Eloro Resources Ltd. (TSXV: ELO; OTCQX: ELRRF) has received further high-grade assay results from seven additional diamond drill holes from its on-going drilling programme at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.
Two of these holes (DSBU-01 and DSBU-02) are underground holes drilled from the Santa Barbara adit.
Three of the holes tested the Central Breccia Pipe (CBP) target (DCN-06 and DCN-07 from the Central North radial drilling platform and DCS-04 from the south platform). Another two tested the Porco Breccia Pipe (PBP) target.
Drilling recommenced on January 17, 2022, with two surface drill rigs and one underground rig. Since the restart, the company has completed an additional 1,989m of drilling, bringing the overall total to 42,457m in 76 drill holes, including three holes in progress at Iska Iska.
Highlights:
Underground Holes, Santa Barbara Mineral Resource Target Area
Underground holes DSBU-01, drilled due east at -10 degrees and DSBU-02, drilled due west at -20 degrees both intersected significant mineralisation
- 239.72 g Ag eq/t (39.58 g Ag/t, 1.04 %Pb, 0.26 %Cu and 0.20 %Sn) over 82.74m from 0.00 to 82.74m in Hole DSBU-01, including a higher-grade section of 318.15 g Ag eq/t (53.58 g Ag/t, 1.43 % Pb, 0.32 %Cu and 0.27 %Sn) over 51.09m in DSBU-01.
- 134.47 g Ag eq/t (10.79 g Ag/t, and 0.15 %Sn) over 115.44m from 1.50 to 116.94m in Hole DSBU-02, including a higher-grade section of 160.87 g Ag eq/t (9.65 g Ag/t, 0.21% Cu, and 0.17 %Sn) over 37.55m from 25.50 to 63.05m.
- Hole DSBU-02 also had additional intersections of 145.12 g Ag eq/t over 17.53m from 165.00 to 182.53m and 395.12 g Ag eq/t over 18.0m from 300.20 to 318.20.
The promising results from these holes across a well mineralised width of 200+m opens significant possibilities in the southern extension of the Santa Barbara target area where additional drilling is now planned.
Central Breccia Pipe
DCN-06 and DCN-07, which completed the first pass drilling on the northern radial drilling platform testing the CBP, returned 14 and 21 reportable mineralised intervals, respectively, with the best results as follows:
- 104.05 g Ag eq/t (24.76 g Ag/t and 0.13% Sn) over 39.03m from 150.30m to 189.33m and 226.19 g Ag eq/t (117.03 g Ag/t, 0.40 g Au/t and 0.11% Sn) over 4.47m from 539.40m to 543.78m in DCN-06 drilled due south at -80 degrees.
- 183.00 g Ag eq/t (133.05 g Ag/t and 0.49 g Au/t) over 8.99m from 132.93m to 141.92m, 539.96 g Ag eq/t (222.00 g Ag/t and 0.41% Sn) over 1.42m from 324.94m to 326.36m and 220.81 g Ag eq/t (9.54 g Ag/t, 0.13 g Au/t, 0.27% Cu and 0.25 % Sn) over 7.50m from 555.94m to 563.44m in DCN-07 drilled due west at -60 degrees.
Porco Breccia Pipe
Surface drill holes DPC-02 and DPC-03 from the radial drill platform at PBP were drilled south-southwest at -40 degrees and southeast at -60 degrees, respectively.
- Hole DPC-02 intersected a 3.02m wide zone from 754.83m to 757.85m that graded 409.55 g Ag eq/t (57.92 g Ag/t, 0.22 g Au/t, 0.48% Cu and 0.44 %Sn) which is approximately 340 m below and likely the same mineralized structure as in the Porco adit which returned comparable high-grade results as previously reported (see press release November 17, 2021).
- Hole DPC-03 returned 13 reportable intersections including 334.98 g Ag eq/t (46.13 g Ag/t, 4.75% Zn and 1.43% Pb) over 11.98m from 296.05 to 308.03m. This intersection may reflect higher level mineralization associated with the recently identified secondary caldera in the southeast part of the property (see press release January 18, 2022).
Previously reported drill hole DPC-01 had the best results where it clipped the edge of the inverse magnetic susceptibility model while the other five radial drill holes at Porco were too shallow to intersect the model. As a result, deeper drill holes, in both the Porco and Mina 2 areas are planned to test for the potential source porphyry at depth.
“I am pleased to report that the return rate of sample results from our assay laboratories has improved significantly after the Christmas holidays, and we are hopeful that most of our backlog will be cleared up within the next month to six weeks,” CEO, Tom Larsen, said.
“This will allow us to remain on schedule to deliver the initial National Instrument 43-101 compliant mineral resource estimate in Q2 2022.
“Of note, it has been approximately one year since the company reported the discovery of high grade mineralisation in hole DHK-15, which intersected 257.5m grading 129.6 g Ag eq/t in the Santa Barbara Breccia Pipe.
“The new results reported in this release from the underground drilling in the Santa Barbara target area of significant high-grade mineralization, which include more than a 200m width, opens up significant opportunities in the southern part of this major target area. This emphasises the immensity of the Santa Barbara Breccia Pipe complex, which is still only a subset of the overall Iska Iska silver-tin polymetallic system.”
For further information please visit: https://www.elororesources.com/
