Soltoro Drills 7.5 Metres of 224 gpt Silver Including 1.5 Metres of 592 gpt Silver Extending La Soledad West Deposit
TORONTO, ONTARIO -- (Marketwire) -- 09/05/12 -- Soltoro Ltd. (TSX VENTURE: SOL) has encountered additional high-grade silver mineralization at depth at the La Soledad West deposit on its El Rayo Project in Jalisco, Mexico. Three of four step-out diamond drill holes have intersected high-grade silver mineralization with each hole containing intervals of nearly 500 g/t silver. Further drilling at depth and along strike to the east and west is planned to define the limits of the La Soledad West deposit.
LA SOLEDAD WEST: Four diamond drill holes were completed down-dip from the previously identified high-grade silver mineralization encountered in holes Ray11-59, Ray11-87 and Ray12-125. All of these holes are outside of the existing NI 43-101 compliant La Soledad silver resource. Results are as follows:
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WIDTH(2) Ag (g/t) Pb
TARGET AREA DIAMOND DRILL HOLE FROM TO (m) uncut (%)
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La Soledad West Ray12-142(3) 160.35 169.5 9.15 192 0.82
including 160.35 163.5 3.15 492 1.59
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La Soledad West Ray12-143 145.5 147.0 1.5 49 0.19
235.2 237.8 2.6 20 2.95
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La Soledad West Ray12-148(4) 171.0 183.0 12.0 161 0.18
including 174.0 181.5 7.5 224 0.15
including 178.5 180.0 1.5 592 0.22
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La Soledad West Ray12-149 166.3 184.5 18.2 112 0.30
including 168.0 176.4 8.4 186 0.41
Including 169.5 171.7 2.2 493 0.83
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(1) Ray12-147 contained no significant values.
(2) All widths are reported as drilled width.
(3) Overall recovery for the interval is 88%; recovery for the interval
160.50 m to 162.00 m is 37%.
(4) The interval occurs within a broad zone of Pb & Zn mineralization
averaging 0.2% Pb & 0.5% Zn from 171.0 m to 202.6 m.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Drilling north of the La Soledad West deposit has expanded the known high-grade silver resource area where silver grades and widths are increasing with depth. Three of the four holes drilled at Soledad West encountered near half kilogram silver values where mineralization remains open at depth and along strike to the east and west. Drill testing will continue in this area to expand the existing silver resources."
Drill hole location maps and sections for the Soledad West and Matachines East zones may be viewed at: http://www.soltoro.com/projects/pdf/NR135.pdf.
MATACHINES EAST: Four diamond drill holes and six reverse-circulation holes were completed to expand the newly discovered high-grade silver zone at Matachines East. RC12-149 intersected a new, previously unknown, high-grade silver structure. Drilling to date has intersected broad intervals of low-grade silver mineralization but did not intersect higher grade silver similar to those encountered in hole RC12-149. Ray12-146 intersected the Las Bolas structure and was designed to test a silver soil anomaly 200 metres east of the Matachines mine area. Results are as follows:
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WIDTH(2) Ag (g/t) Pb
TARGET AREA DRILL HOLE(1) FROM TO (m): uncut (%)
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Matachines East Ray12-144(3) 1.2 21.0 19.8 69 0.22
including 2.6 10.5 7.9 137 0.41
including 2.6 6.0 3.4 240 0.70
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Matachines East Ray12-145 66.0 69.0 3.0 52 0
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Matachines East RC12-150(3) 3.0 37.5 34.5 40 0.13
including 10.5 13.5 3.0 104 0.40
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Matachines East RC12-151 22.5 27.0 4.5 23 0
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Matachines East RC12-152(3) 0 3.0 3.0 89 0.76
40.5 76.5 36.0 35 0
including 70.5 76.5 6.0 49 0
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Matachines Ray12-146 171.0 173.45 2.45 88 3.65
including 172.5 173.45 0.95 130 4.00
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(1) RC=Reverse Circulation RAY = Diamond drillRC12-153, RC12-154, RC12-155
and RC12-156 contained no significant values.
(2) All widths are reported as drilled width.
(3) The upper portion of Ray12-144, RC12-150 and RC12-152 intersected
footwall mineralization related to the Las Bolas deposit.
In addition to diamond drilling, soil sampling has been extended to cover areas of known or projected gold-silver-base metal mineralization. Anomalous areas of particular interest include the northwest extension of the structure that hosts the El Rayo gold resource and the Sacramento, El Ocote and Nueva Suerte vein structures located south of the Las Bolas-La Soledad resource area. Mapping and sampling are currently underway in these areas with a view to developing drill targets.
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. Soltoro holds in excess of 55,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project. Soltoro holds 14.7% of the common shares of Argentum Silver Corp. and a 3% N.S.R. payable to Soltoro on the Victoria and Coyote properties. Soltoro has optioned the La Tortuga project to Gold Reserve Inc. The Company is seeking partners to advance the balance of its projects. Soltoro has 59,118,037 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL. Coeur d'Alene 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.
Contacts:
Soltoro Ltd.
Andrew Thomson
President
(416) 987-0722
www.soltoro.com