Eloro Resources Ltd. provided an update on its ongoing preliminary metallurgical testwork program for the Iska Iska silver-tin polymetallic project (the ‘Project') in the Potosi Department, southern Bolivia. The ongoing work, including flowsheet development testwork and mineralogical characterization, is being carried out by Blue Coast Research Ltd. (‘Blue Coast' or ‘BCR') based in Parksville, British Columbia, and Mineral Concentration Laboratory of the National Faculty of Engineering from the Technical University of Oruro (‘UTO'), Bolivia. The objective of the coordinated work programs is to develop a geo-metallurgical understanding of the mineralized domains and to obtain preliminary metallurgical recovery estimates for the main valuable constituents of the mineralized material currently identified at the Project.

Geometallurgical Domains Iska Iska: The Iska Iska silver-tin polymetallic deposit has many characteristics of the typical Bolivian tin deposits. Extensive tin mineralization likely developed deep in the earth's crust with cassiterite forming at high temperatures from 350C to 500C. This major initial stage of magmatism drove the formation of the major stratovolcano at Iska Iska some 18 to 15 million years ago.

Subsequently, when the magma chamber was depleted, the volcano collapsed, forming a classic collapsed caldera. Resurgence of the collapsed volcano included the intrusion of the Iska Iska porphyry, followed by dacitic domes and brecciation such as the Santa Barbara breccia pipe. These events were closely associated with widespread porphyry-epithermal Ag-Zn-Pb mineralization, which partially overprinted the pre-existing tin mineralization.

The Sn:Cu ratio is an indicator of the presence of oxide tin (cassiterite - shown in green, within the core) vs sulphide tin (stannite - shown in red, making up the periphery). Tin is found predominantly on the west side of the Santa Barbara deposit. Deep drilling and magnetic modelling indicate that the tin porphyry is present beneath the Iska Iska Porphyry.

As previously reported, the signature of the overall tin porphyry system based on magnetic data likely extends for some 5 km by 3 km which includes the Casiterita area to the southwest, which is currently being drill-tested.