Soltoro Ltd. (TSX VENTURE:SOL - News) has engaged Scott
Wilson Roscoe Postle Associates Inc. to provide an
updated NI 43-101 compliant mineral resource estimate for the Las Bolas
silver deposit to include results from the latest step-out drill holes, as
well as a resource estimate for the Highway Zone. Metallurgical test work, to
be included in the report, is being carried out by Kappes
Cassiday and Associates. The Mineral Resources of
the Las Bolas deposit area reported in the NI 43-101 report released in May
of 2010 included Indicated Mineral Resources and Inferred Mineral Resources
as listed in the table below.
Las Bolas Deposit & Matachines Zone Resource Estimates, as of May 2010
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Deposit Cut-off grade Tonnes Grade in Contained
Zone (g/t Ag) (g/t Ag) ounces of silver
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Indicated Mineral Resources
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Las Bolas 40.0 9,470,000 69.4 21,100,000
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Inferred Mineral Resources
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Las Bolas 40.0 1,800,000 67.4 4,000,000
Matachines 40.0 400,000 65.0 850,000
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Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources were estimated using a price of US$16.00/oz Ag.
3. Mineral Resources are estimated at the cut-off grade of 40 g/t Ag.
4. A minimum mining width of 5.0 metres was used.
5. Density of 2.5 tonnes/m(3) is used for the mineralized material.
6. Tonnage, average grade, and contained ounces are rounded.
The NI-43-101 report also
included the exploration potential for the Highway Zone, which is situated
approximately 450 m south of the main Bolas Structure. At a 40 g/t Ag cut-off
grade, the geological potential for mineralization in this zone was reported
as 2 million to 2.3 million tonnes at an average
grade ranging from 73 g/t Ag to 79 g/t Ag.
Soltoro considers the potential quantity
and grade of the Highway Zone to be conceptual in nature, that there has been
insufficient exploration to define a mineral resource and that it is
uncertain if further exploration will result in the target being delineated
as a mineral resource and it is uncertain if further exploration will result
in discovery of a mineral resource.
Select drill results from
the 10 step-out holes to be included in the updated NI 43-101 resource
estimate include the intersections listed below:
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Section Drill Structure From: To: Interval: g/t Ag
Line: Hole: (metres)
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S1 DDH41 Las Bolas 3 175.5 172.5 46
including 138 171 33 80
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S4 DDH46 Las Bolas 20 279.7 259.7 50
including 20 107.5 87.5 72
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S12 RC118 Las Bolas 202.5 256.5 54 76
including 235.5 250.5 15 125
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S14 RC117 Las Bolas 181.5 243 61.5 106
including 205.5 235.5 30 172
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The updated resource
estimate of the El Rayo Property in the NI 43-101
Technical Report by Scott Wilson RPA will be released in Q1 of 2010.
Mr Terence J. Bottrill,
P.Eng.,
a consultant, member of the advisory board of the Company and a qualified person
as defined by NI 43-101 has reviewed and approved the contents of this press
release.
The May 2010 NI 43-101
resource estimate was completed by Hrayr Agnerian, M.Sc. (Applied), P.Geo.. Mr Agnerian
is the Qualified Person for the purposes of National Instrument 43-101
Standards of Disclosure for Mineral Projects of the Canadian Securities
Administrators and has verified the data disclosed in this release.
About Soltoro:
Soltoro is engaged in exploration for
bulk tonnage gold and silver deposits in Mexico. The Company continues to
develop its El Rayo silver-gold project to expand
the existing NI 43-101 compliant silver resource. Soltoro
has also recently completed a mapping and sampling program at its Pena Grande
project; and is actively advancing its Victoria, Quila,
Tortuga, Chinipas and El Santuario
projects. Soltoro has 37,665,225 shares outstanding
and trades on the TSX Venture Exchange under the symbol SOL.
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.
Contact:
Andrew Thomson
Soltoro Ltd.
President
(416) 987-0722
www.soltoro.com
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