Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE:
P2QM) (“Eloro”, or the “Company”) is pleased to announce
assay results from an additional six (6) diamond drill holes from
its on-going drilling program at the Iska Iska silver-tin
polymetallic project in the Potosi Department, southern Bolivia.
Holes DSBU-05 and DSBU-06 are underground holes drilled from the
Santa Barbara adit to test the northern extension of the
higher-grade mineralized zone. Hole DSBS-01 was collared in the
southern part of the Santa Barbara target zone and drilled at an
azimuth of 300 and dip of -300 to test the same target. Holes
DSB-24, DSB-14 and DSB-22 were drilled at azimuths of 2250 to test
the northwest extension of the Santa Barbara mineralized zone
approximately 100m, 200m, and 1,000m, respectively, northwest of
the Santa Barbara adit underground drill bay. Drilling is
continuing in the Porco area to test for a potential Sn porphyry as
suggested by the 3D inverse magnetic model (see Eloro press release
March 1, 2022). Thus far, 4,870 m in five (5) holes have been
completed in the Porco target area with assays pending.
Overall, the Company has completed 52,384m in 89
drill holes to-date, including four holes in progress, as shown in
Figures 1 and 2. Currently there are three (3) surface drills and
one (1) underground drill operating at Iska Iska. Tables 1, 2 and 3
list significant assay results for the drill holes in the major
target areas. Prices used for calculating Ag equivalent grades are
as outlined in Eloro’s February 1, 2022, press release. Table 4
summarizes drill holes with assays pending. Highlights are as
follows:
Santa Barbara Mineral Resource
Definition Target Area – Underground Drilling
Underground holes DSBU-06 and DSBU-05 were both
drilled on azimuth 00 and dips of -650 and -400, respectively, from
the Santa Barbara adit to test the northern extent of higher-grade
mineralization in the eastern part of the Santa Barbara target
area.
- Hole
DSBU-06 intersected 169.11 g Ag eq/t (64.30 g
Ag/t, 0.96% Zn, 0.37% Pb and 0.07% Sn) over 235.55m from
0.00m to 235.55m, including a higher-grade section of
314.52 g Ag eq/t (192.18 g Ag/t, 0.22 g Au/t, 0.07% Zn,
0.41% Pb, and 0.11% Sn) over 50.68m from 24.40m to 75.08m.
- This hole had a
second major intersection of 110.57 g Ag eq/t (17.38 g
Ag/t, 0.09 g Au/t, 0.30% Zn, 0.21% Pb and 0.11%Sn) over
128.44m from 264.14m to 392.58m.
- Overall,
86% of this 599.8m long hole had reportable intersections which
collectively average 129.70 g Ag eq/t.
- Hole
DSBU-05 intersected 141.05 g Ag eq/t (22.99 g Ag/t, 0.07 g Au/t,
0.18% Zn, 0.16% Pb, 0.21% Cu and 0.12% Sn) over 153.25m
from 0.00m to 153.25m which included high grade sections of:
- 201.23 g
Ag eq/t (21.77 g Ag/t, 0.06 g Au/t, 0.36% Zn, 0.30 %Pb, 0.63 %Cu
and 0.12% Sn) over 34.97m from 0.00m to 34.97m,
- 206.03 g
Ag eq/t (24.52 g Ag/t, 0.18 g Au/t, 0.14% Zn, 0.16 %Pb, 0.11% Cu
and 0.23% Sn) over 9.05m from 76.94m to 85.99m, and
- 242.83 g
Ag eq/t (31.67 g Ag/t, 0.04 g Au/t, 0.23% Zn, 0.19% Pb, 0.17% Cu
and 0.28% Sn) over 25.60m from 109.93m to 135.53m.
- Hole
DSBU-05 has a second major intersection lower in the hole
from 348.08m to 526.17m of 92.47 g Ag eq/t (23.86 g Ag/t,
0.96% Zn, 0.21% Pb) over 178.09m.
- Overall,
65% of this 641.9m long hole had reportable intersections which
collectively average 107.73 g Ag eq/t.
Dr. Bill Pearson, P.Geo. Executive Vice
President, Exploration commented: “As shown in Figure 3, a N-S
cross section looking east, holes DSBU-06 and DSBU-05 define a
significant extension to the north of the major high grade
mineralized area in the southern part of Santa Barbara. Further
drilling, especially deeper, is in progress to define the full
extent of this important high-grade zone. Analysis of borehole IP
data and the 3D inverse magnetic model by Eloro’s geophysicists Dr.
Chris Hale, P.Geo. and John Gilliatt, P.Geo. shows that the Mx
Chargeability indicates stronger mineralization at greater depth as
shown in Figure 4. The spatial agreement between the interpolated
chargeability and the mineralization intersected in these holes
also suggests that the mineralized zone may dip steeply to the
south. Further deeper drilling will be carried out to test this
highly prospective target. Drilling will also be carried out from
the southwest to test the Northwest Extension target as the best
mineralization intersected thus far is in the southern part of this
target zone.”
Dr. Pearson continued, “The addition of a fourth
drill and the more rapid turnaround from both our assay
laboratories at ALS and AHK has allowed us to increase the pace of
the exploration drill program considerably. In the next 2-3 weeks
we expect to have the GeologicAI core scanner on site. We have
worked closely with GeologicAI to build the database for the
scanner from all our available geological and geochemical
information. The scanner will allow us to better outline and track
the mineral and metal zonation at Iska Iska, which is critical to
efficiently explore this remarkable mineralizing system which
remains open in all directions.”
Dr. Osvaldo Arce, P.Geo., General Manager of
Eloro’s Bolivian subsidiary Minera Tupiza S.R.L. (“Minera Tupiza”),
further commented: “The dacitic volcanic domes and breccia pipes at
Iska Iska, which are the primary hosts of the epithermal
polymetallic Ag-Zn-Pb-Sn mineralization, appear to extend to a
depth of at least 1km. These intrude altered granodiorite and
intrusion breccias that are the primary hosts of xenothermal tin
and other higher temperature metals such as bismuth and tungsten.
The mineralization is quite complex in detail with extensive
breccias, veins, veinlets, stockworks and disseminations. The
likely primary distribution of both epithermal and xenothermal
mineralization is indicated by the metal zonation, alteration
zonation and geophysical responses. This data indicates that the
mineralized system strengthens with depth and may be much more
extensive than indicated in shallower drill holes.”
