Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec, today provided an update on its Iska Iska silver-tin polymetallic project in Potosi Department, southern Bolivia. According to the update, an initial program of 5,700m of diamond drilling in 13 holes in the Santa Barbara starter pit area is planned to better define the vertical and lateral extent of high-grade Ag mineralization. This will be followed by an additional 1,400m in two larger PQ holes for further metallurgical testing in Sn mineralization to the west.
Upon completing the initial 7,100m drilling program, a second phase 7,000m diamond drilling program is planned in the polymetallic Ag-Zn-Pb and Sn-Ag domains to produce an independent updated mineral resource estimate (“MRE”) which will be reported and incorporated into the preliminary economic assessment (“PEA”). Additionally, a conceptual scoping study has been initiated to identify the potential for developing an underground ramp into the core of the Santa Barbara zone.
“Our geological team has carried out a detailed analysis of all the drilling information, including updated modeling, to develop a very targeted diamond drill program that will start up in late September 2024. The initial focus will be proximal to the Santa Barbara adit zone to help define the potential “Starter Pit Area” and then move to the west to upgrade and expand the polymetallic and Ag-Sn mineralization. This new drilling would aim to generate expanded mineral resources in the Santa Barbara started pit area and provide a mine life of 10-15 years at a preliminary optimized production rate of 35,000 tons per day, to be evaluated in the PEA,” said Tom Larsen, CEO of Eloro.
To view the full press release, visit https://ibn.fm/qecWH
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. 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.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF
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