Long Intercepts Of Polymetallic Mineralization At Santa Barbara Breccia Pipe, Potosi Department
TORONTO - Eloro Resources Ltd. reported urther diamond drill results from its Iska Iska Silver-Polymetallic Project in Potosi Department, southern Bolivia. To date, Eloro has completed 22 holes totaling 7,185 meters 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. 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.
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; 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; and Radial Surface Drill Hole: 114.43 g Ag eq/t over 33.25m in Hole DSB-01 drilled at -45 degrees south.
Eloro also received preliminary analytical results from Hole DSB-02, drilled at -60 degrees south from the radial setup at SBBP. As previously reported, this hole intersected 332m of mineralized breccia in the adjacent Central Breccia Pipe (CBP) from 300m to the end of the hole at 632m with the breccia open at depth. Preliminary analytical results indicate that the CBP is chemically distinct from the SBBP. The metal association seen in the lower part of this hole, especially the last 15 m, sees associated Sn (tin) up to 0.23%, Ag (silver) up to 13.3 grams per tonne (gpt) and Au (gold) up to 0.89 gpt with considerably lower Pb (lead), up to 0.052%, and Zn (zinc), up to 0.292%, than what has been seen in the SBBP. Eloro considers that this style of mineralization is more closely aligned with large tin porphyries in the region and that a similar porphyry potentially underlies the CBP and perhaps more of the Iska Iska project area.
Eloro has determined that its current assay protocol is not suited for the style of mineralization described above, especially given the persistent elevated Sn levels seen in recent drilling. Therefore, the Company is changing the assay protocol to utilizing X-ray fluorescence (XRF) to more accurately analyze higher Sn. Tin in the CBP is suspected to occur as cassiterite which is insoluble in acid digestion, and therefore not suited for wet chemical techniques. In addition, other assay protocols are being changed to provide for a more accurate measurement of the wide-ranging suite of polymetallic metals at Iska Iska. Results from Hole DSB-2 will be reported once these more accurate results are available. Unfortunately, the ASL Global laboratory in Lima where the Iska Iska samples are being analyzed has had major delays in turnaround time due to the impact of the recent COVID-19 lockdown of Lima by the Peruvian government. This has restricted availability of critical supplies necessary to carry out analytical work. As a result, there will be delays in reporting of assay results.
Bill Pearson, P.Geo., Executive Vice President Exploration, said, “We are seeing increasing evidence of an Sn porphyry at a much shallower depth than previously thought. The SBBP is a major Ag-Zn-Pb target whereas CBP is looking more like an Sn-Ag-Au target. In the Huayra Kasa underground workings we identified a third major target, high-grade Au-Bi. Clearly we have a large scale complex multiphase porphyry-epithermal system driven by a major porphyry at depth. Our second drill will commence shortly with first pass drilling of the 700m longitudinal extent of the CBP from both the north and south setup areas. The drill currently at SBBP will complete the deep hole then we will follow up areas of higher-grade mineralization in the vicinity of Hole DHK-15 and follow up on the major extension of the SBBP to the west. Drilling will be designed in consultation with Micon International to optimize future resource estimation. Preliminary metallurgical tests have also been initiated with Micon.”