Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec, today provided an update on its Iska Iska silver-tin polymetallic project in Potosi Department, southern Bolivia. According to the company, substantive progress has been made on the preliminary economic evaluation (“PEA”), which is focusing on the Ag-Zn-Pb-Sn mineralization. The preliminary optioneering study has shown that a 12 million tpa mining operation appears the most attractive option based upon XRT Ore Sorting and/or Dense Media Separation, which effectively doubles the grade feeding the milling and flotation circuit and which is also likely to enhance downstream metal recoveries. Additionally, further studies have helped define local costs for the PEA study. “Updated modeling of the potential starter pit area at Santa Barbara zone highlights the importance of completing additional drilling to better define the grade and extent of the mineral resource in this area. Areas with higher-grade resource typically have much better drilling density whereas holes outside the core area are too widely spaced to give an accurate estimate of grade. Previous channel sampling along the Santa Barbara adit which returned 165 g Ag/t, 3.46% Pb and 0.46% Sn over a 166m strike length including an exceptional section with 1,024 g Ag/t, 25% Pb and 1.16% Sn over an 8.11m length highlight the important high grade silver-bearing structured present in the Iska Iska mineralized system. Better definition of these high grade structures in the potential starter pit area to determine their lateral and vertical extents as well as outline additional high grade structures will be a key focus in the next definition drilling program,” commented Tom Larsen, CEO of Eloro.
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About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 100% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department in southern Bolivia. A recent NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited, is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF
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