Eloro Resources (TSX: ELO)
Announced the first assay results from five (5) of the drill holes in its eleven hole 5,267.7m definition drill program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia.
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| Eloro Resources | TSX : ELO |
| Stage | Exploration |
| Metals | Silver, tin, lead |
| Market cap | C$157 m @ C$2.05 |
| Location | Potosi, Bolivia |
Eloro Resources Intersects 279.22 g Ag/t, 0.47% Pb and 0.43% Sn (339.82g Ag eq/t) over 62.84m in Definition Drilling at the Iska Iska Project, Potosi Department, Southwestern Bolivia
TORONTO, Dec. 18, 2023 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM)(“Eloro”, or the “Company”) is pleased to announce the first assay results from five (5) of the drill holes in itseleven (11) hole 5,267.7m definition drill program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia.
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- Hole DSB-61 returned other well mineralized intersections as follows:
- 33.83 g Ag/t, 1.53% Zn, 0.93% Pb and 0.14% Sn (130.88g Ag eq/t) over 178.99m including 120.37 g Ag/t, 2.13% Zn, 1.57% Pb and 0.19% Sn (252.19g Ag eq/t) over 18.25m,175.23 g Ag/t, 2.44% Zn, 0.56% Pb and 0.12% Sn (275.45g Ag eq/t) over 9.11m and 17.03 g Ag/t, 4.13% Zn, 1.30% Pb and 0.15% Sn (217.71g Ag eq/t) over 19.48mm
- These latest drill hole results are most encouraging as they are demonstratingbsubstantive higher-grade intervals, especially for silver, in the potential starter pit mineral resource area that may now be potentially upgraded and expanded.
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Tom Larsen, CEO of Eloro commented:
“These latest drill hole results are very encouraging. They demonstrate substantive higher-grade intervals, especially for silver, in the potential starter pit mineral resource area that may now be potentially upgraded and expanded.
“Significant tin is present in several holes with grades up to 0.5 percent, highlighting the chances to expand and increase the grade of the tin resource which is a high priority exploration target in 2024.
“As we expected, the higher-grade silver and tin intercepts from this definition drill program are demonstrating selective higher-grade metal zonation within the starter pit area and the Tin (Sn-Ag-Pb) Domain.
“We expect to release results from the six (6) remaining definition drill holes in the first part of January 2024, concluding our first phase infill definition drilling program aimed to enhance grade and expand tonnage in the Santa Barbara starter pit area.”
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Dr. Bill Pearson, P.Geo. Executive Vice President, Exploration said:
“The bulk of mineralization at Iska Iska, especially the high-grade Ag zones, occur within veins, vein breccias and veinlets that overall have a general west-northwest trend (300o).
“Channel sampling of a typical high-grade structure in the Santa Barbara adit (see Eloro press release dated April 21, 2021) returned 165 g Ag/t, 3.46% Pb and 0.46% Sn (310.25g Ag eq/t) over 166m which included a very high-grade section of 446 g Ag/t, 9.03% Pb and 1.16% Sn (817.38g Ag eq/t) over 56.19m.
“This gives an excellent indication of the potential strike length of these high-grade Ag structures, as well as the potential for bonanza-type grades in them. Closer spaced drilling as expected, provides a better definition of these important mineralized structures, especially those with higher grade silver, which has the potential to increase the overall resource grade as well as expand resource tonnage.
“Work is continuing on the “ore-sorting” tests with metallurgical work on the concentrate samples produced at TOMRA in Germany being completed at Wardell Armstrong in Cornwall.
“In addition, our geophysicists are processing new IP data which will provide important information on potential extensions of the remarkable Iska Iska mineralizing system.”
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Eloro Resources.
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