Soltoro and Argentum Silver Intercept 2.4 Metres of 900 gpt Silver Including 1.2 Metres of 1,645 gpt Silver at Coyote Project in Jalisco State
06.03.2012 | Marketwired
TORONTO, ONTARIO -- (Marketwire) -- 03/06/12 -- Soltoro Ltd. (TSX VENTURE: SOL) and Argentum Silver Corp. (TSX VENTURE: ASL) are pleased to announce assay results from three additional diamond drill holes completed on the El Tajo vein at the Coyote property located in Jalisco, Mexico.Highlights include 2.4 metres of 900 g/t silver from hole 2012-7, including 1.2 metres grading 1,645 g/t silver. This hole also hit a second vein grading 403 g/t silver over 2.5 metres. Highlights of holes numbered 2012-5 through 2012-7 are as follows:
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TRUE
HOLE FROM TO WIDTH Ag Au Pb Zn
ID (m) (m) (m)(i) (g/t) (g/t) (%) (%)
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2012-5 72.00 76.40 4.40 43 0.25 0.72 0.96
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2012-6 100.80 101.80 1.00 143 0.31 0.62 1.95
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2012-7 13.60 16.10 2.50 403 0.19 0.19 0.07
76.60 79.00 2.40 900 0.45 0.26 0.99
including 76.60 77.80 1.20 1,645 0.65 0.22 1.36
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(i) True widths are estimated to be roughly 70% of drill intercept length.
The three angled holes ranged from 88.9 to 127.4 metres in depth, for a total of 330.7 metres. Argentum Silver has now tested a total of 420 metres of the strike of the El Tajo vein. An eighth drill hole has been completed on the El Tajo vein approximately 50 metres south of hole 2012-7, and Argentum Silver is awaiting assay results from that hole. The first phase program will also test portions of three other mineralized zones within the property area, including La Florida, Bocancha and La Colorada.
Highlights from drill holes 2012-1 through 2012-4 included an intercept of 2,745 g/t silver over 2.0 metres in hole 2012-3. Results from these four holes are available at:
http://www.soltoro.com/news/pdf/NR122.pdf
The 1053-hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockwork. Most of the mineralization occurs within six defined zones within an area of approximately 1.5 x 2.6 kilometres. Vein widths typically range from 1 to over 5 metres. Zones of stockwork have locally been mapped over widths exceeding 35 metres. Over one hundred historic workings and prospects explored and partially developed the district through the early 1900's. Historic production concentrated on 'bonanza' silver grades with operational depths limited by the high water table.
About the Coyote Property
The Coyote project is located near the town of Chilicoyote, within the state of Jalisco, Mexico. Road access and infrastructure are excellent. The property is approximately 150 linear kilometres southwest of the capital city of Guadalajara, and roughly a 3 1/2 hour drive. Topography is generally gentle to moderate. A regional electrical power line crosses the property.
Soltoro currently holds 2.1M common shares of Argentum Silver and stands to receive an additional 3.5M common shares over the course of the option agreement. On completion of the terms of the agreement, Argentum will acquire a 100% undivided interest in Soltoro's Victoria and Coyote silver-gold projects. Soltoro retains a 3% NSR interest in each project whereby up to 2% can be purchased for US $1.5 million per 1% NSR. Soltoro holds in excess of 55,000 hectares of ground in Jalisco State. At Soltoro's 100% owned El Rayo primary silver project, two drills are operating to further expand the existing silver resource. For more information on Soltoro's projects please visit www.soltoro.com.
Mr. Steven T. Priesmeyer, C.P.G., Vice President of Exploration for Soltoro Ltd. and a qualified person as defined by NI 43-101 has reviewed and approved the contents of this press release. Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Analytical procedures include a 33-element ICP-AES analysis (ME-ICP61m) and a 50 g FA AA finish for gold (AA-24). Silver assays exceeding 100 g/t are re-assayed by HCL leach with an ICP-AES or AAS finish (OG62).
About Soltoro:
Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. The Company has two diamond drills operating at the El Rayo silver project with the objective of expanding the existing NI 43-101 silver resource. Soltoro has optioned several of its properties in Jalisco State. The Company is seeking partners to advance its Chinipas, La Tortuga, El Santuario and Pena Grande projects. Soltoro has 58,948,037 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL. Coeur d'Alene Mines Corp. holds 4.5 million shares of Soltoro Ltd.
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Soltoro Ltd.
Andrew Thomson, President
(416) 987-0722
www.soltoro.com
