Soltera Mining Corp. (OTCBB:SLTA) is a junior exploration company concentrating on gold and base metal properties in Argentina, Mexico, and Canada. Soltera has a “multi-billion dollar inferred gold and copper resource” and yet a market cap of only $35 million. Unlike most junior mining companies, Soltera is debt free and has excess cash of $600,000.
Soltera’s flagship El Torno property is located in the Jujuy province of Argentina, near the border with Bolivia. It is well known in the mining industry that Argentina holds tremendous potential as a resource for metals. It has yet to be explored extensively, and yet vast deposits have already been found. Based on historical drilling, trenching and sampling of Soltera’s El Torno property, it contains an inferred gold source of between 500,000 and 2 million ounces of gold near the surface. Surface deposits greatly reduce mining costs. This property is located adjacent to Yamana Gold’s (AUY) nearly 3-million-ounce deposit, and in the area where Newmont Mining (NEM) has also begun gold exploration.
Soltera also has other properties in the pipeline. In Argentina, they have a copper project with a resource estimate of 50-60 million tons at 1% copper. They recently added two past-producing gold properties in the Sonora state of Mexico with potential for more than 1 million ounces of gold centered on two old mines. In Canada, they have two claims located near Atlin, British Columbia. This area is being intensively explored for gold, tungsten, molybdenum and other metals.
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