Eloro Resources Intersects Significant Intervals of Silver and Tin-rich Mineralization in Step-out Drilling at its Iska Iska Ag-Sn-Polymetallic Project
- Hole DSB-76, a stepout hole 100m south-southeast of discovery hole DSB-72, intersected a high-grade silver zone in the upper part of the hole grading 129.57 g Ag/t over 52.50m beginning at 151.50m including a higher grade section of 252.64 g Ag/t over 25.50m beginning at 171.00m.
- This hole intersected significant deeper tin mineralization returning 0.31% Sn over 28.50m beginning at 334.50m and including 0.63% Sn over 3.0m and 1.32% Sn over 3.0m, 0.15% Sn over 10.50m beginning at 406.50m and 0.24% Sn over 10.50m beginning at 490.50m.
- Hole DSB-77, collared 50m west of discovery hole DSB-72, intersected a number of significant tin intersections:
- 0.23% Sn and 5.89 g/t Ag over 79.50m beginning at 1.50m including 0.30% Sn and 5.15 g/t Ag over 19.50m beginning at 7.50m and 0.36% Sn and 4.64 g/t Ag over 16.50m beginning at 55.50m,
- 0.13% Sn and 14.08 g/t Ag over 69.00m beginning at 126.00m including 0.33% Sn over 7.50m beginning at 135.00m,
- 0.24% Sn over 63.0m beginning at 280.50m including 0.48% Sn over 24.0m beginning at 307.50m, and
- 0.37% Sn over 31.5m beginning at 501.00m including 0.79% Sn over 10.50m beginning at 501.00m and 0.55% Sn over 4.50m beginning at 528.00m.
- The broad tin intersections in both drill holes contain visually coarse-grained cassiterite which is likely to be amenable to gravity separation. Further TIMA mineralogy is planned to confirm cassiterite grain size and other mineralogical attributes associated with tin recovery.
- This definition drill program has clearly demonstrated that as drill hole density within the deposit is increased, grades, especially for silver and tin, notably appear to increase. Eloro thinks this trend is likely to continue as further drilling is undertaken in the next drill campaign. In addition, recent definition drilling has consistently reduced and/or eliminated areas that were previously modeled as waste within the resource model due to lack of drilling.
Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) ("Eloro", or the "Company") is pleased to announce the final assay results from its 10-hole definition diamond drilling program in the potential Santa Barbara starter pit area in the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. A total of 5,799.4m of diamond drilling have been completed in eleven (11) holes in this phase of drilling. Assays are pending for the one step out hole on the SE chargeability anomaly. Figure 1 shows the location of drill holes reported, Table 1 lists significant assay results and Table 2 lists drill hole coordinates.
Tom Larsen, Eloro's CEO commented: "The definition drilling phase completed this year at Iska Iska has resulted in the step-out intersection of additional mineralization and provided new information regarding the geometry of the zone at depth in both the tin and the silver polymetallic domains. We are very excited that we have intersected significant silver-tin mineralization in all ten holes of the First Phase Definition Drilling Program, stepping out from our discoveries between 2021 and 2023. These results will add greatly to the potential economic value in the next phase PEA study and will assist to plan more systematic future drilling at the Santa Barbara zone. With the successful closing of our recent financing (see Eloro's press release dated April 8, 2025), we are well positioned to continue drilling to further expand resources and increase grade in the highly prospective feeder zone area of Santa Barbara."
Dr. Bill Pearson, P.Geo., Executive Vice President, Exploration for Eloro added: "The definition drill program has been designed to fill-in major gaps in the resource block model as well as upgrade and expand the higher-grade silver and tin zones both along and across strike in the potential starter pit area at Santa Barbara. As noted by Micon International Limited, authors of the National Instrument 43-101 ("NI 43-101") Technical Report detailing the initial Iska Iska mineral resource estimate ("MRE") (see Eloro press release dated October 17, 2023), the highest-grade areas in the mineral resource model are also the best drilled. The geological and geophysical signature of the Iska Iska mineralizing system indicates that it is very extensive and continuously mineralized. This definition drill program has clearly demonstrated that as drill density in the deposit is improved, grades, especially for silver and tin, increase. This trend is likely to continue with further drilling planned in the next phase. In addition, the definition drilling has reduced and/or eliminated areas that previously were waste in the resource model due to lack of drilling data."