Santa Barbara Mineral Resource
Definition Target Area – Surface Drilling
Hole DSBS-01 was collared in
the southern part of the Santa Barbara target zone as shown in
Figure 2. This hole was drilled at an azimuth of 300 with a dip of
300 to a length of 700.8m.
-
163.23 g Ag eq/t (2.07 g Ag/t and 0.27% Sn) over
33.23m from 58.66m to 90.94m including 560.74 g Ag
eq/t (2.07 g Ag/t and 0.94% Sn) over 7.61m from 63.15m to
70.76m,
- 54.95 g
Ag eq/t (2.94 g Ag/t, 0.14% Pb, and 0.30% Cu) over 22.58m
from 225.36m to 247.94m including 129.69 g Ag eq/t (3.00 g
Ag/t and 0.88% Cu) over 3.04m from 225.36m to
228.40m.
- 90.79 g
Ag eq/t (5.36 g Ag/t, 0.85% Zn and 0.44% Pb) over 43.60m
from 285.56m to 329.16m including 146.04 g Ag eq/t (2.01 g
Ag/t, 1.36% Zn, 0.49% Pb and 0.09% Sn) over 4.59m from
294.43m to 299.02m and 200.55 g Ag eq/t (12.68 g Ag/t,
1.95% Zn, 0.93% Pb and 0.11% Sn) over 8.97m from 320.19m
to 329.16m
- 110.40 g
Ag eq/t (6.66 g Ag/t, 1.80% Zn and 0.40% Pb) over 55.63m
from 414.88m to 470.51m including 351.80 g Ag eq/t (28.05 g
Ag/t, 0.19 g Au/t, 4.99% Zn, 1.26% Pb and 0.22% Cu) over
4.45m from 416.39m to 40.84m and 153.44 g Ag eq/t
(4.34 g Ag/t, 2.95% Zn and 0.32% Pb) over 9.04m from
437.41m to 446.45m.
- 108.55 g
Ag eq/t (12.96 g Ag/t, 0.11 g Au/t, 1.43 % Zn and 0.43% Pb) over
31.71m from 491.56 to 523.27m including 192.64 g
Ag eq/t (27.91 g Ag/t, 0.25 g Au/t, 2.29% Zn and 0.89% Pb) over
10.63m from 509.62m to 520.25m.
- 68.66 g
Ag eq/t (8.94 g Ag/t, 1.02% Zn and 0.20% Pb) over 25.49m
from 611.34m to 636.83m including 114.99 g Ag eq/t (19.98 g
Ag/t, 1.65% Zn and 0.35% Pb) over 8.93m from 627.90 to
636.83m
- with further
intervals of reportable mineralization continuing to near the
terminus of the hole representing the furthest east and some of the
deepest mineralization yet encountered at Santa Barbara.
Further drilling is planned south-southeast of
this area to continue to trace the full extent of the
Ag-Au-Zn-Pb-Cu-Sn polymetallic epithermal system.
Northwest Extension, Santa Barbara
Mineral Resource Definition Target Area
Results for three (3) additional drillholes all
drilled at an azimuth of 2250 in the Northwest Extension Target
Area of Santa Barbara (see Figure 2) have been received. Holes
DSB-24 (-650), DSB-14 (-650) and DSB-22 (650) were collared 100m,
200m and 1000m, respectively northwest of the Santa Barbara adit
drill bay.
Hole DSB-24 intersected 22
reportable intersections as shown in Table 2 of which the best
results were deeper in the hole as follows:
- 120.18 g Ag eq/t (41.22 g Ag/t, 0.34% Zn, 0.23% Pb, and
0.09% Sn) over 33.23m from 371.50m to 386.58m,
- 132.43 g Ag eq/t (16.72 g Ag/t, 0.30% Zn, 0.10% Pb, and
0.16% Sn) over 25.36m from 398.61m to 423.97m, and,
- 197.26 g Ag eq/t (5.25 g Ag/t, 0.73% Zn, 0.08% Pb, and
0.26% Sn) over 23.63m from 483.64m to 507.27m.
Hole DHK-14, which was collared
100m northwest of Hole DSB-24, intersected 29 reportable
intersections of which the best results were as follows:
- 87.26 g Ag eq/t (17.05 g Ag/t, 0.06 g Au/t, 0.51% Pb
and 0.28% Cu) over 37.57m from 120.36m to 157.93m
- 58.63 g Ag eq/t (5.26 g Ag/t, 0.31%Zn and 0.21% Pb)
over 33.11m from 314.33m to 347.44m, including a
higher-grade section with 96.83 g Ag eq/t (7.83 g Ag/t,
0.57%Zn, 0.25% Pb and 0.09% Sn) over 10.54m from 314.33m
to 324.87m
- 87.26 g Ag eq/t (17.05 g Ag/t, 0.06 g Au/t, 0.51% Pb
and 0.28% Cu) over 37.57m from 120.36m to 157.93m
- 185.94 g Ag eq/t (10.38 g Ag/t, 0.09 g Au/t, 1.43% Zn,
0.20% Pb, 0.09% Cu and 0.14% Sn) over 16.86m from 597.64m
to 614.50m
Hole DHK-22 is the most northwesterly drill hole
completed thus far, approximately 1,000m (1km) northwest of the
Santa Barbara Drill Bay (see Figure 2). There were 10 reportable
intersections returned from this hole with the best results as
follows:
- 70.09 g Ag eq/t (2.99 g Ag/t and 0.42% Cu over
28.73m from 38.77m to 67.50m including 110.81 g Ag
eq/t (2.75 g Ag/t and 0.75% Cu) over 12.15m from 52.33m to
64.48m
- 107.19 g Ag eq/t (11.81 g Ag/t, 0.12 g Au/t, 0.23% Zn,
0.13% Cu and 0.10 %Sn) over 46.38m from 479.32m to 525.70m
including 398.55 g Ag eq/t (39.32 g Ag/t, 0.18% Zn. 0.50%
Cu and 0.46% Sn) over 7.50m from 479.32m to 486.82m
Table 1: Significant Results, Underground
Diamond Drilling, Santa Barbara Resource Definition Target Area as
at April 27, 2022.
