Soltera Mining Corp.: Geochemical Results Confirm and Increase Major Gold Anomalous Zones at El Torno, Argentina
2009-03-31 09:15 ET - News Release
JUJUY, ARGENTINA -- (MARKET WIRE) -- 03/31/09
Dr. Fabio Montanari, President and CEO of Soltera Mining Corp. (PINK SHEETS: SLTA)(FRANKFURT: SN7), is pleased to announce that the results of a detailed geochemical survey at El Torno, Soltera's flagship gold property in Argentina, are now available.
El Torno is located in the Andean Cordillera near the international border with Bolivia. The property, which covers approximately 79 square kilometers, contains a set of very large gold-bearing quartz veins that extend intermittently for at least 14 km north-south within metamorphosed sedimentary rocks of Ordovician age.
The central parts of the western vein system have been worked since the Inca Period and there are more than 1,000 m of underground galleries. 2,100 m of drilling in 1997 showed that a 2 m thick zone on the west side of the vein carries up to 37 gpt (grams per tonne) gold and suggested that there is potential for several million ounces along the full length of the vein. Samples of country rock some distance from the main vein have also shown up to 112 gpt gold (historical results not NI 43-101 compliant).
Soltera has carried out two gold geochemical surveys. The first was reconnaissance and consisted of 596 stream sediment samples that covered about 100 square kilometers. The results showed a series of anomalies extending the full 14 km length of the vein system together with several broad anomalies in the country rocks up to 2 km away from the main vein. This survey was reported in an April 2008 press release.
The second focused on the anomalies identified by the first survey and consisted of around 1,000 samples covering an area of about 15 square kilometers. The results were excellent and confirmed the presence of a major gold anomalous zone about 5 km north-south and up to almost 2 km wide centered on the vein system but extending well beyond the vein into the country rocks on either side. There is also a separate anomalous area of about one square kilometer located about 1 km east of the main vein in the south.
These well structured and strong anomalies suggest that gold is dispersed in zones throughout the country rocks around the vein system and they form precise and important exploration targets for possible open-pit mineralization. In this respect, they differ from the vein mineralization where the target is gold-rich quartz veins which would require underground mining. Both types of target are large-scale.
The next step is to carry out a two-pronged exploration program on both the geochemical anomalies and the main vein system. The geochemical anomalies will be tested by a limited geophysical survey, surface sampling and trenching, and shallow drilling. The vein system will be tested also by a geophysical program, followed by mapping of the old gold workings and a limited program of diamond drilling.
Soltera is currently in the process of raising funding to carry out these programs.
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SOLTERA MINING CORP
OTCBB:SLTA
www.solteramining.com
SLTA- WE BELIEVE THIS STOCK WILL MOVE AS INVESTORS GET OUT OF THE FINANCIAL STOCKS AND JUMP INTO PRECIOUS METALS
BULLET POINTS
" A DOZEN REASONS TO BUY SLTA.OB STOCK -What sets SLTA apart from the pack "
1.) MULTIPLE, FIRST CLASS PROPERTIES IN POLITICALLY STABLE COUNTRIES:
i.) El Torno property in Argentina - 7,800 hectares along a 14km strike zone. Based on historical drilling (2,100 m), trenching and sampling, contains an inferred gold resource of between 500,000 and 2,000,000+ ounces of gold, near surface. The fact that this resource is close to surface, will significantly reduce the cost to mine it.
ii.) Eureka property in Argentina - 10,000 hectares. Based on extensive historical sampling, trenching, test pits and underground workings, contains an inferred copper-gold resource of 50 to 60 million tons of 1% copper with alluvial gold mineralization.
iii.) Sonora State properties in Mexico - 1,150 hectares. Based on historical mining, contains an inferred gold resource of 500,000+ ounces of gold.
2.) MULTI BILLION DOLLAR RESERVES, DEBT FREE W/POSITIVE CASH FLOW:
Soltera has a "multi billion dollar inferred gold and copper resource" with both commodities being near their record highs and showing no signs of slowing down.
Soltera's current market capitalization is approximately $33M.
