Eloro Resources Announces the Commencement of Expansion Diamond Drilling Program Based on Positive Updated MRE Results at Its Iska Iska Project, Southern Bolivia
Key Program Objectives:
Tag: Iska Iska property
Eloro Resources Reports Substantial Resource Growth in Updated Mineral Resource Estimate at Its Iska Iska Project, Potosi Department, Southwestern Bolivia
Updated MRE Outlines an Indicated Category of 85.17 million tonnes grading 40 g/t Ag, containing 109.53 million ounces of silver, 1.03 million tonnes zinc grading 1.21% Zn, 0.60 million tonnes of lead grading 0.71% Pb and an Inferred Category of 945.43 million tonnes grading 8.5 g/t Ag, containing 248.60 million ounces silver, 4.72 million tonnes zinc grading 0.47% Zn, 1.50 million tonnes lead grading 0.16% Pb, 290,000 tonnes tin grading 0.03% Sn and 1.21 million ounces gold grading 0.04 g/t Au. Silver grades increased 65% from 24.3 g/t Ag reported in the near-surface Inferred resource category in the 2023 Initial MRE to 40 g/t Ag reported in the Indicated resource category in the 2026 Updated MRE. Key Highlights of the Updated MRE: Initial Indicated Mineral Resource of 85.17 Mt at 40 g/t Ag (109.53 Moz Ag), 1.21% Zn (1.03 Mt Zn), and 0.71% Pb (0.60 Mt Pb). Inferred Mineral Resources in 3 separate metal domains in addition to the Indicated mineral resource: Ag Dominant- 61.92 Mt grading 27 g/t Ag, 0.19% Zn, 0.18% Pb, 0.06% Sn and 0.05 g/t Au; Zn Dominant – 116.03 Mt grading 1.16% Zn, 7g/t Ag, 0.28% Pb, 0.02% Sn and 0.04 g/t Au; and Sn Dominant – 31.01 Mt grading 0.20% Sn, 8 g/t Ag, 0.09% Zn, 0.10% Pb, and 0.04 g/t Au. Inferred Mineral Resource with medium grades in the Polymetallic Domain (Ag-Zn-Pb-Sn) of 13.84 Mt at 15 g/t Ag, 0.73% Zn, 0.43% Pb and 0.04% Sn and 0.07 g/t Au. Inferred Mineral Resource with lower grades in the Polymetallic Domain (Ag-Zn-Pb-Sn) of 722.63 Mt at 7 g/t Ag, 0.40% Zn, 0.14% Pb, 0.02% Sn and 0.04 g/t Au. Overall Inferred Mineral Resource at Iska Iska of 945.43 Mt containing 248.60 Moz Ag, 4.72 Mt Zn, 1.50 Mt Pb, 290,000 t Sn and 1.21 Moz Au, with a 41% increase in total tonnage with respect to the 670 Mt of overall Inferred mineral resources in the Initial 2023 MRE. Silver grades increased 65% from 24.3 g/t Ag of the near-surface higher-grade Inferred resource in the 2023 Initial MRE to 40 g/t Ag in the Indicated category of the Updated 2026 MRE, reflecting the positive impact of the completed 14,085m, 27-hole definition 50m by 50m diamond drill program. The overall tin recovery into a 5% Sn concentrate improved with further metallurgical testing from 50.7% in 2023 to 58.9% in the Updated 2026 MRE.
Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce the updated mineral resource estimate (“Updated MRE”) for the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. The Updated MRE, as set out in Tables 1 to 3 below, has been prepared by independent qualified persons (“QPs”) with Micon International Limited (“Micon”), as defined under National Instrument 43-101 (“NI-43-101”). Micon also authored the inaugural MRE in 2023. A Technical Report outlining the mineral resource estimation will be filed on Sedar within 45 days of the date of this release.
