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

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

Eloro Resources Intersects 279.22 g Ag/t, 0.47% Pb and 0.43% Sn (339.82g Ag eq/t) over 62.84m in Definition Drilling at the Iska Iska Project, Potosi Department, Southwestern Bolivia

Hole DSB-61 above also returned other well mineralized intersections as follows: 33.83 g Ag/t, 1.53% Zn, 0.93% Pb and 0.14% Sn (130.88g Ag eq/t) over 178.99m including 120.37 g Ag/t, 2.13% Zn, 1.57% Pb and 0.19% Sn (252.19g Ag eq/t) over 18.25m,175.23 g Ag/t, 2.44% Zn, 0.56% Pb and 0.12% Sn (275.45g Ag eq/t) over 9.11m and 17.03 g Ag/t, 4.13% Zn, 1.30% Pb and 0.15% Sn (217.71g Ag eq/t) over 19.48mm Significant results from additional definition drill holes include: 51.19g Ag/t, 0.75% Zn and 0.44% Pb (98.85g Ag eq/t) over 55.93m including 31.65g Ag/t, 3.19% Zn, 1.21% Pb and 0.19% Sn (203.15 g Ag eq/t) over 10.55m and 192.2 g Ag/t (178.76 g Ag eq/t) over 7.46m (DSB-59) 43.68 g Ag/t, 0.42% Zn, and 0.38% Pb (71.70g Ag eq/t) over 74.53m, 132.33 g Ag/t, 0.23% Zn and 0.25% Pb (136.70 g Ag eq/t) over 15.14m and 55.25 g Ag/t, 0.96% Zn, 0.83% Pb and 0.26% Sn (149.47 g Ag eq/t) over 10.58m (DSB-57) 7.84g Ag/t, 1.51% Zn and 0.64% Pb (85.39g Ag eq/t) over 265.89m including 25.65 g Ag/t, 2.24% Zn and 1.77% Pb (160.16g Ag eq/t) over 45.23m and 110.92 g Ag/t (107.98 g Ag eq/t) over 21.25m (DSB-62) These latest drill hole results are most encouraging as they are demonstrating substantive higher-grade intervals, especially for silver, in the potential starter pit mineral resource area that may now be potentially upgraded and expanded.
V.ELO, Eloro Resources, Peru, gold, Tom Larsen
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 first assay results from five (5) of the 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

Eloro Resources Files NI 43-101 Technical Report for Initial Mineral Resource Estimate for Iska Iska Project, Potosi Department, Southwestern Bolivia

Due to the multi-metal nature of the deposit, the resources are reported using Net Smelter Return (NSR) cut-off values which are as follows: Polymetallic Domain (Zn-Pb-Ag) = US$9.20/t for open pit (OP) mining and US$34.00/t for underground (UG) mining; Tin Domain (Sn-Ag-Pb) = US$6.00/t for OP mining. Costs have been significantly reduced due to the major impact of the positive “ore-sorting” tests. Potentially open pittable inferred mineral resource in Polymetallic Domain (Zn-Pb-Ag) of 541 million tonnes grading 0.69% Zn, 0.28% Pb and 13.6 g Ag/t with an NSR value of US$20.32/t at an NSR cut-off of US$9.20/t which is equal to the estimated operating cost. Polymetallic Domain includes a core inferred mineral resource at an NSR cutoff of US$15/t of 342 million tonnes grading 0.85% Zn, 0.35% Pb and 17 g Ag/t with an NSR value of US$25.22/t which is 2.74 times estimated operating cost of US $9.20/t This core mineral resource includes a higher grade near surface inferred mineral resource at an NSR cut-off of US25/t of 132 million tonnes grading 1.11% Zn, 0.50% Pb and 24.3 g Ag/t with an NSR value of US$34.50/t which is 3.75 times estimated operating cost of US $9.20/t Potentially open pittable inferred mineral resource in the Tin Domain (Sn-Pb-Ag) of 110 million tonnes grading 0.12% Sn, 0.14% Pb and 14.2 g Ag/t with an NSR value of US$12.22/t at an NSR cut-off of US$6.00/t Potential underground inferred mineral resource in the Polymetallic Domain of 19 million tonnes grading 1.88% Zn, 0.36% Pb and 18.8 g Ag/t with an NSR value of US$42.23 at an NSR cut-off of US$34.40/t. The open pit and underground NSR cut-off grades defining the overall mineral resource consider estimated mining costs, G&A expenses, processing costs, metallurgical recoveries, smelter deductions, treatment charges, penalties, and transportation costs for all metals of potential economic interest and, accordingly, are equal to estimated total operating costs. Potential open pit defining the bulk of the mineral resource is 1.4km in diameter, extends to a maximum depth of 750m below the Santa Barbara hill and has a stripping ratio of 1:1. Total in situ metal is estimated to be 298 million ounces Ag (silver), 4.09 million tonnes Zn (zinc), 1.74 million tonnes Pb (lead) and 130,000 tonnes Sn (tin). Resource estimate is based on 139 diamond drill holes totalling 96,386m. All holes intersected significant reportable mineralization and the deposit is open in all directions.
V.ELO, Eloro Resources, Peru, gold, Tom Larsen
3D Perspective of the Iska Iska Pit Constrained Resource Showing Distribution of Resources in Major Domains as of August 19, 2023.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce the filing of the National Instrument 43-101 (NI 43-101) Technical Report in support of the initial mineral resource estimate (“MRE”) for the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. The MRE, as set out in Table 1 below, has been prepared by independent qualified persons (“QPs”) with Micon International Limited as defined under NI-43-101. read more

