Magnetic Inversion Model Extends Strike Length Over 2.4km In Bolivia
Eloro Resources Ltd (TSXV: ELO) continues to have success with its ongoing exploration activities at its Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.
To date, the company has completed 32,606m of drilling in 63 holes, including three in progress, to test major targets at Iska Iska. Currently three drills are operating on the property: two surface drills and one underground drill.
Mineral Resource Definition Drilling
Eloro is continuing mineral resource definition drilling on the Santa Barbara Target Area which includes the Santa Barbara Breccia Pipe (“BBP), the surrounding mineralized envelope and the potential northwest extension indicated by the magnetic anomaly.
Drilling has further expanded the target area for definition of a maiden compliant mineral resource to more than 1,400m along strike, with significant mineralisation being intersected in step out holes DSB-15 and DSB-16 which are collared 200m further northwest than the first step out holes DSB-12 and DSB-13. This target zone is approximately 500m wide and extends to a depth of 600m. Further fill-in drilling on SW-NE sections is being undertaken at approximately 100m intervals.
Three underground drill holes have been completed from the drill bay at the west end of the Santa Barbara adit. DSBU-01, drilled due east at -20 degrees, intersected extensive mineralisation in the mineralised envelope of the SBBP. Holes DSBU-02 and DSBU-03 drilled due west at -20 degrees and -50 degrees, respectively, intersected significant mineralisation along the southern margin of the SBBP.
A fourth underground hole, DSBU-04, is currently in progress, drilled due south at -20 degrees to fill in coverage in the mineralised envelope to the south of the SBBP. Assays on the underground and surface holes cited are all pending.
Magnetic Inversion Model,
On June 7, 2021, Eloro released results of its ground magnetic survey at Iska which confirmed the extent of the Iska Iska Caldera, as determined from geological mapping and satellite interpretation, including Aster data.
The Santa Barbara and Central Breccia Pipes, both of which have been confirmed by drill-testing, are marked by prominent areas of low magnetic variability reflecting strong hydrothermal alteration.
The Porco Breccia Pipe target, which is approximately 600m in diameter, has a similar signature to the Santa Barbara and Central Breccia Pipes. Drilling subsequently confirmed geologically that Porco is also a major breccia pipe, but assays are pending.
Furthermore, it appears that the Central and Porco Breccia Pipes merge at depth. This survey also identified a prominent area of low magnetic variability northwest of the Santa Barbara Breccia Pipe where drilling has now confirmed a major extension of the mineralized envelope northwest of the SBBP.
Measurements of the magnetic susceptibility of representative core samples were used as initial constraints for the model parameters. Geometric constraints were also applied to the model using geological observations. These included magnetic depletion in an oxidised zone near the surface and a depth interval consistent with drill results.
Higher grade samples at Iska Iska generally have higher sulphide content and are distinctly magnetic. Magnetic susceptibility thus provides a good tool for outlining potential zones of mineralisation.
The model demonstrates that the altered and mineralised zone at Iska Iska has the form of a giant “tongue” extending for a strike length of at least 2.4km, with a thickness near surface of approximately 400m, expanding to a depth over 1.2km in the southeast.
The upper, oxidised part of the mineralised system has a very low magnetic susceptibility as does the underlying basement Ordovician quartz sandstone. SBBP is the shallowest mineralised structure followed by Central Breccia. The core of Porco appears to be deeper. Father south the model indicates strong magnetic susceptibility that may reflect a porphyry at depth.
Dr. Bill Pearson, Eloro’s Executive Vice President Exploration, said the magnetic model further confirms the immense extent of the mineralised system at Iska Iska which will require much more drilling to fully evaluate.
“Currently we are completing down hole Induced Polarization/Resistivity surveys in the SBBP area to outline the geometry of the mineralised zones. Volumes with higher sulphide content will appear as anomalous chargeability and lower resistivity.
“We anticipate being able to model these higher sulphide zones to help develop a robust geological model for mineral resource estimation.
“We are currently focussing on filling gaps in our drill coverage for defining a maiden NI 43-101 compliant mineral resource in the Santa Barbara target area. This drilling is expected to be completed by the end of November.”
For further information please visit: https://www.elororesources.com/