Eloro Resources Announces Closing of Bought Deal LIFE Private Placement for Gross Proceeds of C$17 Million
Eloro Resources Ltd. (TSX: ELO; FSE: P2QM) (“Eloro” or the “Company”) is pleased to announce the closing of its previously announced “bought deal” private placement (the “Offering”) for gross proceeds of C$17,000,360, which includes the exercise in full of the over-allotment option. Pursuant to the Offering, the Company sold 6,538,600 common shares of the Company (the “Common Shares”) at a price of C$2.60 per Common Share (the “Offering Price”). Red Cloud Securities Inc. and Cantor Fitzgerald Canada Corporation acted as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters including Haywood Securities Inc. (collectively, the “Underwriters”) under the Offering.
Eloro Resources Announces Upsize of Bought Deal LIFE Private Placement for Gross Proceeds of C$15 Million
February 25, 2026 / Eloro Resources Ltd. (TSX:ELO)(OTCQX:ELRRF)(FSE:P2QM) (“Eloro” or the “Company”) is pleased to announce that as a result of strong investor demand, the Company and Red Cloud Securities Inc. (“Red Cloud“) have agreed to increase the size of its previously announced “bought deal” private placement (the “Underwritten Offering“) from gross proceeds of C$10,000,120 to gross proceeds of C$15,000,180. Pursuant to the upsized Underwritten Offering, Red Cloud and Cantor Fitzgerald Canada Corporation, as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters (the “Underwriters“), will purchase for resale 5,769,300 common shares of the Company (the “Offered Shares“) at a price of C$2.60 per Offered Share (the “Offering Price“).
Eloro Resources Launches 40,000 Metre Drill Program at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) (“Eloro“, or the “Company“) is pleased to announce that it has signed a contract with Major Drilling Group International Inc. (“Major Drilling“), the world’s leading provider of specialized drilling services in the metals and mining industry, to complete an initial 40,000m drill program at its Iska Iska silver-tin polymetallic project in Potosi, Bolivia (“Iska Iska“). As per the agreement, two drill rigs are currently being mobilized to the project, while a third is expected to be added in the coming weeks.
Eloro Resources Announces the Retirement of Dr. William Pearson as Executive Vice President, Exploration
Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) (“Eloro”, or the “Company”) announces the retirement of Dr. William Pearson, P.Geo. as the Company’s Executive Vice President, Exploration effective March 31, 2026, after which he will remain with the Company as Senior Technical Advisor. He will be retiring after more than 50 years of managing exploration programs across Canada and around the world. Dr. Osvaldo Arce, P.Geo., Eloro’s Executive Vice President, Latin America will assume the responsibilities formerly held by Dr. Pearson.
Eloro Resources Completes Option Payments on the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) (“Eloro“, or the “Company“) is pleased to announce that it has paid all option payments payable to Empresa Minera Villegas SRL (“Minera Villegas“) to complete the option held by its Bolivian subsidiary, Minera Tupiza SRL (“Minera Tupiza“) to acquire a 99% joint venture interest in the Iska Iska silver-tin polymetallic project in Potosí, Bolivia (“Iska Iska“). Eloro made the final payment of US$1,150,000 today and, in accordance with an Addendum to the Option Agreement, Eloro transferred US$1,800,000 into a trust account for payment to Minera Villegas within 12 months after Minera Villegas obtains the mining rights over the Mina Casiterita and Mina Hoyada mining areas. Through a series of strategic regulatory and commercial agreements Minera Tupiza SRL now holds a 99% joint venture interest and has 100% economic participation and full operational control of the Iska Iska project.
