Mining Review 24th December 2023

Two major announcements by companies on our watchlist list up a normally quiet final week before Christmas.

Galiano Gold acquired the other 45% of the Asanko mine in Ghana from their JV partner, and Calidus Resources announced a stunning deal to acquire the Nullagine mine and immediately lease out 80% of the camp for 10 years bringing in much needed cash to the company.

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City Investors Circle Mining Review 24th December 2023

Two major announcements by companies on our watchlist list up a normally quiet final week before Christmas.

Galiano Gold acquired the other 45% of the Asanko mine in Ghana from their JV partner, and Calidus Resources announced a stunning deal to acquire the Nullagine mine and immediately lease out 80% of the camp for 10 years bringing in much needed cash to the company.

In addition, both Eloro and Wesdome reported high grade drill intercepts at their respective projects in Bolivia and Canada respectively.

There was one item of bad news, which  predictably came from Orla Mining who informed the market that the Panamanian governement were cancelling their rights to mine their Cerro de Quema copper gold project, following on from their similar actiona against First Quantum, closing their producing copper mine there.

Orla and First Quantum have both promised legal action via intenational courts, but this process takes years and does not have a certain outcome.

Orla now need to focus on South Railroad in Nevada whilst the Panamanian issue is addresses legally.

Click on the links below to read the full stories.

  Galiano Gold Consolidates Ownership of the Asanko Gold Mine

  Calidus Enhances Cash Position and Production Upside With Purchase of     Nullagine Gold Project

  Galiano Gold Reports Q3 Operating and Financial Results

  Eloro Resources Intersects 279.22 Ag/t, 0.47% Pb and 0.43% Sn

  Orla Mining Update on Panama and Cerro Quema

  Wesdome Drilling Continues to Return High Grades

  Mining Review 17th December 2023

Market Data

Weekly Price changes

(US$ unless stated)

Metal Prices

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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) 

Announced that it has completed a metallurgical drill program and commenced a definition drill program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia.

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Eloro Resources Announces Completion of Metallurgical Holes and Updates Progress on Definition Drill Program to Expand Higher Grade Mineral Resource for PEA at Iska Iska Project, Potosi Department, Southwestern Bolivia.

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TORONTO, Nov. 01, 2023 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that it has completed a metallurgical drill program and commenced a definition drill program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia.

Three metallurgical drill holes totalling 940m have been completed, two in the higher-grade Polymetallic (Ag-Zn-Pb) Domain Type and a third hole in the higher-grade Tin Polymetallic (Sn-Ag-Pb) Type.

These metallurgical holes twinned previous holes drilled which contain representative values of the different domains as outlined in Table 1. Core size is PQ which has a diameter of 85mm (3.35 inches).

The drill core selected for testing from these holes which totals 10,001 tonnes from 657.9m of core has been shipped to Wardell Armstrong International (WAI) in Cornwall for crushing sizing and then the +9.5mm crushed product will be sent to TOMRA GmbH based in Wedel, Germany for cascade “ore-sorting” tests.

 Eloro Resources (TSX: ELO)

Announced the filing of the National Instrument 43-101 Technical Report in support of the initial mineral resource estimate  for the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia.

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Mining Review 10th September 2023

Auteco closed the Green Bay Mine acquisition from the former AIM listed Rambler, and immediately spelt out their different approach, with a plan to double resources before recommencing mining.

Eloro and Skeena Resources both brought out new MRE’s in an otherwise quiet week.

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Skeena Resources – Eskay Creek drilling, Golden Triangle, B.C. Canada.

City Investors Circle Mining Update 23rd September 2023

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Mining Review 10th September 2023

Auteco closed the Green Bay Mine acquisition from the former AIM listed Rambler, and immediately spelt out their different approach, with a plan to double resources before recommencing mining.

Eloro Resources and Skeena Resources both brought out new MRE’s in an otherwise quiet week.

Companies on our watchlists in the news this week

The main news this week was from Auteco, who announced the closure of their acquition of the Green Bay Mine, formerly owned by UK listed Rambler, which went into administration recently.

Auteco are taking a different approach to Rambler, and instead of restarting the mine now, which they could do, they are going to have an extensive drill campaign to expand the resource, using as thir model neighbouring mines and the similarity of the geology.

