I think it is fair to say that Eloro (V.ELO) CEO Tom Larsen is excited by what the company is finding at its Iska Iska Property in Southern Bolivia. The announcement of a second major mineralized breccia pipe approximately 400m in diameter confirmed Larsen’s belief that Iska Iska may have significant tonnages of commercially viable material.
- Drill Hole DHK-14 drilled at -10 degrees to the southwest of Huayra Kasa workings from Drill Bay #3 intersected almost 180m of silicified and mineralized breccia in the Santa Barbara Breccia Pie. Hole ended in well-mineralized breccia once the drill reached its depth capacity and only penetrated approximately 50% of the breccia pipe.
- Channel sampling in 2019 at the north-western end of the Santa Barbara adit returned 0.32 g Au/t, 26.90 g Ag/t, 1.16% Pb, 28.5 g In/t and > 500ppm Sn along the margin of this pipe.
- A third potential breccia pipe immediately to the south, the Central Breccia Pipe, identified by surface geological mapping and Aster satellite data, is elongate in shape with potential dimensions of approximately 400m by 700m;
- Five (5) additional potential breccia pipe targets outlined further to the south and east; all confirmed and potential breccia pipes occur along ring structures in the margins of the Iska Iska caldera complex.
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that diamond drilling has confirmed the presence of a second major breccia pipe southwest of the Huayra Kasa underground workings as shown in Figure 1. Drill Hole DHK-14 drilled at -10 degrees to the southwest of the underground workings from Drill Bay #3 intersected almost 180m of silicified and mineralized breccia from 151m to 330m in the Santa Barbara Breccia Pipe. This hole stopped in well-mineralized breccia at the maximum limit of the drilling range and only penetrated approximately 50% of the breccia pipe. Assays are pending. A field XRF analyser indicates the presence of lead (Pb) and zinc (Zn) predominantly before and in the periphery of the breccia transitioning to copper (Cu), bismuth (Bi) and tin (Sn) in the central part. However, the numbers measured are not quantitatively accurate hence cannot be reported. Note that silver (Ag) and gold (Au) cannot be detected by this instrument.
Geological Plan Map with Drill Holes, Huayra Kasa Zone, Iska Iska ProjectFigure 1
Geological W-E Cross Section, looking north, Huayra Kasa Zone, Iska Iska ProjectFigure 2
Channel Sampling Plan Map Au-Bi, Huayra Kasa Underground, Iska Iska ProjectFigure 3:
Channel Sampling Plan Map Ag-Zn-Pb, Huayra Kasa Underground, Iska Iska ProjectFigure 4
Geology of Southern Bolivia in Iska Iska Area showing locations of Mines and Major Polymetallic Mineral DepositsFigure 5
- Number of extensive mineralized intersections in holes within major breccia pipe including 54.48 g Ag/t, 1.45% Zinc (Zn) and 1.60% Lead (Pb) over 16.39m (140.91 g Ag eq/t) within a broader interval of 122.74m grading 14.29 g Ag/t, 0.81% Zn and 0.41% Pb (53.67 g Ag/t eq) in Hole DHK-04;
- High Grade Gold-Bismuth zone averages 7.1 g Au/t and 0.2% Bi (8.29 g Au eq/t) over 3.04m width for strike length of 47m in underground workings and is open along strike to the north.
- 6.51g Au/t, 0.07% Bi and 31.96 g Ag/t (7.68 g Au eq/t) over 11.85m grading including 29.56 g Au/t,0.26% Bi/t and 63.69 g Ag/t (31.94 g Au eq/t) over 2.31m intersected in Hole DHK-05 on the strike extension of the high-grade Au-Bi zone.
TORONTO, Nov. 18, 2020 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that Minera Tupiza S.R.L., Eloro’s Bolivian subsidiary has completed 13 diamond drill holes totalling 2,898 metres of both underground and surface drilling at its optioned Iska Iska property in the Potosí Department of southern Bolivia. This is the first drilling ever carried out on the property. Figure 1 is a plan map showing locations of drill holes along with geology and alteration. Results from Hole DHK-01 to DHK-05 are reported in this press release; results for the other holes are pending. Due to the polymetallic nature of the deposit, silver equivalent (“Ag eq”) and where applicable gold equivalent (“Au eq”) values have been included for comparative purposes.
Tom Larsen, CEO of Eloro Resources (V.ELO), is waiting, somewhat patiently, for the results of drilling at the company’s Iska Iska project in Southern Bolivia. Eloro signed the Iska Iska deal in January and the drills are turning.
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that Minera Tupiza S.R.L., Eloro’s Bolivian subsidiary has staked nine (9) additional properties (known as “Mining Areas” under Bolivian law) covering a total of 311.75 square kilometres in the Potosí Department, southern Bolivia where Iska Iska is located as shown in Figure 1. The geological characteristics and target mineralization of these properties are summarized in Table 1. Figure 2 shows the regional geology in the area of the new properties. The properties are located on prominent ASTER (Advanced Spaceborne Thermal Emission and Reflection Radiometer) anomalies with a similar hydrothermal alteration signature to that of Iska Iska. The Tup-5 property ties directly onto the Iska Iska property.
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2Q) (“Eloro”, or the “Company”) is pleased to announce it has qualified to trade on the OTCQX® Best Market. Eloro upgraded to OTCQX from the Pink® market.
Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro”, or the “Company”) is pleased to announce that its Bolivian subsidiary Minera Tupiza S.R.L. has completed the three (3) underground drill bays in the Huayra Kasa Mine required for the planned 3,500m underground diamond drilling program on its optioned Iska Iska Polymetallic Project in Potosi Department, southern Bolivia. The Company and contractor Empresa Minera Villegas S.R.L. have implemented safeguards to protect personnel from COVID-19. Minera Tupiza S.R.L. has received clearance from the Government of Bolivia for travel to Tupiza. Drilling will be carried out by Leduc Drilling S.R.L. and is expected to commence in early September. All workings will be systematically geologically mapped and channel sampled prior to commencement of the drill program.
Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the “Corporation”) is pleased to announce the signing of a new investor relations agreement (the “Agreement”) aimed at enhancing the Corporation’s shareholder base and ongoing investor communications initiatives.
Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the “Corporation”) is pleased to announce it has completed a previously announced non-brokered private placement (the “Private Placement”) of 2,200,000 units of Eloro at a price of $0.25 per unit (“Units”) for gross proceeds of $550,000.