Tag: Potosi department

Cartier Silver Announces Upsizing of Previously Announced Financing; and Signing of Definitive Agreement to Acquire the Chorrillos Project in Potosi Department, Bolivia

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Cartier Silver Corporation (CSE:CFE) (“Cartier Silver” or the “Company”) is pleased to announce that, due to investor demand in connection with its previously announced (see the Company’s press release dated November 22, 2022) private placement offering (the “Private Placement”), it is increasing the size of the Private Placement to up to 10 million units of the Company (“Units”) at a price of $0.40 per Unit for gross proceeds of up to $4 million. read more

Eloro Resources Intersects Multiple Intersections including 122.25g Ag eq/t (17.77g Ag/t, 0.30% Zn, 0.33% Pb, 0.10% Cu and 0.16% Sn) over 210.74m in High Grade Feeder Zone, Santa Barbara Target Area at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

The headline intersection in hole METSBUG-03 drilled from the Santa Barbara adit, includes higher-grade portions of: 272.90g Ag eq/t (100.21g Ag/t, 0.37% Pb, 0.17% Cu and 0.34% Sn) over 16.57m. 199.68g Ag eq/t (51.11g Ag/t and 0.34% Sn) over 13.11m. 64% of this 707.8m long drill hole contains reportable intersections averaging 164.32 g Ag eq/t. Holes DSB-38, DSB-39 and DSB-40 tested the on-strike extension of the High Grade Feeder Zone at Santa Barbara to the south-southeast. These holes tested an approximately 1,000m (1km) long section in mineralized dacite across the central part of the caldera valley approximately 500m south-southeast of the underground drill bay in the Santa Barbara adit. Highlights include: 269.56g Ag eq/t (52.63g Ag/t, 3.02% Zn and 1.82% Pb) over 58.85m including 462.04g Ag eq/t (75.05g Ag/t, 5.87% Zn and 2.55% Pb over 23.80m (DSB-38). 101.74g Ag eq/t (10.59g Ag/t, 0.16 g Au/t, 1.23% Zn and 0.28% Pb) over 74.07m including 255.53g Ag eq/t (31.83g Ag/t, 0.59 g Au/t, 2.73% Zn and 0.64% Pb over 17.24m (DSB-38). 91.96g Ag eq/t (4.71g Ag/t, 1.37% Zn and 0.15% Pb) over 193.96m with higher-grade portions of 147.94g Ag eq/t (4.56g Ag/t, 2.48% Zn and 0.29% Pb) over 19.86m and 218.05g Ag eq/t (14.33g Ag/t, 0.14 g Au/t, 3.35% Zn and 0.33% Pb) over 11.21m (DSB-40). 34% of these three holes which total 2,761m contained reportable intersections which collectively averaged 106 g Ag eq/t. Hole DSB-41, collared on a section 300m northwest of the DSB-38 to -40 section, intersected altered and mineralized dacite including 145.52g Ag eq/t (15.52g Ag/t, 0.11gAu/t, 1.54% Zn, 0.36% Pb and 0.07% Sn) over 71.39m, including a higher-grade portion of 261.83g Ag eq/t (26.12g Ag/t, 0.09g Au/t, 2.78% Zn, 0.56% Pb and 0.17% Sn over 15.24m. Hole DSB-35 that tested the potential southwest extension of the Santa Barbara High Grade Feeder Zone approximately 300m west-northwest of the underground drill bay in the Santa Barbara adit intersected 89.43g Ag eq/t (5.63g Ag/t, and 0.20% Sn) over 104.86m with higher-grade portions of 203.86g Ag eq/t (5.42g Ag/t, 0.14 gAu/t, and 0.47% Sn) over 8.69m, 383.23 g Ag eq/t (5.66g Ag/t, 0.06 g Au/t, and 0.95% Sn) over 4.44m and 153.09g Ag eq/t (2.40g Ag/t and 0.37% Sn) over 7.66m. Sn grades are notably elevated in this area. On-Strike Extension of the High-Grade Feeder Zone at Santa Barbara to South-Southeast is now confirmed for an additional 500m along strike for a total strike length of 1,500m. Geophysical data indicates potential for a further 500m strike length to 2,000m. Width of the Santa Barbara mineralized zone is now up to 1,000m across strike with a depth of at least 800m. The mineralized zone remains open in ALL directions as well as at depth.
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ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
Geological Plan Map showing Drilling in Santa Barbara Area with Holes referred to in this release highlighted.