SANTA BARBARA RESOURCE DEFINITION TARGET ZONE |
UNDERGROUND DRILL HOLES - SANTA BARBARA ADIT |
Hole No. |
From (m) |
To (m) |
Length (m) |
Ag |
Au |
Zn |
Pb |
Cu |
Sn |
Bi |
Cd |
Ag eq |
g/t |
g/t |
% |
% |
% |
% |
% |
% |
g/t |
DSBU-06 |
0.00 |
235.55 |
235.55 |
64.30 |
0.09 |
0.69 |
0.37 |
0.06 |
0.07 |
0.016 |
0.007 |
169.11 |
Incl. |
24.40 |
75.08 |
50.68 |
192.18 |
0.22 |
0.07 |
0.41 |
0.09 |
0.11 |
0.059 |
0.005 |
314.52 |
|
264.14 |
392.58 |
128.44 |
17.38 |
0.09 |
0.30 |
0.21 |
0.01 |
0.11 |
0.002 |
0.001 |
110.57 |
Incl. |
274.69 |
292.86 |
18.17 |
11.62 |
0.01 |
0.45 |
0.32 |
0.01 |
0.25 |
0.001 |
0.002 |
190.81 |
Incl. |
319.04 |
331.03 |
11.99 |
14.87 |
0.01 |
0.28 |
0.25 |
0.02 |
0.26 |
0.001 |
0.001 |
193.82 |
|
401.61 |
415.13 |
13.52 |
47.18 |
0.09 |
0.58 |
0.09 |
0.01 |
0.03 |
0.003 |
0.002 |
101.67 |
|
421.19 |
434.67 |
13.48 |
12.23 |
0.01 |
0.40 |
0.11 |
0.01 |
0.02 |
0.002 |
0.002 |
50.62 |
|
445.18 |
482.80 |
37.62 |
19.38 |
0.04 |
0.84 |
0.16 |
0.01 |
0.06 |
0.002 |
0.002 |
104.11 |
|
497.86 |
520.48 |
22.62 |
22.32 |
0.04 |
0.51 |
0.11 |
0.01 |
0.03 |
0.013 |
0.001 |
71.31 |
|
528.92 |
592.30 |
63.38 |
9.91 |
0.21 |
0.54 |
0.14 |
0.01 |
0.04 |
0.002 |
0.002 |
80.81 |
DSBU-05 |
0.00 |
153.25 |
153.25 |
22.99 |
0.07 |
0.18 |
0.16 |
0.21 |
0.12 |
0.010 |
0.003 |
141.05 |
Incl. |
0.00 |
34.97 |
34.97 |
21.77 |
0.06 |
0.36 |
0.30 |
0.63 |
0.11 |
0.007 |
0.003 |
201.23 |
Incl. |
76.94 |
85.99 |
9.05 |
24.52 |
0.18 |
0.14 |
0.16 |
0.11 |
0.23 |
0.013 |
0.004 |
206.03 |
Incl. |
109.93 |
135.53 |
25.60 |
31.67 |
0.04 |
0.23 |
0.19 |
0.17 |
0.28 |
0.014 |
0.001 |
242.83 |
|
190.40 |
212.94 |
22.54 |
6.06 |
0.04 |
0.42 |
0.41 |
0.02 |
0.04 |
0.013 |
0.012 |
73.74 |
|
229.48 |
235.54 |
6.06 |
6.19 |
0.02 |
0.43 |
0.10 |
0.05 |
0.05 |
0.004 |
0.003 |
67.75 |
|
249.08 |
261.10 |
12.02 |
18.11 |
0.27 |
0.07 |
0.23 |
0.02 |
0.01 |
0.005 |
0.011 |
62.92 |
|
285.03 |
306.00 |
20.97 |
57.04 |
0.06 |
0.06 |
0.14 |
0.04 |
0.03 |
0.008 |
0.007 |
94.58 |
|
249.08 |
261.10 |
12.02 |
18.11 |
0.27 |
0.07 |
0.23 |
0.02 |
0.01 |
0.005 |
0.011 |
62.92 |
|
348.08 |
526.17 |
178.09 |
23.86 |
0.03 |
0.96 |
0.21 |
0.01 |
0.02 |
0.013 |
0.004 |
92.47 |
|
535.29 |
541.40 |
6.11 |
6.68 |
0.09 |
0.84 |
0.12 |
0.00 |
0.05 |
0.004 |
0.002 |
85.49 |
|
551.91 |
553.44 |
1.53 |
26.00 |
0.09 |
2.56 |
0.08 |
0.01 |
0.05 |
0.038 |
0.007 |
189.67 |
|
583.55 |
585.04 |
1.49 |
2.00 |
0.03 |
1.44 |
0.01 |
0.01 |
0.02 |
0.001 |
0.004 |
84.03 |
|
605.90 |
610.32 |
4.42 |
4.61 |
0.05 |
2.00 |
0.04 |
0.01 |
0.01 |
0.001 |
0.007 |
111.87 |
Note: True width of the
mineralization is not known at the present time, but based on the
current understanding of the relationship between drill
orientation/inclination and the mineralization within the breccia
pipes and the host rocks such as sandstones and dacites, it is
estimated that true width ranges between 70% and 90% of the down
hole interval length but this will be confirmed by further drilling
and geological modelling.
Chemical symbols: Ag= silver, Au = gold, Zn =
zinc, Pb = lead, Cu = copper, Sn = tin, Bi = bismuth, Cd = cadmium
and g Ag eq/t = grams silver equivalent per tonne. Quantities are
given in percent (%) for Zn, Pb Cu, Sn, Bi and Cd and in grams per
tonne (g/t) for Ag, Au and Ag eq.
Metal prices and conversion factors used for
calculation of g Ag eq/t (grams Ag per grams x metal ratio) are as
follows (Prices updated as of February 1, 2022, to more accurately
reflect current metal prices):
Element |
Price $US (per kg) |
Ratio to Ag |
Ag |
$722.56 |
1.0000 |
Sn |
$42.56 |
0.0589 |
Zn |
$3.30 |
0.0046 |
Pb |
$2.33 |
0.0032 |
Au |
$57,604.00 |
79.7221 |
Cu |
$9.68 |
0.0134 |
Bi |
$12.76 |
0.0177 |
Cd |
$5.50 |
0.0076 |
In calculating the intersections reported in
this press release a sample cutoff of 30 g Ag eq/t was used with
generally a maximum dilution of 3 continuous samples below cutoff
included within a mineralized section unless more dilution is
justified geologically.
