Science & Technology
Science and Technology
Science and Technology
Thu, December 10, 2009
Wed, December 9, 2009 Soltoro Resource Drilling Returns 124.5 Metres of 60 gpt Silver Including 34.5 Metres of 125 gpt Silver at the El Rayo Project
TORONTO, ONTARIO--(Marketwire - Dec. 9, 2009) - Soltoro Ltd. (TSX VENTURE:SOL) has resumed resource drilling of the Las Bolas structure at the El Rayo Silver Gold Lead Project in Jalisco State, Mexico. Resource drilling is underway along a 1 kilometre long portion of the Las Bolas structure focused on defining a NI 43-101 compliant silver resource. In 2008, a 650 metre section of the Bolas structure was tested to a 100 metre depth which returned an independent target deposit calculation of 16 to 18 million ounces silver grading between 100 to 117 gpt silver using a cut off grade range between 40 to 60 gpt silver (GeoVector/2009). Current drilling is designed to increase the size of the deposit down dip and along strike in both directions. At the El Rayo property, over 5 kilometres of mineralized strike length has been defined within the V-shaped El Rayo and Las Bolas structures. A 5,300 metre reverse circulation drill program is being completed with further resource drilling underway at the Las Bolas structure and testing of the Highway Zone, an offset structure at the juncture of the V, to be completed at the end of the program.
In the current program, a total of 15 drill holes have been completed along the Las Bolas structure with assays received on 4 drill holes to date. Assays from the first two deep holes confirmed oxide silver mineralization occurs to a 200 metres depth from surface. The Company has received assays on an additional 2 holes confirming oxide silver mineralization continues at depth along the structure. Updated surface mapping has identified the presence of mineralized subparallel veining at surface where drilling continues to define new mineralized zones further up in the holes. Results from the most recent two holes completed were as follows:
| Section | Drill | From: | To: | Interval: | Silver: |
| Line: | Hole: | (gpt) | |||
| S5 | RC54 | 37.5 | 40.5 | 3 | 88 |
| 57 | 60 | 3 | 47 | ||
| 79.5 | 87 | 7.5 | 51 | ||
| 93 | 96 | 3 | 51 | ||
| 142.5 | 222 | 79.5 | 67 | ||
| including | 196.5 | 222 | 25.5 | 119 | |
| including | 204 | 220.5 | 16.5 | 161 | |
| S2 | RC55 | 63 | 187.5 | 124.5 | 60 |
| including | 138 | 187.5 | 49.5 | 101 | |
| including | 150 | 184.5 | 34.5 | 125 |
Andrew Thomson, President and Chief Executive Officer, stated: "Current drilling has intersected subparallel silver veins above the main target structure thereby providing greater mineralized widths. The deposit being defined at Las Bolas is a primary silver deposit with the potential to host significant tonnage along strike and at depth."
At Las Bolas, the Company has completed resource drilling of 3 new section lines of 8 holes to the southwest and has moved the drill to the north-east where a further 2 section lines of 6 holes are planned. Consideration is being given to adding further sections lines along the Las Bolas structure in order to attempt to define a greater NI 43-101 silver resource. Soltoro plans on completing four drill holes at the Highway Zone before any new sections are added along the Las Bolas structure.
GeoVector of Nepean, Ontario conducted the independent assessment of the deposit and provided the target deposit calculation for the Las Bolas area. The reader should be cautioned that the potential quantities and grades reflected in the target deposit potential calculation are conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.(see May 15, 2009 / NR51).
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. Terry Bottrill, P.Eng., a consultant and member of the advisory board of the Company and qualified person as defined by NI 43-101 has reviewed the contents of this press release. Field supervision of the El Rayo project is provided by Mr. Chris Lloyd, M.Sc., Vice President, Exploration.
Soltoro is a junior exploration company exploring for bulk tonnage gold, silver and copper deposits in Mexico. The Company is conducting a resource definition drill program on its El Rayo silver-gold-lead project; has a significant joint-venture partner working on its Quila project where drilling is planned in 2009; and is advancing its Chinipas and El Santuario gold projects. Soltoro has 28,083,650 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.
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
