TORONTO, ONTARIO, May 26, 2014 (Marketwired via COMTEX) — Soltoro Ltd. /quotes/zigman/430657/realtime CA:SOL -3.57% has been conducting trenching northwest of the El Rayo gold zone which has extended mineralization by approximately 70 metres along strike at surface. This represents approximately a 10% increase in the strike length of known mineralization in the El Rayo gold zone.
In April of 2014, detailed mapping and ground magnetics were completed north and northwest of trench ERY-13 (16.97 metres of 3.45 g/t gold in NR162 dated April 12, 2014) in order to locate the strike extension of the El Rayo gold zone. On the basis of this work, three trenches were completed with the best result coming from trench ERY-19, which returned 24.00 metres of 2.09 g/t gold where mineralization remains open in both directions. Results from all three trenches are as follows:
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SAMPLE FROM: TO:
TARGET AREA TYPE(1) TRENCH (m) (m) WIDTH(2) (m) Au (g/t)
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El Rayo Gold Zone N Chip- ERY-18 11.60 24.00 12.40 0.29
Channel
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El Rayo Gold Zone N Chip- ERY-19 0.00 24.00 24.00 2.09
Channel
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including ERY-19 7.10 21.20 14.10 2.74
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including ERY-19 16.10 21.20 5.10 3.98
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El Rayo Gold Zone N Chip- ERY-20 0.00 15.60 15.60 0.79
Channel
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including ERY-20 4.20 6.30 2.10 1.38
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including ERY-20 8.10 10.90 2.80 1.19
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(1) Channel samples are continuous samples cut with a portable rock saw
while chip-channel samples are continuous samples taken with a rock
hammer and chisel.
(2) Widths are reported as sampled widths.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: “Trenching has extended the gold zone 70 metres to the north where a series of faults intersects the mineralized structure. Further trenching will be carried out to locate mineralization northwest of the offsetting fault zone and to extend the length of trench ERY-19 where mineralization remains open in both directions.”
The lack of outcrop and series of cross-cutting faults in the recently trenched north end of the El Rayo gold zone would suggest that gold mineralization in this portion of the El Rayo structure is controlled by a flexure in the primary northwest-trending structure or by the intersection of this structure with a more northerly-trending fault zone. Drilling in this area has not confirmed the extension of mineralization at depth but this may be the result of fault gaps created by post-mineral faulting. Additional drilling will be required to determine the extent of the newly identified gold mineralization at depth.
Detailed ground magnetics also suggest that the El Rayo gold zone structure may be offset a few tens of meters to the southwest along a northeast-trending fault located between trenches ERY-18 and ERY-19. Soltoro will continue exploring in this area in an effort to locate the offset portion of the El Rayo gold zone structure.
A claims location map and trenching results map may be viewed at: http://www.soltoro.com/projects/pdf/NR164maps.pdf
INITIAL GOLD RESOURCE AT EL RAYO
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 over approximately 700 metres of strike length 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.
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 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 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.
Contacts:
Soltoro Ltd.
Andrew Thomson
President
(416) 987-0722
www.soltoro.com
SOURCE: Soltoro Ltd.
