Soltoro Completes Magnetic Surveys at Tecolote and Quila Projects
June 25, 2014 (Source: Marketwired) — Soltoro Ltd. (TSX VENTURE:SOL) has completed two separate ground magnetic geophysical surveys at its 100%-owned Tecolote and Quila projects. The surveys were conducted to better understand their structural settings with a view to defining gold targets for drilling. Recent geological compilations have identified a broad northwest-trending belt of gold-silver mining districts that includes Soltoro’s El Rayo, Tecolote and Quila Projects, Cayden Resources El Barqueño Project and Endeavour Silver’s San Sebastian Project.
Tecolote Survey Results
The Tecolote Project is located within the Guachinango District (“Guachinango”) of Jalisco, Mexico. Tecolote is less than 10 kilometres north of Soltoro’s El Rayo primary silver project and 10 kilometres northeast of the El Barqueño property. Mineralization in Guachinango is structurally controlled and has been identified in northeast and east-west-trending structures near intersections with the regional northwest trend. Tecolote lies along one of these northeast-trending structures.
To date, Soltoro has explored the eastern portion of the concession. The most significant gold and silver grades encountered to date were collected along the east-west-trending Carmelita vein, which yielded 3.0 m averaging 14.16 g/t gold and 308 g/t silver (Soltoro NR152, June 17, 2013). Carmelita has been traced on surface for 100 metres before disappearing under cover, although the structure hosting the Carmelita vein has been traced for over 500 metres along strike using ground magnetics.
Ground magnetics now cover ~95% of Tecolote and confirm the importance of the northeast structural trend in controlling mineralization. The recently completed geophysical program also identified a number of subsidiary northwest-trending structures which appear to play an important secondary role in controlling gold mineralization. Three felsic volcanic centers thought to be related to mineralization have also been recognized. The best known example of this style of mineralization is at the Tecolote dome, which includes several prospects (San Eusebio, Veta Grande and Carmelita) as well as three recently identified stockwork zones with associated alteration peripheral to the volcanic center. Two of the three known felsic volcanic centers have been examined while the third remains to be explored. Sampling programs are planned to define drill targets in alteration zones peripheral to felsic volcanic centers.
Quila Survey Results
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Quila is located south of the town of Ameca along the same regional northwest trend as Soltoro’s El Rayo and Tecolote projects. Mineralization at Quila consists of gold, and copper with gold occurring in veins and breccias. A total of 1,019 hectares were covered by ground magnetic surveys in order to confirm the northwest structural corridor controlling mineralization between the San Geronimo and Texcalame areas and the east-west-trending structures controlling mineralization between the Texcalame and Altavista de Ramos areas; both trends were positively confirmed and several magnetic lineaments were defined concurring with positive rock sampling. Further ground magnetics are planned followed by mapping and sampling to define drill targets.
A claims location and magnetic surveys results maps for Tecolote and Quila may be viewed at: http://www.soltoro.com/projects/pdf/NR166maps.pdf
Mr. Steven T. Priesmeyer, C.P.G., is Vice President Exploration for Soltoro Ltd. He is a qualified person as defined by NI 43-101 and he has reviewed the geological contents of this press release. Assays reported for exploration results were completed by ALS Geochemistry through their office in Guadalajara, Mexico. Analytical procedures include a 33 element ICP-AES analysis (ME-ICP61m) and a 50 g FA AA finish for gold (AA-24). Silver assays exceeding 100 g/t are re-assayed by HCL leach with an ICP-AES or AAS finish (OG62).
Soltoro is engaged in exploration for gold and silver deposits in Mexico. Soltoro holds in excess of 30,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project while seeking partners to advance the balance of its projects. Soltoro holds 15% of the common shares of Argentum Silver Corp. with a 3% N.S.R. payable on Argentum Silver’s Victoria and Coyote properties. Soltoro’s La Tortuga project is under option to Gold Reserve Inc. Soltoro has 69,533,037 common share issued and outstanding and trades on the TSX Venture Exchange under the symbol “SOL”.
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. 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>