Sonoro Metals (SMO-V)
www.sonorometals.com
10.6 million o/s
<$0.7 million cash (as of June 30, '14)
Key people
Kenneth MacLeod - President, CEO and Director
Ken has over 30 years experience as an executive officer in the resource and energy sectors, having served as President, CEO and director of various public and private companies operating in the Americas, Asia and Africa. Recent activities include the launching and subsequent sale of a private Renewable Energy company operating in the Philippines. Ken was President & CEO of Western GeoPower Corp. from 2001 until its acquisition by Ram Power Corp. in 2009. In the mining sector, he was President & CEO of Kakanda Development Corp. from 1994 until 2001.
Gary Freeman - Director
Gary is a Vancouver based entrepreneur and financier who has held a number of executive positions and been instrumental in financing, marketing and shareholder relations' capacities with several junior exploration companies. Gary has over 23 years of valuable experience in the industry, including a number of years in the brokerage industry. Gary was also President and CEO of Pediment Gold Corp until it was acquired by Argonaut Gold Inc. in January 2011. Gary is also the President of Ethos Gold Corp. and Indico Resources Ltd.
Stephen Kenwood P. Geo - COO (Canada) and Director
Steve has a BSc. (Geology) from the University of British Columbia and 20 years world-wide experience in mining sector, with 12 years experience managing junior exploration companies. He was formerly a geologist with Cominco on the Snip gold mine, project geologist at Eskay Creek polymetallic massive sulphide deposit, both of which are located in northern B.C. Steve also worked as a project geologist at the Petaquilla copper-gold porphyry deposit, which is located in Panama.
Company presentation - sonorometals.com
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Sonoro Metals (SMO-V) Aug 18, '14 has reached final agreement with Agnico Sonora SA de CV, a subsidiary of Agnico Eagle Mines Ltd., 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.
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Insider trading...
| Aug 1/14 | Aug 1/14 | Freeman, Gary Richard | Indirect Ownership | Common Shares | 10 - Acquisition in the public market | 75,000 | $0.140 |
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