Sonoro Gold files Preliminary Economic Assessment on Cerro Caliche Project in Mexico
Vancouver
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October 17, 2023 04:03 PM Eastern Daylight Time
Sonoro Gold Corp CEO Kenneth MacLeod joined Steve Darling from Proactive to shared significant news regarding the company's Cerro Caliche Project in Sonora, Mexico. Sonoro Gold Corp has announced the filing of a Preliminary Economic Assessment (PEA) for the Cerro Caliche Project. The PEA outlines the potential viability of a nine-year life of mine, open-pit, heap leach mining operation.
The operation is expected to have an initial two-year production rate of 4,000 metric tonnes per day, with an increase to 12,000 mtpd for the remaining life of the mine. MacLeod highlighted the positive results from the PEA, which include a Pre-Tax net present value discounted at 5% of $71.4 million and a Pre-Tax Internal Rate of Return of 59%. On an After-Tax basis, the NPV5 is $47.7 million, with an IRR of 45%. The project is estimated to achieve a gold recovery rate of 72% and a silver recovery rate of 27%. The payback period is expected to be 2.9 years.
These results from the PEA underscore the economic potential of the Cerro Caliche Project and highlight its attractiveness as a valuable mining opportunity. Sonoro Gold Corp continues to advance its exploration and development efforts, aiming to unlock the full potential of this promising project.
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