Eloro Resources Ltd. (TSXV: ELO) has drilled a hole which has yielded reportable intersections which collectively average 100.42 g Ag eq/t in the Iska Iska silver-tin polymetallic project in Bolivia.
The company has received assay results from an additional two diamond drill holes from its on-going drilling programme in the Potosi Department in southern Bolivia.
Hole DSBS-02 is a surface hole drilled due north at -300 from the south side of Santa Barbara across the higher-grade likely feeder zone. Hole DPC-09 is the first in a series of drill holes to test the extensive magnetic susceptibility anomaly in the Porco area in the southern part of the property.
Four drills including three surface drills and one underground drill are focussed on completing drilling in the Santa Barbara Resource Definition Drilling Area. The underground drill is on its last hole and will be moved to surface to complete drill holes requested by Micon International Limited (“Micon”) to better define the preliminary open pit to be utilised for the maiden mineral resource estimate targeted for completion at the end of Q3.
Overall, the company has completed 59,499m in 95 drill holes to-date, including four holes in progress.
Santa Barbara Mineral Resource Definition Target Area – Surface Drilling
Hole DSBS-02 was collared in the south part of the Santa Barbara target at an azimuth of 00 and dip of -300 to test across the likely higher grade feeder zone for the Santa Barbara Ag-Sn polymetallic mineralisation. This hole was drilled to a length of 1,023.4m, corresponding to a vertical depth of 745m, with 67% of the hole containing reportable intersections which collectively average 100.42 g Ag eq/t. Significant results are as follows:
- 146.65 g Ag eq/t (10.74 g Ag/t, 1.01 g Au/t, 0.31% Zn, 0.11% Pb and 0.06% Sn) over 88.66m from 319.36m to 408.02m, including a higher-grade section of:
- 737.33 g Ag eq/t (51.11 g Ag/t, 6.82 g Au/t, 0.24% Zn, 0.31% Pb, and 0.19% Sn) over 12.06m from 355.39m to 367.45m. Notably, this is the strongest gold-bearing intercept encountered to date at Iska Iska.
- 131.86 g Ag eq/t (21.38 g Ag/t, 0.06 g Au/t, 0.25% Zn, 0.24% Pb and 0.14% Sn) over 104.38m from 531.22m to 635.60m, including higher-grade sections of:
- 224.16g Ag eq/t (50.19 g Ag/t, 0.02 g Au/t, 0.41% Zn, 0.38% Pb and 0.24%Sn) over 26.79m from 543.09 to 569.88,
- 300.90g Ag eq/t (35.33 g Ag/t, 0.20 g Au/t, 0.26 % Zn. 0.78% Pb and 0.36% Sn) over 10.38m from 590.84m to 601.22m.
- 78.94 g Ag eq/t (12.77 g Ag/t, 0.06 g Au/t, 0.66% Zn, 0.12% Pb and 0.04% Sn) over 235.43m from 670.27m to 905.70m which included higher grade sections of:
- 494.81 g Ag eq/t (170.06 g Ag/t, 0.49 g Au/t, 0.37% Zn, 0.35 %Pb, 0.40 % Sn) over 4.46m from 722.70m to 727.16m,
- 181.64 g Ag eq/t (76.79 g Ag/t, 0.19g Au/t, 0.76% Zn, 0.23 %Pb and 0.07% Sn) over 4.35m from 770.73m to 775.08m,
- 120.54 g Ag eq/t (15.50g Ag/t, 0.01 g Au/t, 1.57% Zn, 0.34% Pb and 0.03%Sn) over 10.96 m from 800.44m to 811.40m, and
- 129.54 g Ag eq/t (6.44 g Ag/t, 0.08 g Au/t, 2.03% Zn, 0.34% Pb and 0.02% Sn) over 8.94 m from 853.28m to 862.22m.
“Grade shell modelling in Leapfrog of the Santa Barbara Deposit by the Iska Iska geological team indicates that drilling has defined a higher-grade zone >90 g Ag eq/t that extends approximately 750m along strike, is 650m wide and extends to a depth of at least 750m,” Eloro’s Executive Vice President, Exploration, Dr Bill Pearson, said. “The deposit is open in all directions.”
Dr. Chris Hale, Chief Geophysicist for Eloro said geophysical targeting is very useful at Iska Iska because the mineralisation often occurs in association with pyrrhotite, a mineral that affects both the electrical and magnetic properties of the host rock.
“BHIP helps to correlate mineralisation between the holes because it samples a much larger volume around the borehole than each assay does. BHIP provides two electrical measures of the quantity of mineralisation; chargeability that measures the amount of disseminated mineralisation and conductivity that shows when the strength of mineralisation reaches the point of “connectivity”, resulting in a conductive deposit.
“This explains the strong spatial correlation between the grade of mineralization and the chargeable volume around DSBS-02. We do not yet have BHIP surveys under DPC-09 but this hole was targeted to test a peak in the magnetic susceptibility that was modelled using surface magnetic data.
“The excellent spatial coincidence between the mineralised intersection and the peak in magnetic susceptibility gives us confidence that we will also likely intersect mineralisation when we drill the larger magnetic susceptibility zone that is modelled deeper and farther to the south.”
For further information please visit: https://www.elororesources.com/