Eloro Resources Announces Commencement of Preliminary Economic Assessment (PEA) for Iska Iska Project, Potosi Department, Southwestern Bolivia

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

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce commencement of a preliminary economic assessment (“PEA”) for the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. The PEA study will consider the inferred mineral resource estimate (“MRE”) of 560 million tonnes grading 13.8 g Ag/t, 0.73% Zn and 0.28% Pb in the Polymetallic (Ag-Zn-Pb) Domain and 110 million tonnes grading 0.12% Sn, 14.2 g Ag/t and 0.14% Pb in the Tin Domain (Sn-Ag-Pb). While the Polymetallic Domain and the Tin Domain do not overlap or share any resource blocks, for the purposes of the PEA the mineral resources within both domains will be combined. read more

Cartier Silver Intersects 49.19 g Ag/t, 1.35% Zn and 1.31% Pb over 44.76m in Discovery Hole on the Gonalbert Property, Potosi Department, Southern Bolivia

This zone includes a higher-grade interval of 137.42 g Ag/t, 7.91% Zn and 5.6% Pb over 5.60m Other significant intersections in the Discovery Hole include: 57.74 g Ag/t and 1.75% Pb over 18.25m including 79.90 g Ag/t and 2.53% Pb over 6.63m 109.54 g Ag/t, 3.68% Zn and 4.44% Pb over 11.09m including 170.01 g Ag/t, 2.51% Zn and 7.00% Pb over 5.81m Channel sampling of the underground artisanal workings at Gonalbert returned the highest-grade values from the lower levels including 245.5 g Ag/t over 1.5m, 492.0 g Ag/t over 0.7m and 123.9 g Ag/t over 1.5m Surface rock geochemical sampling has defined an extensive area of anomalous Ag and Pb extending for a strike length of approximately 2km that correlates well with the IP chargeability trends.
Geology Plan Map of Gonalbert Property Showing Locations of Diamond Drill Holes and Artisanal Mine Workings

Cartier Silver Corporation (CSE: CFE) (“Cartier Silver” or the “Company”) is pleased to report the first results from diamond drilling to test geological and geophysical targets for epithermal Ag-Pb-Zn mineralization on the Gonalbert Property, Potosi Department, Southern Bolivia. The initial program as previously reported (see Cartier Silver press release of June 29, 2023) consists of 5 drill holes totaling 3,300m collared in the general vicinity of the artisanal silver mine. To date 729.5m of drilling have been completed in two holes with a third hole in progress (Figure 1). Results have been received for drill hole DGL-01 as outlined in Table 1. Collar locations and orientations of these holes are listed in Table 2 below. read more

Eloro Resources Announces Robust Initial Inferred Mineral Resource Estimate of 670 million tonnes containing 1.15 Billion In-situ Ounces Silver Equivalent for Iska Iska Project, Potosi Department, Southwestern Bolivia

