Soltera Mining Corp secures the El Torno gold project for eight years
PR-Inside.com: 2016-10-24 21:12:28
Jujuy, Argentina – October 24, 2016 - Dr. Fabio Montanari, President and CEO of Soltera Mining Corp. (www.solteramining.com) is pleased to announce that Soltera has entered into an agreement with the El Torno mineral title holders. The agreement replaces all previous contracts and agreements and the main conclusions are that;
1) Both parties will seek potential investors and Soltera will provide the title owners with technical information,
2) The title owners will maintain the property and be compensated in the event of sale or development,
3) Soltera and the title holders will jointly negotiate with potential investors,
4) In the case of sale, the minimum price will be $4 million.
5) The agreement is for four years renewable by either party for an additional four years.
The El Torno property covers around 78 square kilometres of rolling country in the high Andes near the border with Bolivia. It contains a large gold-bearing quartz vein system that was worked underground by the Incas and Spanish conquistadores and has about 1 km of underground galleries which are now flooded. The geological setting is excellent for a large vein-style deposit as described in a 2016 independent technical report by SRK Consulting who recommended at least 24 diamond drill holes to 100 meters depth. In addition, Soltera surface and trench sampling showed some spectacular results, including a one and a half meter long sample with 375 g/t gold, and identified several specific areas where gold-bearing veins appear to be concentrated at the surface.
As shown by the SRK Consulting Independent Report, the property therefore has two targets: surface gold with the potential for very rapid production and much larger scale deep structurally controlled gold deposits.
Soltera will now contact potential investors and joint venture partners. Funding raised will be used to rapidly develop the near surface gold deposits with a view to providing both profitability and self-funding for the deeper exploration.
Safe Harbor Statement: Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Information or opinions in this document are presented solely for informative purposes and are not intended nor should be construed as investment advice. We encourage you to carefully review the Company with your investment advisor and verify any information that is important to your investment decision.
Soltera Mining Corp
3651 Lindell Rd, Siute D579, Las Vegas, NV 89103, USA,
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