000 through the offering, which will consist of 30,000,000 units priced at C$0.10 per unit.
Private Placement Offering to Fund Development and Exploration
The primary purpose of the private placement offering is to provide funding for the ongoing development of a proposed heap leach mining operation at the Cerro Caliche gold project. The project has shown promising results, with a recent drilling campaign identifying multiple high-grade ore shoots in the El Colorado and Guadalupe vein zones. Sonoro Gold Corp. plans to allocate a portion of the financing to targeted infill drilling in these zones to potentially enhance the project’s overall economics.
Significance of the Offering
The non-brokered private placement offering is a strategic move by Sonoro Gold Corp. to secure the necessary funds for the advancement of the Cerro Caliche project. By raising up to C$3,000,000, the company aims to accelerate the development of the proposed heap leach mining operation, bringing it closer to production. Additionally, the targeted infill drilling in the El Colorado and Guadalupe vein zones could further increase the average grade of the project, positively impacting its overall economics.
About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development company focused on natural resource deposits. With experienced operational and management teams, the company has a proven track record in the discovery and development of mineral projects. Its portfolio includes the Cerro Caliche project, a development-stage project, and the San Marcial project, an exploration-stage project, both located in Sonora State, Mexico.
Regulatory Considerations and Contact Information
The private placement offering is subject to TSX Venture Exchange acceptance, and all securities issued will be subject to a 4-month hold period in Canada. Sonoro Gold Corp. will pay finder’s fees in accordance with the policies of the exchange. For further information about the offering or the company, interested parties can contact Sonoro Gold Corp. at (604) 632-1764 or via email at [email protected].
Disclaimer: This press release is not intended for distribution to U.S. news services or dissemination in the United States. The securities offered have not been and will not be registered under the Securities Act of 1933, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
Here are 4-5 frequently asked questions (FAQs) about the entities mentioned in the content:
1. FAQ: What is Sonoro Gold Corp.?
Answer: Sonoro Gold Corp. is a publicly listed exploration and development company based in Vancouver, Canada. They hold the Cerro Caliche project, a development-stage project, and the San Marcial project, an exploration-stage project, both located in Sonora State, Mexico.
2. FAQ: Who is Kenneth MacLeod?
Answer: Kenneth MacLeod is the President and CEO of Sonoro Gold Corp. He leads the company’s operations and management teams and has a proven track record in the discovery and development of natural resource deposits.
3. FAQ: What is the purpose of the non-brokered private placement offering by Sonoro Gold Corp.?
Answer: The private placement offering aims to raise up to C$3,000,000 in gross proceeds. It consists of 30,000,000 units priced at C$0.10 per unit. Each unit includes one Sonoro common share and one common share purchase warrant. The funds raised will be used to support the ongoing development of a proposed heap leach mining operation at the Cerro Caliche gold project in Sonora, Mexico.
4. FAQ: What are the El Colorado and Guadalupe vein zones mentioned in the press release?
Answer: The El Colorado and Guadalupe vein zones are specific areas within the Cerro Caliche gold project. Sonoro Gold Corp. conducted a drilling campaign and identified multiple high-grade ore shoots in these zones. The company plans to allocate approximately 30% of the financing from the private placement offering to targeted infill drilling in these areas to potentially enhance the project’s overall economics.
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