Teck Cominco, Sonora partner in Mexico

Vancouver — Mexican explorer Sonora Gold (SGG-V) has partnered with Teck Cominco (TEK-T) on its San Enrique copper-molybdenum project in northern Sonora state, Mexico.

The junior granted Teck Cominco an option to earn a 60% interest in the base metals property by spending US$3 million over four years. Teck can earn an additional 10% by spending US$2.5 million during the two years after that.

Teck Cominco will act as operator and will buy 3 million Sonora units at 14 apiece for a total of $420,000. (The units consist of shares plus warrants, exercisable at 20 for two years.)

San Enrique is part of the Santa Teresa project in northern Sonora state. Sonora Gold acquired the porphyry target in 2002 and negotiated surface rights in 2004, thereby settling a 7-year dispute between the previous operator, Campbell Resources (CCH-T), and the property’s owner.

Through geochemical surveys, Campbell had identified an anomaly measuring 4 km in diameter and followed it up with mapping, sampling and airborne geophysics. The dispute, however, put the project on hold.

Drilling by Sonora in early-2005 returned 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 situated a few kilometres south of the company’s past-producing Santa Gertrudis gold project.