VANCOUVER, Canada, August 18, 2014, Sonoro Metals Corp., (“Sonoro”) (TSXV: SMO), a precious metals exploration and development company, announces that it has reached final agreement with Agnico Sonora S.A de C.V., a subsidiary of Agnico Eagle Mines Ltd. (“Agnico”) on the outstanding terms of the surface access agreement previously announced on April 29, 2014, at Sonoro’s wholly-owned Chipriona project in the prolific Mulatos gold district of Sonora State, Mexico. The agreement grants Sonoro surface access to conduct an exploration program at Chipriona, which is located between Agnico’s La India mine and Tarachi gold deposit. The La India heap-leach mine is Agnico’s newest mine, having achieved commercial production in February, 2014.
“The execution of the surface rights agreement with Agnico enables Sonoro to finalize the permitting application for the proposed drilling program at Chipriona,” said Kenneth MacLeod, President and CEO of Sonoro. “The drilling program will be directed by Hermosillo-based Melvin Herdrick, a professional geologist with over 35 years experience, including 9 years as the Chief Geologist for Phelps Dodge in Mexico from 1994 to 2003 and 5 years as Vice President of Exploration for Pediment Gold Corp. until its takeover by Argonaut Gold Inc. in 2011.”
The Chipriona target zones trend southerly into La India mine’s Cieneguita pit area, which is less than 700 meters south of Chipriona’s main system. The Chipriona dike and shear set appears to be part of the feeder system of high sulfidation mineralization at La India. In addition, Alamos Gold’s Realito exploration property adjoins Chipriona to the east. The Chipriona targets consist of multiple silicified dike and shear zones hosting silver dominant polymetallic mineralization containing significant values of gold (over 1 gram), and lead, zinc, and copper values (0.2-1% ranges). Bonanza style silver-rich mineralization is restricted to massive sulphide veins within segments of the main Chipriona shear zone, although significant mineralization is found throughout the alteration zone.
Although Chipriona has never been drill tested, it was mined in the early 1980s as a high-grade underground operation that produced about 80,000 tons from four levels. Recently, Sonoro performed surface and underground sampling of the main mineralized shear vein that returned results which included 460 g/t silver and 0.64 g/t gold over 20.0 meters; 210 g/t silver and 0.69 g/t gold over 6.6 meters; and 189 g/t silver and 0.71 g/t gold over 19.9 meters. A separate sub-parallel mineralized zone was discovered in the Santa Clara cross-cut, returning values of 110 g/t silver and 0.27 g/t gold over 17.5 meters.
The initial program has been designed to intersect the mineralized shear zone with up to 12 drill holes ranging from near surface to a depth of 150 meters. Property-scale evaluation of additional areas will also be conducted. A detailed investigation is planned for the northwest corner of Chipriona, the site of recently-discovered gold porphyry type mineralization (hosted in porphyrytic Oligocene granodiorite) where a prospecting program in 2009 returned highly anomalous gold values of 0.3-0.4 g/t inside the intrusive and up to 3.04 g/t at the edge of the intrusive unit. Additionally, the potential for high sulphidation type gold mineralization exists as an extension of La India mine’s northern zones into soil covered southern parts of the Chipriona property.
Stephen Kenwood, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for this news release.
On behalf of the Board of SONORO METALS CORP.
Per: “Kenneth MacLeod”
President & CEO
About Sonoro Metals Corp.
Sonoro Metals Corp. is a precious metals exploration and development company with a portfolio of exploration-stage properties located in the Mexican state of Sonora, one of the most productive mining states in Mexico. Sonoro is focused on becoming the premier junior exploration and development company operating in this prolific gold-silver mineralized geological environment. Sonoro has a skilled exploration team to advance its projects to the development stage.
Forward-Looking Statement Cautions:
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company’s Common Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange or the Company’s shareholders will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.