Auteco plan to create significant shareholder value by greatly increasing the resource numbers, before resuming mining in a couple of years time. To read the full news release, please click on the link below.

  Cyprium Shareholders approved the SGM motions 

  Skeena Resources Increased the Snip Gold Resource to 823,000 Oz

  Eloro Resources Reported an Inferred MRE of 1.15 Billion Oz Silver Eq

  Auteco Closed the Green Bay Mine Deal

  Marathon Gold Berry Regulatory Assessment on Track

  Westhaven Gold Filed a Technical Report For Shovelnose

  Mining Review Sunday 3rd September

A quiet week for most metals, but silver, nickel, and platinum all had hard falls on the week.

Coking coal rose strongly on more positive Chinese economy news.

Market Data

Weekly Price Changes

(US$ unless stated)

Metal Prices

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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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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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.

Disclosure

At the time of writing the author holds shares in Eloro Resources

..Eloro REsources

Eloro Resources  (TSX: ELO)

Announced the inaugural mineral resource estimatefor the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia.

Total in situ metal estimated to be 298 million ounces Ag, 4.09 million tonnes Zn, 1.74 million tonnes Pb and 130,000 tonnes Sn totalling 1.15 billion ounces silver equivalent. 

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Eloro Resources (TSX: ELO)

Commenced trading on the main board of the Toronto Stock Exchange today.

This is a significant move for a junior explorer, as they continue to explore and develop the potentially huge Iska Iska silver-tin polymetallic project in Potosi, Bolivia.  

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Eloro Resources – Iska Iska project view

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Eloro Resources Commences Trading on the TSX Main Board

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Eloro Resources (TSX: ELO) commenced trading on the main board of the Toronto Stock Exchange today.

The graduation opening ceremony can be viewed HERE

This is a significant move for a junior explorer, as they continue to explore and develop the potentially huge Iska Iska silver-tin polymetallic project in Potosi, Bolivia.  

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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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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Eloro Resources.

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Mining Review 12th March 2023

The PDAC organisers said it had a “bullish feel to it”, well no change there then, it nearly always does!

Calidus Resources, Karora Resources, Neometals and UEC all reported good news this week. 

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Karora Resources – Beta Hunt Mine Specimen Stone

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City Investors Circle Mining Review 12th March 2023

The PDAC had a “bullish feel to it”, well no change there then, it nearly always does! I drew the conclusion that these sort of conferences are “echo chambers” many years ago, the converted preaching to the converted, people telling people what they want to hear.

These can be dangerous places as they tend to ignore the negatives and focus only on positives, a bit like a commissioned broker report.

I didn’t attend this year for the first time since 2009, because after having perused the exhibitor list, it just didn’t look exciting. With miners falling for so long there’s no excitement at all.

So, given the lack of excitement, eye watering Airbnb and hotel rates,  and freezing sub zero temperatures, it wasn’t difficult to give it a miss. Will I go next year?  Let’s hope the market rebounds and I might get the urge once again.  Cape Town in January is a much better place in my opinion.

The price of copper is falling again, on world economic slowdown concerns, with China actually exporting some! A bit unusual but they’re clever these Chinese, and have done so before when the price was higher, only to import once it was lower.

Companies on our watchlist making news this week;

Calidus Resources, Karora Resources, Neometals and UEC all reported good news this week.

To read the reports in full please click on the links below.

  Karora Resources Added 8% To The Beta Hunt Nickel M & I

  UEC Intersects 15.94% eU3O8 over 7.0 m

  Neometals now controlling shareholder in Vanadium Recovery Project SPV

  Calidus Reported Warrawoona Gold Mine Record Production in February

  Karora Completes Beta Hunt Second Decline Ahead of Schedule

  Eloro Resources to Commence Trading on the TSX

  Mining Review 5th March 2023

Market Data

Weekly price changes

(US$ unless stated)

Metal Prices

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Metal ETFs

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author hold shares in Calidus Resources, Eloro, and Karora Resources.

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Read more: http://www.city-investors-circle.com/archives/#ixzz7vfn81o1g

Eloro Resources Ltd. (TSX.V: ELO)

Announced that its common shares will commence trading on the Toronto Stock Exchange (“TSX”) at the opening of the market on Monday, March 6, 2023 under its current trading symbol “ELO”.

