Eloro Resources Reports Significant Mineralization Expansion at Santa Barbara Starter Pit
TL;DR
Eloro Resources' strong assay results expand mineral resources ahead of the Preliminary Economic Assessment, offering investors early advantage in a promising polymetallic project.
Eloro's step-out drilling at Iska Iska confirmed mineralization continuity with 1.72% Zn over 456m in DSB-88 and 1.27% Zn with 24.51 g/t Ag over 154.50m in DSB-89.
Eloro's mineral discoveries in Bolivia could create local jobs and economic development through responsible mining of essential metals for modern technology.
Eloro's Iska Iska property contains two near-surface deposits potentially mineable from one large starter pit with remarkably low stripping ratios.
Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) reported additional assay results from step-out holes DSB-88 and DSB-89 in the Silver-Zinc-Polymetallic Domain of its Santa Barbara starter pit area at the Iska Iska Project, confirming continued mineralization open to the east. The results represent significant expansion of the mineralized zone and include some of the strongest intersections recorded to date at the property.
Drill hole DSB-88 returned 1.72% zinc over 456 meters, while hole DSB-89 intersected 1.27% zinc, 24.51 grams per tonne silver, and 0.54% lead over 154.50 meters. These substantial intercepts demonstrate the continuity and strength of mineralization in the eastern expansion area of the Santa Barbara zone. The consistent results across multiple drill holes suggest a robust mineralized system with potential for further expansion.
Tom Larsen, CEO of Eloro Resources, emphasized the strategic importance of these results, stating that the drilling is expanding and upgrading resources ahead of the Preliminary Economic Assessment. The timing of these positive results provides critical data for the upcoming economic evaluation of the project, potentially enhancing the project's economic viability and development timeline.
Executive Vice President Dr. Osvaldo Arce provided additional geological context, noting that the Iska Iska property hosts two near-surface deposits potentially mineable from one large starter pit with a low stripping ratio. This configuration offers significant operational advantages, as a single large starter pit could potentially access multiple mineralized zones, reducing initial capital requirements and improving project economics through lower waste removal costs.
The Iska Iska Property represents a significant mineral exploration opportunity, classified as a polymetallic epithermal-porphyry complex, a major mineral deposit type in the Potosi Department of southern Bolivia. A recent NI 43-101 technical report on Iska Iska completed by Micon International Limited is available on Eloro's website at https://www.EloroResources.com and under its filings on SEDAR. The property's road-accessible, royalty-free status adds to its development appeal.
These latest drilling results have broader implications for the mining industry and investment community. The continued expansion of mineralization at Santa Barbara strengthens the case for Iska Iska as a developing world-class polymetallic deposit. For investors, the consistent positive results provide increasing confidence in the project's scale and economic potential. The company's progress also highlights Bolivia's emerging status as a significant mining jurisdiction, potentially attracting additional exploration investment to the region.
The timing of these results is particularly significant as the mining industry faces increasing demand for zinc, silver, and lead driven by global electrification and industrial growth. Successful development of the Iska Iska Project could contribute meaningfully to global supplies of these critical metals. The project's advancement through the exploration phase toward economic assessment represents an important milestone for Eloro Resources and its stakeholders.
Curated from InvestorBrandNetwork (IBN)