Eloro Resources Intersects Highest Silver Interval to Date at its Iska Iska project, Southern Bolivia with 72 metres grading 294.81 g/t Silver within a broader interval of 180 metres grading 164.74 g/t Silver in Hole DSB-93
Highlights: Eloro’s second phase definition diamond drilling program has now been completed with sixteen (16) drill holes drilled totalling 8,286.40 metres across the potential starter pit area (1,000m by 600m by 500m deep). The program has succeeded in confirming continuity and expanding higher-grade silver-tin-polymetallic mineralization in this extensive porphyry-epithermal system. DSB-93, an infill hole drilled 107m northeast of discovery hole DSB-61, intersected the highest silver interval obtained thus far at Iska Iska with 72.00 metres grading 294.81g/t Silver (Ag) and 0.44% Lead (Pb) beginning at 131.70m, within a broader interval of 180.00m grading 165g/t Ag, 0.74% Pb, 0.72% Zinc (Zn) and 0.16% Tin (Sn) beginning at 112.20m. Previously, the highest-grade silver interval was 62.84m grading 279.22 g/t Ag, beginning at 87.44m, in drill hole DSB-61, located 107m southwest of hole DSB-93. This intersection also contained 0.47% Pb and 0.43% Sn (see Eloro Press Release dated December 18, 2023). Hole DSB-93 also intersected the following well mineralized intervals: 28.50m grading 0.84g/t Au, 253.63g/t Ag, 1.10% Pb and 0.57% Sn beginning at 223.20m 33.00m grading 0.18% Sn beginning at 374.70m 7.50m grading 1.43% Cu beginning at 34.20m 7.50m grading 1.25% Zn beginning at 49.20m 6.00m grading 0.54% Pb and 3.09% Zn beginning at 86.70m 8.80m grading 1.45% Zn beginning at 416.70m 3.00m grading 1.68% Zn beginning at 101.70m DSB-90, an infill hole collared 100m east of discovery hole DSB-72 intersected a higher-grade tin section of 51.00m grading 0.24% Sn beginning at 400.00m and a higher-grade silver section of 13.50m grading 106.32g/t Ag and 0.16% Sn beginning at 256.00m, including 7.50m grading 186.50g/t Ag and 0.14% Sn beginning at 256.00m. Hole DSB-90 also intersected higher-grade tin sections of: 24.00m grading 0.57% Sn beginning at 91.00m 16.50m grading 0.36% Sn beginning at 134.50m 22.50m grading 0.20% Sn beginning at 311.50m including 10.50m grading 0.29% Sn beginning at 311.50m 19.50m grading 0.16% Sn beginning at 338.50m 13.50m grading 0.24% Sn beginning at 380.50m Note: True width is approximately 80% of core length.
Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from the last two (2) drillholes (DSB-90 and DSB-93) of the second phase definition diamond drilling program at the Company’s Iska Iska Project, Potosi Department, Southern Bolivia. These two holes were in the predominant Tin Domain and the predominant Silver-Polymetallic Domain, respectively, in the potential Santa Barbara starter pit area. These results further expand the higher-grade footprint of both metal domains (see Figure 1). The current phase of the definition drilling phase has now concluded with a total of 8,286.40m of diamond drilling in sixteen (16) holes completed.
Eloro Resources Further Expands Extent of Potential Starter Pit Zone, Intersecting 90 metres grading 61.05 g/t Silver and 0.20% Tin at its Iska Iska Project, Potosí Department, Southern Bolivia
Highlights: The potential starter pit at the Santa Barbara zone continues to be open laterally and downdip with definition drilling continuing to return long and higher-grade intercepts. Additional infill and step-out drilling offers significant potential to further expand and upgrade the mineral resources for the planned PEA. DSB-92, a step out hole drilled 50m southeast of discovery hole DSB-88, intersected 90.00 metres grading 61.05 g/t Silver (Ag) and 0.20% Tin (Sn), beginning at 492.30m, including: 15.00 metres grading 173.30 g/t Ag, 0.15% Sn and 1.59 g/t Gold (Au), beginning at 517.80m and 49.50 metres grading 50.14 g/t Ag and 0.26% Sn, beginning at 532.80m. Hole DSB-92 also includes long and higher-grade sections of: 238.50 metres grading 1.77% Zinc (Zn) and 0.57% Lead (Pb), beginning at 33.30m, including a silver section of 34.50 metres grading 31.70 g/t Ag, beginning at 33.30m and 204.00 metres grading 2.06% Zn and 0.62% Pb, beginning at 67.80m, DSB-91, an infill hole collared 100 metres northwest of hole DSB-89, intersected several higher-grade silver, tin, and zinc intervals: 64.50 metres grading 37.33 g/t Ag, beginning at 19.50m. 151.50 metres grading 1.41% Zn, 0.63% Pb and 13.35 g/t Ag, beginning at 109.50m, including 31.50 metres grading 34.90 g/t Ag, 1.49% Zn and 0.35% Pb, beginning at 147.00m. 16.50 metres grading 1.02% Sn and 3.17% Pb, beginning at 393.00m and 7.50 metres grading 0.40% Sn, 0.53% Pb and 0.32% Zn, beginning at 469.50m within a longer interval of 136.50 metres grading 0.23% Sn, 0.92% Zn and 0.84% Pb, beginning at 328.50m.
Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce further assay results from two (2) additional drillholes (DSB-91 and DSB-92) of the second phase definition diamond drilling program at the Company’s Iska Iska Project, Potosi Department, Southern Bolivia. Both holes are in the Silver-Zinc-Polymetallic Domain in the potential Santa Barbara starter pit area. These results further expand the footprint of this domain and indicate that the deposit continues to be open to the east (see Figure 1). The current phase of the definition drilling phase has concluded with a total of 8,286.40m of diamond drilling in sixteen (16) holes completed. A total of 7,346.90m was completed in the fourteen (14) reported holes, with assay results pending for two remaining holes totaling 939.50m in length.
Eloro Resources Ltd. Intersects the Longest Zinc Interval to Date at its Iska Iska Project, Potosí Department, Bolivia with 456 Metres Grading 1.72% Zn including 190.5m grading 2.35% Zn in Hole DSB-88
Highlights: This intersection in Hole DSB-88 is the longest zinc interval discovered to date at Iska Iska and is also outside the current resource limit further expanding the Silver-Zinc (Ag-Zn) Epithermal Domain located in the eastern margin of the potential Santa Barbara starter pit. DSB-89, a step-out hole collared 50m northwest of hole DSB-88, intersected a number of higher grade silver, tin and zinc intervals: 13.50m grading 74.64 g/t Ag, 0.81% Pb, 0.24% Sn beginning at 50.8m; 19.50m grading 41.52 g/t Ag, 0.88% Zn beginning at 74.8m; 33.00m grading 28.96 g/t Ag, 0.75% Pb and 2.36% Zn beginning at 103.30m; 20.25m grading 19.61 g/t Ag, 1.29% Pb and 2.38% Zn beginning at 136.30m; and 24.75m grading 0.45% Pb, 1.80% Zn beginning at 156.55m. Further downhole DSB-89 intersected additional higher-grade sections of: 16.50m grading 81.94 g/t Ag, 1.78% Pb, 1.37% Zn and 0.15% Sn beginning at 392.80m; 118.50m grading 0.68% Pb and 1.31% Zn beginning at 200.80m; 76.50m grading 38.69g/t Ag, 0.79% Pb and 0.93% Zn beginning at 359.80m and 27.00m grading 49.87g/t Ag, 0.47% Pb and 1.13% Zn beginning at 409.30m;
Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce further assay results from two (2) step-out drillholes (DSB-88 and DSB-89) of the second phase definition diamond drilling program. Both holes are in the Silver-Zinc-Polymetallic Domain in the potential Santa Barbara starter pit area. These results further expand the footprint of this domain and indicate that the deposit continues to be open to the east (see Figure 1). To date, a total of 6,756m of diamond drilling in fourteen (14) holes has been completed in the current definition drilling phase. A total of 3,371m was completed in the seven (7) reported holes, with assay results pending for one remaining hole totaling 514m in length.