Concurrently with the listing on the TSX, the Company’s shares will be delisted from the TSX Venture Exchange.  

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Eloro Resources Tumi – Gate of the Sun

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Eloro Resources Ltd. to Commence Trading on the Toronto Stock Exchange

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro” or the “Company”) is pleased to announce that its common shares will commence trading on the Toronto Stock Exchange (“TSX”) at the opening of the market on Monday, March 6, 2023 under its current trading symbol “ELO”.

Concurrently with the listing on the TSX, the Company’s shares will be delisted from the TSX Venture Exchange.

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Thomas Larsen, Eloro’s CEO, stated,

“We are pleased to have graduated to the premier Canadian exchange.

“Listing on the TSX will provide Eloro greater market visibility and increased access to capital to help drive the Company’s growth as it advances its flagship Iska Iska project in southern Bolivia.”

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About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec.

Through its Bolivian subsidiary, Eloro has an option to acquire a 100% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia.

A recent NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited, is available on Eloro’s website and under its filings on SEDAR.

Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine.

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To read the full news release, please click HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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.

Disclosure

At the time of writing the author holds shares in Eloro Resources.

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Eloro Resources (TSX.V: ELO)

Announced results of additional modeling of ground magnetic data and completion of an initial Induced Polarization/Resistivity survey on the Casiterita property adjoining the Iska Iska Silver-Tin Polymetallic property to the southwest.

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Eloro Resources (TSX.V: ELO)

Announced assay results from eight additional diamond drill holes from its definition drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. 

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Eloro Announce high grade Assays at Iska Iskas Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is plea

TORONTO, Jan. 31, 2023 (GLOBE NEWSWIRE) — Eloro Resources (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from eight (8) additional diamond drill holes from its definition drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.

Hole DHK-27 was drilled from Huayra Kasa due west at -45 degrees to a length of 860m to fill-in gaps in previous drilling of the High-Grade Zone. Five (5) additional holes (DHK-26. DHK-28, DHK-29, DHK-30 and DSB-42) were drilled to the southwest from the Huayra Kasa area to test the eastern margin of the Santa Barbara deposit. Hole DSB-43 was drilled on southwest side of Santa Barbara and hole DSB-46 tested the potential south-southeastern extension.

As previously reported in a press release dated November 27, 2022, the Company completed 84,495m of drilling in 122 holes to complete the definition drill program in the Santa Barbara target area, as shown in Figure 1. Tables 1 and 2 list significant assay results for the reported drill holes.

Prices used for calculating Ag equivalent grades are as outlined in Eloro’s July 21, 2022 press release. Table 3 summarizes drill holes completed but with assays pending. The remaining eight (8) holes outstanding are in the south-southeastern extension area of the southern part of the Iska Iska caldera.

In addition to the new drill results, the Company is pleased to report on channel sampling results from the Mina 1 and Mina 2 underground workings located approximately 2km south-southeast of the Santa Barbara adit and approximately 800m east of the Porco adit where previously reported channel sampling returned a 103m strike length grading 521 g Ag eq/t (g 117g Ag/t, 1.44 g Au/t, 0.54% Cu and 0.66% Sn) in altered basement sediments (see Eloro’s November 17, 2021 press release).

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Tom Larsen, CEO of Eloro, said:

“Hole DHK-27 when determining grade times intercept of 65,887 g Ag eq/t-m is the 2nd most valuable drill hole recorded to date and only just behind the 441-meter 66,389 g Ag eq/t-m intersection in hole DSB-30 reported last fall (see press release September 20, 2022).

“These are remarkable intercepts and grades. The significance of DHK-27 is the consistent high silver grades averaging 69.80 g Ag/t over a length of 325.48 meters which is close to true thickness.

“The higher grade 182.02 g Ag/t over 109.60 m portion of Hole DHK-27 attests to the potential of outlining much higher-grade areas in the Santa Barbara deposit with further drilling.

“It is also important to note that calculations for equivalent Ag grade in this release are based on July 2022 metal prices which for the major metals at Iska Iska are 13% to 33% lower than current prices hence the quoted values for silver equivalent are conservative.

