MiningNewsBreaks – Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) Expands on Iska Iska’s Potential
Company: Eloro Resources Ltd. (ELRRF)
Category: Stock Spotlights
November 17, 2023
Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mining company, recently filed its NI43-101 technical report for its Iska Iska Polymetallic Property in support of its initial mineral resource estimate (“MRE”) published earlier. The company opted to employ the net smelter return (“NSR”) method to encompass the estimated dollar value that each metal contributes towards the total value of each tonne. “Initial findings have estimated an NSR for Iska Iska’s polymetallic domain (containing zinc, tin and silver) of $20.32/t for open pit mining and $42.23/t for underground mining versus NSR cut-off values (representing the cost of extraction and refining, below which mineral extraction would become economically unfeasible) of $9.20/t and $34.40/t, respectively. Meanwhile, the NSR for the Project’s tin domain has been appraised at a relatively more modest $12.22/t for open pit mining operations, albeit, representing a premium of over 100% relative to the tin domain’s NSR cut-off value of $6.00/t,” explains a recent article. “In addition to providing an update on the potential economic values related to the development of the Iska Iska Project, Eloro Resources also provided an updated estimate of the inferred mineral resource within the site… Total in situ metal is now estimated to amount to 298 million ounces of silver, 4.09 million tonnes of zinc, 1.74 million tonnes of lead and 130,000 tonnes of tin with the majority of the inferred mineral resources likely to be upgraded to ‘indicated’ mineral resources on the back of continued exploration works.”
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About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 100% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department in southern Bolivia. A recent NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited, is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF
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