The equivalent grade calculations are based on
the stated metal prices and are provided for comparative purposes
only, due to the polymetallic nature of the deposit. Metallurgical
tests are in progress by Blue Coast Ltd. to establish levels of
recovery for each element reported but currently the potential
recovery for each element has not yet been established. While there
is no assurance that all or any of the reported concentrations of
metals will be recoverable, Bolivia has a long history of
successfully mining and processing similar polymetallic deposits
which is well documented in the landmark volume “Yacimientos
Metaliferos de Bolivia” by Dr. Osvaldo R. Arce Burgoa,
P.Geo.
Table 2: Significant Results, Surface
Diamond Drilling, Santa Barbara Resource Definition Target Area as
at April 27, 2022.
SANTA BARBARA RESOURCE DEFINITION TARGET ZONE |
SURFACE DIAMOND DRILLING - SOUTH SANTA BARBARA
AREA |
Hole No. |
From (m) |
To (m) |
Length (m) |
Ag |
Au |
Zn |
Pb |
Cu |
Sn |
Bi |
Cd |
Ag eq |
g/t |
g/t |
% |
% |
% |
% |
% |
% |
g/t |
DSBS-01 |
13.42 |
30.29 |
16.87 |
0.91 |
0.01 |
0.00 |
0.01 |
0.00 |
0.09 |
0.001 |
0.001 |
52.59 |
|
58.66 |
90.94 |
32.28 |
2.07 |
0.01 |
0.00 |
0.03 |
0.00 |
0.27 |
0.001 |
0.001 |
163.23 |
Incl. |
63.15 |
70.76 |
7.61 |
3.73 |
0.02 |
0.00 |
0.04 |
0.01 |
0.94 |
0.001 |
0.001 |
560.74 |
|
98.94 |
100.45 |
1.51 |
4.00 |
0.01 |
0.00 |
0.03 |
0.01 |
0.09 |
0.001 |
0.001 |
61.61 |
|
225.36 |
247.94 |
22.58 |
2.94 |
0.01 |
0.03 |
0.14 |
0.30 |
0.01 |
0.001 |
0.001 |
54.95 |
Incl. |
225.36 |
228.40 |
3.04 |
3.00 |
0.01 |
0.07 |
0.07 |
0.88 |
0.00 |
0.001 |
0.001 |
129.69 |
|
270.52 |
271.95 |
1.43 |
5.00 |
0.02 |
0.04 |
1.41 |
0.02 |
0.02 |
0.001 |
0.001 |
64.90 |
|
285.56 |
329.16 |
43.60 |
5.36 |
0.03 |
0.85 |
0.44 |
0.02 |
0.05 |
0.002 |
0.010 |
90.79 |
Incl. |
294.43 |
299.02 |
4.59 |
2.01 |
0.07 |
1.36 |
0.49 |
0.05 |
0.09 |
0.004 |
0.012 |
146.04 |
Incl. |
320.19 |
329.16 |
8.97 |
12.68 |
0.03 |
1.95 |
0.93 |
0.01 |
0.11 |
0.001 |
0.012 |
200.55 |
|
344.23 |
345.57 |
1.34 |
1.00 |
0.01 |
1.10 |
0.26 |
0.00 |
0.01 |
0.001 |
0.006 |
67.32 |
|
357.63 |
359.19 |
1.56 |
3.00 |
0.01 |
1.31 |
0.27 |
0.00 |
0.01 |
0.001 |
0.002 |
75.16 |
|
374.14 |
375.69 |
1.55 |
2.00 |
0.02 |
1.35 |
0.28 |
0.01 |
0.00 |
0.001 |
0.004 |
76.69 |
|
414.88 |
470.51 |
55.63 |
6.66 |
0.03 |
1.80 |
0.40 |
0.03 |
0.00 |
0.003 |
0.005 |
110.40 |
Incl. |
416.39 |
420.84 |
4.45 |
28.05 |
0.19 |
4.99 |
1.26 |
0.22 |
0.01 |
0.032 |
0.019 |
351.80 |
Incl. |
437.41 |
446.45 |
9.04 |
4.34 |
0.01 |
2.95 |
0.32 |
0.01 |
0.00 |
0.001 |
0.008 |
153.44 |
|
484.02 |
485.54 |
1.52 |
3.00 |
0.01 |
1.27 |
0.14 |
0.01 |
0.00 |
0.001 |
0.003 |
68.15 |
|
491.56 |
523.27 |
31.71 |
12.96 |
0.11 |
1.43 |
0.43 |
0.02 |
0.01 |
0.004 |
0.005 |
108.55 |
Incl. |
509.62 |
520.25 |
10.63 |
27.91 |
0.25 |
2.29 |
0.89 |
0.03 |
0.01 |
0.008 |
0.009 |
192.64 |
|
541.79 |
549.58 |
7.79 |
2.69 |
0.01 |
1.38 |
0.10 |
0.00 |
0.00 |
0.001 |
0.005 |
72.22 |
|
591.69 |
594.70 |
3.01 |
3.51 |
0.02 |
1.24 |
0.13 |
0.01 |
0.00 |
0.001 |
0.003 |
68.82 |
|
599.26 |
600.79 |
1.53 |
13.00 |
0.13 |
4.03 |
0.32 |
0.01 |
0.01 |
0.003 |
0.018 |
224.85 |
|
611.34 |
636.83 |
25.49 |
8.94 |
0.03 |
1.02 |
0.20 |
0.01 |
0.00 |
0.001 |
0.003 |
68.66 |
Incl. |
627.90 |
636.83 |
8.93 |
19.98 |
0.04 |
1.65 |
0.35 |
0.01 |
0.00 |
0.003 |
0.006 |
114.99 |
|
668.88 |
670.41 |
1.53 |
111.00 |
0.01 |
0.27 |
3.64 |
0.00 |
0.00 |
0.001 |
0.001 |
242.99 |
|
683.93 |
689.86 |
5.93 |
9.73 |
0.11 |
2.69 |
0.35 |
0.02 |
0.00 |
0.003 |
0.013 |
157.74 |
See Note Table 1.
