Tag: TSX:ELO

Eloro Resources Announces Brokered Private Placement for Gross Proceeds of up to C$5.0 Million

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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 it has entered into an agreement with Red Cloud Securities Inc., to act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the “Agents”), in connection with a best efforts private placement (the “Marketed Offering“) for aggregate gross proceeds of up to C$5,000,000 from the sale of up to 5,263,158 units of the Company (the “Units”) at a price of C$0.95 per Unit (the “Offering Price”). read more

Eloro Resources Further Expands Major Silver Zone Intersecting 151.47 g Ag/t over 135m within a broader interval of 309m grading 90.92 g Ag/t in the Latest Definition Drilling at its Iska Iska Deposit, Potosi Department, Bolivia

The high grade intersection above from hole DSB-75 includes 962.23 g Ag/t over 9.75m within a wider zone of 34.50m grading 440.09 g Ag/t which is the highest grade Ag intersection obtained thus far in drilling at Iska Iska. Hole DSB-75 was collared 200m northwest of previously reported hole DSB-68 which intersected 122.03m grading 126.10g Ag/t within a wider 289.13m section grading 66.90 g Ag/t indicating this high grade silver mineralization is likely quite extensive. As definition drilling has expanded to cover more areas within the Santa Barbara area, the frequency of high grade silver values greater than 50 g Ag/t that have been encountered has increased significantly confirming the importance of tighter spaced infill drilling to obtain a more accurate estimate of grade. Infill drilling is consistently demonstrating that areas of formerly barren or low grade mineralization actually bear grades that are higher and widths that are significantly longer than those in the current mineral resource model.
MotherlodeTV
V.ELO, Eloro Resources, Peru, gold, Tom Larsen
3D Drawing showing distribution of high grade Ag in the Santa Barbara potential starter pit area. The plan at 3900m level shows the Epithermal (Ag-Zn-Pb) Domain marked by High Chargeability and the Tertiary Intrusion Breccia Domain (TIB Sn-Ag) marked by Low Chargeability.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce further assay results from its definition diamond drilling program in the potential Santa Barbara starter pit area in the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. To date 5,799.4m of diamond drilling have been completed in eleven (11) holes in this phase of definition drilling. PQ core size has been used in the majority of holes in this program to obtain larger, more representative core samples. read more

Eloro Resources Further Expands Major Tin Zone with Significant Tin Intersections Highlighted by 49.5m grading 0.55% Sn within 91.5m grading 0.34% Sn in its Definition Drilling Program at its Iska Iska Deposit, Potosi Department, Bolivia

This hole DSB-74, located 100m southeast of discovery hole DSB-72, contains a second long deeper intersection of 103.5m grading 0.31% Sn including 28.5m grading 0.44% Sn. High grade tin mineralization in Holes DSB-74 and discovery hole DSB-72 occurs as visible coarse-grained high temperature cassiterite which is likely to be amenable to gravity separation. Tin mineralization is hosted in an extensive intrusion breccia unit (TIB) that is approximately 750m long by 450m wide and extends to a depth of at least 700m. Previous wide space reconnaissance drilling has intersected a number of significant Sn intersections in this breccia unit which is very under-drilled. The intrusive breccia is very likely an offshoot or apophysis from a large tin porphyry at depth. The likely top of this tin porphyry is marked by a highly conductive zone that is interpreted as a pyrite-pyrrhotite halo around this porphyry. Similar pyritic halos have been reported from other major tin deposits in the Bolivian Tin Belt. With this discovery and expansion of a presumed shallow level apophysis of a tin porphyry at depth, Eloro is in a unique position of having two discernable different deposit styles juxtaposed against one another; a very large silver-zinc-lead dominant system next to a high-grade tin system. While these two systems are likely genetically related, this means that the Company may potentially have two world class deposits on the same property.
MotherlodeTV
V.ELO, Eloro Resources, Peru, gold, Tom Larsen
Location Map of Definition Diamond Drill Holes, Santa Barbara zone, Iska Iska. The yellow circle highlights the location of the holes in this release.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce further assay results from its definition diamond drilling program in the potential Santa Barbara starter pit area in the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. To date 5,799.4m of diamond drilling have been completed in eleven (11) holes. PQ core size has been used in the majority of holes in this program to obtain larger, more representative core samples. read more

Eloro Resources Opens Up Major Tin Zone Intersecting 33m grading 1.39% Sn within 87m grading 0.74% Sn in its Definition Drilling Program at its Iska Iska Deposit, Potosi Department, Bolivia

