Eloro Resources (ELO.V): Continues to See Long Intercepts of Polymetallic Mineralization at the Santa Barbara Breccia Pipe, Potosi Department, Southern Bolivia
TORONTO, Feb. 23, 2021 (GLOBE NEWSWIRE) – Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce further diamond drill results from its Iska Iska Silver-Polymetallic Project in Potosi Department, southern Bolivia. To date, Eloro has completed 22 holes totalling 7,185 metres from both underground (12) and surface drill holes (10). Currently a steeply inclined deep hole, DSB-06, is in progress to test the Santa Barbara Breccia Pipe (“SBBP”) at depth. This release reports results from the last two underground holes (DHK-16 and DHK-17) and the first radial surface hole from SBBP (DSB-01). Results from the first deep radial hole, DSB-02, are delayed for reasons discussed below.
Results for Holes DHK-16, DHK-17 and DSB-01 are listed in Table 1. Due to the polymetallic nature of the deposit, silver equivalent (“Ag eq”) values have been included for comparative purposes. Pending holes are listed in Table 2. Figure 1 is a plan map showing locations of the drill holes completed and in progress with holes in this release highlighted. Figure 2 is a North-South geological cross section of the SBBP.
Highlights of the SBBP drill results are as follows:
Underground Drill Holes
- 67.39 g Ag eq/t over 213.10m including 205.17 g Ag eq/t over 13.04m in Hole DHK-16 drilled at -10 degrees 50m southwest and parallel to Hole DHK-14 (see press release January 26, 2021)
- 279.82 g Ag eq/t over 8.57m, 74.21 g Ageq/t over 52.93m and 121.61 g Ag eq/t over 37.85m in Hole DHK-17 drilled at -50 degrees 50m southwest and parallel to Hole DHK-15 (see press release January 26, 2021)
Radial Surface Drill Hole
- 114.43 g Ag eq/t over 33.25m in Hole DSB-01 drilled at -45 degrees south
I bought that stock a while ago after your very positive comment on the company drill result. Today the stock is collapsing (-25%) on drill result.
Could you please comment those result. Are they sooo bad ? ¨
No and these weren’t even the most interesting holes (which are delayed). Tree was shaken and weak hand sold. Case very much intact and I personally added during the sell off.
Can you explain to us why a tin porphyry is good?
Is there such thing as a silver porphyry?
Is a tin porphyry a good thing? Is that the sell off, idiots like me not realizing a tin porphyry is good?
You do amazing work and you really do a wonderful job of explaining
Thank you
Great paper on Porphory deposits around the world.
https://www.researchgate.net/profile/W-Sinclair/publication/337607885_Porphyry_copper_gold_molybdenum_tungsten_tin_silver/links/5de022ee299bf10bc32ec744/Porphyry-copper-gold-molybdenum-tungsten-tin-silver.pdf?origin=publication_detail
Greg,
Keep in mind I am not geologist :)… With that said porphyry deposits can be very large and high quality. To potentially find a big tin porphyry at a point when the tin market is very tight and price of the metal has been going up a lot would be a very very good outcome in my book. The bigger Iska Iska gets the larger the future price tag. If there are hundreds of Moz of AgEQ in the breccia pipes with a porphyry at depth that could be a really strategic asset for a very large company in a time when big discoveries are few and far between.
In short: Eloro could find a big and very valuable tin-gold-silver deposit in addition to the breccia pipes in a time when the demand/supply situation for tin is perhaps the best in decades.
All the best,
Erik