Sonora Gold JV’s with Teck Cominco

Vancouver – Mexican explorer Sonora Gold (SGG-V) has partnered with Teck Cominco (TEK-T) on its San Enrique copper-molybdenum project.

The junior has granted Teck Cominco an option to earn a 60% interest in the base metals property by spending US$3 million over four years. A further 10% is acquirable by incurring an additional US$2.5 million in expenditures in the subsequent two years.

Teck Cominco will become operator and has also agreed to subscribe to 3 million Sonora Gold units at 14 apiece for total funds of $420,000. Units are comprised of shares plus warrants, exercisable at 20 for two years.

San Enrique is within Sonora Gold’s Santa Teresa district project area, in northern Sonora State, Mexico. The company acquired the porphyry target in 2002 and negotiated surface access rights in 2004, finally settling a seven-year dispute between previous operator Campbell Resources (CCH-T) and the owner.

Through a regional soil geochemistry program, Campbell Resources had identified a 4 km diameter anomaly and followed up with mapping, sampling and airborne geophysics before being interrupted by the dispute.

Results received in early-2005 from Sonora’s initial San Enrique drilling returned significant copper and moly values of up to 28 metres grading 0.15% molybdenum, 0.31% copper and 6.7 grams silver per tonne, including over 5 metres of 0.45% molybdenum, 0.9% copper and 21.3 grams silver.

San Enrique is located several km south of the company’s past producing Santa Gertrudis gold project.