Highlights:
- 160.22 g Ag eq/t (36.53 g Ag/t, 1.63% Zn, 1.20% Pb and 0.10% Sn) over 194.14m from 168.85m to 362.99m in hole DHK-21, drilled from the west end of the Huayra Kasa underground workings at -70 degrees on section with discovery hole DHK-15, which intersected 129.60 g Ag eq/t over 257.5m (see press release dated
January 26, 2021 , and Figure 2). This intersection in Hole DHK-21 includes higher grade portions of:- 250.50 g Ag eq/t (51.31 g Ag/t, 3.35% Zn, 1.78% Pb and 0.10% Sn) over 18.24m from 238.21 to 256.45m;
- 257.40 g Ag eq/t (75.83 g Ag/t, 2.29% Zn, 2.40% Pb and 0.12% Sn) over 16.33m from 283.57 to 299.90m; and
- 350.91 g Ag eq/t (112.57 g Ag/t, 1.41% Zn, 3.08% Pb and 0.33% Sn) over 30.06m from 308.90 to 338.96m.
- 64% of this 512.9m long hole contains reportable intersections
- 94.68 g Ag eq/t (3.87 g Ag/t, 0.067 g Au/t, 1.63% Zn, 0.43% Pb and 0.05% Sn) over 169.93m from 124.66m to 294.59m in hole DHK-22, drilled to the south-southwest at -60 degrees from the west end of the Huayra Kasa underground workings to test the eastern side of the SBBP. This intersection included a higher-grade zone that graded 158.64 g Ag eq/t (9.35g Ag/t, 0.016 g Au/t, 3.43% Zn, 0.71% Pb and 0.03% Sn) over 29.84m from 135.20m to 165.04m. 49% of this 600m long hole contained reportable intersections.
Mineral Resource Definition Drilling at Santa Barbara Breccia Pipe
As reported in the
Three underground drill holes have been completed from the drill bay at the west end of the Santa Barbara adit. This drill can complete holes up to 600m long. DSBU-01 was drilled due east at -20 degrees to test the mineralized envelope of the SBBP. Holes DSBU-02 and DSBU-03 (in progress) are drilled due west at -20 degrees and -50 degrees, respectively, to test the southern margin of the SBBP. Assays on these holes are pending.
Structural work by Dr.
Dr.
Dr.
A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/20693b29-0695-42fa-b686-66155950981f
Note: True width of the mineralization is not known at the present time, but based on the current understanding of the relationship between drill orientation/inclination and the mineralization within the breccia pipes and the host rocks such as sandstones and dacites. It is estimated that true width ranges between 70% and 90% of the down hole interval length but this will be confirmed by further drilling. Percentage metal contents are shown for each element.
Chemical symbols: Ag= silver, Au = gold, Zn = zinc, Pb = lead, Cu = copper, Sn = tin, Bi = bismuth, Cd = cadmium and g Ag eq/t = grams silver equivalent per tonne. Quantities are given in percent (%) for Zn, Pb Cu, Sn, Bi and Cd and in grams per tonne (g/t) for Ag, Au and Ag eq.
Metal prices and conversion factors used for calculation of g Ag eq/t (grams Ag per grams x metal ratio) are as follows:
Element | Price (per kg) | Ratio to Ag | |
Ag | 1.00000 | ||
Sn | 0.03200 | ||
Zn | 0.00320 | ||
Pb | 0.00240 | ||
Au | 65.6000 | ||
Cu | 0.01006 | ||
Bi | 0.01458 | ||
In | 0.34857 | ||
Cd | 0.00629 |
In calculating the intersections reported in this press release a sample cutoff of 30 g Ag eq/t was used with generally a maximum dilution of 3 continuous samples below cutoff included within a mineralized section unless more dilution is justified geologically.