Table 3: Significant Results, Surface
Diamond Drilling, Santa Barbara Resource Definition Target Area –
Northwest Extension as at April 27, 2022.
SANTA BARBARA RESOURCE DEFINITION TARGET ZONE |
SURFACE DIAMOND DRILLING - NORTHWEST
EXTENSION |
Hole No. |
From (m) |
To (m) |
Length (m) |
Ag |
Au |
Zn |
Pb |
Cu |
Sn |
Bi |
Cd |
Ag eq |
g/t |
g/t |
% |
% |
% |
% |
% |
% |
g/t |
DSB-14 |
60.17 |
61.69 |
1.52 |
9.00 |
2.08 |
0.00 |
0.03 |
0.04 |
0.00 |
0.001 |
0.001 |
182.35 |
|
82.80 |
84.44 |
1.64 |
27.00 |
0.39 |
0.00 |
0.02 |
0.04 |
0.00 |
0.001 |
0.001 |
65.49 |
|
97.86 |
100.83 |
2.97 |
68.63 |
0.01 |
0.00 |
0.13 |
0.16 |
0.00 |
0.001 |
0.001 |
97.15 |
|
120.36 |
157.93 |
37.57 |
17.15 |
0.06 |
0.01 |
0.51 |
0.28 |
0.02 |
0.004 |
0.001 |
87.26 |
|
180.45 |
196.91 |
16.46 |
7.95 |
0.04 |
0.01 |
0.19 |
0.26 |
0.01 |
0.001 |
0.001 |
58.44 |
|
202.91 |
213.55 |
10.64 |
8.75 |
0.01 |
0.01 |
0.21 |
0.15 |
0.04 |
0.001 |
0.001 |
62.48 |
|
231.57 |
236.38 |
4.81 |
2.01 |
0.01 |
0.04 |
0.17 |
0.29 |
0.01 |
0.001 |
0.005 |
54.82 |
|
267.76 |
293.36 |
25.60 |
1.57 |
0.01 |
0.71 |
0.19 |
0.01 |
0.02 |
0.001 |
0.003 |
54.95 |
|
314.33 |
347.44 |
33.11 |
5.26 |
0.01 |
0.31 |
0.21 |
0.01 |
0.05 |
0.001 |
0.004 |
58.63 |
Incl. |
314.33 |
324.87 |
10.54 |
7.83 |
0.02 |
0.57 |
0.25 |
0.01 |
0.09 |
0.001 |
0.003 |
96.83 |
|
367.01 |
368.54 |
1.53 |
8.00 |
0.01 |
0.26 |
0.58 |
0.01 |
0.09 |
0.004 |
0.005 |
91.01 |
|
382.18 |
389.59 |
7.41 |
23.89 |
0.01 |
0.32 |
0.12 |
0.01 |
0.07 |
0.003 |
0.001 |
87.18 |
|
398.65 |
410.68 |
12.03 |
26.58 |
0.06 |
0.14 |
0.05 |
0.01 |
0.04 |
0.003 |
0.001 |
65.02 |
|
430.28 |
431.78 |
1.50 |
6.00 |
0.60 |
0.15 |
0.19 |
0.02 |
0.03 |
0.008 |
0.001 |
85.91 |
|
448.25 |
454.20 |
5.95 |
3.98 |
0.03 |
0.68 |
0.20 |
0.02 |
0.02 |
0.001 |
0.002 |
58.96 |
|
464.72 |
467.78 |
3.06 |
18.83 |
0.01 |
1.24 |
0.99 |
0.02 |
0.04 |
0.001 |
0.006 |
137.60 |
|
475.27 |
478.20 |
2.93 |
5.47 |
0.01 |
0.58 |
1.12 |
0.00 |
0.01 |
0.001 |
0.041 |
76.07 |
|
481.22 |
482.72 |
1.50 |
9.00 |
0.02 |
0.01 |
0.19 |
0.00 |
0.02 |
0.001 |
0.010 |
77.26 |
|
518.20 |
521.07 |
2.87 |
29.09 |
0.10 |
0.40 |
1.19 |
0.01 |
0.45 |
0.003 |
0.008 |
360.91 |
|
528.61 |
530.10 |
1.49 |
8.00 |
0.03 |
0.16 |
0.25 |
0.02 |
0.10 |
0.001 |
0.011 |
89.86 |
|
549.27 |
555.12 |
5.85 |
6.62 |
0.01 |
0.27 |
0.21 |
0.02 |
0.06 |
0.001 |
0.001 |
67.81 |
|
567.11 |
570.11 |
3.00 |
7.82 |
0.02 |
0.64 |
0.16 |
0.02 |
0.07 |
0.001 |
0.003 |
86.20 |
|
597.64 |
614.50 |
16.86 |
10.38 |
0.09 |
1.43 |
0.20 |
0.09 |
0.14 |
0.007 |
0.005 |
185.94 |
|
632.50 |
633.92 |
1.42 |
7.00 |
0.05 |
1.27 |
0.08 |
0.07 |
0.06 |
0.002 |
0.001 |
118.00 |
|
650.26 |
654.83 |
4.57 |
4.90 |
0.05 |
1.41 |
0.09 |
0.11 |
0.03 |
0.002 |
0.001 |
112.37 |
|
841.10 |
842.60 |
1.50 |
4.00 |
0.02 |
0.18 |
0.04 |
0.45 |
0.02 |
0.002 |
0.001 |
85.19 |
|
884.56 |
886.05 |
1.49 |
1.00 |
0.05 |
0.49 |
0.03 |
0.14 |
0.02 |
0.023 |
0.002 |
64.76 |
|
889.06 |
890.56 |
1.50 |
4.00 |
0.02 |
0.76 |
0.14 |
0.15 |
0.03 |
0.007 |
0.002 |
81.53 |
|
893.59 |
895.06 |
1.47 |
5.00 |
0.02 |
0.73 |
0.19 |
0.23 |
0.02 |
0.005 |
0.003 |
89.45 |
|
955.14 |
959.62 |
4.48 |
2.33 |
0.06 |
0.09 |
0.02 |
0.17 |
0.00 |
0.153 |
0.001 |
63.84 |
SANTA BARBARA RESOURCE DEFINITION TARGET ZONE |
SURFACE DIAMOND DRILLING - NORTHWEST
EXTENSION |
Hole No. |
From (m) |
To (m) |
Length (m) |
Ag |
Au |
Zn |
Pb |
Cu |
Sn |
Bi |
Cd |
Ag eq |
g/t |
g/t |
% |
% |
% |
% |
% |
% |
g/t |
DSB-24 |
0.00 |
8.79 |
