Peter Marrone Appointed to the Position of Senior Corporate Advisor to Eloro Resources Ltd.
June 06 2022 - 6:00AM
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE:
P2QM) (“
Eloro” or the
“
Corporation”) is pleased to
announce that Mr. Peter Marrone, a shareholder of Eloro,
has agreed to serve as an independent advisor to provide support
and strategic advice to management on matters of project
advancement and business development in relation to its Iska Iska
project.
Peter Marrone is Executive Chairman of Yamana
Gold Inc., which he founded in 2003 and which recently announced
that it is to be acquired by Gold Fields Limited, a combination
that creates a world-class, globally diversified company with
regional relevance across premier, rules-based mining jurisdictions
that is underpinned by low cost, long life mines. Mr. Marrone has a
long track record of successful mining start-ups and investments
with more than 35 years of mining, business and capital markets
experience. Mr. Marrone also currently sits on the board of
directors, and is one of the founders, of Aris Gold Corporation
which holds one of the best portfolios of producing and development
stage assets in Colombia. Mr. Marrone has also been the head of
investment banking at a major Canadian investment bank and before
that practised law in Toronto with a strong focus on corporate law,
securities law and international transactions.
“I am extremely pleased to welcome Mr. Peter
Marrone as a Senior Corporate Advisor”, said Eloro Chairman and
C.E.O. Mr. Tom Larsen. “Peter brings valued knowledge and
experience that will be helpful to our management in relation to
all aspects of Eloro’s operations, capital markets efforts and
strategic avenues for development and realization of significant
value from our highly prospective Iska Iska tin-silver polymetallic
project in Bolivia. With his proven success as the founder of
companies and his outstanding track record in developing and
advancing exploration projects, and realizing value from strategic
efforts, it is clearly a benefit for Eloro and its shareholders and
I very much look forward to working with him.”
Peter Marrone commented: “I am
impressed with the size and scale of Iska Iska which
should be developed in time as a world class tin-silver deposit
with large scale production, all of which coincides with a time
when tin in particular is in high demand and silver is a
necessary component for decarbonization. The tin market is
intriguing to me. It is poised for what appears to be a clear
upward path for demand and price. Eloro has built a very
strong management team that is continuing to rapidly
advance Iska Iska with major
milestones, including the inaugural National Instrument
43-101 mineral resource expected in Q3 2022. As a
shareholder, I have become impressed with the project and
management. Informally, I have been consulted from time to time by
management and I look forward to continuing to provide strategic
advice to management and to CEO Tom Larsen and Executive VP
Exploration Dr. Bill Pearson, P.Geo., in particular.
Interestingly, Bill has known me for many years and has an
impressive resume of quality geological discoveries that now
includes Iska Iska which is likely the crowning glory of an
illustrious career. Simply put, Iska Iska is a world-class project
and I look forward to helping management to increase value for
Eloro shareholders.”
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. A 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. 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
Corporation’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 Corporation. 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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