Business
Eloro Resources Files Updated NI 43-101 Technical Report on Iska Iska Project
TORONTO, May 11, 2022 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that it h
About this update from Eloro Resources Ltd.
[{"type":"text","content":" TORONTO, May 11, 2022 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that it has filed on SEDAR an updated technical report (“Technical Report”) on the Company’s Iska Iska silver-tin polymetallic project, prepared by Micon International Limited (“Micon”) and in accordance with National Instrument 43-101. Eloro also announces that it has filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada except Québec. Updated NI 43-101 Technical Report The Technical Report supports the interpretation of the drilling and other exploration results thus far, and details Eloro’s next exploration phase leading to the estimation of mineral resources. Micon’s conclusions in the Technical Report include the following: The potential of the Iska Iska Project is unquestionable in terms of its regional geological setting. It is in the midst of a proven metallogenic district with well-established world-class mines such as Cerro Rico de Potosi, Chorolque, and San Vicente. The fact that nearby mines of the Bolivian polymetallic type are operating profitably, is positive for the current drill definition and metallurgical investigations at Iska Iska. Proximity of the deposit to surface offers an opportunity/potential for both open pit and underground exploitation, especially in the Santa Barbara – Huayra Kasa area. Geological mapping, geophysical surveys, and diamond drilling have revealed a potentially large deposit of significance but yet to be converted into a resource. So far, the mineralization/deposit is isotropic, lacking any preferred alignment; this is corroborated by variography and downhole IP surveys. All holes drilled across the project to date display intervals of alteration and significant mineralization, and the limits of the system have not yet been delineated. The deposit is wide open for expansion in all directions. The “epicentre” of mineralization appears to be in the Santa Barbara adit area, where the highest grades and widest widths have been encountered to date. Therefore, resource development and expansion should radiate outwards from here. In making recommendations in the Technical Report, Micon states: Eloro’s nearer term objective is a maiden mineral resource estimate within ...