Tag: TSX:ELO

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.
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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 57.62g Ag/t, 1.26% Zn, 0.94% Pb and 0.12% Sn (139.94g Ag eq/t) over 136.11m in Definition Drilling at the Iska Iska Project, Potosi Department, Southwestern Bolivia

Hole DSB-66 above also returned other well mineralized intersections including: 24.67g Ag/t, 1.08% Zn, 0.83% Pb and 0.08% Sn (94.46g Ag eq/t) over 86.39m, and 7.46g Ag/t, 2.51% Zn, 1.02% Pb and 0.06% Sn (129.90g Ag eq/t) over 74.85m Hole DSB-65 intersected 118.86g Ag/t*, 0.35% Zn, 0.35% Pb and 0.15% Sn (152.29g Ag eq/t*) over 81.28m including a very high-grade sample of: 5,080g Ag/t, 0.12 g Au/t, 0.26% Zn, 1.34% Pb, 1.53% Cu and 1.27% Sn (4,746.46g Ag eq/t) over 1.46m This very high-grade sample highlights the potential for Iska Iska to host extraordinary grades within the overall extensive mineralized system. Hole DSB-63, the eastern most hole in the definition drill program, intersected a significant Sn intersection of 23.37 g Ag/t, 1.77% Zn. 1.22% Pb and 0.51% Sn (205.57g Ag eq/t) over 23.02m. This area is in the Polymetallic (Ag-Zn-Pb) Domain where Sn values have typically been low. This suggests potential to extend the higher-grade Sn zone further east. The definition drill program has expanded both the higher-grade Sn and Ag zones especially to the west where there has been only limited previous drilling. These new data highlight the potential to upgrade and expand the mineral resource particularly by outlining a significant higher-grade Sn resource to include for consideration in the preliminary economic assessment (“PEA”). * Cutting of this very high Ag sample to 1,000g Ag/t, based on a statistical probability plot, yields a still high average for the 81.28m interval of 45.58 g Ag/t with an overall grade of 87.80 g Ag eq/t
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ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,
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 final assay results for the last six (6) diamond 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 Announces Completion of Metallurgical Holes and Updates Progress on Definition Drill Program to Expand Higher Grade Mineral Resource for PEA at Iska Iska Project, Potosi Department, Southwestern Bolivia

Three PQ sized metallurgical holes have been completed, two in the higher-grade Polymetallic (Ag-Zn-Pb) Domain Type and one in the higher-grade Tin (Sn-Ag-Pb) Domain Type with core shipped to Wardell Armstrong International (WAI) in Cornwall The Polymetallic Domain Type metallurgical testwork will focus on the predominant sulphide domain, while confirmatory testwork on the less predominant oxide domain is planned potentially using “sulphidizing” float conditions as required. The Tin Domain Type metallurgical testwork will focus on the predominant surface oxide domain only with a view to produce a lead-silver concentrate via the same flowsheet developed for the Polymetallic Domain Type mentioned above. Tin Recovery will not be part of the formal PEA deliverable, but its recovery will be tracked for future reference and use. Core will be crushed and sized into -60mm+25mm, -25mm+9.5mm and -9.5mm+0.85mm by WAI the +9.5mm products will be shipped to TOMRA in Germany for cascade “XRT ore-sorting” tests, whilst the -9.5mm+0.85mm will be tested using heavy liquids to further identify the amenability of the ore to Dense Media Separation (“DMS”) with further PEA metallurgical tests to be completed on the -0.85mm material and pre-concentrated products from the aforementioned test work. Definition drill program in progress will focus on expanding the higher-grade Polymetallic Domain mineral resource, which as previously reported contains an inferred mineral resource of 132 million tonnes at 24.3 g Ag/t, 1.11% Zn and 0.50% Pb at an NSR cutoff of $US25/t for a net NSR value of US$34.40 based on a cutoff grade of US$9.20/t. This higher-grade resource is included within the much larger inferred mineral resource in the Polymetallic Domain Type (Ag-Zn-Pb) of 541 million tonnes grading 13.6 g Ag/t, 0.69% Zn and0.28% Pb with an NSR value of US$20.32/t at an NSR cut-off of US$9.20/t. It is envisaged that this resource will be bulk mined in an open pit to minimise mining operating costs, with the run-of-mine feed then pre-concentrated to remove waste dilution. The Tin Polymetallic Domain Type (Sn-Pb-Ag) which has an inferred mineral resource 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 is very under drilled and is a major exploration target going forward.
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V.ELO, Eloro Resources, Peru, gold, Tom Larsen
Location Map of Metallurgical Drill Holes

