Eloro Resources (TSXV: ELO) has drilled the highest and most extensive silver grades yet in the Santa Barbara deposit with its Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia.
The company received assay results from eight additional diamond drill holes from its definition drilling programme at the Hole DHK-27 was drilled from Huayra Kasa due west at -45 degrees to a length of 860m to fill-in gaps in previous drilling of the High-Grade Zone. Five additional holes (DHK-26. DHK-28, DHK-29, DHK-30 and DSB-42) were drilled to the southwest from the Huayra Kasa area to test the eastern margin of the Santa Barbara de-posit. Hole DSB-43 was drilled on southwest side of Santa Barbara and hole DSB-46 tested the potential south-south-eastern extension.
The company completed 84,495m of drilling in 122 holes to complete the definition drill programme in the Santa Barbara target area in November 2022.
The company also reported channel sampling results from the Mina 1 and Mina 2 underground workings located approximately 2km south-southeast of the Santa Barbara adit and approximately 800m east of the Porco adit where previously reported channel sampling returned a 103m strike length grading 521g Ag eq/t (g 117g Ag/t, 1.44g Au/t, 0.54% Cu and 0.66% Sn) in altered basement sediments.
“Hole DHK-27 when determining grade times intercept of 65,887g Ag eq/t-m is the 2nd most valuable drill hole recorded to date and only just behind the 441m 66,389g Ag eq/t-m intersection in hole DSB-30 reported last fall,” CEO, Tom Larsen, said.
“These are remarkable intercepts and grades. The significance of DHK-27 is the consistent high silver grades averaging 69.80g Ag/t over a length of 325.48m which is close to true thickness.
“The higher grade 182.02g Ag/t over 109.60m portion of Hole DHK-27 attests to the potential of outlining much higher-grade areas in the Santa Barbara deposit with further drilling.
“It is also important to note that calculations for equivalent Ag grade in this release are based on July 2022 metal prices which for the major metals at Iska Iska are 13% to 33% lower than current prices hence the quoted values for silver equivalent are conservative.
“The technical team under the supervision of Dr. Bill Pearson, P.Geo. and Dr. Osvaldo Arce, P.Geo. are setting up for resumption of diamond drilling in early February that will target the major tin porphyry that they believe is below the Iska Iska porphyry and extends into the newly acquired Mina Casiterita property.
“Eloro has a remarkable opportunity to outline a second, potential world class tin deposit at Iska Iska in addition to the already extensive Santa Barbara silver-tin polymetallic deposit which is the focus of our inaugural mineral resource estimate expected by the end of Q1 2023. Expect to see a lot of activity in and around Iska Iska in 2023!”
Updated Geological Model for Iska Iska and its Santa Barbara Deposit
Drilling across the valley of the Iska Iska Caldera indicates that this area is underlain by a coarse-grained porphyritic dacitic intrusion that is well mineralized with Ag, Zn and Pb and is the likely source of the extensive epithermal mineralization in the Santa Barbara and Central Breccia areas. The porphyry, now named the Iska Iska Porphyry, is approximately 800m by 600m and is notable for the absence of tin mineralization despite the abundance of tin in the nearby area.
Detailed analysis and modeling of the geological, geophysical, and geochemical data at Iska Iska indicates that the hydrothermal signature for the Iska Iska porphyry-epithermal system is approximately 2.8km along strike, up to 1.2km across strike and extending to a depth of at least 1.4km.
The High-Grade Zone that occurs within this extensive hydrothermal system defined by the >90g Ag eq/t grade shell model is approximately 1,000m along strike, 800m wide and extends to a depth of 1,100m.
This zone is open to the south, west and northwest as well as at depth. Magnetic inverse modelling and limited deep drilling suggest that the major tin porphyry is likely below the Iska Iska Porphyry and to the south and southwest in the Porco and Mina Casiterita areas.
The definition drilling programme has more than doubled the potential volume of high-grade mineralized material to be assessed for the mineral resource.
For further information please visit: https://elororesources.com/