Soltoro's El Rayo Silver Deposit NI 43-101 Resource Report Filed on SEDAR
August 02 2011 - 8:00AM
Marketwired Canada
Soltoro Ltd. (TSX VENTURE:SOL) has filed its NI 43-101 resource estimate for its
100% owned El Rayo silver project on SEDAR and made it available on the
Company's website. The report was prepared by Roscoe Postle Associates Inc.
("RPA"). The El Rayo property is located approximately 110 km west-northwest of
Guadalajara, Jalisco State, Mexico. The NI 43-101 compliant Mineral Resources
were estimated by RPA and include an updated estimate of the Mineral Resources
of the Las Bolas Structure, the Highway Zone, and the northern extension of the
El Rayo Structure.
Soltoro has defined significant bulk-tonnage silver resources on the northeast
trending Las Bolas and Highway Zone structures. The table below lists the
Mineral Resources for the Las Bolas and Highway Zones:
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Las Bolas & Highway Zone Deposit Silver Resource
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Contained
Cut-off grade Tonnes Average Grade ounces of
Deposit Area (g/t Ag) (millions) (g/t Ag) Silver
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Measured Mineral Resources
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Las Bolas 20 5.90 63.86 12,100,000
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Indicated Mineral Resources
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Las Bolas 20 24.20 51.17 39,900,000
Highway Zone 20 3.50 56.54 6,300,000
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Total Measured and Indicated Mineral Resources
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Las Bolas &
Highway Zone 20 33.60 54.00 58,300,000
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Inferred Mineral Resources
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Highway Zone 20 0.20 44.34 300,000
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Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources were estimated using prices of US$27/oz Ag. No
credits are assigned for other metals.
3. Metallurgical recovery is assumed to be 74% of the contained silver.
4. High silver values are cut to 400 g/t Ag.
5. The Las Bolas deposit is modeled at a minimum of 5 m true thickness of
mineralization.
6. The numbers for tonnage, average grade and contained ounces of silver
are rounded figures.
7. The above resources are constrained by a Whittle optimized pit shell
and constitute 87% of the modelled mineralization is within a
conceptual open pit for the Las Bolas Structure and 64% for the
Highway Zone.
The Company has also been investigating the gold potential at the north end of
the El Rayo structure. Previous drilling had identified a gold zone one
kilometre in strike length. At a pit discard cut-off grade of 0.35 g/t Au, the
resource estimate for the northernmost 250 metres of the gold structure is
reported by RPA as follows:
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El Rayo Northern Zone Gold Resource
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Cut-off grade Tonnes Average Grade Contained
Deposit Area (g/t Au) (thousands) (g/t Au) ounces of Gold
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Indicated Mineral Resources
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El Rayo North 0.35 380 1.85 22,600
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Inferred Mineral Resources
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El Rayo North 0.35 365 1.61 18,900
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Notes:
1. CIM definitions were followed for mineral resources.
2. Mineral Resources were estimated using prices of US$1,300/oz Au. No
credits were assigned for other metals.
3. Metallurgical recovery is assumed to be 90% of the contained gold.
4. The Rayo Extension deposit is modeled at a minimum of 5 m vertical
thickness of mineralization.
5. The numbers for tonnage, average grade and contained ounces of gold
are rounded figures.
6. The above resources are constrained by a Whittle optimized pit shell.
A copy of the full resource estimation report is available on the SEDAR website
and by following this link on Soltoro's website:
http://www.soltoro.com/projects/pdf/Soltoro/RPA2011-ElRayoNI43-101.pdf
The Mineral Resources were estimated by Hrayr Agnerian, M.Sc. (Applied), P.Geo.,
Associate Principal Consulting Geologist with RPA. Mr Agnerian is the Qualified
Person for the purposes of National Instrument 43-101 Standards of Disclosure
for Mineral Projects of the Canadian Securities Administrators, and has verified
the data disclosed in this release.
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.