Soltoro Reports Piedras Amarillas Trench Results and Contracts Third Drill Rig at El Rayo Primary Silver Project in Jalisco
05.03.2012 | Marketwire
TORONTO, ONTARIO -- (Marketwire) -- 03/05/12 -- Soltoro Ltd. (TSX VENTURE: SOL) has completed 22 trenches in the newly identified Piedras Amarillas zone on the El Rayo primary silver project. A third drill rig is being mobilized to carry out an initial 11 hole program to test the trenched area. Piedras Amarillas consists of three sub-parallel soil anomalies located approximately 1.5 kilometres east of the Las Bolas deposit. The soil anomalies range from 300 metres to 800 metres in length and 50 metres to 150 metres in width. The anomalies occur along a recently identified magnetic structure similar in orientation to the Las Bolas deposit. Piedras Amarillas has never been drill tested nor has any production been recorded from the area.Results for 18 of 22 trenches have been received. Four intervals assayed greater than 100 g/t silver including a 1.5 metre sample of 238 g/t silver. Seven trenches begin and end in mineralization. Trenches PA-1 and PA-2 were continuous across the structure providing a total interval of 19.8 metres averaging 77 g/t silver and similarly trenches PA-3/PA-4 returned a continuous interval of 15.4 metres averaging 53 g/t silver. Select results are presented below:
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Trench From To Length Silver
Number(1) (m) (m) (2) (m) (g/t)
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PA-1 0.0 10.0 10.0 65
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including 9.0 10.0 1.0 117
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PA-2 0.0 9.8 9.8 90
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including 3.0 5.7 2.7 180
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including 3.0 4.5 1.5 238
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PA-3 0.0 8.7 8.7 43
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PA-4 0.0 6.7 6.7 65
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including 1.2 3.4 2.2 116
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PA-5 3.5 8.5 5.0 29
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PA-6 0.0 7.6 7.6 59
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including 5.0 6.3 1.3 109
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PA-7 0.0 4.5 4.5 33
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PA-8 5.6 10.1 4.5 26
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PA-15 1.5 4.5 3.0 31
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(1) Nine trenches did not return significant results
(2) All lengths are reported as sampled thickness.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: 'Mineralization at Piedras Amarillas occurs along one of three recently identified magnetic structures parallel and east of the Las Bolas deposit. A reverse circulation drill rig is being mobilized to complete 11 drill holes in order to assess Piedras Amarillas' potential to add to the silver resources at El Rayo. Meanwhile two diamond drill rigs continue to test the western extension of the La Soledad zone.'
A location map of the Piedras Amarillas trench locations may be viewed at:
http://www.soltoro.com/projects/pdf/TRMar5Piedras.pdf
Prior mapping and sampling has identified northeast-trending zones of quartz stockwork with associated hematite staining in Cretaceous basaltic wallrocks. The stockwork zone is presently known to extend for nearly 500 m along strike (NR 113). The Piedras Amarillas soil anomalies fall along one of three magnetic low features similar in nature, and parallel, to the Las Bolas structure. The reverse circulation drill will also test other targets along these newly identified structures to include the Las Bolas Northeast extension.
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 of 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. Soltoro has optioned several of its properties in Jalisco State. The Company is seeking partners to advance its Chinipas, La Tortuga, El Santuario and Pena Grande projects. Soltoro has 58,948,037 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.
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