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Eloro Resources Stakes Additional Properties in the Iska Iska Polymetallic Property Area, Potosi Department, Southern Bolivia
TORONTO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that Mi
About this update from Eloro Resources Ltd.
[{"type":"text","content":" TORONTO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that Minera Tupiza S.R.L., Eloro’s Bolivian subsidiary has staked nine (9) additional properties (known as “Mining Areas” under Bolivian law) covering a total of 311.75 square kilometres in the Potosí Department, southern Bolivia where Iska Iska is located as shown in Figure 1. The geological characteristics and target mineralization of these properties are summarized in Table 1. Figure 2 shows the regional geology in the area of the new properties. The properties are located on prominent ASTER (Advanced Spaceborne Thermal Emission and Reflection Radiometer) anomalies with a similar hydrothermal alteration signature to that of Iska Iska. The Tup-5 property ties directly onto the Iska Iska property. Tom Larsen, President and CEO of Eloro, commented: “As outlined in the NI 43-101 Technical Report by Micon International (see press release April 29, 2020), Iska Iska has excellent potential to host a significant silver polymetallic mineral deposit. We are currently carrying out an underground drill program (see press release September 14, 2020) with results pending. Acquisition of these additional properties which appear to have similar hydrothermal alteration signatures to Iska Iska further expands our very prospective land position in the area.” Table 1: Summary of Geology and Exploration Targets, New Properties Iska Iska Area, Bolivia (see Figure 1 for locations). No. NAME SQ. KM GEOLOGICAL DESCRIPTION TARGET 1 Puna 22 SE part of the Early Miocene resurgent Kari Kari caldera. It is filled with welded ignimbrites and ash flows from 8-5 Ma. Comprises a Complex fault system of N-S, NNE-SSW and E-W directions that are filled with Sn, W and base metal mineralization. Main alteration products are silicification and highly altered Fe minerals. Sn, W, Base Metals 2 Khuchu Ingenio 17 Subvolcanic dacites and andesites hosting Ag, Pb and Zn mineralization. Basement is the Silurian Llallagua Formation sandstone. The neighboring area is composed of wide and long veins hosting enriched mineralized pockets. Main hydrothermal alterations are sericitization and argillization. Polymetallic Ag, Pb, Zn 3 Tomave 125 The claim area is composed of mainly siliciclastic sediments of Silurian age that com...