Eloro Resources Ltd. · TSX:ELO
Eloro Resources — Investor Presentation (June 2024)
41 slides from Eloro Resources's investor presentation, June 2024
Slide 1: Iska Iska: Major Silver-Tin Polymetallic Resource
ISKA ISKA Major Silver-Tin Polymetallic Resource CORPORATE PRESENTATION TSX ELO | FSE P2Q | OTCQX ELRRF JUNE 2024
Slide 2: Cautionary Language
Cautionary Language This presentation contains “forward-looking statements” and “forward-looking information” and other risks of the mineral exploration industry as well as those risks discussed in the within the meaning of applicable Canadian securities laws concerning Eloro Resources Ltd. Company’
Slide 3: About Eloro
About Eloro TSX ELO | FSE P2Q | OTCQX ELRRF Eloro is focused on developing its world-class Iska Iska Found/developed this deposit in just silver-tin polymetallic discovery in the Potosí 3 years with only CDN$56 million in Department of southern Bolivia financings with Cantor Fitzgerald Canada Corpor
Slide 4: Capital Structure and Ownership
Capital Structure and Ownership 22% TSX Management and Board ELO 50% 3% Implied Cartier Silver Retail Corporation TSX: ELO | Frankfurt: P2Q (WKNA1JKAT) | OTCQX: ELRRF Shares Issued and Outstanding (June 3, 2024) 79.85M Warrants ($2.00 to $4.25 on exercise) 6.00M 25% Institutional Options and Restric
Slide 5: Experienced Team
Experienced Team Management Team Board of Directors TechnicalAdvisors THOMAS LARSEN B.A. THOMAS LARSEN B.A. QUINTON HENNIGH Ph.D., Chairman and CEO Chairman and CEO P.Geo.Geology / Geochemistry Geologic and Technical Advisor to MILES NAGAMATSU C.P.A., C.A. ALEXANDER HORVATH P.Eng Crescat Capital, a
Slide 6: Silver: A Key Decarbonization Metal
Silver: A Key Decarbonization Metal SOLAR PV CAPACITY THROUGH 2030 (GW) Silver is the Element of Change Highest electrical and thermal conductivity of all the metals 30% of silver supply is used in electrical applications • 10% of current silver supply is used in photovoltaics • Worldwide PV Capacit
Slide 7: Tin: Technology Driven
Tin: Technology Driven TIN INVENTORIES AT VERY LOW LEVELS Demand • 377,000 tonnes in 2021, 300,000 tonnes mined concentrate • Electronics accounts for 50% of demand (CAGR +5%) • Significant demand use for photovoltaics and electric vehicles – 1 GW of solar requires 8 tonnes of tin (40% increase YTD)
Slide 8: About Bolivia
About Bolivia Modern mining laws and a supportive political environment • Rich history of mining and prospectivity is excellent. Limited exploration in the early 2000s has now provided the opportunity to find Tier 1 assets • Straightforward mining laws and a simple tax structure with no capital cont
Slide 9: Southwest Bolivia and Northern Chile Infrastructure Map
Southwest Bolivia and Northern Chile Infrastructure Map Easy access to Northern Chilean seaports Iska Iska project close to established domestic paved road and rail transportation routes Two projected rail spur lines and road access for connection to main rail transportation routes to the Northern C
Slide 10: Definitive Option Agreement
Definitive Option Agreement Definitive Option Agreement signed January 6, 2020 • Vendor owns 100% of property • Fully permitted for exploration drill program and road accessible • No fixed expenditure requirement • No royalties on property Eloro will issue the Title Holder US $4.6M by July 25th, 202
Slide 11: Strong Environmental and Social Governance Program
Strong Environmental and Social Governance Program A historical mining region that Eloro Resources Implementation and support for courses, is committed to supporting: workshops, classes, materials and other requirements of social projects focused • Supplies to the communities during COVID-19 on wome
Slide 12: Mineral Deposits: Bolivia, a Prolific Mining Country
Mineral Deposits: Bolivia, a Prolific Mining Country Iska Iska is in the SW part of the Eastern Cordillera which hosts a number of world-class deposits of gold, silver, iron ore, zinc, tin, lead and lithium Cerro Rico de Potosí is the world’s largest silver deposit and has been mined continuously si
Slide 13: Bolivian Tin Belt Evolution
Bolivian Tin Belt Evolution Break-up of the Farallon plate was the most important event during the Early Miocene, about 23 million years ago, when it split into the Cocos plate and the Nazca plate that been subducted beneath Central and South America Subducting older Nazca plate below the Central An
Slide 14: View of Iska Iska Caldera Complex
