Friday 9th December 2016

Resource Clips


Posts tagged ‘Soltoro Ltd (SOL)’

Argentum, Soltoro report Mexico Results of 900 g/t Silver, 0.45 g/t Gold over 2.4m

March 8th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningArgentum Silver Corp TSXV:ASL and Soltoro Ltd TSXV:SOL announced assays from their Coyote Property in Jalisco State, Mexico. Highlights include

900 g/t silver, 0.45 g/t gold, 0.26% lead and 0.99% zinc over 2.4 metres
(including 1,645 g/t silver, 0.65 g/t gold, 0.22% lead and 1.36% zinc over 1.2 metres)
403 g/t silver, 0.19 g/t gold, 0.19% lead and 0.07% zinc over 2.5 metres
143 g/t silver, 0.31 g/t gold, 0.62% lead and 1.95% zinc over 1 metre
43 g/t silver, 0.25 g/t gold, 0.72% lead and 0.96% zinc over 4.4 metres

Soltoro holds 2.1 million common shares of Argentum and may acquire another 3.5 million shares over the course of the option agreement. On completing the terms of the agreement, Argentum will acquire a 100% undivided interest in Soltoro’s Victoria and Coyote silver-gold projects. Soltoro will retain a 3% NSR in each project. Up to 2% of that may be purchased for US$1.5 million per 1% NSR.

View Company Profile

Contact:
Argentum Silver Corp
Ian Tootill
IR Director
604.661.2110

Soltoro Ltd
Andrew Thomson
President
416.987.0722

by Greg Klein

Soltoro reports Mexico Silver Assays up to 567 g/t over 16.8m

January 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSoltoro Ltd TSXV:SOL announced assay results from the Soledad structure of its El Rayo primary silver deposit in Jalisco, Mexico. Highlights include

567 g/t silver over 16.8 metres (including 3,510 g/t over 1.5 metres)
36 g/t over 3 metres
20 g/t over 9.2 metres
38 g/t over 12 metres
20 g/t over 7.1 metres
57 g/t over 4.5 metres

President/CEO Andrew Thomson remarked, “Two drills continue to operate at El Rayo with a view to expanding existing resources. Ray11-113 was drilled in the western silver zone at Soledad and confirms that the high-grade silver mineralization continues at depth. These results were not included in the current Soledad resource. An associated series of ground and airborne magnetic anomalies has been traced for several kilometres east and west along strike and are slated for drilling in 2012.”

View Company Profile

Contact:
Andrew Thomson
President
416.987.0722

by Ted Niles

Soltoro reports Mexico Silver Resource of 77.4M ounces M&I, 1.18M ounces Inferred

December 22nd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningSoltoro 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.

View Company Profile

Contact:
Andrew Thomson
President
416.987.0722

Read feature story on Soltoro Ltd.

by Greg Klein

It’s Better In Mexico

June 22nd, 2011

Soltoro Has 58 Million Ounces Silver and Counting

By Ted Niles

Andrew Thomson believes he has a distinct advantage over rivals elsewhere. “What the majors want,” the President and CEO of Soltoro Ltd declares, “are primary silver plays, and they want them in either Mexico or Peru.” Soltoro has a substantial silver play in Mexico, and it also enjoys the considerable benefits of a more stable jurisdiction.

“Peru had a little bit of a knock of late,” Thomson explains. The knock to which he refers is the June 5 election of Ollanta Humala, former military rebel and leader of the Peruvian Nationalist Party. Humala’s election raises the possibility not only of higher royalties but also of quasi-nationalization. “Mexico, as a result, has become more attractive,” Thomson argues.

Soltoro Has 58 Million Ounces Silver and Counting

Soltoro’s 10,000-hectare El Rayo silver-gold project is located on the Trans-Mexican Volcanic Belt in Jalisco State. Soltoro acquired the property in 2005 and has focused mostly on the Las Bolas structure and the Highway Zone, for which the company released an NI 43-101 in-pit resource estimate June 14 of 58.3 million ounces silver measured and indicated and 300,000 ounces inferred, both at a 20 g/t cut-off. This more than doubles the initial resource, released May 2010, and Thomson expects it to get even bigger.