The equivalent grade calculations are based on the stated metal prices and are provided for comparative purposes only, due to the polymetallic nature of the deposit. Preliminary metallurgical tests are in progress to establish levels of recovery for each element reported but currently the potential recovery for each element has not yet been established. While there is no assurance that all or any of the reported concentrations of metals will be recoverable,
Table 2: Summary of Diamond Drill Holes Completed with Assays Pending and Drill Holes in Progress at Iska Iska from press release of
Hole No. | Type | Collar Easting | Collar Northing | Elev | Azimuth | Angle | Hole Length m |
Surface Drilling Northwest Extension Santa Barbara | |||||||
DSB-12 | S | 205072.7 | 7656867.5 | 4165.0 | 225 | -40 | 806.2 |
DSB-13 | S | 205072.7 | 7656867.5 | 4165.0 | 225 | -60 | 696.5 |
DSB-14 | S | 205283.0 | 7656587.2 | 4175.0 | 225 | -65 | 814.8 |
DSB-15 | S | 204973.1 | 7657053.8 | 4165.0 | 225° | -40 | 731.2 |
Subtotal | 3048.7 | ||||||
DSB-14 | S | 205283.0 | 7656587.2 | 4175.0 | 225 | -65 | In progress |
DSB-16 | S | 204973.1 | 7657053.8 | 4165.0 | 225° | -65 | In progress |
Underground Drilling Huayra Kasa – Santa Barbara Area | |||||||
DHK-23 | UG | 205418.5 | 7656360.0 | 4151.9 | 270 | -50 | 598.0 |
Subtotal | 598.0 | ||||||
Underground Drilling Santa Barbara Adit | |||||||
DSBU-1 | UG | 205285.2 | 7656074.8 | 4165.0 | 90 | -10 | 260.5 |
DSBU-2 | UG | 205285.2 | 7656074.8 | 4165.0 | 270 | -20 | 563.6 |
Subtotal | 824.1 | ||||||
DSBU-3 | UG | 205285.2 | 7656074.8 | 4165.0 | 270 | -20 | In progress |
Central Breccia Pipe – Surface Radial Drill Program – North Setup | |||||||
DCN-05 | S | 204902.0 | 7655860.0 | 4420.0 | 90 | -60 | 524.3 |
DCN-06 | S | 204902.0 | 7655860.0 | 4420.0 | 180 | -80 | 626.4 |
DCN-07 | S | 204902.0 | 7655860.0 | 4420.0 | 270 | -60 | 680.4 |
Subtotal | 1831.1 | ||||||
Central Breccia Pipe – Surface Radial Drill Program – South Setup | |||||||
DCS-03 | S | 204852.1 | 7655612.3 | 4429.7 | 225 | -60 | 443.5 |
DCS-04 | S | 204852.1 | 7655612.3 | 4429.7 | 180 | -60 | 644.4 |
Subtotal | 1087.9 | ||||||
Porco Central – Surface Radial Drill Program | |||||||
DPC-01 | S | 205457.2 | 7655110.9 | 4175.0 | 270 | -60 | 767.5 |
DPC-02 | S | 205457.2 | 7655110.9 | 4175.0 | 225 | -60 | 908.2 |
DPC-03 | S | 205457.2 | 7655110.9 | 4175.0 | 135 | -60 | 524.5 |
DPC-04 | S | 205457.2 | 7655110.9 | 4175.0 | 0 | -60 | 371.4 |
DPC-05 | S | 205457.2 | 7655110.9 | 4175.0 | 90 | -60 | 407.5 |
DPC-06 | S | 205457.2 | 7655110.9 | 4175.0 | 243 | -60 | 716.4 |
Subtotal | 3695.5 | ||||||
TOTAL | 11,085.3 |
S = Surface UG=Underground; collar coordinates in metres; azimuth and dip in degrees
Total drilling completed since the start of the program on
Graphics accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5067e89e-5d04-4d1f-aba0-99d4decf2547
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad1f1434-1f05-4057-8e3f-6feb04b698c5
Qualified Person
Dr.
