PRZOOM - /newswire/ -
New York, NY, United States, 2008/01/14 - Precious Metals Review of Soltera Mining by gold and silver mining expert, journalist David Bond. The regular Kitco contributor and award winning journalist makes a compelling case for being long Soltera Mining Corp. (OTCBB: SLTA).
Precious Metals Review of Soltera Mining Inc. (OTCBB:SLTA) provides insight into the opportunity afforded investors as Soltera focuses on moving forward on the gold-rich El Torno project in the NW Argentina. This exciting exploration venture is the subject of a recently published article by regular Kitco contributor, gold and silver mining expert, journalist David Bond. Precious Metals Review has published a synopsis of the article and provides full text of the aforementioned subject article.
David Bond has a well informed pro precious metals readership at SilverMiners.com and Wallace Street Journal. He is based out of Idaho. David Bond completed a site visit to Soltera's El Torno project and provides a compelling reason to be long SLTA.
Excerpts: "$380 million worth of gold for $21 million. At 50 cents a share, seems like a no-brainer to us. ... Soltera became publicly traded on the OTC:BB as SLTA in mid-2007 and currently stands with 42.5 million shares outstanding (26.5 million of which are restricted at the moment). In this current crazy market milieu, Soltera currently can be had for a niggardly 50 cents. Which puts Soltera, with a market cap of a measly $21 million or so, in charge of at least $380 million worth of Argentine gold."
"Puma drilled out, and Penoles subsequently inferred, a resource of de minimus 500,000 ounces of gold (historic non 43-101 numbers), accompanied by silver in a 1:1 ratio, based on a quartz vein system measuring 1.3 km in length and 100 meters in depth, with assays averaging 23 grams/tonne. Penoles further inferred that the vein, which is open at strike and depth, could run as long as 2.5 km and extend as deep 400 meters with the potential for more than 2 million ounces of gold. Grab samples have run as high as 130 grams/tonne disseminated Au in the quartz".
"The El Torno property which we toured with Soltera President and CEO Dr. Fabio Montanari (along with our favourite Swiss, Georg Stangel of Stein-am-Rhein), was sporadically surface-mined by the Incas, then the Spanish and the Jesuits after the New World was discovered by Old Europe, mostly for small nuggets by trenching. A 750-meter adit was driven onto the property by previous explorers, which we explored with the aid of carbide lamps - everybody in Wallace has a carbide lamp on his mantel or on a book shelf, but this was the first time we'd ever actually used one..." See above URL for full article copy and review.