View of Iska Iska Caldera Complex View of the Iska Iska Caldera Main Target Areas Looking North Terrain is like doing a program in Arizona or Nevada except at a much higher elevation The Iska Iska core Porvenir Concession covers 900 ha and is road accessible Located 48km north of Tupiza city, in the
Slide 15: Analytical Signal Plan Map - Iska Iska and Mina Casiterita
Analytical Signal Plan Map - Iska Iska and Mina Casiterita Magnetic surveys by Eloro have outlined an extensive magnetic intrusive body on the Mina Casiterita property immediately southwest of Iska Iska Previously artisanal mining of high-grade tin veins – reported concentrate production in early Po
Slide 16: Property Geology and Mineralization
Property Geology and Mineralization Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex associated with a Miocene collapsed/resurgent caldera, emplaced on Ordovician age rocks with major breccia pipes, dacitic domes and hydrothermal breccias Recent drilling indicates that there
Slide 17: Santa Barbara Drilling Geological Plan Map
Santa Barbara Drilling Geological Plan Map The Santa Barbara Underground and surface radial drill holes have been removed from the figure to provide a clearer image of the current drill program. DHK-26 ~757.2m Typical Mineralized Breccia Grading 287g Ag/t, 1.12% Pb 11.5% Zn and 0.18% Sn 10 cm 17
Slide 18: Top 12 Iska Iska Intercepts
Top 12 Iska Iska Intercepts Intercept Grade Grade x Ag Sn Zn Pb Date Drill Hole ID (m) (g AgEq/t) Intercept (g/t) (%) (%) (%) 31-Jan-23 DHK-27 325.48 137.51 44,757 69.80 0.12 1.21 0.49 20-Sep-22 DSB-30 441.21 95.59 42,174 9.45 0.07 1.53 0.88 21-Jul-22 DSBU-10 349.03 120.04 41,897 44.75 0.14 1.05 0.7
Slide 19: Top 12 Iska Iska Intercepts
Top 12 Iska Iska Intercepts Grade x Value of Major Metal Components Date Drill Hole ID Intercept Ag (g/t) Sn (%) Zn (%) Pb (%) 31-Jan-23 DHK-27 44,757 20-Sep-22 DSB-30 42,174 21-Jul-22 DSBU-10 41,897 28-Jul-21 DHK-18 34,994 28-Sep-21 DHK-21 26,387 23-Feb-22 METSBUG-02 26,348 26-Jan-21 DHK-15 26,172
Slide 20: Initial Mineral Resource Statement Iska Iska
Initial Mineral Resource Statement Iska Iska 3D PERSPECTIVE OF THE ISKA ISKA PIT CONSTRAINED Item Average Grade RESOURCE Showing Distribution of Resource in Major Domains Mining Zn-Pb NSR Tonnage Zn Pb Ag Category Domain Method Cut-off (US$) (Mt) (%) (%) (g/t) OP 9.20 541 0.69 0.28 13.6 Inferred Pol
Slide 21: Iska Iska Initial Mineral Resource Summary
Iska Iska Initial Mineral Resource Summary Total insitu metal estimated to be 298 million CROSS SECTION OF ISKA ISKA PIT CONSTRAINED RESOURCE ounces Ag, 4.09 million tonnes Zn, 1.74 million tonnes Pb and 130,000 tonnes Sn Potentially open pittable inferred mineral resource in Polymetallic Domain (Zn
Slide 22: Higher-Grade Shallower Resource in Polymetallic Domain
Higher-Grade Shallower Resource in Polymetallic Domain LONGITUDINAL SECTION (A – A’) OF ISKA ISKA PIT This portion of the potentially open pittable resource RESOURCE MODEL with NSR CUTOFF>US$25/T blocks in red provides potential for early payback for the Iska Iska project Stripping ratio will likely
Slide 23: Major Upsides for Iska Iska Mineral Resource
Major Upsides for Iska Iska Mineral Resource As pointed out in the Technical report, the best grade areas are also those with the most drilling Much of current Polymetallic Domain resource is defined by 100m spaced drilling which likely underestimates overall grade All 139 drill holes in the resourc
Slide 24: High-Grade Silver & Tin in Definition Drilling at Iska Iska
High-Grade Silver & Tin in Definition Drilling at ISKA ISKA December 18, 2023 & January 11, 2024 Releases 279.22g Ag/t, 0.47% Pb and 0.43% Sn (339.82 g Ag Designed to fill-in major gaps in the block model eq/t) over 62.84m (DSB-61) as well as upgrade and expand higher-grade zone in general area of p
Slide 25: Distribution of Silver at Iska Iska
Distribution of Silver at Iska Iska Longitudinal section shows distribution of UPDATED GEOLOGICAL INTERPRETATION OF AG DISTRIBUTION silver. Definition drilling has expanded high grade zones As drilling density is increased, grades especially for silver, increase due to improved sample density Silver
Slide 26: Distribution of Tin at Iska Iska
Distribution of Tin at Iska Iska Tin is concentrated on the northwestern UPDATED GEOLOGICAL INTERPRETATION OF SN DISTRIBUTION side of Iska Iska As with silver, when drilling density is increased, grades of tin increase due to improved sample density Tin mineralization is controlled by multiple diffe
