Eloro drills 188.64 g/t AgEq over 349.08 metres at Iska Iska, Bolivia

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Eloro drills 188.64 g/t AgEq over 349.08 metres at Iska Iska, Bolivia

Eloro Resources Ltd. [ELO-TSXV; ELRRF-OTCQX; P2Q-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.

Hole DSBU-10 is an underground hole drilled at azimuth 40˚ at minus-60˚ dip across the higher-grade feeder zone. Hole DHK-24 is a surface drill hole collared near Huayra Kasa approximately 100 metres southeast of hole DSBU-10 and drilled to the southwest at minus 60˚. Four drills, including three surface drills and one underground drill, are focused on completing drilling in the Santa Barbara resource definition drilling area. A fourth surface drill has been added to further expand drilling capacity.

Over all, the company has completed 64,573 m in 102 drill holes to date at Iska Iska, including four holes in progress.

For the Santa Barbara mineral resource definition target area, surface drilling returned the following significant results: 188.64 g/t AgEq (silver equivalent) (44.75 g/t silver, 0.08 g/t gold, 1.05% zinc, 0.76% lead and 0.14% tin) over 349.08 metres from zero to 349.08 metres in underground hole DSBU-10 in the core of feeder zone in the Santa Barbara target area. Notably, 59% of the overall length of this 878.9-metre long hole yielded reportable intersections which collectively average 160.14 g/t AgEq.

Hole DHK-24, collared at surface near Huayra Kasa approximately 100 metres southeast of hole DSBU-10 and drilled to the southwest at minus 60˚, intersected multiple intersections including 114.62 g/t AgEq (17.89 g/t silver, 0.04 g/t gold, 1.58% zinc, 0.62% lead and 0.05% tin) over 112.91 metres from 22.01 to 134.92 metres, including a higher-grade portion of 226.05 g/t AgEq (26.25 g/t silver, 2.74% zinc and 0.95% lead) over 52.86 metres from 64.12 metres to 116.98 metres; 84.31 g/t AgEq (2.61 g/t silver, 0.10 g/t gold, 1.22% zinc and 0.21% lead) over 162.48 metres from 143.88 metres to 306.36 metres; 120 g/t AgEq (5.51 g/t silver, 0.09 g/t gold, 1.71% zinc and 0.34% lead) over 65.73 metres from 395.30 metres to 461.03 metres, including a higher-grade portion of 299.92 g/t AgEq (17.19 g/t silver, 0.31 g/t gold, 4.34% zinc and 0.59% lead) over 17.06 metres from 414.84 metres to 431.90 metres. Refer to original press relerase for more assays.;

Tom Larsen, CEO, said: “These are the best drilling results to date at Iska Iska, even with the discounted metal prices being quoted in comparison to higher values used for previous silver equivalent drill hole results. The significance of DSBU-10 and DHK-24 both drilled at minus 60 degrees further strengthens our geological belief that there is major tonnage potential in this feeder system that further expands the already-extensive initial Santa Barbara mineral resource definition target area currently being drilled.”

Dr. Bill Pearson, PGeo, executive vice-president, exploration, commented: “We continue to get impressive results from the higher-grade feeder zone at Santa Barbara. Based on geological and geophysical evidence, it appears that this feeder zone may extend much further to the southeast across the centre of the Iska Iska caldera. We are currently completing addition drill holes to test this possibility and have added an additional drill to further accelerate the program.”

The Iska Iska silver-tin polymetallic project is a road-accessible, royalty-free property, wholly controlled by the title holder, Empresa Minera Villegas SRL, and is located 48 km north of Tupiza city, in the Sud Chichas province of the department of Potosi in southern Bolivia.