- Eloro Resources’ Executive VP of Exploration, Bill Pearson was recently featured on BTV
- During the interview, Pearson revealed his optimism surrounding the company’s ongoing exploratory works within Bolivia’s Iska Iska project
- Eloro Resources have now drilled over 70,000 meters cumulatively across 102 holes whilst employing five drills
- The company is now working towards publishing its maiden mineral resource estimation report alongside its NI 43-101
Two years ago, Eloro Resources Ltd. (TSX.V: 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 taking its initial steps towards realizing its maiden drilling campaign within in its Iska Iska project located in southern Bolivia. Today, the company believes that they may have, quite literally, hit pay dirt. Eloro Resources Executive VP of Exploration, Bill Pearson was recently the subject of a wide-ranging interview on Business TV (“BTV”); during the question and answer session, Pearson expressed his optimism on the company’s prospects following its recent exploratory work whilst simultaneously suggesting that the possibility that Eloro could potentially uncover a world class, multi-million ounce deposit of silver and tin within the Iska Iska project may not be far off from the realm of possibility (https://ibn.fm/FP5ua).
Over the past two years, Eloro Resources have drilled upwards of 102 holes and over 70,000 cumulative meters across a tract of land measuring eight square kilometres; remarkably according to Pearson, with every single drill hole boasting multiple intersections, the company had yet to come up dry on any of its initial probes. Eloro will now look to formulate its maiden resource estimate, with the upcoming publication of its initial NI 43-101 report providing the market with further scientific and technical information about the economic viability of its project (https://ibn.fm/FtH9r).
“There’s going to be a lot of good news coming out through the fall and culminating in the MRE (mineral resource estimation)”, Pearson stated.
The commercial usage of tin and silver have skyrocketed in recent years, with both metals playing essential roles within the ongoing global effort towards decarbonisation. Whilst silver has long been prized for over 5,000 years as a store of value, the precious metal today arguably holds even more value in its scientific applications. As a result of silver’s superior thermal conductivity, a paste containing silver has rapidly transformed into a critical component within the construction of both, solar photovoltaic cells and crystalline silicon photovoltaic cells, alike. With the average solar panel making use of approximately 20 grams of silver, solar panels now account for over 8% of annual silver demand – a figure which is set to grow at over 9% per annum for the foreseeable future (https://ibn.fm/BC24M).
Elsewhere, tin has rapidly emerged as a crucial cog within the process of soldering electronics such as semiconductors, solar panels and batteries. The continued rollout of 5G telecom networks and development of the Internet of Things (“IoT”) along with the consequent increase in demand for tin soldering in new telecom equipment are expected to drive further spikes in the base metal’s price, with soldering alone expected to account for 49% of the metal’s end-demand in the near term.
“There is no electrical device on the plant that functions without tin, so our expectation is that tin usage will skyrocket”, explained Pearson. “[Meanwhile] silver is essential for the production of solar panels. The rate of solar panels production is skyrocketing, so that rate of usage is going to go up, and up”, he elaborated.
With critical mineral demand on the upswing and the company on the verge of a major discovery, management anticipate that Eloro are on the cusp of something big.
“There is a lot of upside in this story as we move forward with our intial MRE, and ultimately that will lead to looking at possible developments down the road. There will be a major mine in Iska Iska one day and it probably won’t be in such a distant future,” Pearson concluded.
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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