Slide 27: Major Mineralized Corridor with Additional 600 m Strike Length
Major Mineralized Corridor with Additional 600 m Strike Length New chargeability high southeast of the CHARGEABILITY ANOMALY CROSS SECTION ALONG LINE 56100N MRE open pit indicates that the major mineralized structural corridor that is up to 800 m wide extends a further 600 m along strike to the sout
Slide 28: Chargeability Model at 3,700 m
Chargeability Model at 3,700 m MODEL CHARGEABILITY AT 3,700 m ELEVATION STRONG CORRELATION OF HIGH-GRADE AREAS PLAN VIEW WITH CHARGEABILITY ANOMALY 28
Slide 29: Major Exploration Upside Still to be Tested
Major Exploration Upside Still to be Tested Recent drilling at Casiterita 2km SW of Santa Barbara returned 0.17% Sn over 52.78m confirming overall extent of Iska Iska mineralizing system is much more extensive as predicted from geophysical data Iska Iska deposit is open in all directions Limits of m
Slide 30: "Ore-Sorting" Game Changer
“ORE-SORTING” GAME CHANGER Successful Bulk Metallurgical Test Recently Completed
Slide 31: Schematic Flowsheet With XRT Ore Sorting
Schematic Flowsheet With XRT1 “Ore” Sorting 1 XRT = X-RAY TRANSMISSION 2 Separation chambers can be switched depending on nature of feed to optimize compressed air usage. 31
Slide 32: Ore-Sorting – Major Advantages for Potential Productions
“Ore-Sorting” – Major Advantages for Potential Productions Bulk Open Pit Mining lowers operating costs High Grade Low Grade Medium Grade compared with selective mining, but creates dilution Dilution is removed by Ore Sorting and DMS, this reduced downstream capital costs Crushing and ore sorting is
Slide 33: Positive Bulk Metallurgical Tests
Positive Bulk Metallurgical Tests Bulk Metallurgical tests from a 6.3 tonne PQ drill The metallurgical tests confirm the core bulk sample representative of the higher grade viability of “Ore” Sorting and Dense Polymetallic (Ag-Zn-Pb) Domain returned a significantly higher average silver value of 91
Slide 34: Pre-concentration Metallurgical Test Program – Diagram
Pre-concentration Metallurgical Test Program – Diagram 6,300 kg crushed to -60 mm and the screened into 2,137 kg of -60 mm + 25 mm for “Ore” Sorter Cascade Test 2,689 kg of -25 mm + 9.5 mm for “Ore” Sorter Cascade Test Sub sample of 278 kg of -9.5 mm + 5.0 mm for Heavy Liquid Testwork Sub Sample of
Slide 35: Trade off Study – Metal Recovery/Revenue Vs Capex/Opex
Trade off Study – Metal Recovery/Revenue Vs Capex/Opex The outputs of the pre-concentrate testwork at different weight yields and metal recoveries will now be economically optimised to provide the optimum solution. “Ore” Sorting and DMS Combination Versus All “Ore” Sorting or all Dense Media Separat
Slide 36: Iska Iska Joins Giant Deposits of Bolivian Tin Belt
Iska Iska Joins Giant Deposits of Bolivian Tin Belt Dr. Osvaldo Arce, P.Geo., General Manager of Minera Tupiza and the author of Yacimientos Metaliferos de Bolivia, the authoritative book on metalliferous deposits of Bolivia commented: “Iska Iska, which is a very large “Bolivian-type” polymetallic p
Slide 37: Conclusions
Conclusions Iska Iska has the potential to host two world class deposits in the same property which Eloro believes is an extraordinary opportunity Bolivia is a mining friendly In just 3 years and 56 million Very strong Bolivian country that is significantly in equity financings, Eloro has operationa
Slide 38: Next Steps – Definition Drilling, More Met Work and PEA
Next Steps – Definition Drilling, More Met Work and PEA Robust Initial Inferred Mineral Inaugural mineral resource confirms New chargeability high Resource Estimate of 560Mt at Iska Iska as a giant deposit in the southeast of MRE pit extends 13.8 g Ag/t, 0.73% Zn & 0.28% prolific Bolivian Tin Belt m
Slide 39: Appendix: Summary Notes MRE
APPENDIX Summary Notes MRE 39
Slide 40: Summary, Iska Iska Initial Mineral Resources at August 19, 2023
Summary, Iska Iska Initial Mineral Resources at August 19, 2023 Notes: 1. The mineral resources have been estimated in accordance with the CIM Best domain = US$5.29/t comprising US$0.40/t for pre-concentration followed by Practice Guidelines (2019) and the CIM Definition Standards (2014). US$13.80 f
Slide 41: Contact
TSX ELO | FSE P2Q | OTCQX ELRRF CANADA BOLIVIA Thomas Larsen Dr. Osvaldo Arce Ph.D., P.Geo. CEO General Manager, Jimena Moran Minera Tupiza S.R.L. V.P. Marketing and Logistics – Tel: +59 171 591-004 Executive Assistant Bilingual Toll Free: 1 800 360-8006 Tel: 1 416 868-9168 20 Adelaide Street East,