Eloro Resources (TSX.V: ELO)
Announced assay results from two additional diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.
Hole DSBU-10 Intersected 188.64 g Ag eq/t (44.75 g Ag/t, 0.08 g Au/t, 1.05% Zn, 0.76% Pb and 0.14% Sn) over 349.08m.
|Eloro Resources||TSX.v : ELO|
|Metals||Silver, tin, lead|
|Market cap||C$246 m @ C$3.65|
TORONTO, July 21, 2022 (GLOBE NEWSWIRE) – Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from two (2) additional diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.
Hole DSBU-10 is an underground hole drilled at azimuth 400 at -600 dip across the higher-grade feeder zone. Hole DHK-24 is a surface drill hole collared near Huayra Kasa approximately 100m SE of Hole DSBU-10 and drilled to the SW at -600.
Four drills including three surface drills and one underground drill are focussed on completing drilling in the Santa Barbara Resource Definition Drilling Area. A fourth surface drill has been added to further expand drilling capacity.
Overall, the Company has completed 64,573m in 102 drill holes to-date at Iska Iska, including four holes in progress. Prices used for calculating Ag equivalent grades have been updated to current metal prices as noted below.
Highlights are as follows:
Santa Barbara Mineral Resource Definition Target Area – Surface Drilling
Significant results are as follows:
- 188.64 g Ag eq/t (44.75 g Ag/t, 0.08 g Au/t, 1.05% Zn, 0.76% Pb and 0.14% Sn) over 349.08m from 0.0 to 349.08m in underground hole DSBU-10 in the core of feeder zone in the Santa Barbara Target Area
- Notably, 59% of the overall length of this 878.9m long hole yielded reportable intersections which collectively average 160.14 g Ag eq/t.
- Hole DHK-24, collared at surface near Huayra Kasa approximately 100m SE of Hole DSBU-10 and drilled to the SW at -600 intersected multiple intersections including;
- 114.62 g Ag/t (17.89 g Ag/t, 0.04 g Au/t, 1.58% Zn, 0.62% Pb and 0.05% Sn) over 112.91m from 22.01 to 134.92m, including a higher-grade portion of 226.05 g Ag/t (26.25 g Ag/t, 2.74% Zn and 0.95% Pb) over 52.86m from 64.12m to 116.98m
- 84.31 g Ag eq/t (2.61 g Ag/t, 0.10 g Au/t, 1.22% Zn and 0.21% Pb) over 162.48m from 143.88 to 306.36m
- 120.0 g Ag eq/t (5.51 g Ag/t, 0.09 g Au/t, 1.71 %Zn and 0.34%Pb) over 65.73m from 395.30m to 461.03m including a higher-grade portion of 299.92 g Ag eq/t (17.19 g Ag/t, 0.31 g Au/t, 4.34% Zn and 0.59% Pb) over 17.06m from 414.84 to 431.90m.
Tom Larsen, CEO of Eloro said:
“These are the best drilling results to date at Iska Iska, even with the discounted metal prices being quoted in comparison to higher values used for previous silver equivalent drill hole results.
“The significance of DSBU-10 and DHK-24 both drilled at -60 degrees further strengthens our geological belief that there is major tonnage potential in this feeder system that further expands the already extensive initial Santa Barbara mineral resource definition target area currently being drilled.”
Dr. Bill Pearson, Eloro’s Executive Vice President, Exploration commented:
“We continue to get impressive results from the higher-grade feeder zone at Santa Barbara. Based on geological and geophysical evidence, it appears that this feeder zone may extend much further to the SE across the centre of the Iska Iska Caldera.
“We are currently completing addition drill holes to test this possibility and have added an additional drill to further accelerate the program.”
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