TORONTO, ONTARIO–(Marketwired – Sept. 9, 2014) – Soltoro Ltd. (TSX VENTURE:SOL) has initiated a panel sampling program on its 100%-owned Tecolote gold project located in Jalisco, Mexico. The program is intended to test several zones of hydrothermal alteration for bulk tonnage gold targets. The Tecolote Project lies within the Guachinango District, which includes Soltoro's El Rayo Primary Silver Project and Cayden Resources' El Barqueño Gold Project (Cayden is the subject of a recently announced acquisition by Agnico Eagle Mines Limited). In this part of Jalisco, mineralization occurs within a broad northwest-trending belt of gold-silver mining districts that also includes Endeavour Silver's San Sebastian Project and Soltoro's Quila Project.
Soltoro's early exploration on Tecolote focused on the northeastern portion of the Property where numerous narrow, gold-bearing structures were identified by Grupo Mexico's subsidiary IMMSA in the early 2000's. The most significant gold and silver grades sampled by Soltoro were collected along the east-west-trending Carmelita vein, which yielded 3 metres averaging 14.16 g/t gold and 308 g/t silver (Soltoro NR152, June 17, 2013). While the gold bearing veins remain a significant target, subsequent systematic exploration by Soltoro has identified several potential bulk tonnage gold zones that require mapping and sampling.
Early chip sampling suggested that gold was present in alteration zones but that a panel sampling program (large volume samples) was warranted. In July Soltoro initiated a panel sampling program intended to systematically evaluate these alteration zones, which are associated with felsic volcanic centers, in order to define bulk tonnage gold targets for drilling. Samples are being collected from panels, rather than narrow channels, to ensure representativity. Select results from chip and preliminary panel sampling are presented below:
|TARGET AREA||SAMPLE NUMBER||SAMPLE TYPE1||Au (ppb)||Ag (g/t)|
|1||Chip samples are collected from an area of 1.0 m2 and weigh approximately 5 kg. Panel samples are also collected from an area of 1.0 m2 but weigh approximately 15 kg.|
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Soltoro has initiated a sampling program on its Tecolote Property to test the extent of gold mineralization in newly identified hydrothermal alteration zones. Soltoro believes these zones have the potential to host bulk tonnage gold deposits similar to those of Argonaut Gold's El Castillo mine and San Agustin property."
Maps showing regional structures, intrusive centers and alteration zones may be viewed at:
Earlier in 2014, Soltoro completed ground magnetics covering 95% of the Tecolote property. Results confirm the importance of the dominant northeast structural trend, which extends from Cayden's El Barqueño property, but also delineated a number of parallel northwest-trending structures. Within the Guachinango district mineralization occurs more prominently at the intersections of northeast and northwest structural trends. On Tecolote, these structural intersections also control the location of felsic intrusive centers and associated alteration zones. Alteration occurs in relation to felsic domes in the Tecolote and Los Sauces areas and, at Los Laureles, a magnetic anomaly thought to represent a buried felsic intrusive. Alteration consists of argillic alteration with millimeter-scale quartz veining, and/or silicification; both locally containing alunite. Finely disseminated pyrite is present locally.
In addition, several areas contain anomalous trace elements such as silver, arsenic, barium and zinc which serve as important indicators for gold mineralization in deposits related to felsic domes. Results from several promising areas are pending while one area awaits first-pass sampling. Follow-up sampling will be conducted in areas of interest.
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. Analytical work is performed by ALS-Chemex. Samples are submitted to the ALS sample preparation facility in Guadalajara and pulps are shipped by ALS to their laboratory in Vancouver, B.C. for analysis. 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).
Soltoro is engaged in exploration for gold and silver deposits in Mexico. Soltoro holds in excess of 30,000 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 shares 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.