Soltoro's equity/Royalty partner intercepts 2.90 metres of 499 GPT silver and 1.44 GPT gold from the El Tajo Vein at the Coyote project
Thursday, Nov 15, 2012
Soltoro Ltd. (TSX VENTURE:SOL) holds a total of 6,968,000 common shares of Argentum Silver Corp. (TSX VENTURE:ASL) and is completing the transfer of 100% of the mining rights to the Coyote property to Argentum Silver Corp. Upon transfer, Soltoro will retain a 3% Net Smelter Return ("N.S.R.") interest in Coyote whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2%.
Soltoro participates in discoveries and advancements at Coyote through its 15% equity holding in Argentum Silver and its retained 3% N.S.R. royalty interest in the Coyote property.
Argentum Silver has received complete results from the last 7 of 17 diamond drill holes recently completed during the Phase II drill program at its Coyote silver-gold property in Jalisco, Mexico. Of the 7 remaining holes to be fully reported, 4 tested the El Tajo vein and 3 tested the La Colorada vein northwest of El Tajo. Highlights from the last 7 drill holes include 3.70 metres of 179 g/t Ag not previously reported in Hole 2102-36 and 2.90 metres of 449 g/t Ag and 1.44 g/t Au in Hole 2012-42.
The El Tajo vein has been intercepted by drilling to depths ranging from 65.0 to 120.0 metres vertically from surface, over a strike length of 600 metres. The El Tajo drill intercepts to date range from 0.85 metres to 11.0 metres (11.0 metres of 288 g/t Ag from Hole 2012-28). Grades range from 31 g/t Ag to 1,470 g/t Ag (4.0 metres of 1,470 g/t Ag from Hole 2012-3). A separate sub-parallel hanging wall vein labeled Upper Tajo 2 has been intercepted over a strike length of 350 metres. Reported Upper Tajo 2 drill intercepts range from 0.35 metres to 2.5 metres (2.5 metres of 403 g/t Ag from Hole 2012-7). Grades range from 16 g/t Ag to 1,083 g/t Ag (0.85 metres of 1,083 g/t Ag from Hole 2012-29).
Andrew Thomson, President of Soltoro Ltd. stated, "On completion of the Phase II program, Argentum Silver has drill tested the El Tajo, La Colorada, Bocancha and La Florida veins over a total 3.1 kilometres strike length. An additional 3 kilometres of total strike length remains untested at the San Rafael, El Tajo Norte and the La Valenciana vein zones.
Further drilling will be carried out in the El Tajo mine area as it remains open at depth and along strike. A target deposit calculation is being completed for the El Tajo mine area."