- Mineral resource definition drilling continuing in the Santa Barbara target area which has been increased to more than 1,400m along strike, is 500m wide and extends to a depth of up to 600m.
Mineral Resource Definition Drilling at Santa Barbara Breccia Pipe
Eloro is continuing mineral resource definition drilling on the Santa Barbara Target Area which includes the Santa Barbara Breccia Pipe (“SBBP”), the surrounding mineralized envelope and the potential northwest extension indicated by the magnetic anomaly (Figure 1). Additional drilling since the Company’s
Three underground drill holes have been completed from the drill bay at the west end of the Santa Barbara adit. DSBU-01, drilled due east at -20 degrees, intersected extensive mineralization in the mineralized envelope of the SBBP. Holes DSBU-02 and DSBU-03 drilled due west at -20 degrees and -50 degrees, respectively, intersected significant mineralization along the southern margin of the SBBP. A fourth underground hole DSBU-04 is currently in progress, drilled due south at -20 degrees to fill in coverage in the mineralized envelope to the south of the SBBP. Assays on the underground and surface holes cited are all pending. Table 1 gives a complete listing of holes with assays pending.
Magnetic Inversion Model,
On
Figure 2 shows a NNW-SSE section through a 3D Inverse Magnetic Susceptibility Model calculated from the ground magnetic data. Measurements of the magnetic susceptibility of representative core samples were used as initial constraints for the model parameters. Geometric constraints were also applied to the model using geological observations. These included magnetic depletion in an oxidized zone near the surface and a depth interval consistent with drill results. Higher grade samples at Iska Iska generally have higher sulphide content and are distinctly magnetic. Magnetic susceptibility thus provides a good tool for outlining potential zones of mineralization.
The model demonstrates that the altered and mineralized zone at Iska Iska has the form of a giant “tongue” extending for a strike length of at least 2.4km, with a thickness near surface of approximately 400m, expanding to a depth over 1.2km in the southeast. The upper, oxidized part of the mineralized system has a very low magnetic susceptibility as does the underlying basement Ordovician quartz sandstone. SBBP is the shallowest mineralized structure followed by Central Breccia. The core of Porco appears to be deeper. Father south the model indicates strong magnetic susceptibility that may reflect a porphyry at depth.
Dr.
Table 1: 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 |
DSB-14 | S | 205283.0 | 7656587.2 | 4175.0 | 225 | -65 | 968.5 |
DSB-15 | S | 204973.1 | 7657053.8 | 4165.0 | 225 | -40 | 731.2 |
DSB-16 | S | 204973.1 | 7657053.8 | 4165.0 | 225 | -65 | 862.0 |
DSB-18 | S | 205207.1 | 7656676.3 | 4175.0 | 225 | -40 | 890.4 |
Subtotal | 6500.8 | ||||||
DSB-17 | S | 205131.3 | 7656765.4 | 4173.0 | 225 | -40 | 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 |
DSBU-3 | UG | 205285.2 | 7656074.8 | 4165.0 | 270 | -20 | 644.9 |
Subtotal | 1469.0 | ||||||
DSBU-4 | 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 | 15,182.3 |
S = Surface UG=Underground; collar coordinates in metres; azimuth and dip in degrees
Total drilling completed since the start of the program on
Figure 1:
Figure 2. Longitudinal Section Showing the Inverse Model of Magnetic Susceptibility. Susceptibility Highlights Major Targets and Geological Features https://www.globenewswire.com/NewsRoom/AttachmentNg/1289f498-2494-4047-94c5-9aa2356251e0
Qualified Person
Dr.
The magnetic survey was carried out by MES Geophysics using a GEM Systems GSM-19W Overhauser magnetometer. 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 677.00.m
- 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
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Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in
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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.
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Figure 1:
Geology of the Iska Iska Caldera Complex showing locations of Major Target Zones including the magnetic anomaly northwest of the Santa Barbara Breccia Pipe and diamond drill holes completed and in progress. A NNW-SSE line A-A’ indicates the surface trace of the Magnetic Susceptibility Model Section shown in Figure 2.
Figure 2.
Longitudinal Section Showing the Inverse Model of Magnetic Susceptibility. Susceptibility Highlights Major Targets and Geological Features
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