VANCOUVER, Canada, December 11, 2014, Sonoro Metals Corp., (“Sonoro” or the “Company”) (TSXV: SMO), announces that drilling at the Company’s Monroe Property located in the Fort Steele Mining Division in southeastern British Columbia has progressed to a depth of 854m where an unexpected zone of squeezing was encountered causing the drill rods to become stuck. The drill steel has subsequently been freed and recovered and a deflection wedge set approximately 50 meters off bottom will be utilized to complete the hole. Drilling is planned to recommence during the first week of January 2015 to a target depth of 1,200 meters.
Drilling has progressed through that the first of two specific stratigraphic intervals within the sub-basin, namely the Sullivan Time interval and the balance of drilling will target the Sullivan Footwall Quartzite interval.
“A 3.6 meter wide zone of extremely intense alteration consisting of albite, sericite and rhodenite was encountered at a depth of 818 meters and is present as a screen of sediment within a gabbro sill,” said Monroe technical advisor, Gordon Leask, P.Eng. “Such alteration is extremely rare but was also encountered in the adjacent Fors massive sulphide vent complex located approximately 1 km to the west of the current drill hole and is believed to be related.”
The 1,282 hectare Monroe Property is located approximately 20 km south of Cranbrook, British Columbia and 40 km south of the former giant class Sullivan Zinc-Lead-Silver mine. The Sullivan mine operated continuously from 1900 to 2001, yielding 160 million tons of ore grading 6.5% lead, 5.6% zinc and 2 oz/ton silver with a gross metal value at today’s prices of approximately CAD$45 billion.
The Monroe Property is situated at the intersection of two major Proterozoic aged crustal structures, specifically the Moyie Fault and the Sullivan Corridor. The property hosts a large volume of Sullivan-type alteration and a gabbro sill-dyke complex fringing a third-order basin, which is developed at the Sullivan Time interval. The depocentre is a 1 km-by-1 km sub-basin which has not been previously evaluated by drilling. The Sullivan deposit is hosted in a similar geologic setting. Past work on the Monroe project dates from the discovery of the adjacent Fors Zinc-Lead-Silver massive sulphide prospect in 1966. The most recent investigation comprised a major drill campaign in 1997.
The property is held under an option agreement with Eagle Putt Ventures Inc. (“Eagle Putt”) whereby Sonoro can earn a 50% interest through exploration and development expenditures of $2,500,000 over 4 years and pay Eagle Putt $400,000 in staged option payments over that same 4-year period (the “Option”). Following exercise of the Option, the parties anticipate that they will enter into a 50/50 joint venture to further advance the exploration and development of the Monroe Property. Eagle Putt is a private company, arm’s length to Sonoro, and managed by noted Vancouver-based geologists, Gordon and John Leask, who are acting as technical advisors for the Monroe exploration program.
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 an exploration and development company with a portfolio of exploration-stage properties located in the Mexican state of Sonora and in British Columbia, Canada. Sonoro has a skilled exploration team in Mexico, headed by Hermosillo-based Chief Geologist 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. Sonoro’s technical team in Canada is spearheaded by professional geologist Stephen Kenwood, with over 20 years experience in mineral exploration and development in British Columbia.
Forward-Looking Statement Cautions:
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, the Company’s plans regarding the use of proceeds of the Offering and its other recently completed financings. 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 accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, and the risk of political uncertainties and regulatory or legal changes in Mexico that might interfere with the Company’s business and prospects. 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.