April 4, 2011 (Investorideas.com mining stocks newswire) - www.InvestorIdeas.com, a leader in investor research in multiple sectors including gold and mining stocks publishes the following corporate update issued by Soltera Mining Corp. (OTCPK:SLTA, FRANKFURT: SN7).
Soltera Mining Corp. (OTCPK:SLTA, FRANKFURT: SN7). CORPORATE UPDATE
Soltera Mining Corp. (SLTA) has filed an 8K with the SEC regarding further funds coming to the Company from Goldlake Italia S.p.A.
Read the filing in full here: http://1.usa.gov/egfwSN
Summary of 8K:
On March 15, 2011, the Board of Directors authorized the issuance of 999,550 restricted units at a subscription price of $0.10 per restricted unit pursuant to the terms and conditions of the Financing Agreement with Goldlake Italia S.p.A. Each restricted unit consisted of one restricted shares of common stock in the capital of Soltera and one non-transferable share purchase warrants. Each restricted whole warrant enabled the holder to purchase two additional restricted shares of common stock in the capital of Soltera at a price of $0.15 per restricted share for a period of two years exercisable from September 15, 2011 to March 14, 2013.
Goldlake still have the option of exercising the balance of US$900,000 under the terms of the Financing Agreement signed on June 9, 2010.
Concerning the sampling program of late last year, the surface rock chip and channel samples were initially prepared in the field and then sent to an internationally recognized Australian/Canadian laboratory in December with operative office also in Argentina. At the laboratory, they were divided into groups and split into different sieve size fractions, with some fractions being crushed and ground. All the fractions will be analyzed with a view to optimizing processing plant configuration. Some analyses are being carried out at a laboratory in Peru and some at a specialized laboratory in Canada. This whole process has to be done with care and takes longer than standard gold assays.
Fabio Montanari
President & CEO
Soltera Mining Corp.
phone: 1-888-768-5552
info@solteramining.com
www.solteramining.com
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.
Investors can view the mining company profile for Soltera Mining Corp. at http://www.investorideas.com/CO/SLTA/
Soltera Mining Corp. (OTCPK: SLTA) is a gold exploration company concentrating on its large-scale El Torno Gold Project in the Province of Jujuy in north-west Argentina. Soltera is an unusual exploration company in the sense that it is following two distinct lines of action: the first is to explore potentially large vein and dispersed gold deposits that occur within the 78 km2 title area; while the second is to develop the easily exploited and substantial surficial gold deposits that have formed by weathering of the underlying gold-bearing bed rocks.
Visit the company website at http://www.solteramining.com/
Properties Page:http://www.solteramining.com/index.php?option=com_content&task=view&id=19&Itemid=74
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1 comment:
Short compilation video of Soltera Mining's 2010 eluvial gold production test run at El Torno. Short-term small scale production was planned and tested when exploration funding was hard to secure (2008-2010). With El Torno exploration now funded Soltera is focused on defining major vein and off-vein gold targets http://youtu.be/yUud1G8gOwo
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