Tag: Iska Iska property

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

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

Eloro Resources Ltd. (TSX-V: 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 US$10 million payment required for Eloro to earn a 99% interest in Iska Iska has been amended. read more

Eloro Resources Intersects 150.47 g Ag eq/t (9.45 g Ag/t, 1.53% Zn, 0.88% Pb and 0.07% Sn) over 441.21m in High-Grade Feeder Zone in Santa Barbara Target Area at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

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ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
  • This intersection in hole DSB-30 includes a higher-grade portion grading 209.30 g Ag eq/t (10.06 g Ag/t, 2.76% Zn, 0.98% Pb and 0.07% Sn) over 102.30m. This hole has the longest continuously mineralized intersection obtained in drilling thus far.
  • Hole DSB-32, drilled on-section to the southeast with hole DSB-30 intersected 185.94 g Ag eq/t (44.55 g Ag/t, 0.57% Pb, 0.14% Cu and 0.25% Sn) over 135.15m including a higher-grade section of 277.34 g Ag eq/t (78.12 g Ag/t, 0.09 g Au/t, 1.01% Pb, 0.27% Cu and 0.33% Sn) over 66.04m.
  • Hole DSB-29 returned 108.31 g Ag eq/t (14.31 g Ag/t, 0.81% Zn and 0.40% Pb) over 110.40m and hole DSB-28 returned 98.98 g Ag eq/t (4.41 g Ag/t, 1.16% Zn and 0.49% Pb) over 96.51m; all holes testing the high-grade feeder zone.
  • Final underground hole DSBU-11 from the Santa Barbara adit intersected 96.24 g Ag eq/t (14.93 g Ag/t, 0.44% Zn and 0.68% Pb) over 128.33m and 85.85 g Ag eq/t (15.76 g Ag/t, 0.55% Zn, 0.13% Pb and 0.08%Sn) over 174.76m. Hole DSBU-09 intersected 136.48 g Ag eq/t (7.20 g Ag/t, 0.14 g Au/t, 2.47% Zn and 0.63% Pb) over 72.33m and 138.75 g Ag eq/t (13.05 g Ag/t, 0.11 g Au/t, 1.66% Zn and 0.42% Pb) over 72.20m.
  • New downhole geophysical data have significantly extended the strike length of the high-grade feeder zone at Santa Barbara a further 250m along strike to the south-southeast from existing drilling.
  • The 3D inverse magnetic model which correlates very strongly with the conductive zone suggests that the high-grade feeder zone may extend across the entire caldera for as much as a further 1 km along strike for a total potential strike length of at least 2 km. Drilling in the Porco area intersected significant values over short intervals on the edge of this conductive zone.
  • The definition drill program has now been modified to sectionally drill this potential extension with the intention of defining a major open pittable deposit in the valley of the caldera. As a result, the estimated completion date for the maiden National Instrument 43-101 mineral resource has been pushed back to the end of Q1 2023.

TORONTO, Sept. 20, 2022 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from twenty-one (21) diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Five (5) surface holes (DSB-28 to DSB-30, DSB-32 and DHK-25) tested the high-grade feeder zone in Santa Barbara which was also tested by two (2) underground holes (DSBU-09 and DSBU-011). Six (6) holes (DSB-16 to DSB-19, DSB-23 and DSB-27) tested the northwest extension of Santa Barbara. Eight (8) holes (DPC-04 to DPC-08 and DPC-10 to DPC-12) are reported for the Porco area. Five surface drills are focused on completing drilling in the Santa Barbara Resource Definition Drilling Area and its extension to the south-southeast. This press release also outlines a major update on the geophysical surveys which have greatly expanded the higher-grade feeder area target zone to the south-southeast. read more

Eloro Resources’ Announces Launch of its Virtual Site Tour of the Iska Iska Silver-Tin Polymetallic Project in southern Bolivia on the VRIFY Technology Inc. (VRIFY) Platform

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

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce the launch of its Virtual Site Tour utilizing the VRIFY Technology Inc. (“VRIFY”) platform to showcase the Iska Iska silver-tin polymetallic project in the Potosi District of southern Bolivia. The VRIFY platform will assist investors to better understand the scale and extent of Eloro’s major discovery at Iska Iska. In particular, the presentation highlights grade shell modelling in Leapfrog of the higher-grade feeder zone at Santa Barbara which has been the focus of recent drilling. As the drilling program progresses, Eloro will regularly update VRIFY to illustrate how new drilling results are advancing the project and leading to an inaugural NI 43-101 mineral resource estimate, expected in Q4 2022. read more

Eloro Resources’ Deep Underground Hole DSBU-10 Intersects 188.64 g Ag eq/t (44.75 g Ag/t, 0.08 g Au/t, 1.05% Zn, 0.76% Pb and 0.14% Sn) over 349.08m in Core of Feeder Zone in the Santa Barbara Target Area at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