Total in situ metal estimated to be 298 million ounces Ag, 4.09 million tonnes Zn, 1.74 million tonnes Pb and 130,000 tonnes Sn totalling 1.15 billion ounces silver equivalent. Due to the multi-metal nature of the deposit, the resources are reported using Net Smelter Return (NSR) cut-off values which are as follows: Polymetallic (Zn-Pb-Ag) domain = US$9.20/t for open pit (OP) and US$34.00/t for underground (UG) mining; Tin (Sn-Ag-Pb) domain = US$6.00/t for OP mining. Costs have been significantly reduced due to the major impact of the positive “ore-sorting” tests. Potentially open pittable inferred mineral resource in Polymetallic Domain (Zn-Pb-Ag) of 541 million tonnes at 0.69% Zn, 0.28% Pb and 13.6 g Ag/t for an NSR value of US$20.32/t at a cutoff of US$9.20/t. Includes higher grade near surface inferred mineral resource of 132 million tonnes at 1.11% Zn, 0.50% Pb and 24.3 g Ag/t for an NSR value of US$34.50 at an NSR cutoff of US$25/t. Potentially open pittable inferred mineral resource in the Tin Domain of 110 million tonnes at 0.12% Sn, 0.14% Pb and 14.2 g Ag/t for an NSR value of US$12.22/t at an NSR cutoff of US$6.00 per tonne. Potential underground inferred mineral resource in the Polymetallic Domain of 19 million tonnes at 1.88% Zn, 0.36% Pb and 18.8 g Ag/t with an NSR value of US$42.23 at a cutoff grade of US$34.40. Total inferred mineral resource, 97% of which is potentially open pittable, is 670 million tonnes at an NSR of $19.62. Potential open pit is 1.4km in diameter, extends to a maximum depth of 750m below the Santa Barbara hill and has a stripping ratio of 1:1. Resource estimate is based on 139 diamond drill holes totalling 96,386m. All holes intersected significant reportable mineralization and the deposit is open in all directions.
ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
3D Perspective of the Iska Iska Pit Constrained Resource Showing Distribution of Resource in Major Domains as of August 19, 2023.

Eloro Resources Ltd. (TSX;ELO OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce the inaugural mineral resource estimate (“MRE”) for the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. The MRE, as set out in Table 1 below, has been prepared by independent qualified persons (“QPs”) with Micon International Limited as defined under National Instrument 43-101 (“NI-43-101”). A Technical Report outlining the mineral resource estimation will be filed on Sedar within 45 days of the date of this release. read more

Eloro Resources intersects Significant Tin Mineralization (0.17% Sn over 52.75m) in Mina Casiterita Property and also Receives Strong Results from Infill Holes at Santa Barbara Deposit, Potosi Department, Bolivia

Tin mineralization at Casiterita is located 2km southwest of the Santa Barbara deposit indicating that the overall Iska Iska mineralizing system is much more extensive, as predicted from geophysical data. Further drilling is required to fully evaluate this prospective target area. Holes DHK-31, DSB-53 and DSB-54, drilled to fill-in gaps in drill coverage in the eastern part of the Santa Barbara deposit, returned well mineralized intersections as follows: 125.99g Ag eq/t (12.99g Ag/t, 1.76% Zn and 0.45% Pb) over 125.79m including 257.66 g Ag eq/t (44.82g Ag/t, 3.34% Zn and 1.17% Pb) over 8.94m (DHK-31) 177.41g Ag eq/t (28.89g Ag/t, 1.02% Zn, 0.43% Pb and 0.19% Sn) over 60.14m including 1,228 g Ag eq/t (305.21g Ag/t, 0.21 g Au/t, 2.81% Zn, 2.74% Pb and 1.64% Sn) over 4.49m (DHK-31) 128.23g Ag eq/t (7.86g Ag/t, 2.06% Zn and 0.37% Pb) over 85.52m including 165.82 g Ag eq/t (7.99g Ag/t, 2.69% Zn and 0.44% Pb) over 29.95m (DSB-54) 185.07g Ag eq/t (12.38g Ag/t, 0.11 g Au/t, 2.95% Zn and 0.38% Pb) over 24.04m including 483.12 g Ag eq/t (31.24g Ag/t, 0.24 g Au/t, 7.94% Zn and 0.89% Pb) over 7.62m (DSB-54) 83.98g Ag eq/t (5.88g Ag/t, 1.27% Zn and 0.21% Pb) over 34.56 and 67.14 g Ag eq/t (10.25g Ag/t, 0.79% Zn and 0.32% Pb) over 34.33m (DSB-53) Holes DSB-55 and DSB-56 drilled in the southern extension of the Santa Barbara deposit 100m and 200m, respectively, south of previous drilling intersected: 145.69g Ag eq/t (6.37g Ag/t, 0.17 g Au/t, 1.94% Zn and 0.29% Pb) over 70.79m including 341.78g Ag eq/t (12.75g Ag/t, 0.66 g Au/t, 4.31% Zn and 0.54% Pb) over 10.55m (DSB-55), 159.55g Ag eq/t (13.97g Ag/t, 0.36g Au/t, 1.16% Zn, 0.20% Pb and 0.29% Cu) over 54.10m including 329.05g Ag eq/t (36.32g Ag/t, 0.85g Au/t, 1.89% Zn, 0.36% Pb and 0.68% Cu) over 12.01m (DSB-56), and 241.06g Ag eq/t (12.77g Ag/t, 0.33 g Au/t, 2.70% Zn, 0.34% Pb and 0.44% Cu) over 22.59m including 411.52g Ag eq/t (22.71g Ag/t, 0.43g Au/t, 4.70% Zn. 0.58% Pb and 0.82% Cu) over 10.54m (DSB-56) These holes extend the strike length of the Santa Barbara deposit to over 1,400m, still open in all directions.
ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
Geological Map of the Mina Casiterita and Porco-Mina 2 Target Areas Showing Locations of Diamond Drill Holes.  Holes reported in this release are highlight in red circles

