Soltoro Ltd (SOL – $0.57) is a Canadian mineral exploration Company holding in excess of 110,000 hectares of property in Mexico with over 55,000 hectares of ground in Jalisco State, Mexico. The Company is most active in the Guachinango district in Jalisco where the area was first explored by Spanish conquistadors in the sixteenth century and was most actively mined until the 1920s. Since 2006, Soltoro has staked portions of 7 of the 12 more historical mining districts in Jalisco State.
Soltoro’s main property, the El Rayo primary silver property, has excellent access and infrastruc-ture. Drill rigs may be driven right onto the property and can operate year round. Access to the Mexican power grid is readily available.
Soltoro is especially focusing on expanding the silver resources at El Rayo, which currently has a NI 43-101 resource estimate of 77.4 million ounces silver. The Company is actively expanding the mineralized footprint at El Rayo with several field programs, including ground magnetic and induced polarization geophysical surveys, an aerial photographic survey over the entire property, soil geochemical, etc. Moreover, drilling continues at several highly prospective zones on the property.
The Company is seeking partners to advance the balance of its projects. Soltoro holds 15% of the common shares of Argentum Silver Corp. pursuant to the completion of the sale to Argentum Silver of the Victoria and Coyote properties. Soltoro’s La Tortuga project has been optioned to Gold Reserve Inc. whereby Gold Reserve can acquire a 51% interest in the project by making $3.65 million in property and cash payments to Soltoro.
With over $2.8 million in the bank, Soltoro continues to develop its resource at El Rayo through drilling. Soltoro is an excellent buy-out candidate with a pure silver property that’s moving towards a 100 million ounce silver resource.
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