- Published: 18 September 2008
- Written by Editor
Soltoro Resource Drilling Program Intercepts 90 Metres of 150 gpt Silver at El Rayo Silver-Gold-Lead Property in Jalisco State, Mexico
Soltoro Ltd. (TSX VENTURE:SOL) has completed an initial 41 hole 4,015 metre resource definition drill program along the north-eastern trending Las Bolas structure on its El Rayo property. Reverse circulation drilling was carried out along the north-eastern extension of the Las Bolas structure over a 500 metre strike length in order to define a potential silver resource. This portion of the structure represents about 10% of the contiguous mineralized El Rayo and Las Bolas structures.
Andrew Thomson, the President of Soltoro reports: "We are quite encouraged as the mineralized widths are expanding and open to depth. We chose to drill on the north-eastern extension of the Las Bolas structure to investigate whether the mineralization would continue beyond the property's historic resource area. Results from this drill program clearly demonstrate the potential for El Rayo to host a significant bulk tonnage silver deposit."
During the program ten sections at 50 metre spacings were completed. Along each section four holes were drilled to intersect the vein structure at 25 metre intervals down the predicted dip. Along the fifth section, Hole 30, which intercepted 90 metres of 150 gpt silver (uncut/true width) is the deepest of four holes and demonstrates the width of the mineralized structure persists and increases with depth. Results of 5 of 10 sections (50% of the sections drilled) are summarized as follows:
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Section Drill From: To: Width: Silver Lead
Hole (Metres) gpt %
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S2 RC19 21.0 27.0 6.0 67 0.03
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S2 RC20 45.0 57.0 12.0 104 0.08
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including 48.0 54.0 6.0 149 0.08
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S2 RC21 49.5 79.5 30.0 96 0.25
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including 67.5 73.5 6.0 181 0.08
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S2 RC28 81.0 127.5 46.5 143 0.27
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including 99.0 118.0 19.5 261 0.56
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including 99.0 114.0 15.0 311 0.71
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S3 RC18 18.0 31.5 13.5 153 0.92
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including 21.0 27.0 6.0 263 1.85
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S3 RC17 27.0 57.0 30.0 122 0.13
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including 36.0 52.5 16.5 165 0.18
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S3 RC26 60.0 82.5 22.5 139 0.13
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including 64.5 81.0 16.5 175 0.16
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S3 RC27 96.0 126.0 30.0 148 0.22
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including 99.0 117.0 18.0 218 0.34
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S4 RC03 21.0 33.0 12.0 103 0.27
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S4 RC02 33.0 55.5 22.5 176 0.14
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S4 RC01 64.5 84.0 19.5 184 0.60
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S4 RC29 90.0 134.5 49.5 84 0.11
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including 115.5 136.5 21.0 118 0.07
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S5 RC11 28.5 36.0 7.5 58 0.04
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S5 RC13 43.5 76.5 33.0 77 0.92
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including 60.0 70.5 10.5 136 0.15
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S5 RC14 69.0 102.0 33.0 105 0.13
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including 76.5 96.0 19.5 140 0.16
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including 81.0 93.0 12.0 179 0.22
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S5 RC30(i) 60.0 150.0 90.0 150 0.20
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cut value 60.0 150.0 90.0 99 0.20
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Including 111.0 144.0 33.0 138 0.13
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S6 RC09 39.0 46.5 7.5 120 1.27
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S6 RC10 58.5 67.5 9.0 103 2.04
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S6 RC12 60.0 100.5 40.5 61 0.23
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Including 79.5 85.5 6.0 91 0.10
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S6 RC16 123.0 153.0 30.0 69 0.23
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Including 124.5 138.0 13.5 72 0.07
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All intersections are reported as drill lengths. True widths are not
known at this time but are believed to be close to drilled width
(i) 4,004 gpt silver was returned over 1.5m, the cut value represents
a cut off value of 1,000 gpt silver
A location map along with drill sections compiled to date can be viewed at www. soltoro.com/pdf/2008RCDRILLRAYO.pdf or by following a link on the company's website at www. soltoro.com/rayo.htm. Soltoro is currently reviewing the balance of the drill hole information and assay data from the RC drilling campaign and have initiated several additional quality assurance and control checks. Results for these holes will be released when the evaluation is completed.
An historic, non NI 43-101 compliant, 7 million ounce silver resource has been reported within the El Rayo and Las Bolas structures. The Consejo Recursos Minerales, a Mexican government geological agency, defined 1,346,072 tonnes at 169 gpt silver in a report dating from 1992. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. Soltoro is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. To date, Soltoro has defined 5 kilometres of mineralized structures open on strike to the north-east along the Las Bolas structure and north-west along the El Rayo structure. The current RC drill program was conducted along the north-eastern extension of the Las Bolas structure which saw little to no historic drilling. The Las Bolas mine area included in this program represents a small portion of the historic drill resource area.
Assaying of RC samples from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Silver and other base and trace elements were analyzed using four acid "near total" digestion with an ME-ICP finish. Gold was analyzed using a 30g fire assay with AA finish. Internal standards provided by an independent company, locally derived blank samples and sample duplicates are being inserted for quality control purposes. Mr. William McGuinty, P.Geo., a director 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, Vice President, Exploration.
Soltoro is a junior exploration company active in Mexico. The Company is exploring for bulk tonnage gold, silver and copper deposits in Mexico and has two significant joint-ventures partners on two of its projects. Soltoro has 20,215,000 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact here-in, including, without limitation, statements regarding exploration results and plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.
On behalf of the board
Andrew Thomson, President
SOURCE: Soltoro Ltd.
Soltoro Ltd. Andrew Thomson President (416) 987-0722 Website: www.soltoro.com
