Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) today announced assay results from reconnaissance drilling on the Mina Casiterita Property, additional definition drilling on the eastern margin and southern extension of the Santa Barbara deposit and reconnaissance drilling in the Porco-Mina 2 area. In total, 16 holes totaling 12,495.4m have been completed as detailed in the press release.
“We are encouraged by the initial drilling results from Mina Casiterita, especially considering the reconnaissance nature of the drill program. The grade and width intersected in hole DCT-03, considering the recently reported positive ‘ore-sorting’ results (see Eloro press release dated July 26, 2023), is attractive particularly with the higher-grade sections. Continued diamond drilling is being delayed pending the finalization of the granting of the mining rights process for the Mina Casiterita and Mina Hoyada properties (‘additional properties’), through the signing of administrative mining contracts between the regional Jurisdictional Administrative Mining Authority in Bolivia and the additional properties title holder, from whom the properties are being acquired,” said Tom Larsen, CEO of Eloro. “Upon completion of this internal process within the Bolivian mining regulator AJAM, Eloro’s Bolivian subsidiary, Minera Tupiza S.R.L. will consolidate its one hundred percent (100%) participation in the additional properties, pursuant to its option agreement with the vendor. In connection with this transaction, 200,000 common shares of Eloro will be issued to acquire the capital quotas of the additional properties title holder (see Eloro press release dated Nov. 22, 2022).”
To view the full press release, visit https://ibn.fm/nW9iC
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 100% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department in southern Bolivia. A recent NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited, is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF
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