Definition Drill Program, Santa Barbara Potential Starter Pit Area
Holes DSB-76 and DSB-77 were drilled on the western margin of the potential starter pit area at Santa Barbara as shown in Figure 1. Hole DSB-76 is located 100m southeast of discovery hole DSB-72 and DSB-77 is located 50m to the west of hole DSB-72. Both holes intersected significant tin mineralization in intrusion breccia (TIB), the principal host for higher grade tin mineralization at Iska Iska (see Eloro press releases dated January 23, 2025 and February 20, 2025 for further detail). Tin intersections in both holes are visibly coarse cassiterite which are likely to be amenable to gravity separation. Further TIMA mineralogy is planned to confirm cassiterite grain size and other mineralogical attributes associated with tin recovery.
Hole DSB-76, which was primarily a tin stepout hole, intersected a high grade silver zone in the upper part of the hole grading 129.57 g Ag/t over 52.50m from 151.5m to 204.0m including a higher grade section of 252.64 g Ag/t over 25.5m from 171.0m to 196.5m.
This hole intersected significant deeper tin mineralization returning 0.31% Sn over 28.50m from 334.50m to 363.0m including 0.63% Sn over 3.0m and 1.32% Sn over 3.0m; 0.15% Sn over 10.50m from 406.50m to 417.0m; and 0.24% Sn over 10.50m from 490.50m to 501.0m.
Hole DSB-77 intersected a number of significant tin intersections as follows:
- 0.23% Sn and 5.89 g/t Ag over 79.50m from 1.5m to 81.0m including:
- 0.30% Sn and 5.15 g/t Ag over 19.50m from 7.5m to 27.0m
- 0.36% Sn and 4.64 g/t Ag over 16.50m from 55.5m to 72.0m
- 0.13% Sn and 14.08 g/t Ag over 69.00m from 126.00m to 195.00m including 0.33% Sn over 7.50m from 135.00m to 142.50m
- 0.24% Sn over 63.0m from 280.5m to 343.5m including 0.48% Sn over 24.0m from 307.5m to 331.50m
- 0.37% Sn over 31.5m from 501.00m to 532.50m including:
- 0.79% Sn over 10.50m from 501.00m to 511.50m
- 0.55% Sn over 4.50m from 528.00m to 532.50m
Further definition drilling to continue to test for high grade tin mineralization in the intrusive breccia (TIB) unit will be a major focus for the next phase definition diamond drill program in the Santa Barbara potential starter pit area. Additional locations where more definition drilling can potentially further upgrade and expand the high grade silver-polymetallic domain mineralization have also been identified.
Appointment of Colin Belshaw, IEng, as Vice President Mining
Eloro is pleased to announce the appointment of Colin Belshaw, IEng, as Vice President Mining, effective April 15, 2025. Colin has extensive international mining experience in base metals and gold in both open pit and underground operations, ten years of which included narrow vein underground mining at the South Crofty tin mine in Cornwall, England. His Cornwall experience is relevant in view of the marked similarities between South Crofty's tin operations and many of those in Bolivia. Colin's extensive previous operational experience at General Manager level, VP Operations level, and COO level will add to the strong geological and metallurgical expertise of the existing team. Colin studied mining engineering at the Camborne School of Mines in Cornwall and is a Fellow of the UK's Institution of Materials Minerals and Mining (FIMMM). Colin stated, "I am delighted to accept the position with Eloro and look forward to assisting the team with the development of the Iska Iska polymetallic project."
Eloro Retains CPM Group
Eloro also announces that it has retained CPM Group LLC, led by CPM Managing Partner, Jeffrey M. Christian, as consultants to provide research and advisory services related to silver, commodities in general, and financial matters related to silver and mining. Additionally, Eloro will sponsor CPM Group's 2025 Silver Yearbook, due for release May 27, 2025. CPM's Silver Yearbooks have been produced since the early 1970s and represent the most detailed and accurate estimates of silver supply, fabrication demand, investment demand, and global inventories. CPM provides a range of research and financial advisory services related to precious metals and commodities, advising a range of institutional investors, governments, central banks, producers, and other companies. Jeffrey M. Christian has been a prominent expert on silver, gold, platinum group metals, copper, and other commodities, including financial engineering aimed at improving its clients' exposure to precious metals and commodities prices.
