June 11, 2011 – Soltoro Ltd. (SOL:TSX.V) Ltd. (SOL:TSX.V) and Argentum Silver Corp. (ASL:TSX:V) are pleased to announce assay results from eight additional diamond drill holes recently completed on the El Tajo and Bocancha veins at the Coyote silver gold property, located in Jalisco State, Mexico.
Highlights include 5.2 metres of 438 g/t silver from hole 2012-23 including 2.0 metres of 899 g/t silver. Hole 2012-22 also intersected a second, shallower vein grading 1.0 metre of 424 g/t silver. Highlights of the El Tajo and Bocancha drill holes are as follows:
HOLE ID* | VEIN | FROM | TO | DRILL WIDTH | SILVER | GOLD | LEAD | ZINC |
(m) | (m) | (m)** | (g/t) | (g/t) | (%) | (%) | ||
2012-10 | EL TAJO | 106.0 | 107.0 | 1.0 | 142 | 0.33 | 0.21 | 0.61 |
2012-22 | EL TAJO | 22.8 | 23.8 | 1.0 | 424 | 0.21 | 0.38 | 0.08 |
2012-22 | EL TAJO | 87.0 | 89.8 | 2.8 | 266 | 0.60 | 0.33 | 1.29 |
2012-23 | EL TAJO | 72.0 | 72.6 | 0.6 | 303 | 0.66 | 0.12 | 0.11 |
2012-23 | EL TAJO | 84.5 | 89.7 | 5.2 | 438 | 0.18 | 0.35 | 0.33 |
including | EL TAJO | 86.8 | 88.8 | 2.0 | 899 | 0.17 | 0.44 | 0.48 |
2012-20 | BOCANCHA | 51.9 | 53.0 | 1.1 | 269 | 0.06 | 0.35 | 0.40 |
2012-20 | BOCANCHA | 67.5 | 70.5 | 3.0 | 51 | 0.05 | 0.19 | 0.24 |
*Drill holes 2012-15, 2012-16, 2012-21, 2012-24 did not intercept significant assay values
**True widths are estimated to be roughly 70% of drill intercept length.
Drill holes 2012-10, 2012-22 and 2012-23 indicate the El Tajo vein hosts the potential for further bonanza-style silver grades at depth. Highlights of previously released drill holes 2012-1 through 2012-7 at El Tajo include intercepts of 2.0 metres of 2,745 g/t silver in hole 2012-3 and 1.20 metres of 1,645 g/t silver in hole 2012-7. To date, a total of 11 holes have been drilled at the El Tajo vein, which has been tested over a 500 metres strike length. Complete highlights from the previous seven drill holes are available in NR122 dated February 29, 2012 and NR125 dated March 6, 2012.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: At Coyote, drilling has intercepted significant widths of high-grade silver mineralization below the known historic mine workings. Further drilling is planned by Argentum Silver to test the structure at depth and along strike to investigate increasing the tonnage potential.
The 1,053 hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockwork. Most of the mineralization occurs within six defined zones within an area of approximately 1.5 by 2.6 kilometres. Vein widths typically range from 1 to over 5 metres. Local areas of stockwork can exceed 35 metres in width. Over 100 historic workings and prospects explored and partially developed the district through the early 1900´s. Historic production concentrated on bonanza silver grades with operational depth limitations due to the high water table.
Equity held in ASL & royalty held on the Coyote property:
Soltoro Ltd. holds a total of 6,760,000 common shares of Argentum Silver Corp. Under the terms of the option agreement signed on April 25, 2011, Argentum must evidence certain exploration expenditures in order to complete a 100% transfer of title interest of the Victoria and Coyote properties. On transfer of the properties, Soltoro will retain a 3% Net Smelter Return interest in each project whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2% for each project.
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 technical contents of this press release. Assaying from this program was completed by ALS Chemex 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 bulk tonnage gold and silver deposits in Mexico. Soltoro holds in excess of 55,000 hectares of ground in Jalisco State. The Company has a diamond drill rig and a reverse circulation drill rig operating at the El Rayo silver project with the objective of expanding the existing NI 43-101 silver resource. Soltoro has optioned three of its properties in Jalisco State. The Company is seeking partners to advance its Chinipas, La Tortuga, El Santuario and Peña Grande projects. Soltoro has 59,118,037 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL. Coeur dAlene Mines Corp. holds 4.5 million shares of Soltoro Ltd.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Thomson, President
Phone: (416) 987-0722 or visit www.soltoro.com