“The technical team under the supervision of Dr. Bill Pearson, P.Geo. and Dr. Osvaldo Arce, P.Geo. are setting up for resumption of diamond drilling in early February that will target the major tin porphyry that they believe is below the Iska Iska porphyry and extends into the newly acquired Mina Casiterita property.

“Eloro has a remarkable opportunity to outline a second, potential world class tin deposit at Iska Iska in addition to the already extensive Santa Barbara silver-tin polymetallic deposit which is the focus of our inaugural mineral resource estimate expected by the end of Q1 2023. Expect to see a lot of activity in and around Iska Iska in 2023!”

To read the full news release, please click HERE.

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To read our full terms and conditions, please click HERE

Mining Review 23rd October 2022

A better week for gold and silver, and their associated ETFs, but industrial metals were mostly static. Lithium reached a new all time high in China.

Ascot Resources, Cyprium Metals, Eloro Resources, Nouveau Monde, Radisson Mining and Wesdome all reported news this week. 

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Eloro Resources – Iska Iska project view

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Mining Review 23rd October 2022

A better week for gold and silver, and their associated ETFs, which rose strongly. Gold rose slightly as the market started to believe the FED may slow down future rate hikes.

Silver was up more than 6%, as some market commentators are highlighting lower stocks at the Comex and LME as industrial demand increases, notably for solar panels.

Industrial metals were mostly static, and in the energy sector, the price of Lithium carbonate reached a new all time high in China, $74,600.

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Mining news this week

The government of Namibia announced they would sell all their rare earth elements to the EU in an exclusivity deal. The EU have agreed all the processing would be carried out in Namibia, thus beneficiating the product at source.

This is a good result for Namibian employment and taxes, and maybe the first of many such exclusivity deals as countries try to lock in supply contracts for critical commodities.

In Peru, the large Las Bambas copper mine is blockaded, again!

Companies on our watchlist that made news this week;

Ascot Resources, Cyprium Metals, Eloro Resources, Nouveau Monde, Radisson Mining and Wesdome Gold Mines all reported news this week.

We initiated coverage of I-80 Gold (TSX: IAU), a company formed by ex Premier Gold management after their takeover by Equinox Gold. Click the link below for my reasoning.

Nimy Resources (ASX: NIM) was added to the early stage grass roots exploration watchlist after revealing promising nickel drill results at their project located in the Yilgarn Craton region of Western Australia.

  Radisson Mining Reported high-grade Gold Intercepts at O’Brien

  Nouveau Monde Graphite Signed an Offtake Deal

  Cyprium Metals Nifty Copper Mine Development Update

  Eloro Resources Hit Multiple Intersections at Iska Iska

  Initiating coverage of I-80 Gold Corp.

  Ascot Resources Reported Positive Grade Reconciliation

  Wesdome Gold Q3 Results Disappoint the market, the stock fell

 Mining Review 16th October 2022

Read more: http://www.city-investors-circle.com/archives/#ixzz7iRnpbY8U

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Market Data

Week on week price movements

(US$ unless stated)

Metal prices

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Metal ETFs

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Miscellaneous data

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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

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Ascot Resources, Cyprium Metals, and Eloro Resources,  all bought in the market at the prevailing price on the days of purchase. 

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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.

The intersection in hole DSB-36, drilled 400m southeast of the Santa Barbara adit, includes higher-grade portions of: 180.29 g Ag eq/t (24.27 g Ag/t, 2.49% Zn and 0.73% Pb) over 24.13m, and 197.54 g Ag eq/t (17.04 g Ag/t, 2.96% Zn and 0.58% Pb) over 11.82m.

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One drill hole, DSB-36, collared 400m southeast of the Santa Barbara adit, tested the extension of the core of the high-grade feeder zone at Santa Barbara while hole DSB-34, tested the potential southwest limits of the high-grade feeder zone.

To-date, the Company has completed 79,258m in 118 drill holes to-date at Iska Iska, including four holes in progress. Prices used for calculating Ag equivalent grades are as outlined in Eloro’s July 21, 2022 press release.

