Soltoro Drilling Intercepts 64 Metres of 106 gpt Silver Equivalent Including 6.15 Metres of 543 gpt Silver Equivalent in Deep Sulphide Zone at El Rayo
TORONTO, ONTARIO -- (Marketwire) -- 03/03/13 -- Soltoro Ltd. (TSX VENTURE: SOL) has completed six additional diamond drill holes at the El Rayo primary silver project in Jalisco, Mexico to test for sulphide mineralization at depth below the known Las Bolas deposit. Results have been received from four holes to date. On January 18, 2013, Soltoro announced results from drill hole Ray 12-152 which intersected 91.3 metres of 129 g/t silver equivalent including 11.2 metres of massive sulphide mineralization grading 537 g/t silver equivalent encountered at the base of the hole. The four holes drilled along strike from hole RAY12-152 at 50 metre spacings all encountered sulphide mineralization extending the deep sulphide zone 200 metres along strike (Ray13-158 is pending). Ray13-155 is a step-out hole drilled below Ray12-152. Results are as follows:
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STYLE ESTIMATED
OF TRUE AgEq
DEPOSIT MINERALIZ- DRILL WIDTH(1) Ag Au Pb (2)
AREA: ATION: HOLE: FROM: TO: (m) (g/t) (g/t) (%) (g/t)
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Las Bolas less
Quartz RAY13- than
stockwork 153(3) 75.30 76.50 1.05 213 0.01 0.01 213
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less
than
85.50 97.50 10.40 42 0.01 0.07 44
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less
than
103.50 148.50 38.95 37 0.01 0.03 38
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less
than
195.00 212.50 15.15 38 0.01 0.02 38
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Stockwork
&
sulphides 268.50 294.00 22.10 93 0.02 0.95 117
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including 275.80 289.50 11.85 149 0.03 1.69 191
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including 279.00 284.15 4.45 295 0.08 4.20 399
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Sulphides including 279.60 280.60 0.85 1,085 0.23 8.12 1,290
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less
Quartz than
stockwork 300.00 321.00 18.20 24 0.01 0.06 25
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Las Bolas less
Quartz RAY13- than
stockwork 154(4) 183.00 184.50 1.30 95 0.01 0.02 95
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Stockwork
&
sulphides 249.00 307.20 50.40 56 0.01 0.28 63
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including 265.60 294.00 24.60 76 0.02 0.46 88
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including 277.50 287.30 8.50 100 0.04 0.68 118
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Sulphides including 285.60 287.30 1.45 231 0.13 2.12 288
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Las Bolas less
Quartz RAY13- than
stockwork 155(5) 312.00 388.80 57.05 52 0.01 0.14 55
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including 326.90 358.00 23.10 72 0.01 0.22 78
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including 346.55 350.10 2.65 95 0.02 0.34 104
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Las Bolas Stockwork
& RAY13-
sulphides 156(6) 285.50 360.00 64.50 79 0.02 1.08 106
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including 298.30 329.60 27.10 149 0.04 2.21 203
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Sulphides including 322.50 329.60 6.15 330 0.16 8.63 543
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including 325.70 328.40 2.35 669 0.2816.28 1,069
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(1) Estimated true width is based on an assumed dip for mineralization of 60
degrees.
(2) AgEq - Silver equivalent includes Au, Ag and Pb and excludes Cu & Zn.
Assuming 100% metallurgical recovery, pricing is as follows:
Au - US$1,600/oz.; Ag - US$29.00/oz.; Pb - US$1.00/lb.
(3) Overall recovery for the intervals 268.50 m to 294.00 m was 93% and the
recovery for the interval 300.00 m to 321.00 m was 62%. Recovery
for the interval 287.70 m to 291.00 m was 51%.
(4) Overall recoveries for the intervals 249.00 m to 307.20 m was 68% and
29% for the interval 267.0 m to 285.0 m including recovery of 5% for
the interval 295.50 m to 303.00 m. No core was recovered from the intervals
268.55 m to 270.00 m and 297.00 m to 298.50 m. These
intervals were included in the weighted average at 0 g/t Ag.
(5) Overall recovery for the interval 312.55 m to 388.80 m was 78%. Recovery
for the interval 337.40 m to 352.70 m was 39%, for the interval
354.65 m to 362.20 m was 49% and the interval 366.00 m to 370.50 m was 52%.
Recovery for the interval 346.55 m to 347.55 m was 5%.
(6) Overall recovery for the interval 285.50 m to 360.00 m was 58%. Recovery
for the interval 309.00 m to 318.00 m was 30% and the interval
321.00 m to 329.60 m was 32%. Recovery for the interval 327.00 m to 328.40
m was 50%.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Soltoro has extended sulphide mineralization over 200 metres along strike below the Las Bolas deposit. Mineralization remains open along strike in both directions and at depth. This represents an exciting new target type for Soltoro and presents an opportunity to continue to build the silver resource with high-grade mineralization."
A drill location map and sections may be viewed at: http://www.soltoro.com/projects/pdf/NR146maps.pdf.
RAY12-152 and the four holes drilled along strike and the step-out hole completed in this area were located on the basis of a new structural and geochemical interpretation, which lead to the identification of a series of fault blocks that allowed a tentative quantification of relative fault movement. RAY12-152 was the first drill hole intended to intersect deep mineralization that had been brought closer to the surface through faulting. Sulphide mineralization has now been intersected in all four holes drilled along strike demonstrating continuity for 200 metres. Results for drill hole RAY13-158 drilled 50 metres north of Ray12-152 are still pending however sulphide mineralization has been confirmed visually. Infill drilling will be required on some sections to bring the Las Bolas sulphide mineralization into the resource.
Hole RAY13-155 was drilled below hole RAY12-152 and did not intersect a sulphide zone but sulphide fragments are present in a fault zone suggesting that sulphides were originally present but have been removed in this area due to faulting. Sulphides remain open along strike in both directions and at depth.
Hole RAY13-157 was drilled at the south end of the Las Bolas structure in the Matachines area to test the down-dip extension of sulphide mineralization intersected in hole Ray11-65. Sulphides in this area are different in character from those in to the north and the relationship between the two zones is not well understood. Results are pending.
Assaying is done 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, lead overlimits were analyzed using volumetric titration. Mr. Steven T. Priesmeyer, C.P.G., Vice President 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. Soltoro holds an interest in an excess of 55,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project while seeking partners to advance the balance of its projects. Soltoro holds 15% of the common shares of Argentum Silver Corp. and a 3% N.S.R. payable to Soltoro on the Victoria and Coyote properties. Soltoro's La Tortuga project has been optioned to Gold Reserve Inc. Soltoro has 59,783,037 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