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Ground Magnetic Survey Confirms and Expands Target Areas at Eloro Resources’ Iska Iska Silver-Tin Polymetallic Project, Bolivia
TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE: P2QM) (“Eloro”, or the “Company”) is pleased to report results fr
About this update from Eloro Resources Ltd.
[{"type":"text","content":" TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE: P2QM) (“Eloro”, or the “Company”) is pleased to report results from its recently completely magnetics survey on the Company’s Iska Iska silver-tin polymetallic project in Potosi Department, southern Bolivia. A total of 181.5 linekm of magnetic data were collected on 50m spaced north-south lines on all of the accessible parts of the property. Figure 1 shows a map of the Analytic Signal (“ASIG”) of the Total Magnetic Intensity. The outline of the Iska Iska Caldera and major breccia pipe targets are overlain. This map combines the local rate of change of the magnetic field intensity in all directions to give a measurement of the variability of the local magnetic field. In the absence of rocks containing magnetic mineralogy the ambient field will only show a smooth, gentle, variation across a property the size of Iska Iska. More intense local variations on the ASIG map are evidence of magnetic mineralogy that modifies the magnetic field locally. Where the ASIG map shows low variability inside the caldera, it suggests that the underlying rocks have low magnetic susceptibility which likely reflects the destruction of magnetite by strong hydrothermal alteration. Highlights The magnetic data further confirm 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 low anomalies reflecting strong alteration. The Porco (South) Breccia Pipe target which is approximately 600m in diameter has a similar signature to the Santa Barbara and Central Breccia Pipes, further confirming the likelihood of it being a major breccia pipe. It appears likely that the Central and Porco Breccia Pipes merge at depth. There is a prominent area of low intensity northwest of the Santa Barbara Breccia Pipe which requires follow-up work. Dr. Bill Pearson, P.Geo., Eloro’s Executive Vice President Exploration, stated: “The results of this magnetic survey have further refined and expanded our target areas in the Iska Iska caldera as well as outlined an additional target for follow-up northwest of the caldera. The next step will be to calculate 3D magnetic inverse models which will assist ...