• This intersection in hole DSB-36, drilled 400m southeast of the Santa Barbara adit, includes higher-grade portions of:
  • 180.29 g Ag eq/t (24.27 g Ag/t, 2.49% Zn and 0.73% Pb) over 24.13m.
  • 197.54 g Ag eq/t (17.04 g Ag/t, 2.96% Zn and 0.58% Pb) over 11.82m.
  • 211.34 g Ag eq/t (30.50 g Ag/t, 2.87% Zn and 0.76% Pb) over 6.02m.
• Other significant intersections in this hole include:
  • 101.31 g Ag eq/t (28.14 g Ag/t, 0.19% Zn, 0.55% Pb and 0.26% Cu) over 77.82m.
  • 101.47 g Ag eq/t (23.88 g Ag/t, 1.08% Zn and 0.56% Pb) over 55.54m.
  • 205.75 g Ag eq/t (20.69 g Ag/t, 0.15 g Au/t, 0.68% Zn and 0.75% Pb) over 22.75m.
  • 136.82 g Ag eq/t (3.33 g Ag/t, 0.09 gAu/t, 1.72% Zn, 0.31% Pb and 0.07% Sn) over 78.39m including 478.26 g Ag eq/t (12.60 g Ag/t, 0.27 gAu/t, 5.61% Zn, 0.91% Pb and 0.28% Sn over 10.53m
  • 203.26 g Ag eq/t (1.73 g Ag/t, 0.75% Zn and 0.42% Sn) over 12.22m.
  • The last sample in this 935.4m long hole returned 549.91g Ag eq/t (46.00 g Ag/t, 3.33% Zn, 2.27%Pb and 0.68% Sn) over 1.51m.
  • 52% of this hole contained reportable intersections which collectively averaged 112.48 g Ag eq/t.
• On-Strike Extension of High Grade Feeder Zone at Santa Barbara to South-Southeast now confirmed for an additional 400m and is open along strike.

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Tom Larsen, CEO of Eloro Resources stated:

“Results from hole DSB-36 continue to confirm that the high-grade feeder zone extends much further south-southeast across the valley of the Iska Iska caldera as interpreted from our geophysical surveys.

“This new hole has extended the strike length a further 400m to the south-southeast where it remains open along strike. We are continuing to aggressively drill this important target which has the potential to outline a significant open pittable resource.”

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Dr. Bill Pearson, Eloro Resources Executive VP, Exploration commented:

“We are continuing to carry out our 100m-spaced sectional drilling across the Iska Iska caldera valley.

We have four holes in progress with four additional holes planned that collectively total 6,000m to complete our first-pass definition drill program. “We expect that this drilling will be completed by the mid- to latter part of November.

“Currently, assays are outstanding for approximately 14,213m of drill core. Turnaround from our assay laboratories has however improved in recent weeks so we expect most of this backlog to be cleared up by the end of November.

“We are working closely with Micon International to build a robust model for the mineral resource estimation. GeologicAI is also completing development of comprehensive mineral maps calibrated by our new mineralogical data which will greatly aid the modelling process.”

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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

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Eloro Resources, bought in the market at the prevailing price on the days of purchase. 

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To read our full terms and conditions, please click HERE

Mining Review Sunday Update 31st July

Gold and other metals bounced after the dovish comments by FED Chair Powell after he increased US interest rates by 0.75%.

Companies in the news this week with good drill results included Cabral Gold, Eloro Resources, and Karora Resources.

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Eloro Resources – Iska Iska project view

City Investors Circle Mining Review Sunday Update 31st July

Gold and other metals bounced after the dovish comments by FED Chair Powell after he increased US interest rates by 0.75%.

Companies in the news this week with good drill results included Cabral Gold, Eloro Resources, and Karora Resources.

The main news of the week was the collapse into administration of ASX listed Wiluna Mining, a month after they raised A$65 million at double the suspended share price!  I would expect there are some very unhappy investors dmanding ansers after this debacle.

Companies on our watchlist in the news last week:

  UEC’s bid for UEX Trumped by Denison Mines

  Westhaven Gold Announced a $3,000,000 Placement

  Uranium Energy Corp Attains Key Milestone

  Karora Resources Drilled the Highest Grade To Date at Beta Hunt

  Eloro Resources reported their best ever drill results at Iska Iska, Bolivia

  Cabral Gold 13m @ 4.6 g/t Gold at Cuiú Cuiú

Market Data weekly price changes

The Monthly Market Review has just been published, and all the commodity prices are listed there, just click the ‘Market Data’ tab at the top of the report.

