Sonoro Metals Corp. said Dec. 28 that it terminated an option deal with Northern Empire Resources Corp. regarding the Hilltop gold project in Alaska and will focus on exploration at its gold and silver projects in Mexico's Sonora state instead.
In March 2015, Sonoro signed a letter of intent to acquire a 60% interest in Northern Empire's Hilltop by agreeing to spend C$3 million on exploration and issue 1 million shares to Northern Empire before Dec. 31, 2019. The company did not incur any expenditures on the project during in 2018.
Coeur Mining Inc. in October closed its acquisition of Northern Empire in an all-share deal.
Sonoro's 10,000 meter drill program at the Cerro Caliche gold project in Mexico will continue into the first quarter of 2019, while exploration activities at the nearby San Marcial gold-silver project are expected to advance toward the drilling phase during 2019.