- Eloro Resources recently published a new corporate update detailing ongoing developments within the company
- Eloro is continuing to work on the upcoming publication of its inaugural NI 43-101 compliant mineral resource estimate report, which will provide the market with more granular information related to the commercial viability of the Iska Iska project
- The company has recently carried out a variety of further studies within the site, including looking into the viability of ‘ore sorting’, a determinant of overall resource extraction efficiency
Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mining company focused on developing its potential world-class Iska Iska silver-tin polymetallic property located in the Potosi Department in southern Bolivia, recently provided investors and corporate stakeholders with an overview of the company’s ongoing developments. With the company having engaged in exhaustive exploratory drilling and analysis activities dating back to the inception of the Iska Iska project, Eloro Resources are now embarked on the process of finalizing the release of their initial mineral resource estimate (“MRE”) report, which will seek to provide the market with further granularity as to the Iska Iska property’s viability as a commercial mining operation going forward (https://nnw.fm/jZP1d).
Previously exploited by artisanal miners in the early 1960s, repeated surveys of Eloro’s Iska Iska and Mina Casiterita properties – the latter situated to Iska Iska’s immediate southwest, have outlined the appearance of an extensive, near surface, magnetic intrusive body spread across the two sites. These findings have been further complemented by an extensive program of exploratory drill work across the sites- dating back to early 2021 and amounting to a cumulative 85,000 meters of diamond drilling across 122 individual holes. Recent conclusions drawn from this drill work have driven the mining company to vastly increase their initial projections related to the potential scale of the deposit at hand; Eloro’s most recent model now suggests that the company could potentially have access to a high-grade deposit (defined as having potential deposits of > 90g AG eq/t) measuring 800 meters wide and over 1,100 meters in depth.
In addition to its drill work, Eloro Resources have sought to measure the potential refining efficiency of the site, factors which will ultimately influence the commercial viability of a site should mining activity formally commence. Preliminary tests carried out at TOMRA in Germany have found the mineralization at Iska Iska to be amenable to ‘ore sorting’; in effect, the tests have found that at least 40 percent of the waste within the Iska Iska site’s Polymetallic domain and up to 80 percent of the waste in the Tin domain may be removed prior to submitting the ore for further refining. In effect, this will increase the concentrator feed grades, thus reducing future operating costs and significantly decreasing the cut-off grades (“COG”) for the upcoming mineral resource estimate report.
In the coming weeks, Eloro Resources expect to publish their inaugural NI 43-101 compliant mineral resource estimate relating to the Santa Barbara High-Grade Zone, situated within the Iska Iska property site. Meanwhile, however, the company has continued its exploratory mining work spread across a wide array of areas within the Iska Iska and Mina Casiterita properties. Initial diamond drilling and geophysical surveys verifying the potential of a major tin porphyry located to the south of Iska Iska and southwest of Casiterita have been carried out, with results currently pending. Simultaneously, recent drill intersections, inverse magnetic models and deep drill intersections have opened up the possibility of a major tin porphyry beneath the Porco area to the south and extending into Mina Casiterita.
With Eloro Resources’ initial MRE report soon to be published – followed shortly thereafter by a preliminary economic assessment (“PEA”) report – Eloro Resources continues to march resolutely on towards an eventual future entailing commercial mining operations within its flagship Iska Iska site.
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://nnw.fm/ELRRF
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