Table 1: Definition Diamond Drill Results as of April 15, 2025, Santa Barbara, Iska, Iska
| SANTA BARBARA DEFINITION DIAMOND DRILL RESULTS - AG-ZN-PB POLYMETALLIC DOMAIN | ||||||||
| Hole No. | From (m) | To (m) | Length (m) | Ag | Zn | Pb | Sn | Ag eq |
| g/t | % | % | % | g/t | ||||
| DSB-76 | 118.50 | 139.50 | 21.00 | 3.01 | 0.00 | 0.23 | 0.15 | 38.04 |
| 151.50 | 204.00 | 52.50 | 129.57 | 0.00 | 0.02 | 0.07 | 128.42 | |
| Incl. | 171.00 | 196.50 | 25.50 | 252.64 | 0.00 | 0.01 | 0.07 | 237.20 |
| 222.00 | 232.50 | 10.50 | 21.07 | 0.00 | 0.02 | 0.11 | 40.45 | |
| 277.50 | 297.00 | 19.50 | 11.05 | 0.00 | 0.03 | 0.14 | 37.03 | |
| 303.00 | 310.50 | 7.50 | 10.10 | 0.00 | 0.00 | 0.08 | 23.82 | |
| 334.50 | 363.00 | 28.50 | 1.76 | 0.00 | 0.01 | 0.31 | 63.13 | |
| Incl. | 337.50 | 340.50 | 3.00 | 8.85 | 0.00 | 0.03 | 0.63 | 130.95 |
| Incl. | 354.00 | 357.00 | 3.00 | 1.25 | 0.00 | 0.04 | 1.32 | 259.81 |
| 406.50 | 417.00 | 10.50 | 0.30 | 0.00 | 0.01 | 0.15 | 28.82 | |
| 435.00 | 450.00 | 15.00 | 0.81 | 0.01 | 0.01 | 0.13 | 26.63 | |
| 490.50 | 501.00 | 10.50 | 0.39 | 0.02 | 0.01 | 0.24 | 47.22 | |
| DSB-77 | 1.50 | 81.00 | 79.50 | 5.89 | 0.00 | 0.01 | 0.23 | 51.30 |
| Incl. | 7.50 | 27.00 | 19.50 | 5.15 | 0.00 | 0.01 | 0.30 | 63.10 |
| Incl. | 55.50 | 72.00 | 16.50 | 4.64 | 0.00 | 0.01 | 0.36 | 75.36 |
| 126.00 | 195.00 | 69.00 | 14.08 | 0.00 | 0.01 | 0.13 | 37.86 | |
| Incl. | 135.00 | 142.50 | 7.50 | 9.20 | 0.00 | 0.00 | 0.33 | 72.81 |
| 220.50 | 223.50 | 3.00 | 19.00 | 0.00 | 0.23 | 0.31 | 83.18 | |
| 280.50 | 343.50 | 63.00 | 2.81 | 0.00 | 0.01 | 0.24 | 50.27 | |
| Incl. | 307.50 | 331.50 | 24.00 | 3.94 | 0.00 | 0.01 | 0.48 | 97.02 |
| 355.50 | 357.00 | 1.50 | 1.00 | 0.00 | 0.10 | 0.49 | 98.31 | |
| 501.00 | 532.50 | 31.50 | 2.02 | 0.01 | 0.01 | 0.37 | 74.00 | |
| Incl. | 501.00 | 511.50 | 10.50 | 4.50 | 0.01 | 0.02 | 0.79 | 159.56 |
| Incl. | 528.00 | 532.50 | 4.50 | 1.00 | 0.00 | 0.00 | 0.55 | 108.49 |
| 568.50 | 580.50 | 12.00 | 2.63 | 0.01 | 0.00 | 0.15 | 32.06 | |
Note: True width is approximately 80% of core length. Silver equivalent (Ag eq) grades are calculated using 3-year average metal prices of Ag = US$24.14/oz, Zn = US$1.36/lb , Pb = 0.98/lb and Sn = US$13.74/lb, and preliminary metallurgical recoveries of Ag = 88%, Zn = 87%, Pb= 80% and Sn = 50%. In selecting intervals, a cutoff grade of 30 g Ag eq/t has been used. Lower grade material may be included in intersections where geological continuity is warranted.
Figure 1: Location Map of Definition Diamond Drill Holes, Santa Barbara zone, Iska Iska. The yellow circles highlight the location of holes DSB-76 and DSB-77 referred to in this release.
