Soltoro Drilling Adds 50 Metre Depth to Oxide Silver Zone and Returns 135 Metres of 62 gpt Silver at El Rayo
TORONTO, ONTARIO, Nov 16, 2009 (Marketwire via COMTEX) --
Company: Soltoro Ltd (SOL)
Soltoro Ltd. (TSX VENTURE:SOL) has compiled results for the first two drill holes completed at the El Rayo Silver Gold Lead Project in Jalisco State, Mexico. At El Rayo, over 5 kilometres of mineralized strike length has been defined within the El Rayo and Las Bolas V shaped structures. A 5,300 metre reverse circulation drill program is currently underway to test these structures and the Highway Zone, an offset structure at the juncture of the V, which has never been drill tested.
The first two holes were completed below the Las Bolas deposit where drilling of a 1 kilometre long portion of the Las Bolas structure is 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 60gpt silver (GeoVector/2009). Current drilling is designed to increase the size of the deposit down dip and along strike in both directions. The first hole was successful in increasing the depth of the mineralized oxide silver zone by 50 metres for a total 150 metre depth below surface on section S4 including a 3 metre intercept grading 546 gpt silver. The second hole was successful in locating mineralization 200 metres from surface on section S5. Results were as follows:
------------------------------------------------------------------- ------------------------------------------------------------------- Section Drill From To Interval Ag Line Hole (m) (m) (m) gpt ------------------------------------------------------------------- ------------------------------------------------------------------- S4 RC42 72 207 135 62 S4 including 72 75 3 546 ------------------------------------------------------------------- S4 including 142.5 165.5 23 71 ------------------------------------------------------------------- S4 including 184.5 207 22.5 117 ------------------------------------------------------------------- ------------------------------------------------------------------- S5 RC43 69 84 15 50 ------------------------------------------------------------------- S5 148.5 157.5 9 59 S5 including 153 156 3 93 ------------------------------------------------------------------- S5 219 223.5 4.5 93 ------------------------------------------------------------------- S5 281 297.5 16.5 62 ------------------------------------------------------------------- -------------------------------------------------------------------
Andrew Thomson, President and Chief Executive Officer, stated: "The balance of drilling slated for Las Bolas will be focused on expanding and defining the oxide silver deposit. Effectively these first two holes have demonstrated that the oxide silver zone appears to continue to over 150 metres depth from surface with near identical silver values as the upper 100 metre zone previously defined."
Updated section maps can be found at http://www.soltoro.com/pdf/Bolasdeepholes.pdf. The Company has resumed drilling in the Las Bolas zone testing to depth and along strike to the northeast and southwest.
Soltoro has recently completed drill testing of a 200 metre long section of the El Rayo structure. Drilling was carried out to test a gold flexure along the north-west end of a 1,065 metre long gold zone and to test the main El Rayo structure to depth. Results will be announced once all the assays have been compiled. Once drilling of the Las Bolas zone is completed, four holes are planned in the Highway Zone to test a 400 metre long section of mineralized structure for oxide silver mineralization at depth. The Highway Zone has never been drill tested.
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. 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, 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 27,635,650 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.
SOURCE: SOLTORO LTD.
Soltoro Ltd. Andrew Thomson President (416) 987-0722 www.soltoro.com
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Company: Soltoro Ltd (SOL)
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