“We’re continuing with expansion drilling,” he says, referring to the work currently being done on the Soledad structure—an area of the property not included in the new resource estimate. “In the very short term, I’m really trying to reach the 100-million-ounce silver target. The company announced a 15,000-metre drill program, and there’s serious consideration being given to increasing that.”

June 21 Soledad assays include 300 grams per tonne silver over 43.7 metres, 222 g/t over 43.7 metres, 115 g/t over 53.7 metres and 198 g/t over 33.5 metres. May 30 assays included 388 g/t silver over 21.6 metres (including 1,010 g/t over 7 metres) and 527 g/t over 6.9 metres (including 1,070 g/t over 1.6 metres). Thomson comments, “These are just the initial holes going into the structure; we have yet to step back on these holes to really start building tonnage. So we’re pretty excited. We’re getting into high-grade zones. We’re basically now a bulk-tonnage play in addition to a high-grade play, and it’s very consistent mineralization.”

Given the potential, Thomson expects suitors to come calling. He reports, “We’re going to try to grow the resource to something that’s more in the two-million-ounce gold-equivalent range. At that point we’ll have to make a decision. I think there’s going to be a mergers-and-acquisitions period coming up where the majors are finally going to really start looking down the ladder and acquiring juniors, and I suspect if we get to that level, we’ll probably be taken out.”

He adds, “But I’m not ruling out trying to put it into production ourselves. In fact, we have an acquisition that we’ve been looking at that would take us there very quickly. So there is some thought being given to it, but I would feel more comfortable at a slightly higher market cap.”

We’ve got a lot of majors looking at us right now, and we’re becoming more attractive by the day —Andrew Thomson

Between the promise of the deposit, infrastructure which “couldn’t be better,” and its location—with the cities of Puerto Vallarta and Guadalajara on either side of it (“Guadalajara is hosting the Pan Am Games this year, so it’s quite safe”)—Thomson is confident. “It’s one of those good-looking-girl-at-the-dance situations,” he muses, “you can pick and choose who you want to dance with. We’ve got a lot of majors looking at us right now, and we’re becoming more attractive by the day. I think it’s still a really great time to be a silver explorer in Mexico, and we happen to have a project that’s far more advanced than a lot of the projects out there.”

At $43.5 million, Thomson considers Soltoro undervalued. “People are really only valuing us on this one property when there are all sorts of other things going on in the company that are pretty exciting.” Among those is Soltoro’s Chinipas gold project in southwest Chihuahua State, 14 kilometres from Coeur d’Alene’s currently producing Palmarejo Mine, for which a 2,000-metre drill program was announced June 5. “It’s a separate gold property that we’re not seeing too much about,” explains Thomson. “We staked the ground four or five years ago, and there’s been $1.5 billion put into the local infrastructure. So we’re really trying to get our secondary project on stream.”

At press time, Soltoro trades at $0.88 per share with 49.4 million shares outstanding. Thomson concludes, “I think we’re in the middle of a fairly intense bull market, and we’re seeing a lot more interest from the US. The US contingent—whether it’s retail or institutional—is expecting a 20% drop in their currency. There’s a lot of cash looking for homes, and they want to get into hard assets.”

Soltoro President Andrew Thomson on Mexico silver assays of 194 g/t over 19.5m

April 13th, 2011

“The deposit that we have been working on is in a zone called Las Bolas. It’s a structure that runs north-northeast and we were looking to expand it to the north. On the south end of that structure is a cross-cutting northwest structure called Soledad. That area has never seen any drill results. To date we have identified 400 metres of strike length. The Soledad structure is parallel to the El Rayo structure, which is where most of the historic mining took place. The mineralization we’re seeing at Soledad is higher grade than Bolas; Bolas is more large-disseminated, this is more ore shoots. At the end of the day we’re looking for ore shoots in the Soledad structure.

“The assays from the trenching are quite good. We’re seeing a fairly high grade material. We’ve completed 22 trenches on that structure and we’re seeing mineralized intervals of over 400 metres. So it’s very consistent with the La Catarina mine, which is basically the series of hills right behind Soledad. We’ve begun drilling based on the trenching results; we’ve got four holes planned on the structure. We’re hoping to be able to intercept the same sorts of values at depth in a drill hole.