Unlike most junior mining companies, the SLTA has an excess of $600,000 in cash and is debt free.
3.) GOLD IS ON A BULL RUN.
Gold is on a Bull Run, and has been going up in price almost daily. It still has a long way to go before it reaches the levels it reached in 1980, where in current dollar value touched around $2,000.00 an ounce.
If gold continues to rise, it could well be expected to take SLTA's stock with it.
4.) LEVEL OF EXPERTISE/ FIRST CLASS TALENT:
President and CEO, Dr. Fabio Montanari, is a seasoned mining professional whose text books are currently used by a number of universities in their graduate mining programs. He has relocated from his homeland of Italy to the area of Soltera's prized El Torno and Eureka gold and copper projects in Argentina to ensure their success and maximize shareholder value.
Director, Dr. Kevan L. Ashworth, is internationally renowned for his extensive knowledge and background in the mining industry and has been a director of a number of notable mining exploration companies. He is also retained as an advisor by several London investment firms.
5.) REGIONAL PLAY, HIGHLY PROLIFIC:
The Argentina properties are located just north of Yamana Gold Inc.'s (NYSE:AUY / TSX:YRI $15.04 per share) 2.9M ounce gold deposit and in the same highly prolific region of northwestern Argentina where Newmont Mining Corp. (NYSE:NEM $46.56 per share) has recently announced gold exploration.
6.) AWAITING RESULTS/NEWS:
Soltera is presently awaiting analytical results from geochemical assays at El Torno. These results will be combined with trenching and geophysical surveys almost completed, to define an aggressive drill program for the 2nd quarter of 2008. If results come back as anticipated, news could push this stock price up considerably.
It is a fact that most small cap, junior exploration mining companies' stocks are much dependant on positive news to increase their share value.-THESE AWAITED RESULTS MAY PROVE TO BE GREAT NEWS FOR PRE-NEWS INVESTORS.
7.) FUTURE ENDEAVOURS:
It is Soltera's strategic plan to continue to prove mineral rich resources on their existing properties, and to continue acquiring other economically friendly, mineral rich properties for potential development.
8.) PAST PROVEN RESULTS:
All of Soltera's properties were worked at some point by Penoles Minerals from which most of the inferred resource data came from. Penoles Minerals discovered and now operates: Fresnillo - the world's richest silver mine; La Cienega - Mexico's richest gold mine; and La Herradura - Mexico's largest gold mine. *Therefore, if Penoles (one of the world's largest mining companies) was motivated enough to spend all this money proving SLTA's current properties, when gold was around $250.00 an ounce, we feel they may be a pretty safe bet now that gold is hovering around $1000.00 an ounce. -This opportunity is HUGE !!!
9.) THE SAFE HAVEN OF GOLD.
Gold is traditionally a 'safe haven' for investors in times of trouble, and tends to keep its value better than most currencies over time. As Alan Geenspan said when he was Chairman of the Federal Reserve Board of the United States of America, "Gold still represents the ultimate form of payment in the world."
10.) DEMAND IN ASIA.
For cultural reasons, demand for gold in Asia (in particular in the high-growth economies of China and India) looks strong, and set to continue. But global gold supply does not look like it will keep pace due to the lack of investment in exploration and mine development in the 90's, when gold prices were much lower. These are ideal conditions to push the price higher.
11.) PRIME CANDIDATE FOR POTENTIAL BUYOUT:
Due to the massive scale, and proven reserves of Soltera's properties, SLTA qualifies as a prime candidate to possibly be bought out by one of the majors.
The fact that their properties geographically lie adjacent to some of the world's richest mining companies, makes them a prime candidate for a major buyout. NOTE: It would strategically make sense for SLTA to raise as much investor awareness as possible, in order to get their share price up prior to a buy-out. -This may also prove to be great incentive to early investors.
Generally a buyout, on its own, can cause huge upswings for the stock, paying huge returns.
12.)TIMING IS EVERYTHING - SLTA's STOCK IS POISED TO TAKE A HUGE RUN ANY DAY !!!
