Soltoro Intercepts 18 Metres of 161 g/t Silver Including 4.5 Metres of 378 g/t Silver in Discovery Zone at El Rayo Project
20.06.2012 | Marketwired
TORONTO, ONTARIO -- (Marketwire) -- 06/20/12 -- Soltoro Ltd. (TSX VENTURE: SOL) has completed in excess of 10,000 metres of this year's planned 20,000 metre drill program at its El Rayo primary silver project in Jalisco, Mexico. Results from the latest round of drilling include high-grade silver intercepts of 1.2 metres of 706 g/t silver at the La Soledad West deposit and 4.5 metres of 378 g/t silver in a newly discovered zone east of the Matachines mine at the south end of the Las Bolas structure. Drilling continues in order to expand existing silver resources along extensions of known resource areas and at newly identified prospective exploration target areas.LA SOLEDAD WEST AREA: A total of sixteen diamond drill holes and four reverse-circulation holes were completed in this area. Drilling tested the western extension of the La Soledad deposit and several Induced Polarization anomalies. Further diamond drilling is planned to test the resource potential of the La Soledad West deposit at depth. Selected results are as follows:
---------------------------------------------------------------------------
DRILL Ag
TARGET AREA HOLE (1) FROM TO WIDTH (2)(m) (g/t)
---------------------------------------------------------------------------
La Soledad Western Shoot Ray12-122 111.4 112.9 1.5 45
187.7 192.25 4.55 13
---------------------------------------------------------------------------
La Soledad Western Shoot Ray12-125 129.3 130.5 1.2 147
142.5 144.8 2.3 391
including 142.5 143.7 1.2 706
---------------------------------------------------------------------------
La Soledad West
Extension Ray12-133 131.0 132.0 1.0 330
---------------------------------------------------------------------------
La Soledad West
Extension Ray12-134 91.5 93.0 1.5 21
---------------------------------------------------------------------------
La Soledad West
Extension Ray12-135 94.3 95.9 1.6 90
---------------------------------------------------------------------------
La Soledad West
Extension Ray12-137 267.0 268.4 1.4 168
including 267.85 268.4 0.55 283
---------------------------------------------------------------------------
La Soledad West
Extension Ray12-140 246.4 247.2 0.8 85
---------------------------------------------------------------------------
La Soledad Central Shoot
IP Anomaly 'J' Ray12-139 (3) 0.0 16.5 16.5 41
including 7.5 16.5 9.0 49
---------------------------------------------------------------------------
La Soledad IP Anomaly F RC12-145 120.0 121.5 1.5 280
---------------------------------------------------------------------------
(1) Ray = Diamond drill RC=Reverse circulation drill. Ray= Diamond
RC=Reverse Circulation.Ray12-126 through Ray12-132, Ray12-136, Ray12-
146, Ray12-147, RC12-144, RC12-146 & RC12-147 contained no significant
values. Results from holes Ray12-142 & Ray12-143 are pending.
(2) All widths are reported as drilled width.
(3) Overall recovery for this interval was 75%. Recovery for the interval
0.3m to 3.0m was 42% and 12.0m to 13.5m was 40%.
Andrew Thomson, President of Soltoro Ltd., stated: "The discovery of a new near-surface high-grade silver zone east of the Las Bolas deposit and northeast of the La Soledad deposit is another indication of the potential to expand the current silver resource base at El Rayo. Two drill rigs continue to operate on the property."
MATACHINES EAST: A total of four diamond drill holes and two reverse-circulation holes were completed in this area. Drilling tested the Las Bolas structure and a silver soil anomaly 200 metres east of the Matachines mine area. RC12-149 intersected a new, previously unknown, high-grade silver structure. Further drilling is underway to determine the extent of the mineralization. Results are as follows:
----------------------------------------------------------------------------
WIDTH Pb Au Ag
TARGET AREA DRILL HOLE (1) FROM TO (2)(m) (%) (g/t) (g/t)
----------------------------------------------------------------------------
Matachines Ray11-119 1.5 10.5 9.0 1.56 0.19 29
18.0 19.5 1.5 2.81 0.25 99
28.5 33.0 4.5 0.55 0.04 35
----------------------------------------------------------------------------
Matachines Ray12-138 70.5 76.5 6.0 1.51 0.11 39
including 70.5 73.5 3.0 2.46 0.20 48
----------------------------------------------------------------------------
Matachines East RC12-148 94.5 97.5 3.0 - - 36
----------------------------------------------------------------------------
Matachines East RC12-149 46.5 64.5 18.0 - - 161
49.5 63.0 13.5 - - 205
55.5 60.0 4.5 - - 378
----------------------------------------------------------------------------
(1) Ray = Diamond drill RC=Reverse circulation drill. Ray12-120 and Ray12-
141 contained no significant values.
