Soltoro Reports Drill Results from Chinipas Gold Property in Chihuahua State, Mexico
28.10.2011 | Marketwire
TORONTO, ONATARIO -- (Marketwire - Oct. 28, 2011) - Soltoro Ltd. (TSX VENTURE: SOL) recently completed an eight hole, 1,821 meter drill program designed to test the bulk tonnage gold potential at its 100%-owned Chinipas Project in Chihuahua State, Mexico. The Chinipas property covers 1,421 hectares and is located 13 km north of the town of Chinipas.At Chinipas, gold mineralization occurs in sheeted quartz-pyrite-tourmaline veins and veinlets hosted by a strongly fractured quartz-feldspar porphyry. Local prospectors have mined coarse, visible gold from several veins on the property. Sampling of the veins has returned 17.65 g/t gold over 15 cm, 2.92 g/t gold over 2.0 metres, 2.49 gold over 1.3 metres and 2.14 g/t gold from a 3.0 metre by 3.0 metre panel sample. Veining occurs along a 3.5 km long northeast-southwest trend. Drilling was carried out to test the area of most intense veining covering a 1.2 km strike length and 0.5 km width. Of the eight holes drilled, three holes returned values as follows:
Drill Hole From (m) To (m) Width1(m) Au (g/t)
Chi11-12 No Significant Results
Chi11-2 42.0 43.6 1.6 0.514
52.5 53.0 0.5 0.560
Chi11-3 No Significant Results
Chi11-4 No Significant Results
Chi11-5 No Significant Results
Chi11-6 48.1 50.1 2.0 0.445
72.6 75.1 2.5 0.970
115.6 118.3 2.7 0.311
Chi11-7 67.5 69.6 2.1 0.929
77.4 78.0 0.6 1.260
Chi11-8 No Significant Results
1 All intersections are reported as drilled thickness. True widths are not known at this time.
2 Hole abandoned in fault zone before reaching target.
Quartz-pyrite-tourmaline veinlets and associated alteration were encountered at depth which returned isolated anomalous values of gold, silver, copper, zinc and molybdenum. No further work is planned for the property at this time. 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. 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 was recently completed at the Chinipas gold project in the State of Chihuahua. 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 Peña Grande projects. Soltoro has 56,666,537 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL. Coeur D'Alenes 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.
Contact Information
Soltoro Ltd.
Andrew Thomson, President
(416) 987-0722
www.soltoro.com