“This year we’re going to continue to define and expand the resource at Las Bolas. We’re drilling to depth to try and hit a sulphide zone. We think we may have another ore shoot feeder to the south on that structure. The parallel structures—both the El Rayo and Soledad—are going to be drilled this year with a view to adding more resource through defining further tonnage and being able to find more of these ore shoots.

“We’re still in the exploration stage. For the project to move forward and a production decision to be made we really need to define more ounces. We haven’t started any sort of feasibility study. Right now, we’re trying to drill off the known mineralized zones. We are going to put out a revised resource by the end of June—which doesn’t incorporate these areas we’re drilling now, but will include the step-out holes that we drilled at Las Bolas. Really what we’re doing is looking at the extensions to the south and to the northwest of the Bolas structure to try and add more ounces.

“I think the project is pretty exciting. We’ve got a very robust silver price. Based on what we’re seeing in terms of strike length, we’re at least two kilometres along in terms of the known mineralized zones, and we’ve got another roughly four kilometres of untested zones that we’re doing work on now. And that’s only 30% of the total surface area on the project itself. So there’s lots of upside on the exploration side to be able to increase the resource.”

View Press Release Summary

View Company Profile

Soltoro reports Mexico Silver Assays up to 194 g/t over 19.5m

April 12th, 2011

Soltoro Ltd TSXV:SOL announced results from the Soledad structure of its El Rayo Silver Project in Mexico. Assays include 148 g/t silver over 3 metres, 57 g/t over 15.8 metres, 74 g/t over 12 metres (including 121 g/t over 4.5 metres), 194 g/t over 19.5 metres (including 286 g/t over 6 metres), 60 g/t over 4.5 metres, 589 g/t over 3 metres, 51 g/t over 6 metres, 67 g/t over 10.5 metres and 37 g/t over 7.5 metres.

President/CEO Andrew Thomson tells ResourceClips.com, “The deposit that we have been working on is in a zone called Las Bolas. It’s a structure that runs north-northeast and we were looking to expand it to the north. On the south end of that structure is a cross-cutting northwest structure called Soledad. That area has never seen any drill results. To date we have identified 400 metres of strike length. The Soledad structure is parallel to the El Rayo structure, which is where most of the historic mining took place. The mineralization we’re seeing at Soledad is higher grade than Bolas; Bolas is more large-disseminated, this is more ore shoots. At the end of the day we’re looking for ore shoots in the Soledad structure.

“The assays from the trenching are quite good. We’re seeing a fairly high grade material. We’ve completed 22 trenches on that structure and we’re seeing mineralized intervals of over 400 metres. So it’s very consistent with the La Catarina mine, which is basically the series of hills right behind Soledad. We’ve begun drilling based on the trenching results; we’ve got four holes planned on the structure. We’re hoping to be able to intercept the same sorts of values at depth in a drill hole.

“This year we’re going to continue to define and expand the resource at Las Bolas,” continues Thomson. “We’re drilling to depth to try and hit a sulphide zone. We think we may have another ore shoot feeder to the south on that structure. The parallel structures—both the El Rayo and Soledad—are going to be drilled this year with a view to adding more resource through defining further tonnage and being able to find more of these ore shoots.

“We’re still in the exploration stage. For the project to move forward and a production decision to be made we really need to define more ounces. We haven’t started any sort of feasibility study. Right now, we’re trying to drill off the known mineralized zones. We are going to put out a revised resource by the end of June—which doesn’t incorporate these areas we’re drilling now, but will include the step-out holes that we drilled at Las Bolas. Really what we’re doing is looking at the extensions to the south and to the northwest of the Bolas structure to try and add more ounces.

“I think the project is pretty exciting,” Thomson concludes. “We’ve got a very robust silver price. Based on what we’re seeing in terms of strike length, we’re at least two kilometres along in terms of the known mineralized zones, and we’ve got another roughly four kilometres of untested zones that we’re doing work on now. And that’s only 30% of the total surface area on the project itself. So there’s lots of upside on the exploration side to be able to increase the resource.”

