Soltoro Intercepts 65.6 Metres of 120 gpt Silver at the El Rayo Project
July 21 2011 - 9:09AM
Marketwired Canada
Soltoro Ltd. (TSX VENTURE:SOL) has received results for an additional six
diamond drill holes at the El Rayo primary silver deposit in Jalisco, Mexico.
The east-west-trending Soledad structure represents a new and significant
mineralised zone unknown at the time of the recently released NI 43-101 measured
and indicated resource of 58.3M ounces of contained silver (NR98-June 14, 2011).
To date, the Soledad structure, which contains high-grade ore shoots, has been
outlined by 15 drill holes over a strike length of 500 metres. Currently two
diamond drills are testing the extent of the mineralization at Soledad, which
remains open along strike in both directions as well as at depth. Select drill
results were returned as follows:
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Section Drill From To Width(2) Ag
Structure Line Hole(1) (m) (m) (m) (g/t)
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Soledad 565975 Ray11-71 48.5 114.1 65.6 120
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including 60.5 62.9 2.4 563
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including 81.5 86.0 4.5 213
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including 111.2 113.0 1.8 328
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Soledad 565925 Ray11-72 50.6 79.5 28.9 67
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including 54.0 69.0 15.0 96
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Soledad 565875 Ray11-75 68.0 93.0 25.0 124
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99.0 102.4 3.4 60
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112.5 117.5 5.0 247
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(1) Drill hole Ray11-73 was released previously in NR99. Holes Ray11-74,
Ray11-76, Ray11-77 did not intersect significant mineralisation.
(2) All intersections are reported as drilled thickness. True widths are
not known at this time.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "At Soledad,
previously released drill results have been limited to single holes on each
section with select high-grade silver intersections returning 30 to 65 metre
widths averaging between 100 to 300 g/t silver. Step-out drilling is underway to
establish the third dimension to define a resource at Soledad. The current drill
program is designed to test high-grade silver ore shoots at Soledad which were
not included in the 58.3 M ounce silver resource defined at Las Bolas and the
Highway Zone."
Holes Ray11-71, Ray11-72 and Ray11-75 are located between the high-grade
intersection in Ray11-69 (NR99 - 53.7 m averaging 115 g/t Ag) to the west and
Ray11-62 (NR96 - 7.1 m averaging 122 g/t Ag) to the east. These intersections
confirm the robust nature of the mineralization in this, the first mineralized
shoot identified along the Soledad structure. As currently interpreted, this
mineralized shoot extends continuously over 225 metres along strike to the east
of the initial discovery in Ray11-60 (NR96 - 7.0 m averaging 1,101 g/t Ag uncut
& 6.9 metres averaging 527 g/t Ag) and plunges to the northeast. The first drill
is conducting step-out drilling to test this ore shoot at depth with more
drilling planned to test to the east of Ray 11-62.
Hole Ray11-74 was drilled 50 metres west of Ray11-60 and establishes the western
limit of the first mineralized shoot. A poorly mineralized section of the
Soledad structure lies between the first mineralized ore shoot and the next
shoot 200 m to the west in Ray11-73 (NR99 - 33.5 m averaging 198 g/t Ag). The
second drill is testing the extent of this second ore shoot along strike.
Hole Ray11-76 was drilled 275 metres southwest of the Matachines Mine to test
the southern end of the Las Bolas structure and penetrated a substantial fault
zone sub-parallel to the drill hole. No mineralization was intersected in this
hole. Hole Ray11-77 was drilled parallel to the dip in the footwall of the
Soledad structure. This hole was drilled purely for structural purposes and no
mineralization was expected or encountered. Hole Ray11-77 confirmed the
northward dip of the Soledad structure.
A drill hole location map and sections of the newly drilled holes from the
Soledad structure may be viewed at:
http://www.soltoro.com/projects/pdf/DHJuly21Soledad.pdf
On June 14, 2011, Soltoro released an in-pit mineral resource estimate for the
Las Bolas and Highway Zone mineral deposits at its 100% owned El Rayo
silver-gold project in Jalisco, Mexico (NR98-June 14, 2011). At the cut-off
grade of 20 g/t Ag the Measured and Indicated Mineral Resources are 33,600,000
tonnes at an average grade of 54 g/t Ag containing approximately 58.3 million
ounces of silver, and 200,000 tonnes of Inferred Mineral Resources at an average
grade of 44.3 g/t silver, containing approximately 300,000 ounces of silver. 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. The Company has two diamond drills operating at the El Rayo silver
project with the objective of expanding the existing NI 43-101 silver resource.
An orientation drill program is also being carried out at the Chinipas project
in the State of Chihuahua to investigate the potential for a bulk mineable gold
deposit. Soltoro has optioned a portion of its Quila claim to Timmins Gold Corp.
and optioned its Victoria and Coyote claims to Argentum Silver Corp. The Company
continues to actively advance its La Tortuga, El Santuario and Pena Grande
projects. Soltoro has 54,719,482 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