Soltoro Initiates Ground Magnetics & Trenching to Define Gold Structures at El Rayo And Tecolote
2014年4月2日 - 10:00PM
Marketwired
Soltoro Initiates Ground Magnetics & Trenching to Define Gold
Structures at El Rayo And Tecolote
TORONTO, ONTARIO--(Marketwired - Apr 2, 2014) - Soltoro Ltd.
(TSX-VENTURE:SOL) has initiated a ground magnetic geophysical
program and is continuing with its trenching program at its
100%-owned El Rayo and Tecolote projects in the Guachinango
District of Jalisco, Mexico. Mining in the Guachinango District was
initiated by the Spaniards in 1546 but more recent exploration has
identified a broad northwest-trending belt of gold-silver mining
districts that includes Soltoro's El Rayo and Tecolote Projects,
Cayden Resources El Barqueño Project, Endeavour Silver's San
Sebastian Project and Santana Minerals` Espiritu Santo Project.
Gold mineralization in the Guachinango District is controlled by
northeast and east-west-trending structures near intersections with
the regional northwest trend. Soltoro's Tecolote Project lies along
one of these northeast-trending structures.
A regional structural map of the Guachinango District, a
trenching/magnetics map of the El Rayo gold trend and a magnetics
map of the Tecolote gold trend may be viewed at:
http://www.soltoro.com/projects/pdf/NR162maps.pdf
Gold potential at Soltoro's El Rayo Property
At El Rayo an initial gold resource of 22,600 Indicated ounces
of gold contained in 380,000 tonnes averaging 1.85 g/t gold and
18,900 Inferred ounces gold contained in 365,000 tonnes averaging
1.61 g/t gold has been defined in proximity to the historic El Rayo
gold mine. The historic El Rayo gold mine lies along the same
northwest-trending structure that also controls silver-lead
mineralization at the historic Catarina Mine.
Soltoro's newly discovered Talayote gold zone (Soltoro NR154,
July 24, 2013) is sub-parallel to the El Rayo structure but lies
within the dominant regional northwest trend that includes
mineralization on the contiguous El Barqueño land package and
beyond. Soltoro recently completed an exploration program intended
to locate the northwestern extension of the El Rayo gold resource
between El Rayo and Talayote. During that time two diamond drill
holes and sixteen trenches tested soil and geophysical anomalies
but did not locate the extension of the El Rayo mineralization. Of
the sixteen trenches, only trench ERY-13 returned significant gold
values consisting of 16.97 m averaging 3.45 g/t gold including 1.50
m averaging 20.6 g/t gold. Trench ERY-13 was previously sampled in
2009 as trench R2 and this trenching confirms the values obtained
at that time. Trench R2 returned 19.5 m averaging 2.53 g/t gold
including 7.5 m averaging 5.36 g/t gold and 1.5 m averaging 10.3
g/t gold.
A limited ground magnetics program has been carried out to
locate the northwestern extension to the gold mineralization at the
El Rayo deposit as it extends toward the El Barqueño property.
Lines were run perpendicular to the existing north-south
geophysical grid in order to identify fault offsets and further
refine Soltoro's understanding of controls on mineralization. It
now appears that gold mineralization at El Rayo is controlled by a
flexure in the primary northwest-trending structure or by the
intersection of this structure with a northeast-trending fault
zone. A trenching program is underway to the north-northwest of
trench ERY-13 to test the continuity of mineralization identified
in this trench.
Gold potential at Soltoro's Tecolote Property
Soltoro's 100% owned Tecolote Project was part of Grupo Mexico's
El Barqueño land package but was released by Grupo Mexico and
acquired by Soltoro through staking. No significant cash payments
or royalties encumber the property and Soltoro has yet to conduct
any drilling at Tecolote. Tecolote is located less than 10
kilometres north of Soltoro's El Rayo primary silver project and 10
kilometres northeast of the El Barqueño property. The predominant
control on Tecolote is a northeast-southwest corridor. To date,
Soltoro has been exploring the eastern portion of the concession
where Grupo Mexico identified numerous precious metal targets. The
most significant gold and silver grades encountered to date were
collected along the east-west-trending Carmelita vein, which
yielded 3.0 m averaging 14.16 g/t gold and 308 g/t silver (Soltoro
NR152, June 17, 2013). Carmelita has been traced on surface for 100
metres before disappearing under cover, although the structure
hosting the Carmelita vein has been traced for over 500 metres
along strike using ground magnetics.
The southwestern portion of the Tecolote concession closest to
Cayden's El Barqueño project is largely unexplored. Ground
magnetics completed to date by Soltoro cover roughly 45% of the
northeast portion of the Tecolote Property and are being extended
southwest towards El Barqueño where, upon completion, roughly ~75%
of the surface area of the Tecolote property will have been
surveyed. The intention of the geophysical program is to locate
further mineralized structures within the north-east structural
trend extending onto the Tecolote property from El Barqueño for
follow-up exploration leading to the identification of drill
targets. The geophysical program will be completed in the second
quarter of 2014.
QUALIFIED PERSONS
Mr. Steven T. Priesmeyer, C.P.G., is Vice President Exploration
for Soltoro Ltd. He is a qualified person as defined by NI 43-101
and he has reviewed the geological contents of this press release.
Assays reported for exploration results were completed by ALS
Geochemistry through their office in Guadalajara, Mexico.
Analytical procedures include a 33 element ICP-AES analysis
(ME-ICP61m) and a 50 g FA AA finish for gold (AA-24). Silver assays
exceeding 100 g/t are re-assayed by HCL leach with an ICP-AES or
AAS finish (OG62).
ABOUT SOLTORO
Soltoro is engaged in exploration for gold and silver deposits
in Mexico. Soltoro holds in excess of 41,000 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. with a 3% N.S.R. payable on Argentum Silver's
Victoria and Coyote properties. Soltoro's La Tortuga project is
under option to Gold Reserve Inc. Soltoro has 69,533,037 common
share issued and outstanding and trades on the TSX Venture Exchange
under the symbol "SOL".
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. 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.
Soltoro Ltd.Andrew ThomsonPresident(416)
987-0722www.soltoro.com
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