Drill samples are prepared in ALS Bolivia Ltda’s preparation facility in
Unfortunately, the ALS Global laboratory in
Recently,
About
Eloro began underground diamond drilling from the Huayra Kasa underground workings at Iska Iska on
Subsequently, on
A substantive mineralized envelope which is open along strike and down-dip extends around the breccia pipes. Continuous channel sampling of the Santa Barbara Adit located to the east of SBBP returned 442 g Ag eq/t (164.96 g Ag/t, 0.46%Sn, 3.46% Pb and 0.14% Cu) over 166m including 1,092 g Ag eq/t (446 g Ag/t, 9.03% Pb and 1.16% Sn) over 56.19m. The west end of the adit intersects the end of the SBBP.
On
On
- 122.66 grams silver equivalent/tonne (“g Ag eq/t”) (35.05 g Ag/t, 0.72% Zn, 0.61% Pb, 0.11% Sn and 0.06 g Au/t) over 123.61m from 236.60m to 360.21m including 205.74 g Ag eq/t (92.30 g Ag/t, 0.57% Zn, 0.85% Pb, 0.18% Sn and 0.07 g Au/t) over 32.32m, from 317.21m to 349.53m.
- 105.41 g Ag eq/t (8.55 g Ag/t, 1.01% Zn, 0.48% Pb, 0.06% Sn and 0.38 g Au/t) over 173.58m from 449.87m to 623.45m including 199.77 g Ag eq/t (21.90 g Ag/t, 1.18% Zn, 0.93% Pb 0.12% Sn and 0.94 g Au/t) over 39.08m, from 551.19m to 590.27m.
- 146.19 g Ag eq/t (1.70 g Ag/t, 0.00% Zn, 0.01% Pb, 0.42% Sn and 0.02 g Au/t) over 10.20m from 171.60m to 181.80m in the oxide zone indicating potential for significant Sn mineralization in this strongly leached nearer surface zone.
- In aggregate, 64% of this 683.4m long hole returned reportable mineralized intervals.
Eloro reported additional multiple holes with significant silver-tin polymetallic Intercepts in the SBBP and CBP on
- Hole DSB-08, testing the northeast quadrant of the SBBP, encountered eighteen reportable mineralized intercepts beginning near surface to its terminus at 614.4 m. The longest intercept was 69.89 g Ag eq/t over 252.89m from 355.12 to 608.02m including several higher-grade sections of 196.60 g Ag eq/t including 131.13 g Ag/t over 14.52m, 134.62 g Ag eq/t including 93.25 g Ag/t over 21.08m and 145.35 g Ag eq/t including 2.38% Zn over 10.11m.
- Hole DSB-10, testing the southwest quadrant of the SBBP and northern part of the CBP, encountered twenty-nine reportable mineralized intercepts beginning near surface to its terminus at 1,019.4m. Tin was notably elevated in many intervals suggesting proximity to a mineralizing intrusive source in this area. Notable intercepts include 114.96 Ag eq/t including 0.325% tin (Sn) over 56.2m from 322.18m to 378.30m including a higher-grade section of 187.98 g Ag eq/t including 0.535% Sn over 28.86m, 80.71 g Ag eq/t including 0.213% Sn over 74.39m from 474.86 to 549.25m and 118.69 g Ag eq/t over 10.77m from 829.97 to 840.74m.
On
On
- Hole DHK-20, drilled from the west end of the Huayra Kasa underground workings at -50 degrees on section with hole DHK-18, which intersected 129.65 g Ag eq/t over 300.75m (see press release dated
July 28, 2021 ), returned 234.19 g Ag eq/t (70.58 g Ag/t, 2.31% Zn, 2.74% Pb and 0.042% Sn) over 53.20m from 139.35m to 192.55m including a higher grade portion of 931.73 g Ag eq/t (367.29 g Ag/t, 5.64% Zn, 13.67% Pb and 0.10% Sn) over 9.26m. Multiple additional significant mineralized intervals occur above and below this intercept. Mineralization occurs within the mineralized envelope east of SBBP in all host rock types. - Hole DHK-19, drilled to the southeast at -45 degrees from the west end of the Huayra Kasa underground workings, intersected 108.24 g Ag eq/t (3.14g Ag/t, 0.24 g Au/t, 2.03% Zn and 0.58% Pb) over 48.2m from 46.95m to 95.15m in altered dacite in the mineralized envelope of the SBBP. This includes a higher-grade interval grading 180.76 g Ag eq/t (4.46 g Ag/t, 0.35 g Au/t, 3.57% Zn and 1.05% Pb) over 15.02m. Multiple additional significant mineralized intervals occur above and below this intercept.