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from reconnaissance drilling on the Mina Casiterita Property (8 holes totalling 5,726.8m), additional definition drilling on the eastern margin and southern extension of the Santa Barbara deposit (5 holes totalling 4,223.7m) and reconnaissance drilling in the Porco-Mina 2 area (3 holes totalling 2,544.9m). In total 16 holes totaling 12,495.4m have been completed as shown in Figure 1 (Casiterita/Porco-Mina 2) and Figure 2 (Santa Barbara). Table 1 provides the coordinates of the drill holes for which results are reported in this press release and Table 2 lists information for holes for which assay results are still pending. Significant results are listed in Tables 3 (Casiterita), 4 and 5 (Santa Barbara) and 6 (Porco-Mina 2). read more

Eloro Resources Reports Major Advances in Metallurgy for the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

Preliminary tests at TOMRA in Germany indicate the mineralization at Iska Iska is amenable to “ore-sorting” with removal of at least 40% of the waste in the Polymetallic Domain and up to 80% in the Tin Domain which would substantially increase concentrator feed grades as well as reduce future operating costs and significantly lower the cut off grades (COG) for the pending mineral resource estimate (MRE). Positive “ore-sorting” results were obtained from composite samples of both the tin (Sn) and polymetallic (Ag-Zn-Pb) mineralization domains in the Santa Barbara deposit indicating its wide applicability throughout the entire deposit. Further metallurgical studies conducted by Wardell Armstrong International on a composite sample of the tin mineralization has improved tin concentrator recovery to 50%. This recovery is un-optimised and has been achieved using a mixture of Multi Gravity and tin flotation techniques which are specifically designed to recover the finer grained cassiterite. The concentrator could produce an approximately 5%Sn concentrate grade amenable to the tin fuming process that ultimately could produce a 60-70%Sn concentrate for smelting. The level of metallurgical and pyrometallurgical work that has been conducted is exceptionally high for an inaugural MRE but is justifiable due to the significance of this large potentially open pittable tin and polymetallic resource. The additional metallurgical/mineralogical knowledge will enable Eloro to rapidly move towards a preliminary economic assessment (PEA).
ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
Plan Map Showing Major Tin and Polymetallic Domains in the Santa Barbara Deposit, Iska Iska

Eloro Resources Ltd. (;TSX: ELO OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce major advances on metallurgy for the Iska Iska silver-tin polymetallic project in the Potosi Department of southern Bolivia. These tests were directed by Mike Hallewell, C.Eng., Eloro’s Senior Strategic Metallurgist and a qualified person (QP) as defined by National Instrument 43-101 (NI 43-101). in consultation with Micon International Limited Principal Metallurgist, Richard Gowans, P.Eng., an independent QP. read more