To read the July 2022 Market Review, 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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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

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.  

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Eloro Resources – Iska Iska project view

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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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For brevity, this summary has been redacted, 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

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Eloro Resources, bought in the market at the prevailing price on the days of purchase. 

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PDAC 2022 – Day 3

The conference was quiet this morning, but busier than the old half day Wednesday of previous years, which were hardly worth attending as booth holders were conspicuous by their absence, due to the festivities of the previous evening.

PDAC 2022 opening day, the throng being held outside due to congestion in registration is visible in the background.

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PDAC 2022 – Day 3

The conference was quiet this morning, but busier than the old half day Wednesday of previous yeas, which were hardly worth attending as booth holders were conspicuous by their absence due to the festivities of the previous evening.

Is this evidence management are taking things more seriously this year I wonder?

I caught up with the Eloro (TSX.V: ELO)  guys at their stand, and they informed me they had a good news release yesterday (mid conference?), but sadly didn’t have a copy on their stand, which is poor, to say the least.

When I’m home I’m looking forward to reading it as apparently they have some superb hits at depth, with the gold grade increasing the deeper they drill.

Mining Review Sunday Update 15th May 2022

A truly awful week for investors in mining stocks and precious metals, as the strong US dollar pushed down the price of gold, silver, stocks, and bonds.

Chinese copper stocks are low, but the price of copper continues to fall.  […] 

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Eloro Resources – Iska Iska project view.

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City Investors Circle Mining Review Sunday Update 15th May 2022

A truly awful week for investors in mining stocks and precious metals, as the strong US dollar pushed down the price of gold, silver, stocks, and bonds.

Chinese copper stocks are low, but the price of copper continues to fall. The price of nickel is also falling despite the Chinese ‘Big Shot’ only managing to unravel half of his short position so far.

Commodity prices falling

Firstly we have to remember that the US dollar is extremely high at the moment, a multi year high, so in fact some commodity prices will not be falling so much, if at all, in local currencies.

Last month for example, the price of gold fell in US dollar terms, but ROSE in UK £ terms, due to the rise of the dollar versus the £.

Even so the some of the falls in commodity prices over the last week were breathtaking, Tin -16.9%, Iron ore -11%, zinc -11%, nickel -8.6%, copper – 5.54%, and remember, these are WEEKLY price movements!

As well as the strong US dollar there are some economic concerns, the principal one being the effects of the covid lockdowns in various Chinese industrial cities, reducing the need for raw materials temporarily. The second of course is the Ukrainian conflict.

The only commodity that rose in price last week was coking coal, despite India increasing imports from Russia, at a discount, presumably.

Mining stocks took a battering this week, even profitable producers are being slaughtered in the rush to sell.  One example being Karora Resources (TSX.V: KRR), producing gold with a nickel by product with low AISC.

Stocks on our watchlist in the news this week.

Orla Mining Q1 2022 Earnings Call Transcript

Eloro Resources Completed a Discounted Bought Deal

Colonial Coal CEO Presentation Enthuses Investors

Pure Gold Mining – Diary of a Disaster

Ascot Resources Commenced their 2022 Drilling Program

Karora Resources welcomed Tony Makuch as an Advisor

Calidus Resources Poured first gold at Warrawoona

Market Data (US$)

Precious Metals

Base Metals

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Energy metals

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Bulk commodities

Metal ETF’s

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If you need clarification of any information contained in this note, or have any questions about any company mentioned in this note, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author owns shares in all the companies mentioned in this report except Pure Gold Mining, bought in the market at the prevailing price on the day of purchase.

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Eloro Resources (TSX.V: ELO)

Announced that it has entered into an agreement pursuant to which the Underwriter has agreed to purchase, on a bought deal basis, 1,538,480 units at a price of C$3.25 per Unit for gross proceeds to the Company of C$5,000,060.

This is around a 25% discount to the prevailing price at the time of announcement.  […] 

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Eloro Resources Tumi – Gate of the Sun

Comment

As a shareholder I was annoyed at the discount to the market price here, but then I read that Sonoro have withdrawn their proposed financing due to “prevailing market conditions”, and I thought that at least Eloro managed to get their placing away!

