Soltoro Reports Drill Results from Chinipas Gold Property in Chihuahua State, Mexico
29 October 2011 - 12:02AM
Marketwired
Soltoro Ltd. (TSX VENTURE:SOL) recently completed an eight hole,
1,821 meter drill program designed to test the bulk tonnage gold
potential at its 100%-owned Chinipas Project in Chihuahua State,
Mexico. The Chinipas property covers 1,421 hectares and is located
13 km north of the town of Chinipas.
At Chinipas, gold mineralization occurs in sheeted
quartz-pyrite-tourmaline veins and veinlets hosted by a strongly
fractured quartz-feldspar porphyry. Local prospectors have mined
coarse, visible gold from several veins on the property. Sampling
of the veins has returned 17.65 g/t gold over 15 cm, 2.92 g/t gold
over 2.0 metres, 2.49 gold over 1.3 metres and 2.14 g/t gold from a
3.0 metre by 3.0 metre panel sample. Veining occurs along a 3.5 km
long northeast-southwest trend. Drilling was carried out to test
the area of most intense veining covering a 1.2 km strike length
and 0.5 km width. Of the eight holes drilled, three holes returned
values as follows:
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Drill Hole From (m) To (m) Width(1)(m) Au (g/t)
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Chi11-1(2) No Significant Results
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Chi11-2 42.0 43.6 1.6 0.514
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52.5 53.0 0.5 0.560
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Chi11-3 No Significant Results
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Chi11-4 No Significant Results
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Chi11-5 No Significant Results
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Chi11-6 48.1 50.1 2.0 0.445
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72.6 75.1 2.5 0.970
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115.6 118.3 2.7 0.311
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Chi11-7 67.5 69.6 2.1 0.929
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77.4 78.0 0.6 1.260
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Chi11-8 No Significant Results
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(1) All intersections are reported as drilled thickness. True widths are
not known at this time.
(2) Hole abandoned in fault zone before reaching target.
Quartz-pyrite-tourmaline veinlets and associated alteration were
encountered at depth which returned isolated anomalous values of
gold, silver, copper, zinc and molybdenum. No further work is
planned for the property at this time. 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.
About Soltoro:
Soltoro is engaged in exploration for bulk tonnage gold and
silver deposits in Mexico. The Company has two diamond drills
operating at the El Rayo silver project with the objective of
expanding the existing NI 43-101 silver resource. An orientation
drill program was recently completed at the Chinipas gold project
in the State of Chihuahua. Soltoro has optioned a portion of its
Quila claim to Timmins Gold Corp. and optioned its Victoria and
Coyote claims to Argentum Silver Corp. The Company continues to
actively advance its La Tortuga, El Santuario and Pena Grande
projects. Soltoro has 56,666,537 shares outstanding and trades on
the TSX Venture Exchange under the symbol SOL. Coeur D'Alenes 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
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Soltoro Ltd. Andrew Thomson President (416)
987-0722www.soltoro.com
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