Soltoro Ltd TSXV:SOL announced a resource estimate for its El Rayo Silver Project in Jalisco State, Mexico. The 43-101 includes an updated silver estimate for Las Bolas and Highway Zone structures, an initial silver estimate for La Soledad structure and an initial gold estimate for El Rayo Northern Zone.
The estimates for all zones use a 20 g/t silver cutoff. Total measured and indicated estimates showed 42.2 million tonnes grading 57.11 g/t for 77.4 million ounces silver. Total inferred estimates showed 580,000 tonnes grading 65.51 g/t for 1.18 million ounces silver.
Las Bolas estimate showed 6.1 million tonnes grading 63.44 g/t for 12.4 million ounces silver measured and 29.3 million tonnes grading 49.49 g/t for 46.6 million ounces silver indicated.
The Highway Zone estimate showed 2.9 million tonnes grading 57.39 g/t for 5.4 million ounces silver indicated and 210,000 tonnes grading 36.34 g/t for 245,000 ounces silver inferred.
La Soledad estimate showed 3.9 million tonnes grading 104.2 g/t for 13 million ounces silver indicated and 370,000 tonnes grading 82.15 g/t for 935,000 ounces silver inferred.
The silver estimates used prices of $27 an ounce. No credits were assigned for other metals.
The company also released a gold resource estimate for El Rayo Northern Zone. Using a 0.35 g/t gold cutoff, the estimate showed 380,000 tonnes grading 1.85 g/t for 22,600 ounces gold indicated and 365,000 tonnes grading 1.61 g/t for 18,900 ounces gold inferred.
The gold estimate used a price of $1,300 an ounce.
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by Greg Klein