Soltoro Intercepts an Average Grade of 119 gpt Silver Over 13 Metres in 40 Drill Holes at El Rayo Silver-Gold-Lead Project in Mexico
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TORONTO, ONTARIO -- (MARKET WIRE) -- 11/25/08 -- Soltoro Ltd (TSX VENTURE: SOL) has received all of the assay results from an initial 41 hole 4,015 metre resource definition drill program along the north-eastern trending Las Bolas structure on its El Rayo property. The average grade returned in the 40 holes that make up the resource drilling definition area was 119 gpt silver over an average intercept of 13 metres. In August of 2008, a reverse circulation drilling program was carried out along the northeastern extension of the Las Bolas structure over a 500 metre strike length with a view to establishing a silver resource. This portion of the structure represents about 10% of the contiguous mineralized El Rayo and Las Bolas structures.
Two drill holes completed were twinned with prior diamond drill holes in order to compare percussion drill assay results to diamond drill assay results and also to see if percussion drilling could improve recoveries on the southern portion of the Las Bolas structure where recoveries of less than 70% were encountered using a diamond drill. Results from the twinned holes were as follows:
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Line Drill From: To: Width: Silver Lead
Hole (Metres) gpt %
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S4 RAY08-RC01 69.0 88.5 19.5 184 0.60
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S4 RAY-07-08 64.5 84.0 19.5 187 0.13
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N/A(i) RAY08-RC41(i) 45.0 76.5 31.5 113 0.26
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N/A(i) RAY-07-11 49.1 84.2 35.1 92 0.04
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(i) RC41 was drilled approximately 50 metres south of the
resource definition drill area
RAY08-RC01, the first twinned hole drilled along the Las Bolas structure using a percussion drill, returned a near identical result as diamond drill hole RAY-07-08, which served to confirm that percussion drilling is an effective method for drilling along the Las Bolas structure. Recovery in RAYO-RC01 and RAY07-08 were near 100%.
RAY08-RC41, twinned diamond drill hole RAY-07-11. These holes are located outside of the resource definition area approximately 50 metres south of line S10. This is an area where previous diamond drilling achieved only a 70% core recovery due to poor ground conditions. Recovery utilizing percussion drilling in this area was 100% and assay values improved by roughly 30%. This result would indicate that future percussion drilling may increase the recovery rate and, as a result, may improve assay results for the southern portion of the Las Bolas structure.
The mineralized El Rayo and Las Bolas structures are contiguous and have been traced over 5 kilometres. Mineralization along the north-east trending Las Bolas structure has been defined over a 1.5 kilometre strike length to date. The 2007 orientation drill program primarily drill tested the southern portion of the Las Bolas structure over a 700 metre strike length with every drill hole intercepting mineralization. The decision to drill along the 500 metre north-east extension beyond the historic resource area was designed to demonstrate the consistency of the mineralization within the Las Bolas structure and to add to the historic resource as little to no drilling had previously been carried out in this area. The 2008 program clearly demonstrates the potential for an open-pit silver mine at El Rayo as mineralization is near surface and grade and widths are consistent along the 500 metres tested with widths and grade generally improving with depth. In addition the Las Bolas mineralized trend remains open to the north-east and warrants future drilling.
During the 2008 program ten sections at 50 metre spacings were completed. Along each section four holes were drilled to intersect the vein structure at 25 metre intervals down the predicted dip. Results of all 10 sections are summarized as follows:
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Line Drill From: To: Width: Silver Lead
Hole (Metres) gpt %
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-------------------------------------------------------------
S1 RC22 64.5 118.5 54 74 0.22
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including 103.5 117.0 13.5 152 0.68
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S1 RC23 63.0 81.0 18 55 0.01
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including 78.0 81.0 3 129 0.12
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S1 RC24 42.0 49.5 7.5 26 0.04
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S1 RC25 21.0 25.5 4.5 10 0.05
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S2 RC19 21.0 27.0 6 67 0.03
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S2 RC20 45.0 57.0 12 104 0.08
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including 48.0 54.0 6 149 0.08
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S2 RC21 49.5 79.5 30 96 0.25
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including 67.5 73.5 6 181 0.08
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S2 RC28 81.0 127.5 46.5 143 0.27
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including 99.0 118.0 19.5 261 0.56
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including 99.0 114.0 15 311 0.71
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S3 RC18 18.0 31.5 13.5 153 0.92
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including 21.0 27.0 6 263 1.85
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S3 RC17 27.0 57.0 30 122 0.13
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including 36.0 52.5 16.5 165 0.18
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S3 RC26 60.0 82.5 22.5 139 0.13
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including 64.5 81.0 16.5 175 0.16
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S3 RC27 96.0 126.0 30 148 0.22
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including 99.0 117.0 18 218 0.34
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S4 RC03 21.0 33.0 12 103 0.28
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S4 RC02 33.0 55.5 22.5 176 0.14
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S4 RC01 69.0 88.5 19.5 184 0.60
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S4 RC29 90.0 134.5 49.5 84 0.11
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including 115.5 136.5 21 118 0.07
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S5 RC11 28.5 36.0 7.5 58 0.04
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S5 RC13 43.5 76.5 33 77 0.09
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including 60.0 70.5 10.5 136 0.15
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S5 RC14 69.0 102.0 33 105 0.13
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including 81.0 93.0 12 179 0.22
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S5(i) RC30(i) 60.0 150.0 90 150 0.20
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including 111.0 144.0 33 138 0.13
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RC30 cut
S5(i) value(i) 60.0 150.0 90 99 0.20
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All intersections are reported as drill lengths. True widths
are not known at this time but are believed to be close to
drilled width based on lithology and drill orientation.