8.79 |
4.48 |
0.21 |
0.01 |
0.12 |
0.01 |
0.06 |
0.005 |
0.001 |
60.86 |
|
75.19 |
106.48 |
31.29 |
14.70 |
0.03 |
0.02 |
0.15 |
0.10 |
0.01 |
0.001 |
0.001 |
44.47 |
|
137.98 |
142.43 |
4.45 |
0.83 |
0.45 |
0.20 |
0.16 |
0.01 |
0.01 |
0.001 |
0.016 |
61.21 |
|
162.03 |
163.57 |
1.54 |
3.00 |
0.02 |
0.94 |
0.41 |
0.08 |
0.09 |
0.002 |
0.026 |
126.97 |
|
171.08 |
198.08 |
27.00 |
6.75 |
0.03 |
0.34 |
0.23 |
0.03 |
0.03 |
0.001 |
0.032 |
56.40 |
|
213.00 |
225.06 |
12.06 |
17.98 |
0.09 |
0.64 |
0.37 |
0.04 |
0.02 |
0.005 |
0.002 |
86.19 |
|
231.20 |
232.61 |
1.41 |
10.00 |
0.04 |
0.16 |
0.08 |
0.06 |
0.05 |
0.002 |
0.001 |
61.51 |
|
240.13 |
244.64 |
4.51 |
7.00 |
0.13 |
0.40 |
0.17 |
0.03 |
0.03 |
0.006 |
0.004 |
63.72 |
|
255.14 |
258.14 |
3.00 |
15.45 |
0.12 |
0.40 |
0.14 |
0.01 |
0.02 |
0.014 |
0.003 |
62.14 |
|
262.59 |
264.08 |
1.49 |
24.00 |
0.01 |
0.18 |
0.11 |
0.00 |
0.03 |
0.056 |
0.001 |
62.66 |
|
280.53 |
295.46 |
14.93 |
9.51 |
0.03 |
0.48 |
0.08 |
0.02 |
0.02 |
0.009 |
0.002 |
49.93 |
|
340.05 |
344.53 |
4.48 |
8.76 |
0.01 |
0.48 |
0.43 |
0.01 |
0.02 |
0.004 |
0.015 |
59.13 |
|
371.50 |
386.58 |
33.23 |
41.22 |
0.03 |
0.34 |
0.23 |
0.01 |
0.09 |
0.001 |
0.002 |
120.18 |
Incl. |
353.35 |
368.52 |
15.17 |
34.92 |
0.02 |
0.48 |
0.31 |
0.01 |
0.10 |
0.001 |
0.003 |
130.97 |
|
398.61 |
423.97 |
25.36 |
16.72 |
0.02 |
0.30 |
0.10 |
0.01 |
0.16 |
0.001 |
0.001 |
132.43 |
|
450.91 |
461.50 |
10.59 |
22.91 |
0.02 |
0.03 |
0.01 |
0.02 |
0.04 |
0.001 |
0.001 |
52.03 |
|
483.64 |
507.27 |
23.63 |
5.25 |
0.03 |
0.73 |
0.08 |
0.00 |
0.26 |
0.001 |
0.005 |
197.26 |
|
529.03 |
533.64 |
4.61 |
8.01 |
0.07 |
0.11 |
0.06 |
0.00 |
0.09 |
0.001 |
0.001 |
74.66 |
|
562.00 |
563.50 |
1.50 |
9.00 |
0.07 |
0.43 |
0.22 |
0.02 |
0.07 |
0.001 |
0.001 |
84.64 |
|
593.43 |
594.96 |
1.53 |
9.00 |
0.02 |
0.09 |
0.02 |
0.08 |
0.08 |
0.001 |
0.001 |
71.81 |
|
656.43 |
663.91 |
7.48 |
2.22 |
0.26 |
0.59 |
0.09 |
0.01 |
0.03 |
0.002 |
0.002 |
73.60 |
|
680.29 |
684.93 |
4.64 |
4.95 |
0.11 |
0.30 |
0.03 |
0.04 |
0.03 |
0.009 |
0.001 |
51.68 |
|
701.50 |
702.97 |
1.47 |
3.00 |
0.04 |
0.41 |
0.01 |
0.06 |
0.05 |
0.001 |
0.001 |
64.81 |
Hole No. |
From (m) |
To (m) |
Length (m) |
Ag |
Au |
Zn |
Pb |
Cu |
Sn |
Bi |
Cd |
Ag eq |
g/t |
g/t |
% |
% |
% |
% |
% |
% |
g/t |
DSB-22 |
38.77 |
67.50 |
28.73 |
2.99 |
0.01 |
0.00 |
0.08 |
0.42 |
0.01 |
0.001 |
0.001 |
70.09 |
Incl. |
52.33 |
64.48 |
12.15 |
2.75 |
0.01 |
0.00 |
0.08 |
0.75 |
0.01 |
0.001 |
0.001 |
110.81 |
|
117.90 |
119.41 |
1.51 |
2.00 |
0.99 |
0.02 |
0.06 |
0.01 |
0.01 |
0.018 |
0.013 |
92.81 |
|
140.44 |
142.06 |
1.62 |
3.00 |
0.10 |
0.79 |
0.11 |
0.01 |
0.01 |
0.001 |
0.072 |
63.27 |
|
209.50 |
211.02 |
1.52 |
2.00 |
0.01 |
0.10 |
0.00 |
0.01 |
0.12 |
0.001 |
0.001 |
78.13 |
|
268.23 |
269.69 |
1.46 |
42.00 |
0.04 |
0.03 |
0.16 |
0.03 |
0.09 |
0.001 |
0.001 |
108.86 |
|
280.22 |
281.75 |
1.53 |
133.00 |
0.13 |
0.31 |
0.03 |
0.02 |
0.02 |
0.050 |
0.001 |
180.55 |
|
280.22 |
296.71 |
8.93 |
5.47 |
0.02 |
1.16 |
0.07 |
0.01 |
0.01 |
0.001 |
0.001 |
70.72 |
|
455.21 |
456.73 |
1.52 |
25.00 |
2.02 |
0.40 |
0.01 |
0.09 |
0.07 |
0.069 |
0.001 |
267.16 |
|
479.32 |
525.70 |
46.38 |
11.81 |
0.12 |
0.23 |
0.00 |
0.13 |
0.10 |
0.012 |
0.001 |
107.19 |
Incl. |
479.32 |
486.82 |
7.50 |
39.32 |
0.09 |
0.18 |
0.01 |
0.50 |
0.46 |
0.030 |
0.001 |
398.55 |
|
593.08 |
609.64 |
16.56 |
7.42 |
0.18 |
0.76 |
0.03 |
0.13 |
0.02 |
0.002 |
0.001 |
84.87 |
See Note Table 1.