- Hole DCN-04 was drilled at -80 degrees to the north from the northern radial platform of the CBP. This hole intersected seventeen (17) mineralized intersections, principally Sn-Ag-bearing, over its 851.4m length. Best results include 71.54 g Ag eq/t (32.58 g Ag/t and 0.10% Sn) over 97.10m from 134.40 to 231.5m; 101.52 g Ag eq/t (28.74 g Ag/t and 0.19% Sn) over 62.01m from 281.40m to 343.41m; 70.42 g Ag eq/t (28.74 g Ag/t and 0.16% Sn) over 22.59m from 417.05m to 439.64m; and 236.96 g Ag eq/t (92.21 g Ag/t and 0.25% Sn) over 17.45m from 659.55m to 677.00m.
- Hole DCS-02 was drilled southeast at -60 degrees from the south radial platform of the CBP. This hole, which was drilled to 800.5m, intersected nine (9) reportable Ag-Zn-Pb-Sn mineralized intervals. Best results include 79.53 g Ag eq/t (including 0.21% Sn) over 19.42m, 101.01 g Ag eq/t (32.76 g Ag/t, 0.76% Zn, 0.75% Pb) over 10.47 and 130.95g Ag eq/t (34.14 g Ag/t, 0.10 g Au/t, 1.35% Zn and 0.56 % Pb over 7.40m. Mineralization in the southern part of the CBP is notable for containing significant Zn and Pb as well as Ag and Sn, a metal assemblage more comparable to SBBP and Porco. The northern part of the CBP is dominantly Sn-Ag suggesting a deeper origin for this part of the breccia pipe.
A detailed ground magnetic survey of the Iska Iska property, reported on
Geological mapping and satellite interpretation identified a third major breccia pipe target, Porco (South), that is approximately 600m in diameter (South) located southeast of the CBP in the southern part of the Iska Iska caldera complex. The Porco (South) Breccia Pipe target has a similar magnetic signature to the Santa Barbara and Central Breccia Pipes, further confirming the likelihood of it being a major breccia pipe. This target is currently being drill tested. Previous channel sampling in the Porco adit located adjacent the target area 200m to the southeast returned 50m grading 519.35 g Ag eq/t including 236.13 g Ag/t, 1.89 g Au/t, 0.87% Cu, 0.22% Bi and >0.05% Sn over an average sample width of 2.49m.
Currently three diamond drill rigs are active at Iska Iska, two surface rigs and one underground drill. Planned drilling for 2021 is 51,000m with the aim of outlining an initial inferred NI 43-101 compliant mineral resource by Q1 2022. A downhole induced polarization/resistivity (IP/Res) survey is in progress to further define drill targets and aid resource definition drilling. Preliminary metallurgical tests are also in progress. An updated NI 43-101 Technical Report is being prepared by independent consultant
Eloro Resources Ltd. Webinar
The Company is also pleased to announce that CEO,
Event Details:
Date:
Time:
Registration: https://event.webinarjam.com/channel/ELO
About
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in
For further information please contact either
Information in this news release may contain forward-looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Table 1
Significant Diamond Drilling Results, Iska Iska , as at September 28, 2021
Figure 1
Geology of the Iska Iska Caldera Complex showing locations of Major Breccia Pipe targets including the magnetic anomaly northwest of the Santa Barbara Breccia Pipe and diamond drill holes completed and in progress.
Figure 2
SW-NE Geological Cross Section, Santa Barbara Breccia Pipe showing Location of Newly Released Drill Hole DHK-22 Relative to Discovery Hole DHK-15.
2021 GlobeNewswire, Inc., source