Table 2: Summary of Diamond Drill Hole Coordinates for Drill Holes Completed at Iska Iska as of April 15, 2025
| SUMMARY DIAMOND DRILLING ISKA ISKA | |||||||
| Hole No. | Type | Collar Easting | Collar Northing | Elev | Azimuth | Angle | Hole Length (m) |
| Santa Barbara Surface Definition Drill Holes Reported and In Progress | |||||||
| DSB-68 | S | 205390 | 7656251 | 4220.0 | 225° | -50° | 402.9 |
| DSB-69 | S | 205262 | 7656133 | 4291.8 | 225° | -85° | 502.0 |
| DSB-70 | S | 205460 | 7656319 | 4191.0 | 225° | -50° | 467.3 |
| DSB-71 | S | 205203 | 7656016 | 4282.0 | 225° | -85° | 533.7 |
| DSB-72 | S | 205088 | 7656107 | 4341.0 | 225° | -85° | 653.4 |
| DSB-73 | S | 205291 | 7656269 | 4273.0 | 225° | -85° | 479.6 |
| DSB-74 | S | 205205 | 7656072 | 4305.6 | 225° | -75° | 470.5 |
| DSB-75 | S | 205310 | 7656329 | 4257.0 | 225° | -85° | 605.4 |
| DSB-76 | S | 205022 | 7656003 | 4342.0 | 225° | -85° | 521.6 |
| DSB-77 | S | 205035 | 7656126 | 4357.0 | 225° | -85° | 653.6 |
| Subtotal | 5,290.0 | ||||||
| Southeast Extension Exploration Drilling | |||||||
| DSE-01 | S | 206198.0 | 7655779.0 | 4000.0 | 225° | -65° | 509.4 |
| Subtotal | 509.4 | ||||||
| TOTAL | 5,799.4 | ||||||
S = Surface; collar coordinates in metres; azimuth and dip in degrees. Total drilling since start of the definition drilling program on October 4, 2024 is 5,799.0m in 11 holes. Since the start of the drilling at Iska Iska on September 20, 2020, a total of 108,997.9m in 162 drill holes (32 underground holes and 130 surface holes) have been completed. | |||||||
Qualified Person ("QP")
Dr. Bill Pearson, P.Geo., Eloro's Executive Vice President, Exploration, and a Qualified Person ("QP") as defined by National Instrument ("NI") 43-101 has reviewed and approved the technical content of this news release. Dr. Pearson who has more than 50 years of worldwide mining exploration, development and production experience, including extensive work in South America, manages the overall technical program, working closely with Dr. Osvaldo Arce, P.Geo. Executive Vice President, Latin America for Eloro and General Manager of Eloro's Bolivian subsidiary, Minera Tupiza S.R.L., and a QP in the context of NI 43-101, who has supervised all field work carried out at Iska Iska.
Eloro utilized both ALS and AHK for drill core analyses, both of whom are major international accredited laboratories. Drill samples sent to ALS were prepared in both ALS Bolivia Ltda's preparation facility in Oruro, Bolivia and the preparation facility operated by AHK in Tupiza with pulps sent to the main ALS Global laboratory in Lima for analysis. Eloro employs an industry standard QA/QC program with standards, blanks and duplicates inserted into each batch of samples analyzed with selected check samples sent to a separate accredited laboratory.
Drill core samples sent to AHK Laboratories were prepared in a preparation facility installed and managed by AHK in Tupiza with pulps sent to the AHK laboratory in Lima, Peru. Check samples between ALS and AHK are regularly done as a QA/QC check. AHK is following the same analytical protocols used as with ALS and with the same QA/QC protocols.
About Iska Iska
The Iska Iska silver-tin polymetallic project is a road accessible, royalty-free property, wholly controlled by the Title Holder, Empresa Minera Villegas S.R.L. and is located 48 km north of Tupiza city, in the Sud Chichas Province of the Department of Potosi in southern Bolivia. Eloro has an option to earn a 100% interest in Iska Iska.
Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex associated with a Miocene possibly collapsed/resurgent caldera, emplaced on Ordovician age rocks with major breccia pipes, dacitic domes and hydrothermal breccias. The caldera is 1.6km by 1.8km in dimension with a vertical extent of at least 1km. Mineralization age is similar to Cerro Rico de Potosí and other major deposits such as San Vicente, Chorolque, Tasna and Tatasi, all located along the same overall geological trend.