Figure 1 – Geological Plan Map showing
Major Drilling areas. Santa Barbara is shown in more detail in
Figure
2.https://www.globenewswire.com/NewsRoom/AttachmentNg/984e7eb9-89cc-4d12-af54-aeab0ffceac2
Figure 2: Geological Plan Map of the
Santa Barbara Mineral Resource Target Area with Diamond Drill
Holeshttps://www.globenewswire.com/NewsRoom/AttachmentNg/c780052e-57da-4d04-9158-3c2958d0e26d
Figure 3: North-South Geological Section
looking East across High Grade Target Area in Santa
Barbarahttps://www.globenewswire.com/NewsRoom/AttachmentNg/d07121ff-91b3-4145-9982-35fe7147ad31
Figure 4: Borehole Induced Polarization
(IP) Mx Chargeability Section with Holes DSBU-05 and DSBU-06
looking
east.https://www.globenewswire.com/NewsRoom/AttachmentNg/76c9de76-9191-4af4-90de-8be1b4d8d5b5
Table 4: Summary of Diamond Drill Holes
Completed with Assays Pending and Drill Holes in Progress at Iska
Iska from April 27, 2022 press release.
SUMMARY DIAMOND DRILLING ISKA ISKA |
Hole No. |
Type |
Collar Easting |
Collar Northing |
Elev |
Azimuth |
Angle |
Hole length (m) |
Surface Drilling Santa Barbara Breccia |
DHK-24 |
S |
205529.4 |
7656222.5 |
4153.4 |
225° |
-60° |
In Progress |
DHK-25 |
S |
205526.9 |
7656384.7 |
4178.1 |
225° |
-55° |
In Progress |
Surface Drilling Northwest Extension Santa
Barbara |
DSB-16 |
S |
204973.9 |
7657053.1 |
4147.1 |
225° |
-65° |
862.0 |
DSB-17 |
S |
205136.3 |
7656770.8 |
4168.1 |
225° |
-40° |
841.0 |
DSB-18 |
S |
205209.3 |
7656683.3 |
4172.5 |
225° |
-40° |
890.4 |
DSB-19 |
S |
205209.9 |
7656684.0 |
4172.5 |
225° |
-65° |
803.3 |
DSB-23 |
S |
205343.3 |
7656534.4 |
4176.1 |
225° |
-40° |
863.2 |
DSB-26 |
S |
205044.5 |
7656982.6 |
4150.0 |
225° |
-40° |
815.4 |
DSB-27 |
S |
205044.5 |
7656982.6 |
4150.0 |
225° |
-65° |
800.4 |
|
|
|
|
|
|
Subtotal |
5,875.7 |
Underground Drilling Santa Barbara Adit |
DSBU-04 |
UG |
205283.7 |
7656071.6 |
4168.2 |
180° |
-20° |
570.0 |
DSBU-07 |
UG |
205284.5 |
7656080.0 |
4167.1 |
235° |
-50° |
800.9 |
DSBU-08 |
UG |
205284.5 |
7656080.0 |
4167.1 |
200° |
-50° |
866.8 |
DSBU-09 |
UG |
205284.5 |
7656080.0 |
4167.1 |
90° |
-60° |
904.0 |
|
|
|
|
|
|
Subtotal |
3,141.7 |
DSBU-10 |
UG |
205284.5 |
7656080.0 |
4167.1 |
40° |
-60° |
In Progress |
Surface Drilling South Extension Santa
Barbara |
DSBS-01 |
S |
205300.0 |
7655563.0 |
4195.0 |
30° |
-30° |
700.8 |
DSBS-02 |
S |
205300.0 |
7655563.0 |
4195.0 |
0° |
-45° |
1023.4 |
|
|
|
|
|
|
Subtotal |
1,724.2 |
Porco Target Area - Surface Drill Program Testing Magnetic
Inverse Model |
DPC-07 |
S |
205090.1 |
7655340.9 |
4310.0 |
235° |
-60° |
791.4 |
DPC-08 |
S |
205585.0 |
7655423.6 |
4089.0 |
235° |
-65° |
800.4 |
DPC-09 |
S |
205456.7 |
7655516.6 |
4125.0 |
180° |
-75° |
1124.4 |
DPC-10 |
S |
205396.5 |
7655701.2 |
4148.0 |
225° |
-60° |
1088.4 |
DPC-11 |
S |
205456.7 |
7655516.6 |
4125.0 |
235° |
-70° |
1065.0 |
|
|
|
|
|
|
Subtotal |
4,869.6 |
DPC-12 |
S |
205650.0 |
7655200.0 |
4100.0 |
235° |
-70° |
In Progress |
|
|
|
|
|
|
Subtotal |
15,611.2 |
S = Surface UG=Underground; collar coordinates
in metres; azimuth and dip in degrees. Total drilling completed
since the start of the program on September 13, 2020 to December
17, 2021 is 40,468 m in 73 holes (26 underground holes and 47
surface holes). From re-start of drilling on January 17, 2022, an
additional 11,196m has been completed bringing the overall total to
52,384m in 89 drill holes (30 underground drill holes and 59
surface drill holes) including 4 holes in progress.
