Press release from Marketwire
Soltoro Discovers New Mineralized Silver Area on the El Rayo Project
Wednesday, May 08, 2013
Soltoro Discovers New Mineralized Silver Area on the El Rayo Project09:00 EDT Wednesday, May 08, 2013
TORONTO, ONTARIO--(Marketwired - May 8, 2013) - Soltoro Ltd. (TSX VENTURE:SOL) has discovered a previously unknown mineralized silver zone, known as the Mascotas zone, on the northern portion of the El Rayo silver project located in Jalisco, Mexico. The Mascotas zone was discovered during routine geologic mapping as part of Soltoro's systematic exploration of the El Rayo land package. The Mascotas mineral system consists of at least five separate mineralized structures occurring within an area extending 600 metres northeast by 800 metres northwest. The Mascotas mineral system is located approximately five kilometres north-northeast of the main silver deposit area. There are no known historic mines in the area and few prospect pits.
A total of 59 samples were collected during the first phase of sampling, nine contained silver grades greater than 100 g/t Ag and 12 contained silver grades between 50 g/t Ag and 100 g/t Ag. The highest silver grade obtained during this phase of work was 264 g/t Ag. Results are as follows:
|Mascotas 4||Chip-Channel||1.00||< 0.01||24||0.02||0.13|
|Mascotas 4||Chip-Channel||1.05||< 0.01||37||0.02||0.01|
|Alteration Zone||Chip-Channel||1.40||< 0.01||34||0.38||0.03|
|1Samples are reported as sampled widths.|
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "The newly identified Mascotas silver zone occurs over an area measuring 600 by 800 metres. The most significant structure extends for 600 metres along strike and is similar in strike and dip to the Las Bolas and Highway deposits. Mapping and sampling are underway to identify suitable drill targets."
Maps of the Mascotas zone with values may be viewed at: http://www.soltoro.com/projects/pdf/NR149maps.pdf.
The Mascotas mineral system consists of at least five separate mineralized structures occurring within an area extending over 600 metres northeast by 800 metres northwest. All of the structures strike to the northeast and dip to the northwest between 55 and 70 degrees. Mineralized structures consist of an anastomosing network of quartz veinlets and breccia varying in width from 2 metres up to approximately 10 metres. Mineralization is characterized by gray to yellowish-green quartz with sporadic minor galena, lead oxides and malachite with in a weakly hematized intermediate lithic tuff host rock.
Mineralization in the Mascotas zone shares many similarities with mineralization in the Las Bolas primary silver deposit including: 1) Similar strike and dip; 2) Mineralization consisting primarily of an anastomosing network of quartz veinlets and breccia hosted by mafic to intermediate volcanic rocks; 3) Presence of yellowish-green quartz thought to be caused by the occurrence of mimetite (lead arsenate) and/or vanadinite (lead vanadate) in the quartz; 4) Hematite alteration interpreted to be hypogene in origin, and 5) Both areas are anomalous in silver, lead, arsenic, vanadium and barium.
One potentially important difference is that anomalous gold is present in several samples from the Mascotas mineral system while gold is virtually absent from the Las Bolas mineralization. Additional mapping, sampling, and ground geophysics are planned to identify drill targets while permitting is underway.
Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. Soltoro holds an interest in an excess of 55,000 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 59,783,037 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.
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