- Eloro Resources (ELO) provides an update on Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Southern Bolivia
- Eloro has completed 26 diamond drill holes totalling 9,427 metres to test the Huayra Kasa Mine area
- Mineralization in the Porco adit occurs within an east-west striking vein structure cutting Ordovician quartz sandstone
- All of the mineralization at Iska Iska is related to a major silver-tin polymetallic porphyry-epithermal complex
- Eloro Resources Ltd. (ELO) is down 1.85 per cent, trading at C$3.71 at 2:29 pm ET
Eloro Resources Ltd. (ELO) has provided an update on its Iska Iska silver-tin polymetallic project in Potosi Department, southern Bolivia.
To date, Eloro has completed 26 diamond drill holes totalling 9,427 metres to test the Huayra Kasa Mine area, Santa Barbara Breccia Pipe (SBBP) and Central Breccia Pipe (CBP) targets.
On the SBBP, eight surface drill holes (DSB-01 to DSB-08) totalling 4,753 metres have been completed in a radial pattern from the centre of the pipe; the ninth hole DSB-09, is in progress.
This hole intersected 380 metres of silicified and mineralized breccia; assays are pending. A second hole, DCN-02, drilled at -60 degrees southwest is in progress to complete an initial northeast-southwest section across the CBP.
Mineralization in the Porco adit occurs within an east-west striking vein structure cutting Ordovician quartz sandstones.
Within this structure, there is a massive sulphide vein that ranges from 30cm to 1m wide surrounded by veinlets and disseminations of sulphide in the sandstone.
It is likely that this mineralization is related to the potential Porco (South) breccia pipe in the same way that the high-grade veins in the Huayra Kasa underground workings occur within the mineralized envelope around the Santa Barbara and Huayra Kasa breccia pipes.
All of the mineralization at Iska Iska is related to a major silver-tin polymetallic porphyry-epithermal complex that is associated with the 1.8km diameter Iska Iska caldera structure which extends for at least 1km vertically.
Other work in progress at Iska Iska includes a detailed ground magnetic survey over the entire property, preliminary metallurgical tests, mineralogical and petrographic studies and synchrotron mineralogical studies.
Tom Larsen, Chairman and CEO of Eloro, commented,
"I am extremely pleased on behalf of the shareholders and the Eloro team that the Company completed the bought deal financing for aggregate gross proceeds of C$25,012,500 on March 26, 2021."
" This is an exciting time for Eloro as it moves towards unlocking the full value of the extensive potential world-class silver-tin polymetallic porphyry-epithermal complex at Iska Iska," added Larsen.
Dr. Bill Pearson, P.Geo., Eloro’s Executive Vice President Exploration, commented,
“We are continuing to aggressively explore the major targets at Iska Iska with drilling progressing well on both the SBBP and CBP."
"We have also expanded our geological team and are in the process of upgrading our facilities and infrastructure to handle the expanded drilling program,” added Pearson.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Québec.
Eloro Resources Ltd. (ELO) is down 1.85 per cent, trading at C$3.71 at 2:29 pm ET.