Soltoro Expands El Rayo Mineralization at Depth

Soltoro Expands El Rayo Mineralization at Depth post image

Soltoro Ltd. (SOL:TSX.V – $0.38 & 3VE – €0.294) has successfully expanded the sulphide mineralization at depth to a 200 metre strike length at its El Rayo primary silver project in Jalisco State, Mexico.

The Company announced results from four diamond drill holes, three of which were drilled along strike of drill hole RAY-12-152. Results for RAY-12-152 were announced mid January, and returned 91.3 metres of 129 g/t silver equivalent, including 11.2 metres of massive sulphide mineralization grading 537 g/t silver equivalent. Because of these excellent grades, Soltoro elected to drill four additional holes at 50 metre spacings north and south of RAY-12-152, to find out if the deep sulphide zone extends along strike. And it does.

Sulphide mineralization was intersected over 200 metres of strike at depth in all four holes drilled along strike of RAY-12-152. Results from a fifth hole, RAY-13-158 (see image below) are still pending, but the presence of sulphide mineralization has already been visually confirmed.

Hole
Number
From
(meters)
To
(meters)
Interval
(meters)
Ag Grade
(g/t)
Pb Grade
(%)
Ag Eq Grade
(g/t) (1)
RAY-13-153 268.5 294.0 22.1 93 0.95 117
including
275.8 289.5 11.85 149 1.69 191
including
279.0 284.15 4.45 295 4.2 399
including
279.6 280.6 0.85 1,085 8.12 1,290
RAY-13-154 249.0 307.2 50.4 56 0.28 63
including
265.6 294.0 24.6 76 0.46 88
including
277.6 287.3 8.5 100 0.68 118
including
285.6 287.3 1.45 231 2.12 288
RAY-13-155 312.0 388.8 57.05 52 0.14 55
including
326.9 358.0 23.1 72 0.22 78
including
346.55 350.1 2.65 95 0.34 104
RAY-13-156 285.5 360.0 64.5 79 1.08 106
including
298.3 329.6 27.1 149 2.21 203
including
322.5 329.6 6.15 330 8.63 543
including
325.7 328.4 2.35 669 16.28 1,069
Note 1: Ag Eq – Silver equivalent includes Au, Ag and Pb and excludes Cu & Zn.

77.4 Million Ounces Resource

Soltoro holds in excess of 110,000 hectares of property in Mexico with over 55,000 hectares of ground in Jalisco State. The Company is most active in the Guachinango district, which was first explored by Spanish conquistadors in the sixteenth century. Soltoro has staked portions of 7 of the 12 historical mining districts in that area.

The Company focuses on expanding the silver resources at its El Rayo Primary Silver Deposit, which has a Measured and Indicated in-pit resource of 77.4 million ounces silver. The December 2011 estimate is based on approximately 13,341 metres of diamond drilling in 73 holes and 14,120 metres of reverse-circulation drilling in 104 holes in the Las Bolas, La Soledad, Highway Zone and El Rayo areas.

In 2012, Soltoro completed a series of field programs to expand the resource. The Company completed over 13,000 metres of diamond drilling, an environmental baseline study, ground geophysics over the entire property, aerial photography resulting in the generation of topographic maps at one metre contour intervals suitable for mine planning; further metallurgical testing; reinterpretation of airborne geophysics. Additionally, over 11,000 soil samples were collected and processed.

Conclusion

The 350 metres long hole RAY-12-152 was the first drill hole intended to intersect deep mineralization at El Rayo. It was located on the basis of a series of structural and geochemical workings on the property.

Although infill drilling will be required to bring the at-depth mineralization into the resource, the promising results from RAY-12-152, and the five new drill holes, present an exciting opportunity to continue to build the silver resource at El Rayo. Moreover, mineralization remains open along strike in both directions and at depth.

If you haven’t taken an initial position in Soltoro yet, we advice you to take advantage of its undervalued stock price now.

Drill hole location map for the Las Bolas deposit area at the El Rayo primary silver project.

For important disclosures, please read our disclaimer.
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