Eloro Resources Announces up to C$3.96 Million Non-Brokered Prospectus Exempt Offering Pursuant to the Listed Issuer Exemption

ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,

TORONTO, March 13, 2024 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (“Eloro” or the “Company”) (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce a non-brokered prospectus exempt offering (the “Offering”) of up to 3,300,000 units of the Company at a price of C$1.20 per Unit for gross proceeds of up to C$3,960,000, pursuant to the listed issuer financing exemption available under Part 5A of National Instrument 45-106 – Prospectus Exemptions (the “Listed Issuer Exemption”). There is an offering document relating to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and at www.elororesources.com. Prospective investors should read this offering document before making an investment decision. read more

Eloro Resources Amends Payment Schedule for Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that, by mutual agreement with Empresa Minera Villegas S.R.L. (“Minera Villegas”), the title holder of the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia (“Iska Iska”), the payment schedule in connection with the remaining portion of the aggregate US$10 million payment required for Eloro to earn a 100% interest in Iska Iska has been amended. read more

Eloro: Bulk Sampling for Bulk Mining…and a New, Huge, Target

Eloro, ELO.T, silver, tin, zinc, Bolivia
IP at Iska Iska

The metallurgical drill holes used at Iska Iska are larger diameter than the regular diamond drill exploration holes. For Eloro (ELO.T) and its CEO, Tom Larsen, this makes all the difference. “The more the better,” said Larsen in a telephone interview. “The Iska Iska minerals are mainly disseminated in stockworks and veinlets. A bulk sample is much more representative of the grades you will encounter when you mine the deposit.” read more

Expanded IP Surveys Outline an Additional 600m Strike Length to the Major Mineralized Corridor at Eloro Resources’ Iska Iska Project, Potosi Department, Southwestern Bolivia

New chargeability high southeast of the MRE open pit 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. Chargeability highs correlate very well with areas of high-grade mineralization within the MRE. The chargeability anomaly southeast of the pit is very strong, which is a prime target potentially outlining additional higher-grade polymetallic (Ag-Zn-Pb) mineralization. The Chargeability anomaly is open along strike and at depth as exploration work has still not defined the full limits of this remarkable mineralized system.
V.ELO, Eloro Resources, Peru, gold, Tom Larsen
Cross Section along Line 56100N of the Chargeability Anomaly with areas with greater than 50 g Ag eq/t superimposed to show the very strong correlation.  The strong anomaly to the southeast is largely outside the open pit defining the MRE and this area has not been drilled.  Figures 2 and 3 show the location of the section line.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that an expanded induced polarization/resistivity (IP/Res) survey now covers most of the Iska Iska Project, Potosi Department, Southwestern Bolivia. East-west lines have been completed every 200m across and southeast of the Santa Barbara mineral resource using a deep-penetrating array of 50m and offset 100m dipoles to obtain a depth of investigation approaching 400m. The new array and lower surface elevations make it possible to image mineralization at elevations below 3600m in an extension beyond the open southeastern side of the pit that defines the initial mineral resource estimate (“MRE”) (see Eloro press release dated October 17, 2023). In this survey, chargeability highs across the volume already drilled for the Santa Barbara MRE coincide with peaks in the grade of the polymetallic Ag-Zn-Pb mineralization expressed as silver equivalent. read more

Bulk Tonnage Metallurgical Tests Return Significantly Higher Silver Head Grade of 91 g Ag/t Compared with the 31 g Ag/t Average Grade from the Original Twinned Holes in the Polymetallic Domain at Iska Iska, Potosi Department, Southwestern Bolivia

Metallurgical tests 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 The metallurgical tests confirm the viability of “Ore-Sorting” and Dense Media Separation at Iska Iska Project. Excellent pre-concentration results from the higher grade Polymetallic (Ag-Zn-Pb) Domain are now proven in a bulk sample. The 91.9% recovery of silver and lead with 76.0% recovery of zinc into a high grade (176g/t Ag, 1.88%Pb, 2.86%Zn = 299.15 g Ag eq/t) potential mill feed stream that contains only 46.6% of the Run of Mine Tonnage. The introduction of the pre-concentration stage allows Eloro to have more operational flexibility based upon conducting economic trade off scenarios between reducing downstream capital-operating costs and optimizing overall metal recoveries. XRT Ore Sorting is proposed for the coarser size fractions and Dense Media Separation (“DMS”) for treatment of the finer fractions so as to pull on the strengths of both technologies. The size split between the two technologies is unoptimized and the current results support the ability to potentially “ore sort” slightly coarser rocks than tested which would further increase the overall benefits of pre-concentration. Tin (Sn), although not included in the 132 million tonnes higher-grade starter pit area (MRE), is expected to potentially contribute to the enhanced values in the initial Preliminary Economic Assessment (“PEA”) with additional metallurgical testing and infill drilling.
ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
Cross Section of MRE Block Model showing Locations of Metallurgical PQ Holes and Original Holes Twinned

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce the final results of its bulk metallurgical test program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. read more

Cartier Provides Update on its Chorrillos Project, Southern Bolivia

Cartier Silver Corporation (CSE: CFE) (“Cartier Silver” or the “Company”) is pleased to report that through its Bolivian subsidiary, Minera Cartier Bolivia S.R.L. (“Cartier Bolivia”), it has acquired 30% of the capital quotas (the “Acquisition”) of Empresa Minera Gonalbert S.R.L. and Empresa Minera Segovia S.R.L. (the “Vendors”), who are the registered title holders of two separate properties, the Gonalbert Mining Area and Felicidad Mining Area, both part of the Company’s Chorrillos Project, located in Southern Bolivia. read more

Eloro Resources Intersects 57.62g Ag/t, 1.26% Zn, 0.94% Pb and 0.12% Sn (139.94g Ag eq/t) over 136.11m in Definition Drilling at the Iska Iska Project, Potosi Department, Southwestern Bolivia

Hole DSB-66 above also returned other well mineralized intersections including: 24.67g Ag/t, 1.08% Zn, 0.83% Pb and 0.08% Sn (94.46g Ag eq/t) over 86.39m, and 7.46g Ag/t, 2.51% Zn, 1.02% Pb and 0.06% Sn (129.90g Ag eq/t) over 74.85m Hole DSB-65 intersected 118.86g Ag/t*, 0.35% Zn, 0.35% Pb and 0.15% Sn (152.29g Ag eq/t*) over 81.28m including 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 This very high-grade sample highlights the potential for Iska Iska to host extraordinary grades within the overall extensive mineralized system. Hole DSB-63, the eastern most hole in the definition drill program, intersected a significant Sn intersection of 23.37 g Ag/t, 1.77% Zn. 1.22% Pb and 0.51% Sn (205.57g Ag eq/t) over 23.02m. This area is in the Polymetallic (Ag-Zn-Pb) Domain where Sn values have typically been low. This suggests potential to extend the higher-grade Sn zone further east. The definition drill program has expanded both the higher-grade Sn and Ag zones especially to the west where there has been only limited previous drilling. These new data highlight the potential to upgrade and expand the mineral resource particularly by outlining a significant higher-grade Sn resource to include for consideration in the preliminary economic assessment (“PEA”). * Cutting of this very high Ag sample to 1,000g Ag/t, based on a statistical probability plot, yields a still high average for the 81.28m interval of 45.58 g Ag/t with an overall grade of 87.80 g Ag eq/t
ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
Location Map of Definition Drill Holes, Santa Barbara, Iska Iska.  Holes in this release are highlighted in yellow circles.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce the final assay results for the last six (6) diamond drill holes in its eleven (11) hole 5,267.7m definition drill program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. read more