Hole DSBU-10 drilled at azimuth 400 and a dip of -600, is the highest grade, longest intersection thus far at Iska Iska and includes the highest grade Ag to date of 44.75 g Ag/t over 349.08m. Notably, 59% of the overall length of this 878.9m long hole yielded reportable intersections which collectively average 160.14 g Ag eq/t. Hole DHK-24, collared at surface near Huayra Kasa approximately 100m SE of Hole DSBU-10 and drilled to the SW at -600 intersected multiple intersections including 114.62 g Ag/t (17.89 g Ag/t, 0.04 g Au/t, 1.58% Zn, 0.62% Pb and 0.05% Sn) over 112.91m, 84.31 g Ag eq/t (2.61 g Ag/t, 0.10 g Au/t, 1.22% Zn and 0.21% Pb) over 162.48m, 120.0 g Ag eq/t (5.51 g Ag/t, 0.09 g Au/t, 1.71 %Zn and 0.34%Pb) over 65.73m and 110.91 g Ag eq/t (43.67 g Ag/t, 0.07 g Au/t, 0.35% Zn, and 0.10 % Sn) over 177.86m. Notably, 62% of the overall length of this 926.3m long hole yielded reportable intersections which collectively average 110.70 g Ag eq/t. The major feeder zone at Santa Barbara remains open to the southeast where further drilling is now in progress. Note that metal prices for the Ag equivalent calculation have been updated to reflect current metal prices.
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ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from two (2) additional diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Hole DSBU-10 is an underground hole drilled at azimuth 400 at -600 dip across the higher-grade feeder zone. Hole DHK-24 is a surface drill hole collared near Huayra Kasa approximately 100m SE of Hole DSBU-10 and drilled to the SW at -600. Four drills including three surface drills and one underground drill are focussed on completing drilling in the Santa Barbara Resource Definition Drilling Area. A fourth surface drill has been added to further expand drilling capacity. read more

Eloro Resources Provides Update on the Preliminary Metallurgical Testwork Program for the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

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

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to provide an update on its preliminary metallurgical testwork program for the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. The work program including testwork for development of a preliminary metallurgical flowsheet and preliminary mineralogical characterization, is being carried out by Blue Coast Research Ltd. (“Blue Coast”) based in Parksville, BC. The objective is to develop the preliminary flotation flowsheet to maximize lead, zinc and precious metals into saleable concentrates in the Santa Barbara polymetallic deposit and to develop a preliminary flowsheet for tin in both the Santa Barbara and the deeper tin-dominant mineralization. read more

Peter Marrone Appointed to the Position of Senior Corporate Advisor to Eloro Resources Ltd.

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

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro” or the “Corporation”) is pleased to announce that Mr. Peter Marrone, a shareholder of Eloro, has agreed to serve as an independent advisor to provide support and strategic advice to management on matters of project advancement and business development in relation to its Iska Iska project. read more

Eloro Resources Intersects 160.00 g Ag eq/t (27.37g Ag/t, 0.62% Zn, 0.52% Pb and 0.11% Sn) over 251.87m and 133.45 g Ag eq/t (19.10g Ag/t, 0.20 g Au/t, 0.42% Zn, 0.64% Pb and 0.08% Sn) over 289.45m in the Santa Barbara Target area at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

These new drill results combined with previously released drill results for the underground drilling are defining a potential major feeder structure for the Ag-Sn polymetallic mineralization in the Santa Barbara Adit area. Bore Hole Induced Polarization (BHIP) surveys to a depth of almost 1,000m indicates that the conductivity increases with depth indicating that this potential feeder zone could be substantive.
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ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from an additional four (4) diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Holes DSBU-08, DSBU-07 and DSBU-04 are underground holes drilled from the Santa Barbara adit to test the southwestern and southern extension of the higher-grade mineralized zone. Surface drill hole DSB-26 tested the northwest extension of the Santa Barbara mineralized zone approximately 800m northwest of the Santa Barbara adit underground drill bay. Drilling is currently focussed primarily on the Santa Barbara Resource Definition Drilling Area with two surface drills and one underground drill. One surface drill is completing holes in the Porco area to test for a potential tin porphyry as suggested by the 3D inverse magnetic model (see Eloro press release dated March 1, 2022). read more

Eloro Resources Closes C$9.775 Million Bought Deal Financing

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V.ELO, Eloro Resources, Peru, gold, Tom Larsen

Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that it has closed its previously announced bought deal financing of 3,007,710 units of the Company (the “Units”) at a price of C$3.25 per Unit for gross proceeds to the Company of C$9,775,057.50 (the “Offering”). The Offering was underwritten on a bought deal basis by Cormark Securities Inc. as underwriter (the “Underwriter”), pursuant to an underwriting agreement dated May 16, 2022 between the Company and the Underwriter. Haywood Securities Inc. participated as a special selling group member in connection with the Offering. The Offering included the exercise in full by the Underwriter of the over-allotment option granted by the Company pursuant to the terms of the Offering. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire an additional Common Share at a price of C$4.75 for a period of 24 months following the closing of the Offering. read more

Eloro Resources Announces Upsized Bought Deal Financing To C$8.5

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

Eloro Resources Ltd. (the “Company” or “Eloro“) (TSXV: ELO) (OTCQX: ELRRF) (FSE: P2QM) is pleased to announce that in connection with its previously announced bought deal financing, the Company and Cormark Securities Inc., (the “Underwriter“) have agreed to increase the size of the previously announced financing. The Underwriter has agreed to purchase, on a bought deal basis, 2,615,400 units of the Company (the “Units“) at a price of C$3.25 per Unit for gross proceeds to the Company of approximately C$8.5 million (the “Offering“). Each Unit will consist of one common share in the capital of the Company (each a “Common Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“) of the Company. Each Warrant shall entitle the holder to acquire an additional Common Share at a price of C$4.75 for a period of 24 months following the closing of the Offering. read more

Eloro Resources Files Updated NI 43-101 Technical Report on Iska Iska Project

Eloro Resources Also Announces Filing of Final Base Shelf Prospectus
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ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,

Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that it has filed on SEDAR an updated technical report (“Technical Report”) on the Company’s Iska Iska silver-tin polymetallic project, prepared by Micon International Limited (“Micon”) and in accordance with National Instrument 43-101. read more