Qualified Person
Dr. Osvaldo Arce, P. Geo., General Manager of
Minera Tupiza, and a Qualified Person in the context of NI 43-101,
has reviewed and approved the technical content of this news
release. Dr. Bill Pearson, P.Geo., Executive Vice
President Exploration Eloro, and who has more than 45 years of
worldwide mining exploration experience including extensive work in
South America, manages the overall technical program working
closely with Dr. Osvaldo Arce, P.Geo., Manager of Minera Tupiza.
Dr. Quinton Hennigh, P.Geo., Senior Technical Advisor to Eloro and
Independent Technical Advisor, Mr. Charley Murahwi P. Geo., FAusIMM
of Micon International Limited are regularly consulted on technical
aspects of the project.
The magnetic survey was carried out by MES
Geophysics using a GEM Systems GSM-19W Overhauser magnetometer. Dr.
Chris Hale, P.Geo. and Mr. John Gilliatt, P.Geo. of Intelligent
Exploration provided the survey design, preparation of the maps and
interpretation from data processed and quality reviewed by Rob
McKeown, P. Geo. of MES Geophysics. Messrs. Hale, Gilliatt and
McKeown are Qualified Persons as defined under NI 43-101. Mr. Joe
Mihelcic, P.Eng., P.Geo., of Clearview Geophysics, a QP under NI
43-101, completed the 3D magnetic inversion model in consultation
with Dr. Hale and Mr. Gilliatt. The Borehole IP surveys are being
carried out by MES Geophysics under the supervision of Dr. Hale and
Mr. Gilliatt.
Eloro is utilizing both ALS and AHK for drill
core analysis, both of whom are major international accredited
laboratories. Drill samples sent to ALS are prepared in both
ALS Bolivia Ltda’s preparation facility in Oruro, Bolivia and
the preparation facility operated by AHK in Tupiza with pulps sent
to the main ALS Global laboratory in Lima for analysis. More
recently Eloro has had ALS send pulps to their laboratory at Galway
in Ireland. Eloro employs an industry standard QA/QC program with
standards, blanks and duplicates inserted into each batch of
samples analyzed with selected check samples sent to a separate
accredited laboratory.
Drill core samples sent to AHK Laboratories are
prepared in a preparation facility installed and managed by AHK in
Tupiza with pulps sent to the AHK laboratory in Lima, Peru. Au and
Sn analysis on these samples is done by ALS Bolivia Ltda in Lima.
Check samples between ALS and AHK are regularly done as a QA/QC
check. AHK is following the same analytical protocols used as with
ALS and with the same QA/QC protocols. Turnaround time continues to
improve, as laboratories return to more normal staffing levels.
About Iska Iska
Iska Iska silver-tin polymetallic project is a
road accessible, royalty-free property, wholly controlled by the
Title Holder, Empresa Minera Villegas S.R.L. and is located 48 km
north of Tupiza city, in the Sud Chichas Province of the Department
of Potosi in southern Bolivia. Eloro has an option to earn a 99%
interest in Iska Iska.
Iska Iska is a major silver-tin polymetallic
porphyry-epithermal complex associated with a Miocene possibly
collapsed/resurgent caldera, emplaced on Ordovician age rocks with
major breccia pipes, dacitic domes and hydrothermal breccias. The
caldera is 1.6km by 1.8km in dimension with a vertical extent of at
least 1km. Mineralization age is similar to Cerro Rico de Potosí
and other major deposits such as San Vicente, Chorolque, Tasna and
Tatasi located in the same geological trend.
Eloro began underground diamond drilling from
the Huayra Kasa underground workings at Iska Iska on September 13,
2020. On November 18, 2020, Eloro announced the discovery of a
significant breccia pipe with extensive silver polymetallic
mineralization just east of the Huayra Kasa underground workings
and a high-grade gold-bismuth zone in the underground workings. On
November 24, 2020, Eloro announced the discovery of the SBBP
approximately 150m southwest of the Huayra Kasa underground
workings.
Subsequently, on January 26, 2021, Eloro
announced significant results from the first drilling at the SBBP
including the discovery hole DHK-15 which returned 129.60 g Ag eq/t
over 257.5m (29.53g Ag/t, 0.078g Au/t, 1.45%Zn, 0.59%Pb, 0.080%Cu,
0.056%Sn, 0.0022%In and 0.0064% Bi from 0.0m to 257.5m. Subsequent
drilling has confirmed significant values of Ag-Sn polymetallic
mineralization in the SBBP and the adjacent CBP. A substantive
mineralized envelope which is open along strike and down-dip
extends around both major breccia pipes. Continuous channel
sampling of the Santa Barbara Adit located to the east of SBBP
returned 442 g Ag eq/t (164.96 g Ag/t, 0.46%Sn, 3.46% Pb and 0.14%
Cu) over 166m including 1,092 g Ag eq/t (446 g Ag/t, 9.03% Pb and
1.16% Sn) over 56.19m. The west end of the adit intersects the end
of the SBBP.
Since the initial discovery hole, Eloro has
released a number of significant drill results in the SBBP and the
surrounding mineralized envelope which along with geophysical data
has defined a target zone 1400m along strike, 500m wide and that
extends to a depth of 600m. This zone is open along strike to the
northwest and southeast as well as to the southwest. The Company’s
nearer term objective is to outline a maiden NI 43-101 compliant
mineral resource within this large target area. This work is
advancing well with the mineral resource targeted to be completed
in Q3 2022. Exploration drilling is also planned on other major
targets in the Iska Iska Caldera Complex, including the Porco and
Mina 2 areas.
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 99%
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. Eloro commissioned a NI 43-101 Technical Report
on Iska Iska, which was completed by Micon International Limited
and 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. La Victoria consists of eight mining concessions
and eight mining claims encompassing approximately 89 square
kilometres. La Victoria has good infrastructure with access to
road, water and electricity and is located at an altitude that
ranges from 3,150 m to 4,400 m above sea level.
For further information please contact
either Thomas G. Larsen, Chairman and CEO or Jorge Estepa,
Vice-President at (416) 868-9168.
Information in this news release may contain
forward-looking information. Statements containing forward-looking
information express, as at the date of this news release, the
Company’s plans, estimates, forecasts, projections, expectations,
or beliefs as to future events or results and are believed to be
reasonable based on information currently available to the Company.
There can be no assurance that forward-looking statements will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. Readers
should not place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
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