Eloro began underground diamond drilling from the Huayra Kasa underground workings at Iska Iska on September 13, 2020. On November 18, 2020, Eloro announced the discovery of a significant breccia pipe with extensive silver polymetallic mineralization just east of the Huayra Kasa underground workings and a high-grade gold-bismuth zone in the underground workings. On November 24, 2020, Eloro announced the discovery of the Santa Barbara Breccia Pipe (SBBP) approximately 150m southwest of the Huayra Kasa underground workings.
Subsequently, on January 26, 2021, Eloro announced significant results from the first drilling at the SBBP including the discovery hole from 0.0m to 257.5m. Subsequent drilling has confirmed the presence of significant values of Ag-Sn polymetallic mineralization in the SBBP and the adjacent Central Breccia Pipe (CBP). A substantive mineralized envelope which is open along strike and down-dip extends around both major breccia pipes. Continuous channel sampling along the walls of the Santa Barbara Adit located to the east of SBBP returned average grades of 164.96 g Ag/t, 0.46%Sn, 3.46% Pb and 0.14% Cu over 166m including 446 g Ag/t, 9.03% Pb and 1.16% Sn over 56.19m. The west end of the adit intersects the end of the SBBP.
Since the initial discovery hole DHK-15 which returned 29.53g Ag/t, 0.078g Au/t, 1.45%Zn, 0.59%Pb, 0.080%Cu and 0.056%Sn over 257.5m, Eloro has released a number of significant drill results in the SBBP and the surrounding mineralized envelope which, along with geophysical data, has defined an extensive target zone. On October 17, 2023, Eloro filed the NI 43-101 Technical Report outlining the initial inferred MRE for Iska Iska, prepared by independent consultants Micon International Limited. The MRE was reported in two domains, the Polymetallic (Ag-Zn-Pb) Domain which is primarily in the east and south of the Santa Barbara deposit and the Tin (Sn-Ag-Pb) Domain which is primarily in the west and north.
The Polymetallic Domain is estimated to contain 560Mt at 13.8 g Ag/t, 0.73% Zn & 0.28% Pb at an NSR cutoff of US$9.20 for potential open pit and an NSR cutoff of US$34.40 for potential underground. The majority of the mineral resource is contained in the constraining pit which has a stripping ratio of 1:1. The Polymetallic Domain contains a higher-grade mineral resource at a NSR cutoff of $US25/t of 132 million tonnes at 1.11% Zn, 0.50% Pb and 24.3 g Ag/t which has a net NSR value of US$34.40/t which is 3.75 the estimated operating cost of US$9.20/t. The Tin Domain which is adjacent to the Polymetallic Domain and does not overlap, is estimated to contain a mineral resource of 110Mt at 0.12% Sn, 14.2 g Ag/t and 0.14% Pb but is very under drilled.
Results of the definition drill program which totalled 5,267.7m in 11 holes were reported on December 18, 2023 and January 11, 2024, respectively. Significant results included 279.22 g Ag/t, 0.47% Pb and 0.43% Sn (339.82g Ag eq/t) over 62.84m and 33.83 g Ag/t, 1.53% Zn, 0.93% Pb and 0.14% Sn (130.88g Ag eq/t) over 178.99m including 120.37 g Ag/t, 2.13% Zn, 1.57% Pb and 0.19% Sn in hole DSB-61; 57.62g Ag/t, 1.26% Zn, 0.94% Pb and 0.12% Sn (139.94g Ag eq/t) over 136.11m in hole DSB-66 and 118.86g Ag/t, 0.35% Zn, 0.35% Pb and 0.15% Sn (152.29g Ag eq/t) over 81.28m in hole DSB-65. This latter intersection in hole DSB-65 included a very high-grade sample of 5,080g Ag/t, 0.12 g Au/t, 0.26% Zn, 1.34% Pb, 1.53% Cu and 1.27% Sn (4,746.46g Ag eq/t) over 1.46m.
Metallurgical tests reported on January 23, 2024 from a 6.3 tonne PQ drill core bulk sample representative of the higher grade Polymetallic (Ag-Zn-Pb) Domain returned a significantly higher average silver value of 91 g Ag/t compared to the weighted average grade of the original twinned holes at 31 g Ag/t strongly suggesting that the average silver grade is likely significantly underreported in the original twinned holes due to the much smaller sample size.
On January 29, 2024, the Company reported that the new chargeability high outlined southeast of the MRE open pit by the expanded induced polarization (IP) survey indicates that the major mineralized structural corridor that is up to 800m wide extends a further 600m along strike to the southeast for an overall strike length of at least 2km. This new area has not been drilled.
