Eloro Resources Ltd. has reported assay results from the final two drill holes of its second phase definition program at the Iska Iska Project in southern Bolivia. The results confirm expanded higher-grade zones within both the Tin and Silver-Polymetallic domains in the Santa Barbara starter pit area. The completed phase totaled 8,286.40 meters across sixteen holes, all of which intersected significant mineralization in areas previously modeled as waste. Management noted that the results demonstrate a larger endowment of higher-grade silver-tin-polymetallic mineralization that is expected to upgrade and expand the Mineral Resource Estimate for the planned Preliminary Economic Assessment (PEA).
The company holds an option to acquire a 100% interest in the Iska Iska Property, which is classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department. 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 is road-accessible and royalty-free. The latest news and updates relating to the company are available in its newsroom at https://ibn.fm/ELRRF. The full press release detailing these results can be viewed at https://ibn.fm/obxAE.
These findings are significant as they suggest a more substantial and higher-grade resource than previously understood, which could positively impact the project's economic viability and future development plans. The confirmation of mineralization in areas once considered waste material indicates improved geological modeling and resource efficiency. This advancement supports the potential for a more robust Preliminary Economic Assessment, which is critical for securing project financing and advancing toward production. The expanded higher-grade zones could lead to increased metal recoveries and lower operating costs, enhancing the overall project economics in a region known for its mining history.
The results from the Santa Barbara starter pit area are particularly important as they provide a foundation for initial mining operations. The identification of both tin and silver-polymetallic domains within the same area allows for diversified metal production, which can mitigate market volatility risks. As global demand for critical minerals like tin and silver continues to grow, driven by technological and renewable energy applications, projects with confirmed higher-grade resources become increasingly valuable. The Iska Iska Project's progress contributes to the broader mining sector in Bolivia, potentially attracting further investment and development in the Potosi Department, a region with rich mineral endowments.
