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Eloro drills 198 g/t AgEq over 134.47 metres at Iska Iska, Bolivia

Eloro Resources Ltd. [ELO-TSXV; ELRRF-OTCQX; P2QM-FSE] reported assay results from two additional diamond drill holes…

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This article was originally published by Resource World

Eloro Resources Ltd. [ELO-TSXV; ELRRF-OTCQX; P2QM-FSE] reported assay results from two additional diamond drill holes from its continuing drilling program at the 99%-optioned Iska Iska silver-tin polymetallic project in the Potosi department, southern Bolivia. One drill hole, DSB-31, tested the potential south-southeastern extension of the high-grade feeder zone at Santa Barbara while the second hole, DSB-33, tested the southwest limit of the zone in the vicinity of the Central breccia.

In its September 20, 2022, press release, the company reported new downhole geophysical data have significantly extended the strike length of the high-grade feeder zone at Santa Barbara a further 250 metres along strike south-southeast from existing drilling. The 3-D inverse magnetic model which correlates very strongly with the conductive zone suggests that the high-grade feeder zone may extend across the entire caldera for as much as a further 1 km along strike for a total potential strike length of at least 2 km. As previously reported, the definition drill program has been modified to sectionally drill this potential extension with the intention of defining a major open-pittable deposit in the valley of the caldera. As a result, the estimated completion date for the maiden NI 43-101 mineral resource has been pushed back to the end of Q1 2023.

The company has completed 77,182 metres in 119 drill holes at Iska Iska, including four holes in progress. Hole DSB-31 was drilled to test the potential south-southeastern extension of the Santa Barbara High Grade Feeder Zone. This hole was collared approximately 200m south-southeast of the underground drill bay in the Santa Barbara adit and was drilled at an azimuth of 2250 with a dip of -600. This hole intersected several extensive high grade silver zones, including 198.00 g/t AgEq (silver equivalent) (67.79 g/t silver, 1.44% zinc and 1.04% lead) over 134.47 metres from 11.61 metres to 146.06 metres, including a higher-grade portion of 566.36 g/t AgEq (246.26 g/t Ag, 3.72% Zn and 3.88% Pb) over 25.51 metres from 113.09 metres to 138.60 metres; 161.54 g/t AgEq (32.14 g/t Ag, 1.94% Zn and 0.76% Pb) over 82.12 metres from 168.46 metres to 250.58 metres, including a higher-grade portion of 384.21 g/t AgEq (104.09 g/t Ag, 3.74% Zn and 2.34% Pb) over 19.14 metres from 210.45 metres to 229.59 metres; 123.24 g/t AgEq (9.23 g/t Ag, 1.44% Zn, 0.26% Pb and 0.07% Sn) over 62.23 metres from 466.48 metres to 528.65 metres, including higher-grade portions of 202.40 g/t AgEq (13.75 g/t Ag, 2.46% Zn, 0.33% Pb and 0.12% Sn) over 20.63 metres from 480.00 to 500.63 metres and 166.76 g/t AgEq (9.76 g/t Ag, 1.83% Zn, 0.50% Pb and 0.11% Sn) over 13.05 metres from 515.60 to 528.65 metres; 126.21 g/t AgEq (6.05 g/t Ag, 1.58% Zn and 0.52% Pb) over 81.12 metres from 614.21 metres to 695.33 metres; 120.39 g/t AgEq (8.32 g/t Ag, 1.78% Zn and 0.06% Pb) over 11.99 metres from 900.33 metres to 912.32 metres.

Overall, 51% of the overall length of this 987.99-metre long hole yielded reportable intersections, which collectively average 139.44 g/t AgEq. The high-grade silver zone intersected in hole DSB-31 appears to be in the same structural-mineralized corridor as the silver-rich zone in the Santa Barbara adit.

Tom Larsen, CEO, said: “Hole DSB-31 and Hole DSB-33 continue to confirm high grade values of metals, especially silver to the south-southeast and tin to the southwest of the ever-expanding Santa Barbara feeder system. The geophysical surveys have been remarkable as a tool in determining where these highly conductive areas of potential commercial mineralization are located.

“The added strike length along the collapsed caldera valley floor will further extend the likely open pit dimensions resulting in potentially stronger economics. These recently released holes at Iska Iska further demonstrate both high grade metal zonation and substantial tonnage potential.”

Dr. Bill Pearson, P.Geo., Executive Vice President, Exploration, commented: “We are continuing our 100-metre spaced sectional definition diamond drill program focusing on testing the south-southeastern extension of the high-grade feeder zone across the valley of the Iska Iska Caldera. Our aim is to complete this program by November so that assay results can be received by early Q1 2023 to facilitate completion of the inaugural NI 43-101 mineral resource by the end of Q1 2023. The remarkable feeder zone at Iska Iska continues to be open along strike and down-dip especially to the south-southeast and it likely extends across a width of least 500 metres for potentially as much as 2km along strike.”

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 Chichas Province, Department of Potosi in southern Bolivia.

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