(i) 4,004 gpt silver was returned over 1.5m, the cut value
represents a cut off value of 1,000 gpt silver
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Line Drill From: To: Width: Silver Lead
Hole (Metres) gpt %
-------------------------------------------------------------
-------------------------------------------------------------
S6 RC09 39.0 46.5 7.5 120 1.27
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S6 RC10 58.5 70.5 12 92 2.07
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including 58.5 67.5 9 103 2.04
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S6 RC12 60.0 100.5 40.5 61 0.23
-------------------------------------------------------------
including 79.5 85.5 6 91 0.10
-------------------------------------------------------------
S6 RC16 123.0 153.0 30 69 0.23
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including 124.5 138.0 13.5 72 0.08
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including 124.5 132.0 7.5 74 0.09
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-------------------------------------------------------------
S7 RC08 31.5 48.0 16.5 155 4.68
-------------------------------------------------------------
including 33.0 43.5 10.5 203 6.09
-------------------------------------------------------------
S7 RC06 54.0 100.5 46.5 80 1.19
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including 58.5 73.5 15 120 3.08
-------------------------------------------------------------
S7 RC15 87.0 100.5 13.5 74 0.38
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including 88.5 91.5 3 98 0.53
-------------------------------------------------------------
S7 RC31 172.5 181.5 9 31 0.15
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-------------------------------------------------------------
S8 RC04 4.5 33.0 28.5 87 0.16
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including 4.5 18.0 13.5 110 0.26
-------------------------------------------------------------
S8 RC05 27.0 55.5 28.5 85 0.17
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including 27.0 45.0 18 103 0.22
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S8 RC07 61.5 66.0 4.5 51 0.14
-------------------------------------------------------------
RC10 58.5 70.5 12 92 2.07
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S8 RC32 87.0 102.0 15 51 0.38
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S9 RC36 3.0 34.5 31.5 107 0.54
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including 4.5 21.0 16.5 147 0.93
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S9 RC33 27.0 39.0 12 124 1.14
-------------------------------------------------------------
S9 RC37 49.5 58.5 9 63 0.1
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S9 RC38 70.5 79.5 9 73 0.07
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-------------------------------------------------------------
S10 RC34 19.5 34.5 15 46 0.12
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S10 RC35 45.0 51.0 6 51 0.06
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S10 RC39 76.5 94.5 18 61 0.04
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S10 RC40 109.5 120.0 10.5 87 0.05
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including 111.0 115.5 4.5 117 0.05
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-------------------------------------------------------------
All intersections are reported as drill lengths. True widths
are not known at this time but are believed to be close to
drilled width.
A location map along with all the drill sections can be viewed at www.soltoro.com/pdf/DS2008RCRAYO.pdf or by following a link on the company's website at www.soltoro.com/rayo.htm.
An historic, non NI 43-101 compliant, 7 million ounce silver resource has been reported within the El Rayo and Las Bolas structures. The Consejo Recursos Minerales, a Mexican government geological agency, defined 1,346,072 tonnes at 169 gpt silver in a report dating from 1992. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. Soltoro is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Assaying of RC samples from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Silver and other base and trace elements were analyzed using four acid "near total" digestion with an ME-ICP finish. Gold was analyzed using a 30g fire assay with AA finish. Internal standards provided by an independent company, locally derived blank samples and sample duplicates are being inserted for quality control purposes. Mr. William McGuinty, P.Geo., a director of the Company and qualified person as defined by NI 43-101 has reviewed the contents of this press release. Field supervision of the El Rayo project is provided by Mr. Chris Lloyd, Vice President, Exploration.
Soltoro is a junior exploration company active in Mexico. The Company is exploring for bulk tonnage gold, silver and copper deposits in Mexico and has two significant joint-ventures partners on two of its projects. Soltoro has 20,215,000 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact here-in, including, without limitation, statements regarding exploration results and plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.
On behalf of the board
Andrew Thomson, President
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.
Contacts: Soltoro Ltd Andrew Thomson President (416) 987-0722 Website: www.soltoro.com
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