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from eight (8) additional diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Six of these holes (DSB-35 and DSB-37 to DSB-41) tested the south-southeastern extension of the high-grade feeder zone at Santa Barbara while METSBUG-03 is a metallurgical hole drilled from the Santa Barbara adit underground drill bay. Hole DM2-01 is a reconnaissance drill hole near the Mina 2 adit in the southeast part of the property. read more

Cartier Silver Announces $3 Million Financing; Staking of Additional Claims in Potosi Department, Bolivia

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Cartier Silver Corporation (CSE:CFE) (“Cartier Silver” or the “Company”) is pleased to announce that it is proceeding with a non-brokered private placement (the “Private Placement”) for proceeds of up to $3 million. The Company also announces the staking of additional claims in the Potosi Department, Bolivia, immediately south and west of the recently optioned Felicidad and Gonalbert properties (see Cartier Silver’s October 26, 2022 press release), respectively. read more

Eloro Resources to Acquire Additional Properties to Significantly Expand Holdings at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

The Mina Casiterita and Mina Hoyada properties to be acquired cover 14.75 km2 southwest and west of Iska Iska. These properties connect with the TUP-3 and TUP-6 claims previously staked by Eloro. Eloro has also staked additional land in the area. Following the acquisition, the total land package in the Iska Iska area to be controlled by Eloro will total 1,935 quadrants covering 483.75 km2. Artisanal mining in the 1960’s identified high grade tin (Sn) veins on the Mina Casiterita property that are hosted in an intrusive dacite. Production from 1962 to 1964 is reported by the Departamento Nacional de Geología in Bolivia to be 69.85 tonnes grading 50.60% Sn. Recently completed magnetic surveys by Eloro has outlined an extensive, near surface, magnetic intrusive body on the Mina Casiterita property immediately southwest of Iska Iska. This intrusive hosts the previously mined high-grade tin veins and is very likely the continuation of the porphyry tin intrusion projected to be below the epithermal Ag-Sn-Zn-Pb mineralization at Iska Iska. The Porco adit from which previously reported channel sampling returned 103m grading 521 g Ag eq/t (including 117g Ag/t, 1.44 g Au/t, 0.54% Cu and 0.66% Sn) in altered basement sediments, is located near the northeast part of the magnetic anomaly, attesting to the potential strength and high-grade nature of the mineralized system in the area. Drilling is planned on Mina Casiterita in Q1 2023 with geological mapping, sampling and geophysical surveys now in progress on the full land package across the Iska Iska region.
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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 it has entered into an option agreement (the “Agreement”) to acquire the Mina Casiterita and Mina Hoyada properties (the “Acquisition”) which collectively cover 14.75 km2 southwest and west of the Iska Iska Silver-Tin Polymetallic Project (“Iska Iska”). Artisanal mining in the 1960’s identified high grade tin veins on the Mina Casiterita property that are hosted in intrusive dacite. Production from 1962 to 1964 is reported by the Departamento Nacional de Geología (National Department of Geology) in Bolivia as 69.85 tonnes grading 50.60% Sn. These properties connect with the TUP-3 and TUP-6 claims previously staked by Eloro. The Company has also staked additional claims in the Iska Iska region, as shown in Figure 1. Collectively, the land package to be controlled by Eloro following the Acquisition will total 1,935 quadrants covering 483.75 km2. This includes the Tomave, Khuchu Ingenio and Puna properties, located further north towards Potosi (Figure 1). read more

Eloro Resources Intersects Multiple Intersections including 108.16 g Ag eq/t (11.63 g Ag/t, 1.53% Zn and 0.36% Pb) over 111.26m in High-Grade Feeder Zone in Santa Barbara Target Area at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

This intersection in hole DSB-36, drilled 400m southeast of the Santa Barbara adit, includes higher-grade portions of: 180.29 g Ag eq/t (24.27 g Ag/t, 2.49% Zn and 0.73% Pb) over 24.13m. 197.54 g Ag eq/t (17.04 g Ag/t, 2.96% Zn and 0.58% Pb) over 11.82m. 211.34 g Ag eq/t (30.50 g Ag/t, 2.87% Zn and 0.76% Pb) over 6.02m. Other significant intersections in this hole include: 101.31 g Ag eq/t (28.14 g Ag/t, 0.19% Zn, 0.55% Pb and 0.26% Cu) over 77.82m. 101.47 g Ag eq/t (23.88 g Ag/t, 1.08% Zn and 0.56% Pb) over 55.54m. 205.75 g Ag eq/t (20.69 g Ag/t, 0.15 g Au/t, 0.68% Zn and 0.75% Pb) over 22.75m. 136.82 g Ag eq/t (3.33 g Ag/t, 0.09 gAu/t, 1.72% Zn, 0.31% Pb and 0.07% Sn) over 78.39m including 478.26 g Ag eq/t (12.60 g Ag/t, 0.27 gAu/t, 5.61% Zn, 0.91% Pb and 0.28% Sn over 10.53m 203.26 g Ag eq/t (1.73 g Ag/t, 0.75% Zn and 0.42% Sn) over 12.22m. The last sample in this 935.4m long hole returned 549.91g Ag eq/t (46.00 g Ag/t, 3.33% Zn, 2.27%Pb and 0.68% Sn) over 1.51m. 52% of this hole contained reportable intersections which collectively averaged 112.48 g Ag eq/t. On-Strike Extension of High Grade Feeder Zone at Santa Barbara to South-Southeast now confirmed for an additional 400m and is open along strike.
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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. One drill hole, DSB-36, collared 400m southeast of the Santa Barbara adit, tested the extension of the core of the high-grade feeder zone at Santa Barbara while hole DSB-34, tested the potential southwest limits of the high-grade feeder zone as shown in Figure 1. 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 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