(2) All widths are reported as drilled widths.
PIEDRAS AMARILLAS AREA: A total of fifteen reverse-circulation holes were completed in this area. Drilling tested a series of silver soil and Induced Polarization anomalies. Further drilling is planned. Results are as follows:
----------------------------------------------------------------------------
DRILL Ag
TARGET AREA HOLE (1) FROM TO WIDTH (2)(m) (g/t)
----------------------------------------------------------------------------
Piedras Amarillas West RC12-120 54.0 64.5 10.5 38
including 58.5 63.0 4.5 59
138.0 139.5 1.5 52
----------------------------------------------------------------------------
Piedras Amarillas West RC12-121 15.0 25.5 10.5 33
----------------------------------------------------------------------------
Piedras Amarillas West RC12-122 48.0 52.5 4.5 33
----------------------------------------------------------------------------
Piedras Amarillas West RC12-123 88.5 99.0 10.5 32
including 88.5 91.5 3.0 55
----------------------------------------------------------------------------
Piedras Amarillas West RC12-124 202.5 204.0 1.5 56
----------------------------------------------------------------------------
Piedras Amarillas West RC12-125 130.5 132.0 1.5 32
----------------------------------------------------------------------------
Piedras Amarillas West RC12-126 90.0 93.0 3.0 23
----------------------------------------------------------------------------
Piedras Amarillas West RC12-128 24.0 25.5 1.5 29
----------------------------------------------------------------------------
Piedras Amarillas East RC12-130 21.0 24.0 3.0 25
31.5 39.0 7.5 54
including 33.0 34.5 1.5 151
----------------------------------------------------------------------------
Piedras Amarillas East RC12-133 37.5 40.5 3.0 26
----------------------------------------------------------------------------
Piedras Amarillas East RC12-134 48.0 51.0 3.0 25
55.5 60.0 4.5 27
----------------------------------------------------------------------------
(1) Ray = Diamond drill RC=Reverse circulation drill. Ray12-127, Ray12-129,
Ray12-131 and Ray12-132 contained no significant values.
(2) All widths are reported as drilled widths.
HIGHWAY ZONE EXTENSION SOUTHWEST: Two diamond drill holes were completed in this area. Drilling tested mineralization below the historic Aquacero mine. Drilling failed to intercept any significant mineralization:
----------------------------------------------------------------------------
TARGET AREA DRILL HOLE (1) FROM TO WIDTH(2)(m) Ag (g/t)
----------------------------------------------------------------------------
Aguacero Ray12-121 111.7 113.8 2.1 16
190.5 193.5 3.0 27
----------------------------------------------------------------------------
Aguacero Ray12-123 44.2 54.9 10.7 4
----------------------------------------------------------------------------
(1) Ray = Diamond drill RC=Reverse circulation drill.
(2) All widths are reported as drilled widths.
MESA COLORADA: Two reverse-circulation holes were completed in this area. Drilling tested a ground magnetic anomaly and associated color soil anomaly. Drilling failed to intercept significant mineralization.
A drill hole location map and sections of the newly drilled holes from the Soledad structure may be viewed at:
http://www.soltoro.com/projects/pdf/NR130_Figures.pdf
Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Gold was analyzed using a 30g fire assay with AA finish while the silver is analyzed using a four acid "near total" digestion package. 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. Field supervision of the El Rayo project is provided by Mr. Patrick Toth, P. Geo., Vice President of Operations, Soltoro Mexico.
About Soltoro:
Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. Soltoro holds in excess of 55,000 hectares of ground in Jalisco State. The Company has a diamond drill rig and a reverse circulation drill rig operating at the El Rayo silver project with the objective of expanding the existing NI 43-101 silver resource. Soltoro has optioned three 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 59,118,037 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
