“We have the potential for two world-class deposits.”
- Eloro Resources Executive VP of Exploration, Bill Pearson was recently featured on a corporate update carried out by Focus Communication
- Pearson updated investors on the company’s ongoing exploratory drill work within their flagship Iska Iska project as well as their adjoining Casiterita property
- With over 85,000 metres of drilling carried out in Iska Iska between September 2020 and November 2022, Eloro’s recent findings have suggested that the potential resources within the Santa Barbara area of the Iska Iska deposit are significantly greater than anticipated
- Going forward, the company expects to publish their NI43-101 mineral resource assessment for their Santa Barbara deposit
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, was recently featured in a corporate update carried out by Focus Communications (https://ibn.fm/VcLEv). Bill Pearson, Eloro Resources’ Executive VP of Exploration was a guest of the show and elaborated on the latest drill results from the company’s ongoing drilling activity within the Santa Barbara High-Grade Zone in addition to providing guidance on the company’s next steps.
Since acquiring an option to purchase a 100 percent interest in the nine square kilometre, high prospective Iska Iska Property, which hosts a major silver-tin polymetallic porphyry-epithermal complex, Eloro Resources has carried out over 85,000 metres of diamond drilling activity across 122 holes between September 2020 and November 2022. Initial findings have been promising; as Pearson explained, holes DSB-50, DSB-51 and DSB-52, the southernmost holes tested to determine the potential south-southeastern extension of the high-grade one at Santa Barbara, each returned well mineralized intersections over 100m core length. Along with noting that the drill holes explored within the Santa Barbara Deposit’s south-southeastern extension have been notable rich in zinc values, Pearson also suggested that the three holes effectively expanded the strike extent of the Santa Barbara High-Grade Zone to between 1,100m and 1,200m, thus significantly expanding the potential pittable resource.
Eloro Resources have simultaneously been carrying out exploratory drill work at their Mina Casiterita property, located to the immediate southwest of Iska Iska. Having previously hosted artisanal mining activities in the early 1960’s – with approximately 70 tons of tin extracted at the time, Eloro have sought to identify the potential rich tin veins currently running through the property with over 3,300 metres of drilling carried out to date.
In the coming weeks and months, Eloro Resources anticipates that it will publish the inaugural NI43-101 compliant mineral resource of the Santa Barbara High Grade Zone and surrounding mineralized envelope, subject to an assessment which is currently underway. With drilling and geophysical surveys now taking place to explore the potential major tin porphyry target south of Iska Iska as well as on the Casiterita property to the southwest, Pearson reaffirmed his confidence that Eloro Resources had the “potential to [uncover] two world-class deposits” with “one likely in the bank at Santa Barbara.”
Pearson’s update provides further impetus to the positive fundamental drivers supporting Eloro Resources’ business case. With the company having uplisted to the Toronto Stock Exchange main board in recent months, successfully closed on a recent capital raising exercise, and set to benefit from continued strong demand for silver and tin amidst the global transition towards renewable energy resources, Eloro Resources looks well-positioned to capitalize on the current economic climate.
For more information, visit the company’s website at www.EloroResources.com.
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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