TORONTO, ONTARIO–(Marketwire – Sept. 14, 2012) – Soltoro Ltd. (TSX VENTURE:SOL) has received positive gold and silver assay results from the first mapping and sampling program carried out on its 100% owned Tecolote Project in Jalisco, Mexico. The 3,052 hectare Tecolote Project is located less than 10 kilometres north of Soltoro’s El Rayo primary silver project and 10 kilometres northeast of Grupo Mexico S.A.B. de C.V.’s El Barqueño property. Tecolote covers an area once held in the national mineral reserve which Soltoro acquired through staking when it was subsequently declared open ground.
Highlights of sampling from the Asunción vein system include 5.3 g/t gold and 40 g/t silver over 3.4 metres from a channel sample; 13.40 g/t gold and 62 g/t silver over 1.0 metre from a chip sample, and; 8.0 g/t gold and 87 g/t silver from a chip sample. A channel sample from the San Eusebio vein system contained 6.3 g/t gold and 15 g/t silver over 1.0 metre while 6.6 g/t gold and 64 g/t silver was returned from a sample of dump material. Selected results are as follows:
|1||All widths are reported as sampled widths.|
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: “We continue to expand our understanding of the mining camps in the Guachinango districts. The historic Tecolote mines are northeast of the El Barqueño mines and north of the historic mines on our El Rayo silver project. Tecolote hosts the potential for both high-grade gold-silver veins in addition to low-grade, bulk tonnage stockwork systems. A ground magnetic survey is underway along with further mapping and sampling to outline the extent of the precious metal systems with a view to developing drill targets.”
Property and sample location maps for Tecolote may be viewed at:
Tecolote was formerly part of the national mineral reserve, which included the El Barqueño mines before being sold to Grupo Mexico in the late 1990’s. Grupo Mexico completed geological mapping and sampling, which identified more than thirty vein systems at Tecolote. A limited drill program was completed in select areas near historic mines before the property was abandoned. Cayden Resources Inc. has recently optioned the El Barqueño mines from Grupo Mexico.
When the Tecolote area became available for staking, Soltoro and Golden Minerals Company both submitted applications for the Tecolote claim area and Soltoro won the lottery process to obtain title to the Tecolote claim area. Golden Minerals retains a contiguous claim to the west, which was not part of the Soltoro application.
Soltoro recently commissioned a detailed topographic survey over the entire Tecolote property. A limited mapping and sampling program was completed over seven of the thirty vein systems identified to date. A ground magnetics survey is underway which, along with additional mapping and sampling, will provide a better understanding of the extensive precious metal vein systems.
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 Tecolote project is provided by Mr. Patrick Toth, P. Geo., Vice President of Operations, Soltoro Mexico.
Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. Soltoro holds in excess of 55,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project. Soltoro holds 14.7% of the common shares of Argentum Silver Corp. and a 3% N.S.R. payable to Soltoro on the Victoria and Coyote properties. Soltoro has optioned the La Tortuga project to Gold Reserve Inc. The Company is seeking partners to advance the balance of its projects. Soltoro has 59,118,037 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.
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
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.