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that it has completed a metallurgical drill program and commenced a definition drill program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. read more

Eloro Resources Announces Annual Meeting Voting Results

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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 that in connection with the annual meeting of the Company`s shareholders (the “Meeting”), that was held virtually on October 30, 2023, and in accordance with TSX reporting requirements, the following voting results were obtained. 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.
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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 Closes C$6.9 Million Bought Deal Financing

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

 Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that it has closed its previously announced bought deal financing, including the exercise in full of the over-allotment option by the Underwriters, of 2,191,280 units of the Company (the “Units”) at a price of C$3.15 per Unit for gross proceeds to the Company of C$6,902,532 (the “Offering”). The Offering was underwritten on a bought deal basis by Haywood Securities Inc. and Cantor Fitzgerald Canada Corporation (collectively, the “Underwriters”), pursuant to an underwriting agreement dated July 31, 2023 between the Company and the Underwriters. Each Unit consists of one common share (each a “Common Share”) in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant entitles the holder to acquire one Common Share at a price per Warrant Share of $4.25 for a period of 24 months following the closing date of the Offering. 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).
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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

Eloro Resources’ drill hole DSB-47 intersects 114g Ag eq/t (9.90g Ag/t, 0.12 g Au/t, 0.96% Zn, and 0.68% Pb) over 320.97m in the Santa Barbara High-Grade Zone, at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

Holes DSB-50, DSB-51 and DSB-52, the southernmost holes that tested the potential south-southeastern extension of the High-Grade Zone at Santa Barbara, each returned well mineralized intersections over 100m core length as follows: 86.67g Ag eq/t (13.57g Ag/t, 0.99% Zn and 0.41% Pb) over 105.42m including 193.50 g Ag eq/t (15.34g Ag/t, 3.22% Zn and 0.17% Pb) over 10.57m (DSB-50) 103.03g Ag eq/t (5.18g Ag/t, 1.72% Zn and 0.21% Pb) over 143.06m including 175.06 g Ag eq/t (9.39g Ag/t, 2.96% Zn and 0.35% Pb) over 49.87m (DSB-51) 123.28g Ag eq/t (7.46g Ag/t, 0.14 g Au/t, 1.85% Zn and 0.26% Pb) over 119.77m including 306.28 g Ag eq/t (18.03g Ag/t, 0.45g Au/t, 4.55% Zn and 0.47% Pb) over 28.79m (DSB-52) Drill holes in the south-southeastern extension of the Santa Barbara Deposit are notably Zn-rich returning some of the highest Zn values intersected thus far. These three holes expand the strike extent of the Santa Barbara High-Grade Zone to more than 1,100m significantly expanding the potential open pittable resource. The High-Grade zone is now 800m across and is open along strike to the south-southeast.
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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: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from the last eight (8) diamond drill holes from the definition drill program at Santa Barbara in the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Two (2) of these drill holes (DSB-45 and DSB-47) filled in gaps in previous drilling of the High-Grade Zone. The remaining six (6) holes (DSB-44. DSB-48, DSB-49, DSB-50, DSB-51 and DSB-52) tested the potential south-southeastern extension of the High-Grade Zone at Santa Barbara. read more

Eloro Resources Provides Update on the Ongoing 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,
A colored map with a key showing SN/CU ratio looking west-southwest.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to provide an update on its ongoing preliminary metallurgical testwork program for the Iska Iska silver-tin polymetallic project (the “Project”) in the Potosi Department, southern Bolivia. The ongoing work, including flowsheet development testwork and mineralogical characterization, is being carried out by Blue Coast Research Ltd. (“Blue Coast” or “BCR”) based in Parksville, British Columbia, and Mineral Concentration Laboratory of the National Faculty of Engineering from the Technical University of Oruro (“UTO”), Bolivia. The objective of the coordinated work programs is to develop a geo-metallurgical understanding of the mineralized domains and to obtain preliminary metallurgical recovery estimates for the main valuable constituents of the mineralized material currently identified at the Project. read more