The Company reported on July 30, 2024, that updated modelling of the potential starter pit area at Santa Barbara zone highlights the importance of completing additional drilling to better define the grade and extent of the mineral resource in this area. Areas with higher-grade resource typically have much better drilling density but holes outside the core potential pit area are too widely spaced to give an accurate estimate of grade.
On September 4, 2024, the Company announced the restart of definition drilling in the potential starter pit area at Santa Barbara. Previous drilling has shown that areas with high-grade mineralization typically have much better drilling density, whereas holes outside the core area are too widely spaced to give an accurate grade estimate. This increased drilling density is particularly important for defining the extent of the high-grade Ag-bearing and Sn-bearing structures, and for categorizing the mineral resources from inferred to indicated, which have a major influence on overall grade and resources that will contribute to the preliminary economic assessment ("PEA").
Results from the first definition drill hole DSB-68 were released on November 26, 2024. This hole intersected 66.90g Ag/t, 0.63% Zn, 0.42% Pb and 0.11% Sn (111.14g Ag eq/t) over 289.13m including higher grade intervals of:
- 126.10g Ag/t, 0.55% Zn, 0.60% Pb and 0.09% Sn (160.72g Ag eq/t) over 122.03m,
- 47.61g Ag/t, 0.22% Zn, 0.40% Pb and 0.45% Sn (146.06g Ag eq/t) over 16.51m, and
- 25.52g Ag/t, 2.19% Zn, 0.65% Pb and 0.10% Sn (129.60g Ag eq/t) over 7.46m
Further drill results were released on January 6, 2025:
- Hole DSB-69 intersected 127.49g Ag/t, 0.50% Zn, 0.16% Pb and 0.31% Sn (193.00g Ag eq/t) over 41.25m within a broader interval of 49.71g Ag/t, 0.78% Zn, 0.32% Pb and 0.15% Sn (106.97g Ag eq/t) over 142.50m.
- Hole DSB-70 intersected, 45.71g Ag/t, 3.11% Zn, 1.91% Pb and 0.23% Sn (232.35g Ag eq/t) over 81.00m within a broader interval of 30.08g Ag/t, 1.63% Zn 0.98% Pb and 0.13% Sn (127.89g Ag eq/t) over 255.75m
- Hole DSB-71 intersected 53.17 Ag/t, 0.72% Zn, 0.40% Pb and 0.19% Sn (116.62 g Ag eq/t) over 45.00m within a broader interval of 29.26 Ag/t, 0.58% Zn, 0.22% Pb and 0.11% Sn (71.46g Ag eq/t) over 127.50m.
On January 23, 2025, the Company reported discovery hole DSB-72 that opens up a major tin zone intersecting 33m grading 1.39% Sn within 87m grading 0.74% Sn. Tin mineralization is hosted in an extensive intrusion breccia unit (TIB) that is approximately 750m long by 450m wide and extends to a depth of at least 700m. Previous wide space reconnaissance drilling has intersected a number of significant Sn intersections in this breccia unit which is very under-drilled.
High grade tin mineralization in Hole DSB-72 reported here occurs as visible coarse-grained high temperature cassiterite which is likely to be amenable to gravity separation. Core from this hole will be used for additional metallurgical testing. Geophysically, the intrusion breccia has low chargeability which contrasts considerably with the adjacent later epithermal Ag-Zn-Pb mineralization which is marked by a strong chargeability anomaly. The intrusive breccia is very likely an offshoot or apophysis from a large tin porphyry at depth. The likely top of this tin porphyry is marked by a highly conductive zone that is interpreted as a pyrite-pyrrhotite halo around this porphyry. Similar pyritic halos have been reported from other major tin deposits in the Bolivian Tin Belt.
With this discovery of a presumed shallow level apophysis of a tin porphyry at depth, Eloro is in a unique position of having two discernable different deposit styles juxtaposed against one another; a very large silver-zinc-lead dominant system next to a high-grade tin system. While these two systems are likely genetically related, this means that the Company may potentially have two giant deposits on the same property.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of precious 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 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 the Lagunas Norte Gold Mine and the La Arena Gold Mine.
For further information please contact either Thomas G. Larsen, Chairman and CEO or Jorge Estepa, Vice-President at (416) 868-9168.
Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88fcbd20-d6d4-4342-a738-b8951177eb39
