Eloro (V.ELO) CEO Tom Larsen would have every right to be frustrated with South America. The company’s extremely promising La Victoria Gold/Silver Project in north central Peru has had to deal with 100 year rains and then community politics 3000 meters up in the Andes. Even with widespread community support, until a new President was elected in the community and a community vote to approve the surface rights was held, Eloro could not proceed with exploration. After being sidetracked for more than a year a new President was finally elected in early December.
Eloro Resources Ltd. (TSX-V:ELO) (FSE:P2Q) (“Eloro” or the “Corporation”) and its joint venture partner EHR Resources Limited, are pleased to announce that they are proceeding with a 4,000m diamond drilling program to test the Rufina and San Markito target areas on the La Victoria Au Property in the North-Central Mineral Belt of Peru. The drill permit for Rufina has been issued and Energold Drilling Peru S.A.C.SA has been recommissioned to undertake this work program commencing immediately.
Eloro Resources Ltd. (TSX-V:ELO) (FSE:P2Q) (“Eloro” or the “Corporation”) is pleased to provide an update on planned diamond drilling and geological work at its 90% owned La Victoria Gold/Silver Project in Ancash Department, Peru. EHR Resources Limited of Perth, Australia, is earning up to a 25% interest in La Victoria and has earned a 10% interest with the successful completion of Phase I exploration (see News Release March 1, 2018).
Eloro Resources Ltd. (TSX-V:ELO) (FSE:P2Q) (“Eloro” or the “Corporation”) is pleased to announce the initiation of the next stage of exploration, including exploratory drilling at the La Victoria Gold Property (“La Victoria”) in the North-Central Mineral Belt of Peru. EHR Resources Limited (“EHR”), which currently holds a 10% interest through its Peruvian subsidiary and is earning up to a 25% interest in La Victoria, has notified Eloro that it is proceeding with the Stage 2 Earn-in period described further below. Eloro’s Peruvian subsidiary currently owns a 90% interest in La Victoria.
Eloro Resources Ltd. (TSX-V:ELO) (FSE:P2Q) (“Eloro” or the “Corporation”) is pleased to announce that it has completed 2,261m of reconnaissance diamond drilling in 8 holes at the Rufina Target on the La Victoria Au Property in the North-Central Mineral Belt of Peru. Figure 1 is a plan map showing locations of the drill holes and hole traces. Holes ERU-01, -02, -03, -04 and -09 are on a NE-SW cross section approximately 800m long. Holes ERU-06, -07 and -08 are on a parallel cross section 500m long approximately 100m north of the first section. Significant values are shown in Table 1 below. Highlights include (all core lengths):