Soltoro Drilling Intercepts 91.3 Metres of 129 gpt Silver Equivalent Including 11.2 Metres of 537 gpt Silver Equivalent in a Massive Sulphide Zone
TORONTO, ONTARIO -- (Marketwire) -- 01/18/13 -- Soltoro Ltd. (TSX VENTURE: SOL) has completed three additional diamond drill holes at the El Rayo primary silver project in Jalisco, Mexico. A 350 metre-deep hole was completed below the Las Bolas deposit and two holes were completed north of the La Soledad West deposit. At Las Bolas, 91.3 metres of 129 g/t silver equivalent was intersected including 11.2 metres of massive sulphide mineralization grading 537 g/t silver equivalent encountered 318.8 metres down hole. The deep hole at Las Bolas extends mineralization 70 metres down-dip from the nearest hole with a substantial increase in silver grades. At La Soledad, 0.3 metres of 3,320 g/t silver was returned extending the known high grade silver mineralization an additional 60 metres down dip.
At Las Bolas, the upper portion of the 91.3 metre mineralized intercept consists of a sulphide-poor quartz-hematite stockwork typical of the mineralization found to date in the Las Bolas deposit. The last 11.2 metres of mineralized interval intercepted a massive silver-bearing quartz-galena zone occurring in the footwall of the stockwork zone. In the following table, results are presented for the entire mineralized interval followed by results for the stockwork zone and then the sulphide zone:
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DRILLED
STYLE OF DRILL WIDTH
MINERALIZATION HOLE FROM TO (m)
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STOCKWORK & SULPHIDE RAY12-152(1) 241.7 333.0 91.3
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including 271.5 330.0 58.5
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STOCKWORK RAY12-152(1) 241.7 315.3 73.6
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Including 271.5 304.5 31.5
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SULPHIDE RAY12-152(1) 318.8 330.0 11.2
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Including 321.5 322.5 1.0
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STYLE OF DRILL Ag Au Cu Pb Zn AgEq(2)
MINERALIZATION HOLE (g/t) (g/t) (%) (%) (%) (g/t)
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STOCKWORK & SULPHIDE RAY12-152(1) 92 0.03 0.02 1.59 0.04 129
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including 119 0.05 0.02 2.46 0.04 175
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STOCKWORK RAY12-152(1) 70 0.02 less 0.20 0.03 75
than
0.01
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Including 97 0.03 less 0.23 0.01 104
than
0.01
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SULPHIDE RAY12-152(1) 278 0.13 0.10 11.51 0.14 537
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Including 535 0.21 0.15 22.74 0.16 1,045
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(1) Recovery for the interval from 310.50 m to 315.30 m was 36%.
(2) AgEq - Silver equivalent includes Au, Ag and Pb and excludes Cu & Zn.
Assuming 100% metallurgical recovery, pricing is as follows: Au -
US$1,675/oz.; Ag - US$31.30/oz.; Pb - US$1.00/lb.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "The presence of silver-rich massive sulphides at depth below the Las Bolas deposit provides Soltoro with a significant opportunity to define additional silver resources at Las Bolas. To date the Company has been primarily focused on defining open-pittable silver resources at El Rayo. In the short term three additional drill holes are being completed to the north, south and below drill hole Ray 12-152 to further test the scope of the sulphide mineralization at depth and along strike."
The presence of a sulphide-rich zone near the base of the typically sulphide-poor Las Bolas stockwork zone requires further investigation. On completion of the three planned drill holes, Soltoro will have better clarity as to the relationship of the sulphide-poor stockwork-type silver mineralization and the massive sulphide mineralization. These holes will also assist in defining the extent of this sulphide-rich mineralized zone.
At La Soledad drill holes RAY11-150 and RAY11-151 were completed to test the down-dip extension of high-grade silver intersections encountered in diamond drill holes RAY11-148 and RAY11-149. Hole deviation problems, caused by a strong north-south-trending fault zone, prevented hole RAY12-150 from reaching its intended target. Hole RAY12-151 successfully encountered mineralization assaying 0.3 metres of 3,320 g/t silver further demonstrating the high-grade silver nature of the La Soledad West zone:
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DRILLED
WIDTH(1) Ag
DEPOSIT AREA DRILL HOLE FROM TO (m) (g/t)
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La Soledad RAY12-151 216.85 217.70 0.85 1,236
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including 216.85 217.15 0.30 3,320
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(1) All widths are reported as drilled width. True width is unknown at this
time.
Drill location maps and sections may be viewed at: www.soltoro.com/projects/pdf/NR145maps.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, lead overlimits were analyzed using volumetric titration. 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.
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 59,783,037 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
