CARSON CITY, Nev., Sept. 27, 2012 (GLOBE NEWSWIRE) -- Del Toro Silver Corp. (OTCBB:DTOR) ("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."
About Del Toro Silver Corp.
Del Toro Silver Corp. is a precious metals exploration and development company based in Carson City, Nevada. Under new management since September 2011, Del Toro's corporate strategy is to focus on the acquisition and development of high grade, near term production gold properties in California and elsewhere in the Western United States. Management believes that this promising niche market offers many opportunities that have been largely ignored or overlooked by competing junior gold companies.
For further information, please contact Greg Painter at 775-782-3999.
On behalf of the Board of directors,
"Patrick A. Fagen"
Director
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the successful completion of due diligence, the completion of the bulk sampling program and a mining plan on the Property, the satisfaction of any of the conditions under the Option Agreement, the existence of commercially viable deposits on the Property, or any future production that may be achieved.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume 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. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the 2011 fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.