Sonoro Gold Acquires 23 Mining Concessions at Cerro Caliche Project in Mexico

en.Wedoany.com Reported - Canadian mining company Sonoro Gold Corp. announced that its Mexican subsidiary, Minera Mar de Plata (MMP), has completed the acquisition of strategic mining concessions surrounding the Cerro Caliche gold project in Sonora, formalizing the terms of the letter of intent signed on May 12, 2026, with the goal of consolidating scattered mining areas into a larger operation.

According to the transaction structure, Sonoro Gold will pay $5.17 million over 18 months to acquire 100% interest in 23 mining concessions, covering a combined area of 4,239.10 hectares; in addition, the buyer is required to assume approximately $990,000 in unpaid mining fee obligations. For another 5 mining concessions (covering 453.91 hectares), Sonoro Gold has acquired a 51% interest and has committed to investing up to $9 million for exploration and development. All agreements were reached with independent third parties and do not involve securities issuance or royalty arrangements.

The project's land footprint has thus expanded significantly. Since January 2026, Cerro Caliche's owned area has increased from 1,350 hectares to 8,215 hectares, with an additional 454 hectares held under the company's 51% majority interest.

Company President and CEO Kenneth MacLeod stated that this expansion will substantially increase the project's scale. The company is currently implementing a drilling program totaling 50,000 meters, aimed at increasing mineral resources, grade, and resource classification, while also verifying the continuity of gold-bearing zones on the newly acquired parcels. Geological and historical data indicate that the new areas belong to the same epithermal gold system already identified within the existing concessions.

Cerro Caliche is currently in the stage of obtaining final environmental permits, after which open-pit mining and heap leach processing will commence. According to the updated Preliminary Economic Assessment (PEA) from 2026, the original mine plan outlines a mine life of 10 years with a processing capacity of 16,000 tonnes per day. Based on only 30% of the known mineralized area and a gold price of $3,500 per ounce, the project's estimated after-tax net present value (NPV) is $224 million, with an internal rate of return (IRR) of 50%.