Soltoro Ltd.
TSX VENTURE : SOL

Soltoro Ltd.

January 15, 2008 15:00 ET

Soltoro Completes Drill Program on Bacanora Gold Project

TORONTO, ONTARIO--(Marketwire - Jan. 15, 2008) - In the final quarter of 2007, Soltoro Ltd. (TSX VENTURE:SOL) carried out a 1,647 metre diamond drill program on its Bacanora gold project in Sonora state, Mexico. A total of seven drill holes were completed. Drilling was carried out to test for a bulk tonnage gold deposit as the possible source for numerous placer deposits that exist downstream along the Yaki River.

Several gold bearing felsic intrusive outcrops on surface were previously identified by Soltoro over a 1.6 by 1 kilometre area. Drilling during this initial phase was designed to test for mineralization below the felsic intrusives within the main zone. Drill holes 1 and 2 of the program were located within 10 metres of outcropping felsic intrusive and intercepted strongly silicified shale and limestone with a variable content of disseminated pyrite and/or pyrrhotite. Drill holes 3 and 4 were then drilled to the west where the thickness of the altered sediments was increasing. These encountered thicker intervals of the altered sediments seen in the first two holes while hole 5 cut a wide zone of silicified breccia with silicified shale and limestone clasts. Holes 4 and 5 encountered anomalous values of gold from 100 to 208 ppb. Drill holes 6 and 7 were targeted next to felsic intrusive outcrops to the north and south of the first two holes and also encountered shales and limestones.

Results to date have not served to identify the source of the placer deposits that occur downstream from the property. It is likely that there still remains a larger felsic body hosting gold veins and/or a sediment hosted source related to the extensive silica flooding intersected in this round of drilling. There is also the possibility of an intrusive source as suggested by the narrow intrusive breccia dikes found in holes 3 through 5. The Company is compiling the information collected to data and considering additional work programs.

A regional mapping and sampling program was resumed during the drill program to further investigate the potential of a mineralized ridge located on the north east end of the property. The prior program identified a 300 metre long strike length along the felsic dike. Assay results from the initial sampling program returned 1280 grams per tonne silver, 1.5% Zinc and 2.2% Cu. Assay results from the most recent sampling program are pending. Further work is warranted to investigate the silver potential of this area.

The diamond drill under contract has been moved from Bacanora to the La Tortuga copper gold porphyry project in Jalisco state, Mexico. La Tortuga is subject to a joint venture arrangement with SMM Exploration Corporation, a subsidiary of Sumitomo Metal Mining Co., Ltd, ("Sumitomo"). Drilling is scheduled to commence shortly. Sumitomo is one of Japan's largest copper smelting mining companies. Soltoro is acting as the operator for the joint venture until such time Sumitomo has earned it 51% interest.

Quality Control: Drilling on the Bacanora property is supervised by Vice-President of Exploration in Mexico, Chris Lloyd, M.Sc. and Mr. Philip Walford, P.Geo. Mr. Philip Walford is the Company's qualified person as defined by National Instrument 43-101 and has reviewed the contents of this press release.

Soltoro is a junior exploration company active in Mexico. The Company has 20,215,000 shares outstanding. The Company is exploring for bulk tonnage gold, silver and copper deposits in Mexico. Soltoro's shares trade on the TSX Venture Exchange under the symbol SOL.

On behalf of the board,

Andrew Thomson, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.

Contact Information

  • Soltoro Ltd.
    Andrew Thomson
    President
    (416) 987-0722
    Website: www.soltoro.com