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 a potential reduction in stripping ratios and operational costs, enhancing the overall project economics. The expanded higher-grade zones within the Santa Barbara starter pit area are particularly important, as this area is likely to be the initial focus of any mining activity, directly influencing early cash flow and payback periods.
The implications for the upcoming Mineral Resource Estimate and PEA are substantial, as a larger, higher-grade resource base typically translates into improved financial metrics, including net present value and internal rate of return. This development strengthens Eloro Resources' position in the Bolivian mining sector and could attract further investment interest. The project's location in the mineral-rich Potosi Department, combined with its road accessibility and royalty-free status, adds to its strategic value. As the company advances toward a PEA, these results provide critical data that will shape the project's design, scale, and economic parameters, potentially accelerating its path toward development and production.
