Soltoro hits more high-grade silver in new zone

Vancouver – Soltoro (SOL-V) has released several high-grade silver hits from its El Rayo project in central Mexico a week after reporting a bulk tonnage resource estimate on the project.

The latest results from the 100-sq.-km project in Jalisco State come from the east-west trending Soledad structure that was unknown when the resource study was prepared. So far Soltoro has intersected the structure over a strike length of 500 metres while it is still open along strike in both directions and at depth.

Drill hole 66 returned 43.7 metres grading 222 grams silver per tonne from 19 metres depth, hole 68 cut also cut 43.7 metres but grading 300 grams silver from 51 metres downhole, hole 69 hit 53.7 metres averaging 115 grams silver from 67 metres depth and hole 73 intersected 33.5 metres grading 198 grams silver from 36 metres.

Intersections included several short but very high-grade hits such as 1 metre carrying 2,910 grams silver and 1.2 metres averaging 1,170 grams silver, which were cut to 1,000 grams silver. The first drill results on Soledad, released on April 20, included 7 metres grading 1,010 grams silver.

Soltoro is now using one drill rig to test the structure along strike and a second to test its depth potential.

The Soledad structure looks to abut perpendicularly the south end of the northeast trending Las Bolas deposit, which was part of a recent resource estimate, but Soltoro’s recent geological mapping of the area indicates that Soledad lies within a distinct zone of structural deformation and quartz vein brecciation.

The Las Bolas mineralized zone, consisting of a tabular body of a silver-bearing hematite-quartz vein breccia roughly 40 metres thick, is instead thought to extend into the Highway Zone that has been offset to the east along a west-northwest-trending fault. It was these two targets that were the subject of the recent resource estimate.

Combined, the two targets are estimated to contain 33.6 million measured and indicated tonnes grading 54 grams silver for 58.3 million contained oz. silver. The inferred resource, encompassing only the Highway Zone, stands at 200,000 tonnes grading 44.3 grams silver.

Soltoro is also drilling 2,000 metres on its 14.2-sq.-km Chinpas gold property in Mexico’s Chihuahua State. The company reports that gold mineralization at the project occurs in sheeted quartz-tourmaline-pyrite veins and veinlets hosted by a strongly fractured quartz-feldspar porphyry.

Soltoro’s share price was up 6¢ or 7.3% to 88¢ on the latest drill results. The company has a 52-week share price between 17¢ and $1.29 and 49.4 million shares outstanding.