Soltoro Ltd. has resumed diamond drilling at the El Rayo Primary Silver Project in Jalisco, Mexico. The 5,000 meter drilling program is designed to test the Las Bolas silver deposit at depth and in-fill between some of the shallower holes. The first deep hole is intended to intercept mineralization 100 meters down dip from drill hole Ray10-46. This hole intersected 259.7 metres of 50 g/t silver including 87.5 metres of 72 g/t of oxidized silver mineralization to a vertical depth of 250 metres (see Sept. 24, 2010 NR80). Holes are also planned to test extensions of mineralization at the Highway Zone and the newly discovered La Soledad structure south of Las Bolas. Additional targets are also being considered for drill testing in 2011.
The La Soledad mineralized structure, located south of the Las Bolas deposit, was discovered through trenching in a farmer’s field. This area has never been mined and is parallel to the Catarina mine trend. Three shallow drill holes are planned to test the La Soledad structure.
In late 2010, Soltoro identified the Santa Fe prospect, located one kilometer east of the Las Bolas deposit. Initial mapping and sampling indicate that this may represent the northeastern extension of the Las Bolas structure.
Soltoro is also completing a compilation of data from the Catarina mine area with a view to defining a silver resource. To date Soltoro has completed a total of six diamond drill holes where hole Ray07-23 returned 46.5 m of 115 g/t silver (NR25). The Soltoro drill holes, along with recent Soltoro trenching data and results from 42 historic diamond drill holes, numerous historic surface trenches and historic underground sampling, are being reviewed to design a drilling program.
A map showing the location of the proposed drill holes may be viewed on the Company’s website at: http://www.soltoro.com/projects/pdf/initial2011drilling.pdf.
Andrew Thomson, President and Chief Executive Officer, stated: “Soltoro is focused on defining silver resources along three kilometres of known mineralized structure from the Catarina mine in the south to the northeastern end of the Las Bolas deposit. Defining the extent of the mineralized envelope of the Las Bolas deposit, where the thickness of silver mineralization is increasing with depth and continuing at surface to the north, is our priority. The La Soledad structure and Santa Fe area represent potentially significant additions to the Las Bolas deposit.”
Assaying 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. Standards provided by an independent company and locally derived blank samples are inserted for quality control purposes. 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 contents of this press release. Field supervision of the El Rayo project is provided by Mr. Patrick Toth, P. Geo., Vice President of Operations, Soltoro Mexico.