Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE:
P2QM) (“Eloro”, or the “Company”) is pleased to announce
the launch of its Virtual Site Tour utilizing the VRIFY Technology
Inc. (“VRIFY”) platform to showcase the Iska Iska silver-tin
polymetallic project in the Potosi District of southern Bolivia.
The VRIFY platform will assist investors to better understand the
scale and extent of Eloro’s major discovery at Iska Iska. In
particular, the presentation highlights grade shell modelling in
Leapfrog of the higher-grade feeder zone at Santa Barbara which has
been the focus of recent drilling. As the drilling program
progresses, Eloro will regularly update VRIFY to illustrate how new
drilling results are advancing the project and leading to an
inaugural NI 43-101 mineral resource estimate, expected in Q4 2022.
The 3D renderings, satellite imagery and 3600
drone footage amalgamated into the VRIFY platform provides Eloro
with enhanced content for its website and corporate presentation.
The VRIFY presentation provides property location, topography,
infrastructure, geology and geophysical information. It showcases
exploration activities including drilling, 3D models of
polymetallic mineralization and upside deposit potential.
VRIFY Technology Inc. is a cloud-based 3D
presentation and collaboration technology platform used by
companies to communicate with investors using 360° virtual tours of
remote mining assets, 3D deposit models and interactive
presentations. VRIFY can be accessed by website and with the VRIFY
iOS and Android apps.
The Eloro Company Profile on VRIFY can
be accessed here:
https://vrify.com/companies/eloro-resources-ltd?investor=true
Interactive VRIFY 3D Model
To view an interactive 3D model of the Iska Iska
Project please visit Eloro’s website at www.elororesources.com.
Tom Larsen, CEO of Eloro, commented: “We are
excited to launch Iska Iska on the VRIFY platform, which has become
widely used in the mining industry to enhance shareholders
understanding of exploration and mining projects. The Iska Iska
VRIFY presentation gives investors an excellent sense of the
remarkable scale of Iska Iska and the major potential we see to
outline a substantive polymetallic silver-tin polymetallic mineral
resource. Furthermore, the 3D geological and geophysical models
illustrate that we have explored only a small part of this immense
porphyry-epithermal system which is open along strike, across
strike and down dip at depth.
Qualified Person
Dr. Osvaldo Arce, P. Geo., General Manager of
Eloro’s Bolivian subsidiary, Minera Tupiza S.R.L., 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. Dr. Quinton
Hennigh, P.Geo., Senior Technical Advisor to Eloro and Independent
Technical Advisor, Mr. Charley Murahwi P. Geo., FAusIMM of Micon
are regularly consulted on technical aspects of the project.
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. A recent 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
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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