Soltoro and Argentum Silver Drilling Intercepts 4 Metres of 1,470 gpt Silver Including 2 Metres of 2,745 gpt Silver at Coyote...
February 29 2012 - 8:00AM
Marketwired Canada
Soltoro Ltd. (TSX VENTURE:SOL) and Argentum Silver Corp. (TSX VENTURE:ASL) are
pleased to announce assay results from the first four diamond drill holes
completed on the El Tajo vein at the Coyote property located in Jalisco, Mexico.
Highlights from holes number 2012-1 through 2012-4 returned 4.0 metres of 1,470
g/t silver (Ag) including 2.0 metres of 2,745 g/t Ag from hole 2012-3. This
high-grade intercept is part of a 7.0 metre wide zone where drilling encountered
0.80 metres of historic underground workings. Hole 2012-1 intercepted 6.10
metres of 128 g/t Ag. This second intercept is part of a 9.15 metre wide zone
where the hole encountered 3.05 metres of historic underground workings.
Intercept highlights are as follows:
----------------------------------------------------------------------------
INTERCEPT
HOLE FROM TO WIDTH Ag Au Pb Zn
ID (m) (m) (m)(i) (g/t) (g/t) (%) (%)
----------------------------------------------------------------------------
2012-1 75.70 81.80 6.10 128 0.21 0.07 0.12
81.80 84.85 3.05 old working were encountered - no sample
84.85 86.80 1.95 58 0.03 0.03 0.07
----------------------------------------------------------------------------
2012-2 97.00 99.80 2.80 180 1.00 2.89 5.86
----------------------------------------------------------------------------
2012-3 68.00 72.00 4.00 1470 0.57 0.69 1.150
Including 70.00 72.00 2.00 2745 0.83 1.27 2.13
72.00 72.80 0.80 old working were encountered - no sample
72.80 75.00 2.20 300 0.17 0.09 0.14
----------------------------------------------------------------------------
2012-4 47.60 50.60 3.00 312 0.60 0.17 0.41
----------------------------------------------------------------------------
(i) All intersections are reported as drilled widths.
The four angled drill holes totaled 284 metres and tested a 215 metre strike
length of the El Tajo vein, intercepting the vein at depths ranging from about
45 to 95 metres vertically below surface. Five more holes are being drilled as
part of the current program to test an additional 250 metres of the vein,
bringing a total strike length of 465 metres being drill tested at the El Tajo
vein. This first phase drill program will also test portions of three other
mineralized zones within the property area, including La Florida, Bocancha and
La Colorada. This drill program was initially planned for 19 holes totaling
2,000 metres. However, with these initial encouraging results, Argentum Silver
is considering expanding the drill program.
The 1053-hectare Coyote property contains dozens of individual low sulfidation
epithermal silver-gold veins and stockwork. Most of the mineralization occurs
within six defined zones within an area of approximately 1.5 x 2.6 kilometres.
Vein widths typically range from 1 to over 5 metres. Zones of stockwork have
locally been mapped over widths exceeding 35 metres. Over one hundred historic
workings and prospects explored and partially developed the district through the
early 1900's. Historic production concentrated on "bonanza" silver grades with
operational depths limited by the high water table.
About the Coyote Property
The Coyote project is located near the town of Chilicoyote, within the state of
Jalisco, Mexico. Road access and infrastructure are excellent. The property is
approximately 150 linear kilometres southwest of the capital city of
Guadalajara, and roughly a 3 1/2 hour drive. Topography is generally gentle to
moderate. A regional electrical power line crosses the property.
Soltoro currently holds 2.1M common shares of Argentum Silver and stands to
receive an additional 3.5M common shares over the course of the option
agreement. On completion of the terms of the agreement, Argentum will acquire a
100% undivided interest in Soltoro's Victoria and Coyote silver-gold projects.
Soltoro retains a 3% NSR interest in each project whereby up to 2% can be
purchased for US $1.5 million per 1% NSR. Soltoro holds in excess of 55,000
hectares of ground in Jalisco State. At Soltoro's 100% owned El Rayo primary
silver project, two drills are operating to further expand the existing silver
resource. For more information on Soltoro's projects please visit
www.soltoro.com.
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. Assaying from this program was completed by ALS
Chemex 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).
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.
Soltoro has optioned several of its properties in Jalisco State. The Company is
seeking partners to advance its Chinipas, La Tortuga, El Santuario and Pena
Grande projects. Soltoro has 58,948,037 shares outstanding and trades on the TSX
Venture Exchange under the symbol SOL. Coeur d'Alene 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.
Argentum Silver (TSXV:ASL)
Historical Stock Chart
From May 2024 to Jun 2024
Argentum Silver (TSXV:ASL)
Historical Stock Chart
From Jun 2023 to Jun 2024
