Soltoro's Equity/Royalty Partner Files NI 43-101 Technical Report on Its Coyote Project
TORONTO, ONTARIO--(Marketwired - Jul 25, 2013) - Soltoro Ltd. (TSX VENTURE:SOL) holds a total of 7,000,000 common shares or 15% of Argentum Silver Corp. (TSX VENTURE:ASL). Soltoro also retains a 3% Net Smelter Return ("N.S.R.") interest in the Coyote project whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2%.
Soltoro announces that Argentum Silver has completed and filed a Technical Report (the "Report") on Argentum Silver's 100% owned Coyote Project on SEDAR. The National Instrument ("NI 43-101") report is available on SEDAR and Argentum Silver's webpage. The report was authored by Certified Professional Geologist (C.P.G.) James R. Robinson, a "qualified person" as defined under NI 43-101. Mr. Robinson worked as a consultant for Argentum Silver from July 2011 through to March 2012 and supervised exploration programs at the Coyote Project, including the first phase of drilling on the El Tajo vein. The news release has been reviewed by Mr. Paul Cowley, P.Geo Senior Geological Consultant and Advisor to Argentum Silver, and a "Qualified Person" under NI 43-101.
The Coyote Project is located near the town of Chilicayote, within the state of Jalisco, Mexico. Road access and infrastructure are excellent. The property is approximately 150 linear kilometres southwest of Guadalajara. Topography is generally gentle to moderate. A regional electrical power line crosses the property. A Phase-III diamond-drilling program has been proposed for the El Tajo vein area on the Coyote, comprising of eight holes totalling 1,410 metres for approximately $320,000. The 1,053-hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockwork zones.
Soltoro is engaged in exploration for gold and silver deposits in Mexico. Soltoro holds in excess of 41,000 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. with a 3% N.S.R. payable on Argentum Silver's Victoria and Coyote properties. Soltoro's La Tortuga project is under option to Gold Reserve Inc. Soltoro has 59,783,037 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL. Coeur Mines Inc. holds 4.5 million shares of Soltoro Ltd.
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. 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.
