Eloro Resources Ltd (TSXV: ELO; OTCQX: ELRRF) has received high-grade assay results from six additional diamond drill holes from its on-going drilling programme at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.
Hole METSBUG-02 is an underground hole drilled northeast from the Santa Barbara adit for metallurgical purposes and to complete fill-in drilling. The remaining fiveholes tested the NW extension in the Santa Barbara Mineral Resource Target Area (DSB-12, -13, -15, -20 and -21).
As previously announced, drilling recommenced on January 17, 2022, with two surface drill rigs and one underground rig. Since the restart, the company has completed an additional 4,649m of drilling, for an overall total of 45,117m in 80 drill holes, including three holes in progress, Table 1 lists significant assay results. Highlights are as follows:
Underground Metallurgical Hole, Santa Barbara Mineral Resource Target Area
Underground hole METSBUG-02, collared in the Santa Barbara adit and drilled at an azimuth of 40 degrees at -10 degrees dip, intersected significant mineralization (Figure 1 and Table 1) over the full length of the hole:
- 172.43 g Ag eq/t (40.16 g Ag/t, 0.51% Zn, 0.41% Pb and 0.13% Sn) over 303.05m from 0.00 to 303.05 m including higher-grade sections of 507.64 g Ag eq/t (119.36 g Ag/t, 0.14 g Au/t, 0.57 %Pb and 0.52 %Sn) over 49.55m from 0.0 to 49.55m and 196.67 g Ag eq/t (66.93 g Ag/t, 1.03% Zn, 0.67% Pb and 0.08% Sn) over 77.77m from 180.95m to 258.72m.
- This hole was designed to intersect midway across the intersection in Hole DHK-18 which returned 129.65 g Ag eq/t over 300.75m (see press release July 28, 2021; grade is 172.18 g Ag eq/t with updated metal prices) in the mineralized envelope to the east of the Santa Barbara Breccia Pipe.
Sectional Drill Holes NW Extension Santa Barbara Mineral Resource Target Area
Significant results have been returned from the five (5) initial sectional drill holes testing the NW Extension of the Santa Barbara mineralized trend. This area is marked by a prominent magnetic anomaly and is underlain by several dacitic domes, possibly related to a secondary caldera. An additional 11 holes totalling 7,859m have been completed to provide coverage on 100m spaced sections over much of the NW Extension target area. Assay results on these holes are pending.
Drilling Highlights
Hole DSB-20, which is in approximately the centre of the NW Extension target area, intersected 22 reportable intersections with a best result of 129.42 g Ag eq/t (21.79 g Ag/t, 0.27% Zn, 0.36% Pb and 0.12% Sn) over 73.65m from 247.56m to 321.21m including a higher-grade section of 204.03 g Ag eq/t (27.54 g Ag/t, 0.40% Zn, 0.55% Pb and 0.21% Sn) over 28.57m from 267.08m to 295.65m.
- Hole DSB-21, on the northwesternmost section, intersected 14 reportable intersections including a high-grade Cu zone grading 152.04 g Ag eq/t (9.48 g Ag/t and 1.02% Cu) over 25.27m from 58.85m to 84.12m and 114.77 g Ag eq/t (40.85 g Ag/t, 0.09 g Au/t, 0.69% Zn and 0.18% Pb) over 16.28m from 163.98m to 180.28m.
- Hole DSB-15, 100m southeast of Hole DSB-21, intersected 12 reportable intersections including 112.43 g Ag eq/t (9.98 g Ag/t, 0.10 g Au/t, 0.21% Zn, 0.34% Pb, 0.09% Sn and 0.12% Cd) over 10.53m from 293.70m to 304.23m and 186.75 g Ag eq/t (14.67 g Ag/t, 0.13 g Au/t, 0.27% Zn, 0.17% Cu and 0.19% Sn) over 19.65m from 710.97m to 730.62m.
- Hole DSB-12, collared 200m southeast of hole DSB-15 and 100m northwest of hole DSB-20, intersected 20 reportable mineralized intersections of which nine ranged from 10.41m to 24.07m long. Best results were 130.28 g Ag eq/t (92.32 g Ag/t, 0.06% Cu) over 10.41m from 332.64 to 311.90, 129.54 g Ag eq/t (10.19 g Ag/t, 0.22 % Zn, 0.15% Cu, 0.13% Sn) over 18.04m from 487.76m to 505.80m, 116.73 g Ag eq/t (10.18 g Ag/t, 0.12% Cu, 0.10 % Sn and 0.13% Bi) over 24.07m from 594.44m to 618.51m and 164.01 g Ag eq/t (7.80 g Ag/t, 0.11 g Au/t, 0.39% Zn, 0.21% Cu, 0.11% Bi) over 21.05m from 753.50m to 771.49m.
- Hole DSB-13, drilled on the same section but shallower than hole DSB-12, intersected 15 reportable mineralised intersections of which the best results were 48.53 g Ag eq/t (5.66 g Ag/t and 0.29% Zn) over 37.58m from 161.71m to 199.29m, 171.55 g Ag eq/t over 9.01m (21.45 g Ag/t, 0.54 g Au/t, 0.38% Zn, 0.14% Sn) from 221.66m to 230.67m, 51.89 g Ag eq/t (3.48 g Ag/t and 0.24% Zn) over 39.13m from 320.57m to 361.18m and 71.71 g Ag eq/t over 8.93m (7.07 g Ag/t, 0.11% Cu and 0.06% Sn) from 601.95m to 610.88m.
“This new underground hole is the longest and highest-grade intersection obtained thus far in our diamond drill programme,” CEO, Tom Larsen, said.
“Results from the step-out holes on the NW extension are also very encouraging. Turnaround at both the ALS and AHK laboratories continues to improve so we anticipate being able to have a more regular release of results going forward.
“Drilling productivity continues to be very high with more than 4,600m completed by the three drills since our restart last month. We will shortly complete our underground drilling and will exchange this drill for a high capacity surface rig which will further increase our production.”
Dr. Bill Pearson, Eloro’s Executive Vice President Exploration, said the 100m-spaced sectional drilling has been completed on the NW Extension, however it is evident that much further drilling will be required to fully evaluate this exciting target area.
“Underground drilling is continuing from the Santa Barbara adit to test the major magnetic anomaly to the southwest. The first of a series of surface holes testing the southern Santa Barbara target area is in progress, with the aim of further expanding the high-grade mineralization already identified in this area.
“Hole DPC-07 in the Porco area is testing a major magnetic anomaly, while additional drill holes are planned to further test the Porco Breccia Pipe deeper. Hole DM2-01, to be drilled in the Mina 2 area in the southeast part of the property, will test for a potential tin porphyry at depth. Channel sampling and geological mapping are in progress in the Mina 2 workings.”
For further information please visit: https://www.elororesources.com/
