Del Toro Expands Josefina Target at Dos Naciones VANCOUVER, BC, Oct 26, 2010 (MARKETWIRE via COMTEX) --
DEL TORO SILVER CORP. Suite 400 - 409 Granville Street Vancouver, BC, V6C 1T2 Telephone: (604) 678-2531 Trading Symbol OTCBB: DTOR
Vancouver, British Columbia (October 26th, 2010) - Del Toro Silver Corp. /quotes/comstock/11k!dtor (DTOR 0.23, +0.01, +4.55%) ("Del Toro" or the "Company") is pleased to announce they have expanded the Josefina target at Dos Naciones (the "Property"). Fieldwork completed by the Company was successful in identifying multiple new exposures of veins as well as a historic working that was previously unknown.
The Josefina target now consists of a series of at least six sub-parallel veins with the core of the silver/lead system having been traced along surface for approximately 600 meters along strike and over 250 meters wide. Highlights from the 38 samples submitted are channel chip samples from the interior of the Josefina working returning 129g/t silver with 5.23% lead over 1.0 meters and 105g/t silver with 4.21% lead over 0.50 meters.
Del Toro is currently completing an ASTER (Satellite Imaging) study on the Dos Naciones property and surrounding mines. The Company will be continuing its field work consisting of detailed geological mapping, trenching, sampling and prospecting towards identifying drill targets.
Ian Foreman, P.Geo, is a Qualified Person as defined by National Instrument 43-101. He is responsible for monitoring, supervision and quality control of Del Toro's exploration programs at Dos Naciones and has reviewed and verified the technical information contained in this news release.
About Del Toro Silver Corp.
Del Toro Silver is a dynamic exploration company focused on mining exploration of base and precious metal deposits in northern Mexico. The Company's Dos Naciones property is NI43-101 compliant with historic production in numerous areas. The Company continues to advance past work completed by the previous owner, Penoles, to further its Phase I drill program.
On behalf of the Board of directors,
"Mark A. McLeary" President/CEO
Forward Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the United States Securities and Exchange Commission (the "SEC") (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Such risks and uncertainties may include, but are not limited to, the risks and uncertainties set forth in the Company's filings with the SEC, such as the ability to obtain additional financing, the ability to manage growth, acquisitions of technology, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Del Toro Silver Corp. via Thomson Reuters ONE
For further information, please contact Mark McLeary 604-678-2531.
SOURCE: Del Toro Silver Corp
Additional Investment Highlights
1. Massive Multi-Billion Dollar Market Opportunity
The global precious metals & minerals market generated total revenues of over thirty two BILLION in 2009, representing a compound annual growth rate of 4.4% for the period spanning 2005-09. The silver segment contributed revenues of about ten billion dollars in 2009, equating to 31.1% of the market's aggregate revenues. The performance of the market is forecast to accelerate, with an anticipated compounded annual growth rate of 13.7% for the five year period 2009-14. These factors are expected to drive the market to a value of $61.4 billion by the end of 2014.
The Mexican metals & mining market had total revenue of over twenty one billion dollars in 2009. Mexico accounts for 7.9% of the Americas metals & mining industry value. Sales of precious metals & minerals generated revenues of three-and-a-half billion dollars in 2009, equating to 16.7% of the market's aggregate revenues. The performance of the market is forecast to accelerate, with an anticipated compounded annual growth rate of 10.6% for the five year period 2009-14, which is expected to drive the market to a value of thirty five billion dollars by the end of 2014.
2. Successful Management has Strong Technical & Geological Skills
DTOR's strong and experienced management could be another key element to DTOR’s success.
(a) Mark McLeary - the President & CEO - is a Chartered Financial Planner and Certified Financial Planner (CFP) and a member of the Financial Planners Standards Council of Canada, Mr. McLeary founded Med-Tech Solutions, Inc. In 2007 he completed an acquisition of Four Rivers Bio Energy (OTCBB : FRBE) where he helped raise $28 million and had a corporate market cap of $130 million.
(b) Recently, Del Toro appointed Mr. Rick Tschauder, P. Geo, as a director of the Company. Mr. Tschauder is the VP and COO of Bueno de Oro, Inc., a private geological management company specializing in project management services in Mexico. Mr. Tschauder has over 30 years of mining and exploration experience. He was the former chief geologist of Hecla Mining for 15 years where he was instrumental in the development of the Golden Promise deposit. He has been an independent consultant, publishing over 25 articles on mining and economic geology together with serving a Director-General for several Mexican subsidiary companies.
3. Increased Stock Valuation via Beneficial Restructuring
DTOR has entered into an Amendment Agreement with Yale Resources Ltd. under the terms of the which Yale has agreed to waive the condition in the original option agreement that required the completion of $150,000 of expenditures on the Dos Naciones property by July 7, 2010 in consideration of the Company issuing an additional 150,000 shares of its common stock to Yale. This is a positive for the Company as it eliminates the need for cash payment and also gives us an idea of what the stock could be worth.
Based upon the restructuring, we could indirectly conclude that Yale could value the stock price to be $1...which is a significant premium from the current market price of $0.23.
DTOR is one of the few - if not only - junior mining companies working in this mineral-rich region that has produced extensive amounts of highly valuable precious metals...
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DTOR: Second Property that is Poised to Increase Shareholder Value DTOR has LOI with Yale Resources, Ltd. for 70% of the Orifino property in Sonora, Mexico, which has proven holes, and good exploration potential. The property is located 135 km southeast of Hermosillo, Sonora State and has gold and silver deposits. The Property consists of 17 concessions totaling 8,291 hectares. In the early 1990's Minera Teck S.A. de C.V. completed over 6,000 meters of reverse circulation drilling producing highlighted results of 3.89 g/t gold over 8 meters true width and 2.54 g/t gold and 71.3 g/t over 7.6 meters; and channel chip samples of highly altered rock reported to have assays of over 50g/t gold.
There are currently 10 known mineralized targets and two strong silica, iron-oxide anomalies defined on the Property. Small scale historic production from the Orofino open pit during the mid 1990's produced a reported 60,000 tonnes of ore grading approximately 7 grams per tonne gold.
Currently, geological consultants are conducting mapping and sampling on the property.
Management believes this property could deliver substantial gold and silver in the coming years and lead to significant shareholder value in the coming years.