TORONTO, May 12, 2022 /CNW/ – Eloro Resources Ltd. (the “Company” or “Eloro“) (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. to act as sole underwriter (the “Underwriter“), pursuant to which the Underwriter has agreed to purchase, on a bought deal basis, 1,538,480 units (the “Units“) at a price of C$3.25 per Unit (the “Issue Price“) for gross proceeds to the Company of C$5,000,060 (the “Offering“).

Each Unit will consist of one common share (a “Common Share“) in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant“) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share“) at a price per Warrant Share of C$4.75 for a period of 24 months from the closing date of the Offering.

In addition, the Company has agreed to grant to the Underwriter an option to purchase up to an additional 15% of the number of Units sold under the Offering at a price per Unit equal to the Issue Price, on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering.

The net proceeds from the Offering will be used for exploration and development at the Company’s projects in Bolivia and Peru, and for general working capital and corporate purposes as set out in the Prospectus Supplement (defined below).

The Units will be offered by way of a prospectus supplement (the “Prospectus Supplement“) to the Company’s existing base shelf prospectus in the all of the provinces of Canada (other than the Province of Quebec). The Prospectus Supplement (together with the related base shelf prospectus) will be available on SEDAR at www.sedar.com.

The Offering is scheduled to close on or about May 19, 2022 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX.V.

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For brevity, this summary has been redacted, 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 about Eloro Resources, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author owns shares in Eloro Resources, bought in the market at the prevailing price on the day of purchase.

.

.

Mining Review Sunday Update 8th May 2022

Another volatile week for gold, but it fared better than some thought after the half a percent FED rate hike.

Companies in the news this week included, Cabral Gold, Eloro Resources, Fosterville South, Kootenay Silver, and Radisson Mining Resources.

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Eloro Resources drill crew, Iska Iska, Potosi, Bolivia

Mining Review Sunday Update 8th May 2022

Another volatile week for gold, but it fared better than some thought after the half a percent FED rate hike. I think it’s possible that the mooted .75% rise rumour was used to put fear into the market so there was a relief rally when only half a percent was announced.

Interest rates are still historically low and a half percent is not enough to stop wasteful discretionary spending, with some UK credit card rates already at 29.9% before the rate rise!

Where interest rate rises are felt is in the housing market of course, where half a percent dies make a difference. With a UK election due in a couple of years the government will be wary of raising rates too much, as going into the next election with a falling property market wouldn’t be a vote winner.

Turning to the markets, companies in the news this week included, Cabral Gold, Eloro Resources, Fosterville South, Kootenay Silver, and Radisson Mining Resources.

News from our watchlist companies this week

London Mining Conferences are Becoming Identical

Kootenay Silver Began 15,000 M of Drilling

Cabral Gold drilled 9.6m @ 16.4 g/t Gold at Cuiú Cuiú

Fosterville South reported Reedy Creek High Grade

Eloro Resources resource detail by expert geologist

Radisson Mining Resources reported High Grade Gold Intercepts

Market data (US$)

Precious Metals

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Base Metals

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Energy Metals

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Bulk commodities

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure,

The author holds shares in Eloro Resources and Fosterville South, bought in the market at the prevailing price on the days of purchase.

.

Eloro Resources (TSX.V: ELO)

Expert geologist Quinton Hennigh explains in detail his interpretation of Eloro’s resource at Iska Iska, and then follows that with a superb and easy to follow guide on how to estimate a resource volume from given parameters.

This is well worth listening to, a real education by an expert in his field.  […] 

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Eloro Resources – Iska Iska project view

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Eloro Resources resource explained in detail by expert geologist Quinton Hennigh

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Eloro Resources (TSX.V: ELO) – Expert geologist Quinton Hennigh explains in detail his interpretation of Eloro’s resource at Iska Iska, and then follows that with a superb and easy to follow guide on how to estimate a resource volume from given parameters.

This is a wonderful explanation of the potential of the resource, using the very latest 3D computer technology.

Quinton then explains in layman’s terms how an investor can calculate a resource with given parameters.

This is well worth listening to, a real education,  by an expert in his field.

The video can be accessed HERE, the Eloro presentations starts at 40 minutes and 50 seconds.

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.

If you need clarification of any information contained in this note, or have any questions about Eloro Resources, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure,

The author holds shares in Eloro Resources, bought in the market at the prevailing price on the days of purchase.

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.