Sonoro and Northern Empire Complete Phase 1 Hilltop Exploration Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 15, 2015) - Sonoro Metals Corp. (TSX VENTURE:SMO) ("Sonoro"), and Northern Empire Resources Corp. ("Northern Empire"), today announced the completion of the field work for the first phase ("Phase 1") of an exploration program at the Hilltop Gold Project ("Hilltop") located 70 km southeast of Fairbanks, Alaska, USA.
John Robins, Northern Empire's Chairman stated: "We believe significant discovery potential exists in the Richardson Gold District, particularly on this large land package at Hilltop. We are also highly impressed with Alaska as an exploration jurisdiction. The combination of ease of permitting, excellent access, ample power, and supportive and competent local expertise reduces risks and costs and provides excellent upside for investors."
"Sonoro's management team concur with Northern Empire's assessment of the substantial potential for gold discovery at Hilltop," said Kenneth MacLeod, President & CEO of Sonoro. "We are also very satisfied with the scope, execution and quality of the initial exploration program carried out at Hilltop by our project partner, Northern Empire."
Phase 1 Exploration Program Update
DNR Permit #2235 for Hilltop exploration was received May 18, 2015, less than 30 days after Northern Empire's April 20, 2015 submittal application. The Multi-Year 2015-2019 Miscellaneous Land Use Permit for Hardrock Exploration and Reclamation Permit Number 2235 is good for 5 years and is currently sufficient for Northern Empire and Sonoro to significantly expand future exploration activities if warranted. The permit coverage includes trenching; drilling; substantial daily water usage; road improvement on access roads; and up to 3 miles (4.8 km) of new road development.
An exploration crew arrived at the Salcha, Alaska operations base in May to prepare for the exploration program at Hilltop. Phase 1 work to date has included the following:
- Successful receipt of DNR Permit #2235
- 8.2 miles (13.2 km) of road improvement to provide better crew and equipment access to priority zones
- Eight trenches excavated and mapped, over a total strike extent of 213 meters
- Six test pits completed in areas with prospective geology and/or hosting anomalous historic results from previous exploration groups
- 228 rock samples collected from trenches and test pits
- 397 soils collected across the Hilltop block including: 61 due diligence top-of-bedrock soils and 336 b- horizon enzyme leach soil samples
- Initial prospecting and reconnaissance work, which includes visiting the locations of anomalous sample sites taken on the property by previous exploration groups
- Soil and rock samples have been prepared and sent to ALS Chemex, Fairbanks (61 top of bedrock and 228 rock trench samples) and ACT Labs, Ancaster, Ontario (524 B horizon soils). Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates in the field.
- Receipt of analytical results from both the soil and rock sampling programs is expected in early July and will be released upon review.
For further information and to view maps of Hilltop, please visit Sonoro's website at http://sonorometals.com/projects/usa/hilltop/.
Hilltop Definitive Agreement
Pursuant to the two companies signing a Letter of Intent for Hilltop as announced on March 11, 2015, a Definitive Agreement between Sonoro and Northern Empire was signed on June 12, 2015. The Definitive Agreement grants Sonoro the option to earn a 60% interest in Hilltop, and defines the terms of a joint venture which will be formed thereafter to further explore and develop Hilltop, with Sonoro as the operator.
To exercise the option, Sonoro must spend C$3,000,000 on exploration activities to advance Hilltop and issue 1,000,000 Sonoro shares to Northern Empire prior to December 31, 2019. A first tranche of 250,000 Sonoro shares has been issued to Northern Empire in conjunction with the signing of the Definitive Agreement. With the completion of the Phase 1 exploration program at Hilltop, Sonoro has fulfilled the 2015 exploration budget commitments as per the Letter of Intent announced March 11, 2015.
About the Hilltop Gold Project
Northern Empire holds a 100% interest in the block of claims forming Hilltop within the broader Richardson Gold District (excluding placer gold). Hilltop is an exploration stage gold project located 70 kilometers southeast of Fairbanks, Alaska and 70 kilometers northwest of Delta Junction in east-central interior Alaska. Hilltop is located approximately 75 km from Sumitomo's Pogo mine (4.973 million ounces at 12.5 g/t gold; http://www.sumitomocorp.co.jp/files/topics/25649_ext_31_en_0.pdf) and 135 south of Kinross's Fort Knox mine (3.8 million ounces at 0.45 g/t Au; http://www.kinross.com/operations/operation-fort-knox-alaska-usa.aspx). The 31,720 acre (12,836 hectare) Hilltop property is bordered on the south by the all-weather and paved Richardson Highway. In addition, Hilltop is proximal to both a high power electrical transmission line and the Trans-Alaska Pipeline. Access into the interior of the property from the Richardson Highway is via a new system of logging roads and trails which makes most points within Hilltop accessible for exploration activities.
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. Readers are cautioned that the presence of mineralization on properties adjacent to or in proximity to Hilltop is not necessarily indicative of alteration and mineralization on Hilltop.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a mineral exploration company with a portfolio of properties in Alaska, USA; Sonora State, Mexico; and British Columbia, Canada. Exploration on the Hilltop Gold Project in Alaska is being managed by Sonoro's project partner, Northern Empire Resources Corp. under the direction of its Chairman, John Robins, P.Geo. Sonoro has a skilled exploration team in Mexico, headed by Hermosillo-based Chief Geologist Melvin Herdrick, with over 35 years of experience, including 9 years as Chief Geologist for Phelps Dodge in Mexico and 5 years as VP of Exploration for Pediment Gold Corp. until its takeover by Argonaut Gold in 2011. Sonoro's Chief Operating Officer, Stephen Kenwood, P.Geo., has over 20 years of experience in mineral exploration and development.
On behalf of the Board of Sonoro Metals Corp.
KENNETH MACLEOD, President & CEO
Forward Looking Statement Cautions: This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, Sonoro's option to acquire and the exploration of the Hilltop Gold Property, located in Alaska. 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 inability of the Company and Northern Empire to settle up on the terms of a definitive option agreement to supersede the LOI, possible, 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, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.