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Sonoro Gold ( (TSE:SGO) ) just unveiled an update.
Sonoro Gold Corp. has secured all necessary surface rights for its Cerro Caliche Gold Project in Sonora, Mexico, marking a significant milestone in its development. This agreement allows Sonoro to advance the project into production, aiming to generate cash flow and fund further exploration, potentially expanding the resource and mining operation. The lease agreement covers exclusive surface rights for over 3,900 hectares, with plans to expand to 5,007 hectares by 2028, and includes a 12.5-year term with an option to renew. The project is in the final permitting stage for an open-pit, heap leach mining operation, with a potential 9-year lifespan and significant economic returns based on current gold prices.
More about Sonoro Gold
Sonoro Gold Corp. is a publicly listed exploration and development company with projects in Sonora State, Mexico, including the development-stage Cerro Caliche project and the exploration-stage San Marcial project.
Average Trading Volume: 231,989
Technical Sentiment Signal: Buy
Current Market Cap: C$31.31M
Learn more about SGO stock on TipRanks’ Stock Analysis page.