Soma Gold Expands Operational Footprint with Acquisition of La Escondida Mine in Colombia
ArcStone Financial Pulse | July 15, 2025
Soma Gold Corp. (TSXV: SOMA, OTCQB: SMAGF) (“Soma” or the “Company) is a Canadian gold producer operating two underground mines and two fully permitted mills in Antioquia, Colombia, along the prolific Otú Fault corridor. The company’s platform combines production, exploration, and infrastructure scales with a focus on self-funded growth and margin expansion.
This week, Soma announced the acquisition of the La Escondida Mine, a permitted small-scale operation located near its El Limón mill. The acquisition enhances Soma’s resource flexibility, increases mill utilization, and provides immediate upside through near-mine exploration.
Acquisition Overview
Soma has signed an agreement to acquire 100 percent of the rights to the 1,051-hectare La Escondida concession, located in Cáceres, Antioquia. The acquisition includes all associated mining and environmental permits, underground infrastructure, inventory, and equipment. The site is located approximately 1.5 hours by truck from Soma’s El Limón processing facility and is accessible via existing mine roads.
Key terms:
- Purchase price: US $3M
- US $1M at closing
- US $500,000 on each of the first and second anniversaries
- US $1M on the third anniversary
- NSR royalty: 0.5 percent on all gold produced from Escondida, purchasable at any time for US $750,000
The Escondida vein system has been partially mined through small-scale underground methods, with approximately 200 meters of strike length accessed to a depth of 105 meters. Historical grades from the operation average approximately 9.0 grams per ton gold, based on ore currently being processed through an informal on-site mill. The vein has been traced 800 meters along strike and is accompanied by a 1-3 meter thick alteration halo, which is also variably mineralized.
An initial 2,500 meter drill program is planned for the third quarter of 2025 to define the strike and depth potential of the Escondida vein and begin quantifying a National Instrument 43-101 compliant resource. At least five additional veins have been identified on the property based on surface prospecting and prior informal workings, none of which have been systematically explored.
Strategic Fit
The acquisition of Escondida fits directly within Soma’s strategy to consolidate high-grade, mill-proximate deposits that can be integrated rapidly into production. Ore from Escondida will be trucked to the El Limón mill, which is expected to resume operations in the third quarter of 2025 following upgrades.
Soma’s CEO Geoff Hampson stated that Escondida ore is expected to increase the average head grade at the mill, given its higher grades relative to existing stockpiles from the Cordero and Aurora mines. Resource conversion at Escondida may also support the company’s next NI 43-101 technical report, targeted for early 2026.
ArcStone View
The acquisition of La Escondida reflects Soma’s disciplined approach to scaling production through existing infrastructure and near-mine opportunities. With fully permitted mills, accessible haulage routes, and above-average feed grades, the integration of Escondida is structured to generate near-term returns without material capital outlay.
The project also offers exploration leverage. With no prior drilling and multiple veins untested, Escondida adds both grade and growth potential. In a market where many juniors remain bottlenecked by permitting or development timelines, Soma continues to distinguish itself as an operator with active production, permitted capacity, and district-scale optionality.
ArcStone will continue to track drill results, throughput updates, and development milestones as Soma advances its consolidation strategy across the Otú Fault region.
