Eloro Announces Restart of Definition Diamond Drilling on the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Southwestern Bolivia
Updated modelling of the potential starter pit area at Santa Barbara indicates that areas with higher-grade mineralization typically have much better drilling density, whereas holes outside the core area are too widely spaced to give an accurate grade estimate. This increased drilling density is particularly important for defining the extent of the high-grade Ag-bearing and Sn-bearing structures, and for categorizing the mineral resources from inferred to indicated, which have a major influence on overall grade and resources that will contribute to the preliminary economic assessment (“PEA”). An initial program of 5,700m of diamond drilling in 13 holes in the Santa Barbara starter pit area is planned to better define the vertical and lateral extent of high-grade Ag mineralization; fill-in gaps that are presently categorized as low-grade or waste in the resource model but are very likely mineralized; expand the higher-grade Sn mineralization to the west; and complete an additional 1,400m in two large size PQ holes for further metallurgical testing. Drill pads are expected to be completed by mid-September for start up of this initial diamond drilling program. The Santa Barbara Adit and area will be of particular interest and focus, where previous systematic continuous channel sampling along the adit returned average grades of 164.96 g Ag/t, 0.46%Sn, 3.46% Pb and 0.14% Cu over 166m including 446 g Ag/t, 9.03% Pb and 1.16% Sn over 56.19m. Once this initial 7,100m drilling program is completed, an additional 7,000m drilling program is planned in the polymetallic Ag-Zn-Pb and Sn-Ag domains to produce an independent updated mineral resource estimate (“MRE”) which will be reported and incorporated into the PEA. The Eloro team continue to look for opportunities to process tin zones for recovery of cassiterite either after cessation of the aforementioned Ag-Zn-Pb project by adding a tin plant onto the existing flotation plant infrastructure already installed or construction of a stand-alone tin plant. A silver rich bi-product is envisaged from processing the tin-silver domain that would be commercialized separately. The tin–silver sulphide domain will be metallurgically tested so it can be included in the PEA study. A conceptual scoping study has been initiated that will identify the potential for developing an underground ramp into the core of the Santa Barbara zone, with the following objectives: Extract systematic bulk and channel samples to confirm grade and continuity of mineralization especially for Ag and Sn Generate samples for external laboratory bulk metallurgical test work Potentially leading to a small pre-concentration plant to generate additional metallurgical data on this important stage in the process and permit pre-concentrated “ore” that could be treated at Empresa Minera Villegas SRL’s lead-zinc-silver differential flotation plant located 15 km from Iska Iska for the production of silver-rich lead and zinc concentrates. This would potentially provide a source of short-term income to help support the capital and operating costs of this initiative. It would also demonstrate the technical viability of the pre-concentration plant unit processes in readiness for the 35,000 tonnes per day bulk tonnage open pit mine model envisioned for the PEA. Detailed geological and engineering work to further assess the ground-water quality, contamination risks, predicting geologic hazards, characterizing mineral resources and their extraction costs, producing geotechnical information, waste repository siting and general education. Provide access for targeted underground diamond drilling to further upgrade the mineral resource
Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro: or the “Company”) is pleased to provide an update on Eloro’s Iska Iska silver-tin polymetallic project in Potosi Department, southern Bolivia.