Soltoro's Channel Sampling Returns 24 gpt Gold and 333 gpt Silver & 12.5 gpt Gold and 512 gpt Silver at Tecolote in Jalisco, Mexico
TORONTO, ONTARIO -- (Marketwire) -- 11/16/12 -- Soltoro Ltd. (TSX VENTURE: SOL) has received positive gold and silver assay results from ongoing mapping and sampling on its 100% owned Tecolote Project in Jalisco, Mexico. The 3,052 hectare Tecolote Project is located less than 10 kilometres north of Soltoro's El Rayo primary silver project and 10 kilometres northeast of Grupo Mexico S.A.B. de C.V.'s El Barqueno property currently optioned to Cayden Resources Inc.
The Carmelita vein system has been traced for over 40 metres at surface where sampling returned numerous high-grade gold and silver values including 24.0 g/t gold and 333 g/t silver over 0.8 metres, 12.5 g/t gold and 512 g/t silver over 0.7 metres and, 8.4 g/t gold and 172 g/t silver, all from channel samples. The San Eusebio vein system has been traced for over 150 metres at surface where sampling returned numerous high-grade gold and silver values including 12.9 g/t gold and 12 g/t silver over 1.0 metre and 6.4 g/t gold and 6 g/t silver over 1.0 metre, both from channel samples. Selected results are as follows:
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TARGET AREA: SAMPLE TYPE(1): WIDTH(2)(m): Au (g/t) Ag (g/t)
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Carmelita Channel 5.1 1.6 70
including 3.1 2.4 107
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Carmelita Dump NA 5.6 318
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Carmelita Chip 0.9 3.1 196
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Carmelita Chip 0.9 1.1 41
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Carmelita Chip 3.95 1.0 52
including 0.8 3.3 154
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Carmelita Channel 2.3 5.8 305
including 1.35 8.4 456
including 0.7 12.5 512
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Carmelita Channel 1.1 8.0 172
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Carmelita Channel 0.85 24.0 333
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Carmelita Channel 1.55 5.0 237
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Carmelita Channel 0.5 3.9 296
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Carmelita Channel 1.3 7.8 77
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Veta Grande Chip 0.55 0.2 41
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Veta Grande Chip 1.1 2.5 13
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San Eusebio Channel 1.0 1.5 3
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San Eusebio Channel 1.2 3.2 7
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San Eusebio Channel 1.0 0.4 17
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San Eusebio Channel 1.5 1.5 18
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San Eusebio Channel 1.0 12.9 12
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San Eusebio Channel 1.0 6.4 6
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San Eusebio Channel 1.7 2.7 14
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San Eusebio Channel 0.5 5.6 97
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La Majahua Channel 1.0 1.8 17
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La Majahua Channel 0.8 1.3 40
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La Majahua Channel 1.0 0.6 22
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(1)Channel samples are continuous samples cut with a portable rock saw while
chip samples are continuous samples taken with a rock hammer.
(2)Samples are reported as sampled widths.
A ground magnetic survey over the Carmelita zone was recently completed which would suggest the structure may have a strike length of 550 metres. Further mapping and sampling is planned at Carmelita to establish the strike of the structure.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Currently we have two geologists assigned to Tecolote with additional staff assisting to complete regional mapping, sampling and ground magnetic surveys. Detailed mapping and sampling continue in order to define the extent of the high-grade gold silver zones. Trenching, followed by drilling, can be initiated once permits have been obtained. The permitting process is expected to be completed in 2013."
A location map and sample area maps may be viewed at: http://www.soltoro.com/projects/pdf/NR141maps.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 Tecolote 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 an interest in an excess of 55,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project while seeking partners to advance the balance of its projects. Soltoro holds 15% of the common shares of Argentum Silver Corp. and a 3% N.S.R. payable to Soltoro on the Victoria and Coyote properties. Soltoro's La Tortuga project has been optioned to Gold Reserve Inc. Soltoro has 59,408,037 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
