Eloro Resources (TSX.V: ELO)
Intersects 239.72 g Ag eq/t (39.58 g Ag/t, 1.04% Pb, 0.26% Cu and 0.20% Sn) over 82.74m in Southern Part of Santa Barbara Target at Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia.
Includes a higher-grade section of 318.15 g Ag eq/t (53.58 g Ag/t, 1.43 % Pb, 0.32 %Cu and 0.27 % Sn) over 51.09 m.
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Eloro Resources Tumi
Eloro Resources Intersects 239.72 g Ag eq/t (39.58 g Ag/t, 1.04% Pb, 0.26% Cu and 0.20% Sn) over 82.74m in Southern Part of Santa Barbara Target at Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
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TORONTO, Feb. 01, 2022 (GLOBE NEWSWIRE) – Eloro Resources Ltd.(TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM)(“Eloro”, or the “Company”) is pleased to announce further assay results from seven (7) additional diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.
Two (2) of these holes (DSBU-01 and DSBU-02) are underground holes drilled from the Santa Barbara adit. Three (3) of the holes tested the Central Breccia Pipe (“CBP”) target (DCN-06 and DCN-07 from the Central North radial drilling platform and DCS-04 from the south platform).
The final two (2) holes reported in this release tested the Porco Breccia Pipe (“PBP”) target.
- 134.47 g Ag eq/t (10.79 g Ag/t, and 0.15 %Sn) over 115.44m including a higher-grade section of 160.87 g Ag eq/t (9.65 g Ag/t, 0.21% Cu, and 0.17 %Sn) over 37.55min underground hole DSBU-02.
- Promising results from these holes across a well mineralized width of 200+mopens significant possibilities in the southern extension of the Santa Barbara target area where additional drilling is now planned.
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Underground Holes, Santa Barbara Mineral Resource Target Area
Underground holes DSBU-01, drilled due east at -10 degrees and DSBU-02, drilled due west at -20 degrees both intersected significant mineralization (Figures 1 and 2):
- 239.72 g Ag eq/t (39.58 g Ag/t, 1.04 %Pb, 0.26 %Cu and 0.20 %Sn) over 82.74mfrom 0.00 to 82.74m in Hole DSBU-01, including a higher-grade section of318.15 g Ag eq/t (53.58 g Ag/t, 1.43 % Pb, 0.32 %Cu and 0.27 %Sn) over 51.09min DSBU-01.
- 134.47 g Ag eq/t (10.79 g Ag/t, and 0.15 %Sn) over 115.44mfrom 1.50 to 116.94m in Hole DSBU-02, including a higher-grade section of160.87 g Ag eq/t (9.65 g Ag/t, 0.21% Cu, and 0.17 %Sn) over 37.55mfrom 25.50 to 63.05m.
- Hole DSBU-02 also had additional intersections of145.12 g Ag eq/t over 17.53mfrom 165.00 to 182.53m and395.12 g Ag eq/t over 18.0mfrom 300.20 to 318.20.
- The promising results from these holes across a well mineralized width of 200+m opens significant possibilities in the southern extension of the Santa Barbara target area where additional drilling is now planned.
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Central Breccia Pipe
DCN-06 and DCN-07, which completed the first pass drilling on the northern radial drilling platform testing the CBP, returned 14 and 21 reportable mineralized intervals, respectively, with the best results as follows:
- 104.05 g Ag eq/t (24.76 g Ag/t and 0.13% Sn) over 39.03mfrom 150.30m to 189.33m and226.19 g Ag eq/t (117.03 g Ag/t, 0.40 g Au/t and 0.11% Sn) over 4.47mfrom 539.40m to 543.78m in DCN-06 drilled due south at -80 degrees.
- 183.00 g Ag eq/t (133.05 g Ag/t and 0.49 g Au/t)over 8.99m from 132.93m to 141.92m,539.96 g Ag eq/t (222.00 g Ag/t and 0.41% Sn) over 1.42mfrom 324.94m to 326.36m and220.81 g Ag eq/t (9.54 g Ag/t, 0.13 g Au/t, 0.27% Cu and 0.25 % Sn) over 7.50mfrom 555.94m to 563.44m in DCN-07 drilled due west at -60 degrees.
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Eloro Resources management comments
“I am pleased to report that the return rate of sample results from our assay laboratories has improved significantly after the Christmas holidays, and we are hopeful that most of our backlog will be cleared up within the next month to 6 weeks.
“This will allow us to remain on schedule to deliver the initial NI 43-101 compliant mineral resource estimate in Q2 2022. Of note, it has been approximately one year since the Company reported the discovery of high grade mineralization in hole DHK-15, which intersected 257.5m grading 129.6 g Ag eq/t in the Santa Barbara Breccia Pipe.
“The new results reported in this release from the underground drilling in the Santa Barbara target area of significant high-grade mineralization, which include more than a 200m width, opens up significant opportunities in the southern part of this major target area. This emphasizes the immensity of the Santa Barbara Breccia Pipe complex, which is still only a subset of the overall Iska Iska silver-tin polymetallic system.”
Tom Larsen, CEO of Eloro Resources
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“We continue to get excellent drill results. More drilling is planned in the southern part of the Santa Barbara target zone.
“In addition, we are planning downhole IP surveys on the bore holes in the Central and Porco target areas to define vectors to more strongly mineralized areas.
“The intersections obtained in these initial reconnaissance holes although too shallow based on the magnetic susceptibility model, suggest that there is potential for significant discoveries deeper in these major target areas which will be drill-tested.
“The secondary caldera recently identified by Dr. Osvaldo Arce’s geological team in the southeast part of the property appears to overprint the main Iska Iska caldera. The high-grade Ag-Zn-Pb intersection in Hole DPC-03 is suggestive of the possibility that this may be higher level mineralization associated with this later caldera.
“Mapping and channel sampling is currently in progress in underground workings at Mina 2 and San Juan with reconnaissance exploration holes planned in these target areas to test this possibility.”
Dr. Bill Pearson, P.Geo., Eloro’s Executive Vice President Exploration
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For brevity, this summary has been redacted, to read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Eloro bought in the market at the prevailing price on the day of purchase.
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