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InvestorNewsBreaks - Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) Files NI 43-101 Iska Iska Technical Report

2023-10-17

TSXV - TSX Venture Exchange · Scandium · Rare Earth Elements · Gold · Canada · Regulatory Filings

InvestorNewsBreaks – Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) Files NI 43-101 Iska Iska Technical Report

Eloro Resources (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mine-development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec, has filed a National Instrument 43-101 (“NI 43-101”) Technical Report. According to the announcement, the report is in support of the initial mineral resource estimate (“MRE”) for the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. The report shows potentially open pittable inferred mineral resource in polymetallic domain (“Zn-Pb-Ag”) of 541 million tonnes grading 0.69% Zn, 0.28% Pb and 13.6 g Ag/t with a net smelter return (“NSR”) value of $20.32/t at an NSR cut-off of US$9.20/t, which is equal to the estimated operating cost. Potentially open pittable inferred mineral resource in the tin domain (“Sn-Pb-Ag”) was reported of 110 million tonnes grading 0.12% Sn, 0.14% Pb and 14.2 g Ag/t with an NSR value of US$12.22/t at an NSR cut-off of US$6.00/t.

According to the announcement, the open pit and underground NSR cut-off grades defining the overall mineral resource took into consideration estimated mining costs, G&A expenses, processing costs, metallurgical recoveries, smelter deductions, treatment charges, penalties and transportation costs for all metals of potential economic interest and are, therefore, equal to estimated total operating costs. The report also indicated that because Iska Iska deposit is polymetallic in nature, the value of its mineralized material comes from the extraction and sale of a combination of metals, including silver, lead, tin and zinc; that value may increase following further testing in copper, gold and indium.

To view the full press release, visit https://ibn.fm/SWHiR

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. Through its Bolivian subsidiary, 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 kilometers 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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