Soltoro Trenching Expands Silver Gold Potential at El Rayo Project in Jalisco, Mexico
26.06.2012 | Marketwired
TORONTO, ONTARIO -- (Marketwire) -- 06/26/12 -- Soltoro Limited (TSX VENTURE: SOL) recently concluded a ground geophysical survey over the entire El Rayo Project which served to identify a possible structural extension to the gold resource area. To date Soltoro has defined Indicated Mineral Resources of approximately 22,600 ounces of gold and Inferred Mineral Resources containing approximately 18,900 ounces of gold on the northwest end of the El Rayo structure. The most promising area sampled to date is the La Ocotera zone, which is located to the northwest of the El Rayo gold resource and would add approximately 750 metres of prospective structure to be explored. Results of trenching completed to date include intercepts of 4.8 metres of 1.01 g/t gold and 6.5 metres of 0.91 g/t gold in the La Ocotera area. Selected results from trenching and rock sampling were returned as follows:----------------------------------------------------------------------------
WIDTH(1)
TARGET AREA TRENCH FROM TO (metres) Au (g/t) Ag (g/t)
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Guachinangillo GUA-2 3.0 3.6 0.6 0.66 28
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Guachinangillo GUA-3 4.2 5.1 0.9 0.37 16
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Guachinangillo GUA-4 2.1 2.7 0.6 0.60 13
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La Ocotera OCO-1 0.0 4.8 4.8 1.01 8
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La Ocotera OCO-2 7.5 14.0 6.5 0.91 6
including 7.5 10.5 3.0 1.48 4
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La Ocotera OCO-3 2.2 4.2 2.0 0.29 27
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(1) Sampled width. True width is unknown at this time.
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TARGET AREA: SAMPLE NUMBER: Au (g/t) Ag (g/t)
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La Ocotera 64957 0.50 26
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La Ocotera 64960 0.26 4
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La Ocotera 64961 0.84 122
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La Ocotera 64962 0.40 27
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La Ocotera 64963 0.21 4
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La Ocotera 64964 1.30 11
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La Ocotera 738180 0.88 11
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Las Palmas 749493 0.40 5
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Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Two drills continue to operate to expand the existing silver resource while regional mapping and sampling are ongoing to increase the mineralized footprint at El Rayo. Further exploration, consisting mainly of geochemical programs, is underway to better understand the gold potential along strike from the existing gold resource."
Trenching and rock sampling location maps for the EL Rayo gold zone may be viewed at:
http://www.soltoro.com/projects/pdf/NR131.pdf
Drilling to date on the northwest end of the El Rayo structure had identified a gold zone one kilometre in strike length. On December 20, 2011, Soltoro released a mineral resource estimate for the El Rayo Northern Zone deposit at its 100% owned El Rayo silver-gold project in Jalisco, Mexico (NR117-December 20, 2011). At the cut-off grade of 0.35 g/t Au the Indicated Mineral Resources are 380,000 tonnes at an average grade of 1.85 g/t gold containing approximately 22,600 ounces of gold, and 365,000 tonnes of Inferred Mineral Resources at an average grade of 1.61 g/t gold, containing approximately 18,900 ounces of gold. The mineral resource estimate was prepared by Hrayr Agnerian, M.Sc. (Applied), P.Geo., Associate Principal Consulting Geologist with Roscoe Postle Associates Inc. and is compliant with National Instrument (NI) 43-101. Mr Agnerian is the Qualified Person for the purposes of National Instrument 43-101.
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
