Eloro Resources (TSX: ELO)
Announced assay results from reconnaissance drilling on the Mina Casiterita Property , additional definition drilling on the eastern margin and southern extension of the Santa Barbara deposit and reconnaissance drilling in the Porco-Mina 2 area.
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| Eloro Resources | TSX : ELO |
| Stage | Exploration |
| Metals | Silver, tin, lead |
| Market cap | C$246 m @ C$3.65 |
| Location | Potosi, Bolivia |
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Eloro Resources intersects Significant Tin Mineralization (0.17% Sn over 52.75m) in Mina Casiterita Property and also Receives Strong Results from Infill Holes at Santa Barbara Deposit, Potosi Department, Bolivia
- Tin mineralization at Casiterita is located 2km southwest of the Santa Barbara deposit indicating that the overall Iska Iska mineralizing system is much more extensive, as predicted from geophysical data. Further drilling is required to fully evaluate this prospective target area.
Tom Larsen, CEO of Eloro, said:
“We are encouraged by the initial drilling results from Mina Casiterita, especially considering the reconnaissance nature of the drill program.
“The grade and width intersected in hole DCT-03, considering the recently reported positive “ore-sorting” results (see Eloro press release dated July 26, 2023), is attractive particularly with the higher-grade sections.
“Continued diamond drilling is being delayed pending the finalization of the granting of the mining rights process for the Mina Casiterita and Mina Hoyada properties (“Additional Properties”), through the signing of Administrative Mining Contracts between the regional Jurisdictional Administrative Mining Authority in Bolivia and the Additional Properties Title Holder, from whom the properties are being acquired.”
“Upon completion of this internal process within the Bolivian mining regulator AJAM, Eloro’s Bolivian subsidiary, Minera Tupiza S.R.L. will consolidate its one hundred percent (100%) participation in the Additional Properties, pursuant to its option agreement with the vendor. In connection with this transaction, 200,000 common shares of Eloro will be issued to acquire the capital quotas of the Additional Properties Title Holder (see Eloro press release dated November 22, 2022).”
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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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