View Company Profile

Contact:
Andrew Thomson
President
416.987.0722

by Ted Niles

Soltoro President Andrew Thomson on Mexico silver assays of 143 g/t over 46.6m

February 15th, 2011

“El Rayo is the one of the first two mines in Mexico to be mined. It dates back to 1546, so it’s quite a historic area. Washinango, the local town, used to be the state capital of Mexico. The project is in area of Mexico that’s very safe—it’s not in the mountains, it’s on the main road. It was part of the federal mine reserve up until the late 80s. We staked it and since staking we’ve proved-up just under 26 million ounces and we’re expanding it through drilling as we speak.

“These results are basically infill drilling. We’d done a prior program where we hadn’t assayed the tops of the holes. So we went in and we’ve now assayed the tops of the holes down. Basically it’s part of our resource calculation that we’re carrying out. And I’m pretty happy with the results. Effectively we’re showing that in the tops of the holes there’s mineralization—there are some fairly decent values and widths in those calculations. We’re basically working on trying to bring the strip ratio down and we seem to have achieved that in this area of the deposit where we’ve drilled.

“For 2011 we want to try and move the resource to the next level. At this moment there’s basically the equivalent of a quarter million ounce deposit if you use the 50-to-1 gram ratio. I think it’s critical to get it to the next level—above the 50 million ounce level. So the drilling we’re doing now and the resource calculation are designed to do that. We’re in a fairly good silver market, so really we want to get it to the level where we can demonstrate that it’s economically viable.

“At the moment we haven’t made any production decisions. There is a property that is contiguous that has just gone into production, and we’ve had some discussions with them. And we’ve talked to different senior companies about becoming involved. So we haven’t made a production decision at this stage. We really have to get the ounce-count up to make that decision. But we’re working on it.”

View Company Profile

Soltoro reports Mexico Silver Assays as high as 143 g/t over 46.6m

February 14th, 2011

Soltoro Ltd TSXV:SOL announced assays from the Las Bolas Deposit Zone of its El Rayo Project in Mexico. Results include 45 g/t silver over 81 metres (including 92 g/t over 23 metres), 67 g/t over 120.5 metres (including 149 g/t over 31.5 metres), 56 g/t over 62.4 metres (including 111 g/t over 20 metres), 46 g/t over 124 metres (including 132 g/t over 20.2 metres), and 143 g/t over 46.6 metres.

President/CEO Andrew Thomson tells ResourceClips.com, “El Rayo is the one of the first two mines in Mexico to be mined. It dates back to 1546, so it’s quite a historic area. Washinango, the local town, used to be the state capital of Mexico. The project is in area of Mexico that’s very safe—it’s not in the mountains, it’s on the main road. It was part of the federal mine reserve up until the late 80s. We staked it and since staking we’ve proved-up just under 26 million ounces and we’re expanding it through drilling as we speak.

“These results are basically infill drilling. We’d done a prior program where we hadn’t assayed the tops of the holes. So we went in and we’ve now assayed the tops of the holes down. Basically it’s part of our resource calculation that we’re carrying out. And I’m pretty happy with the results. Effectively we’re showing that in the tops of the holes there’s mineralization—there are some fairly decent values and widths in those calculations. We’re basically working on trying to bring the strip ratio down and we seem to have achieved that in this area of the deposit where we’ve drilled.

“For 2011 we want to try and move the resource to the next level. At this moment there’s basically the equivalent of a quarter million ounce deposit if you use the 50-to-1 gram ratio. I think it’s critical to get it to the next level—above the 50 million ounce level. So the drilling we’re doing now and the resource calculation are designed to do that. We’re in a fairly good silver market, so really we want to get it to the level where we can demonstrate that it’s economically viable.

“At the moment we haven’t made any production decisions. There is a property that is contiguous that has just gone into production, and we’ve had some discussions with them. And we’ve talked to different senior companies about becoming involved. So we haven’t made a production decision at this stage.” Thomson concludes, “We really have to get the ounce-count up to make that decision. But we’re working on it.”

View Company Profile

Contact:
Andrew Thomson
President/CEO
416.987.0722

by Ted Niles