Tin mineralization is hosted in an extensive intrusion breccia unit (TIB) that is approximately 750m long by 450m wide and extends to a depth of at least 700m. Previous wide space reconnaissance drilling has intersected a number of significant Sn intersections in this breccia unit which is very under-drilled High grade tin mineralization in Hole DSB-72 reported here occurs as visible coarse-grained high temperature cassiterite which is likely to be amenable to gravity separation. Core from this hole will be used for additional metallurgical testing. Geophysically, the intrusion breccia has low chargeability which contrasts considerably with the adjacent later epithermal Ag-Zn-Pb mineralization which is marked by a strong chargeability anomaly. The intrusive breccia is very likely an offshoot or apophysis from a large tin porphyry at depth. The likely top of this tin porphyry is marked by a highly conductive zone that is interpreted as a pyrite-pyrrhotite halo around this porphyry. Similar pyritic halos have been reported from other major tin deposits in the Bolivian Tin Belt. With this discovery of a presumed shallow level apophysis of a tin porphyry at depth, Eloro is in a unique position of having two discernable different deposit styles juxtaposed against one another; a very large silver-zinc-lead dominant system next to a high-grade tin system. While these two systems are likely genetically related, this means that the Company may potentially have two world class deposits on the same property.
MotherlodeTV
V.ELO, Eloro Resources, Peru, gold, Tom Larsen
Location Map of Definition Diamond Drill Holes, Santa Barbara, Iska Iska. The yellow circle highlights the location of the hole in this release.

 Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce further assay results from its definition diamond drilling program in the potential Santa Barbara starter pit area in the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. To date 5145.8m of diamond drilling have been completed in ten (10) holes. PQ core size has been used for all holes in this program to obtain larger, more representative core samples. read more

Eloro Resources Intersects 66.90g Ag/t, 0.63% Zn, 0.42% Pb and 0.11% Sn (111.14g Ag eq/t) over 289.13m in First Hole of Definition Drilling at the Iska Iska Project, Potosi Department, Southwestern Bolivia

Intersection in hole DSB-68 above also includes higher grade intervals of: 126.10g Ag/t, 0.55% Zn, 0.60% Pb and 0.09% Sn (160.72g Ag eq/t) over 122.03m, 47.61g Ag/t, 0.22% Zn, 0.40% Pb and 0.45% Sn (146.06g Ag eq/t) over 16.51m, and 25.52g Ag/t, 2.19% Zn, 0.65% Pb and 0.10% Sn (129.60g Ag eq/t) over 7.46m The high grade mineralization is associated with a prominent intrusion breccia body that is widening at depth over a vertical interval of over 500m and likely extends much further to the south. This breccia body is likely a major feeder for mineralization. Geophysical data indicates that there is a prominent northwest trending structural corridor 500m wide that extends from the Santa Barbara area southeastwards for at least 2km. Within the Santa Barbara High Grade Corridor, a strong spatial correlation is evident between the high-grade intersections in the intrusion breccia and areas of higher chargeability. This hole is the first of a strategic infill program in the potential starter pit area at Santa Barbara 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 mineral resource model but are very likely mineralized; expand the higher-grade Sn mineralization to the west; and complete two large size PQ holes for further metallurgical testing (see Eloro press release of September 4, 2024).
MotherlodeTV
ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
Location Map of Definition Diamond Drill Holes, Santa Barbara, Iska Iska.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce the initial assay results in its definition diamond drilling program in the potential Santa Barbara starter pit area in the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. To date 2,561.9m of diamond drilling have been completed in six (6) holes including two (2) holes in progress. PQ core size has been used for all holes in this program to obtain larger, more representative core samples. read more

Eloro Resources Closes Non-Brokered Private Placement Offering of 4,200,000 units for Gross Proceeds of $3,780,000

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

Eloro Resources Ltd. (“Eloro” or the “Company”) (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that, in connection with its previously announced non-brokered private placement offering (the “Offering”), the Company has closed the second and final tranche of the Offering of 4,200,000 units of the Company (the “Units”) at $0.90 per Unit for gross proceeds of $3,780,000. The Offering included a lead order from the Company’s largest shareholder and strategic investor, Crescat Capital LLC. read more

Eloro Resources Increases Non-Brokered Private Placement Offering to 4,200,000 units for Gross Proceeds of $3,780,000 and Schedules Closing for October 31, 2024

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

Eloro Resources Ltd. (“Eloro” or the “Company”) (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that, in connection with its previously announced non-brokered private placement offering (the “Offering”), the Company has increased the size of the Offering from up to 3,900,000 units of the Company (the “Units”) at $0.90 per Unit for gross proceeds of up to $3,510,000, to 4,200,000 Units for gross proceeds of $3,780,000. The Company also announces the Offering is fully subscribed and the closing of the second and final tranche is scheduled to take place on October 31, 2024. read more

Eloro Resources Announces Annual and Special Meeting Voting Results

MotherlodeTV
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 in connection with the annual and special meeting of the Company`s shareholders (the “Meeting”), that was held virtually on September 30, 2024, and in accordance with TSX reporting requirements, the following voting results were obtained. read more

Eloro Resources Receives Lead Order from Strategic Investor Crescat Capital and Announces Non-Brokered Private Placement Offering Up to $2,700,000

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

Eloro Resources Ltd. (“Eloro” or the “Company”) (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce it has received a lead order from the Company’s largest shareholder and strategic investor, Crescat Capital LLC, in connection with a non-brokered private placement offering (the “Offering”) of up to 3,000,000 units of the Company at $0.90 per unit (the “Units”) for gross proceeds of up to $2,700,000. 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.
MotherlodeTV
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