Del Toro Commences Due Diligence Testing Program
Post# of 7
9:45a ET September 27, 2012 (GlobeNewswire)
Del Toro Silver Corp. (OTCBBTOR) ("Del Toro" or the "Company") is pleased to announce that, on September 20, 2012, the Company commenced a placer test program at the Natchez Pass Gold Property located in Pershing County, Nevada ("Property"). The Company currently holds an option to purchase up to 67.5% equity in the Property.
The first phase of the testing program will consist of bulk sampling of the placer gold deposit to better define the extent, location and grades of the potential resource. The Company expects to process approximately 1,000 to 3,000 cubic yards of material using a trommel and sluice recovery system. A 3-dimensional grid pattern will be designed to map the gold producing zones with their representative values over approximately 5 acres of the property and up to a depth of 35 feet, depending on the location and depth of the bedrock. Phase one of the testing is projected to take 4-6 weeks to complete and it is expected that the results will provide the company valuable geologic information necessary to determine the feasibility of a placer mining operation on the Property.
Company president Greg Painter states,"We are progressing quickly with the due diligence on the Property with the intent of closing on the option agreement based on a positive outcome. Early indicators from the limited material already processed have been very positive and we are excited about the ultimate placer gold potential. Upon completion of this phase of the test program, the Company will then initiate a sampling program on the extensive lode deposit(s) located on the property."