Soltoro Drills 7 Metres of 1 Kilogram Silver & 6.9 Metres of 527 GPT Silver at El Rayo Primary Silver Deposit
April 20 2011 - 9:34AM
Marketwired
Soltoro Ltd. (TSX VENTURE: SOL) has received results for 3 of 4
diamond drill holes completed on the Soledad structure at the Las
Bolas primary silver deposit in Jalisco, Mexico. Drill hole
Ray11-60 intersected high-grade silver over significant widths in a
near-surface ore shoot (see Table below). The previously untested
Soledad structure is located southwest of the Las Bolas structure
and north of the northwest-trending Catarina structure, where
high-grade silver ore shoots were mined by the Spaniards beginning
in 1546. The Soledad structure is covered by one to three metres of
overburden and has been traced over a 400 metre strike length. It
remains open along strike in both directions. Mineralization from
the Soledad structure could add significant high-grade silver
tonnage to the existing NI 43-101-compliant silver resource
outlined at Las Bolas. Results are as follows:
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Silver Silver
Drill Width(1) Gold (gpt) (gpt)
Hole From To (metres) (gpt) Uncut Cut(2)
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Ray11-59 58.5 68.7 10.2 0.022 78 78
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including 66.0 68.7 2.7 0.076 203 203
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Ray11-60 26.0 47.6 21.6 0.098 388 286
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including 40.6 47.6 7.0 0.274 1,010 695
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including 40.6 42.5 1.9 0.586 2,160 1000
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59.7 66.6 6.9 0.089 527 511
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including 65.0 66.6 1.6 0.150 1,070 1000
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Ray11-61 48.1 54.5 6.4 0.020 164 124
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including 49.1 49.7 0.6 0.092 1,420 1000
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(1)All intersections are reported as drilled thickness. True widths are not
known at this time but are believed to be similar to drilled widths.
(2)All values greater than 1,000 g/t Au cut to 1,000 g/t Ag.
Soltoro is awaiting results for the fourth and eastern-most hole
completed on the Soledad structure. Drilling is currently underway
down-dip from hole Ray11-58 on the Las Bolas structure, 200 metres
south of the Matachines Mine. This hole is designed to test the Las
Bolas structure in the upper part of the hole and the intersection
of the Soledad and Las Bolas structures at depth. Once completed,
Soltoro will move the drill rig back to the Soledad area with
follow-up holes to be drilled above, and on either side of, the
high-grade intervals in holes Ray11-60 and Ray11-61. This will help
determine the extent of the mineralization and the plunge of the
high grade shoot identified in hole Ray11-60.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated:
"The discovery of near surface high-grade silver ore shoots on the
Soledad structure is a strong validation of the continued
exploration potential of this historic district. The Soledad
mineralization occurs within an offsetting fault which is
interpreted to intercept the southern end of the Las Bolas
structure and the north eastern end of the Highway Zone. The
Company has contracted a second drill to accelerate investigation
of these structures."
At Soledad, mineralization is hosted within a sub-horizontal
intermediate to mafic volcanic unit consisting of massive flows and
interbedded fragmental units of similar composition. The
mineralization is associated with strongly hematite-altered
structures in association with quartz-calcite veins as part of
wider intervals of highly sheared and brecciated volcanic wall
rocks. Minor amounts of visible sulphides, including chalcopyrite
and pyrite and their oxidation products, are also present.
Anomalous lead and zinc values returned are likely related to minor
amounts of galena and sphalerite. The structural relationship
between the two mineralized intersections in hole Ray11-60 and the
one mineralized intersection in hole Ray11-61, which is beneath it
(see sections in web link below), is not clear. All three
intersections occur at shallow depths.
A drill hole location map and sections from the Soledad
structure may be viewed at:
http://www.soltoro.com/projects/pdf/DHApr19Soledad.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. The Company continues to expand the
existing NI 43-101 compliant primary silver resource on its El Rayo
project. Soltoro has optioned a portion of its Quila claim to
Timmins Gold Corp., optioned its Victoria and Coyote claims to
Argentum Silver Corp. and is actively advancing its La Tortuga,
Chinipas, El Santuario and Pena Grande projects. Soltoro has
49,378,768 shares outstanding and trades on the TSX Venture
Exchange under the symbol SOL.
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