- Eloro Resources recently published its initial NI-43101 compliance mineral resource estimate (“MRE”)
- The company’s long-awaited MRE revealed the existence of total inferred mineral resources amounting to 670 million tonnes – equivalent to nearly $6.8 billion in value
- Whilst impressive, Eloro’s management has revealed that the company has more exploratory drilling work to continue towards the site’s western edge, with further mineral resource estimate enhancement remaining likely
Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mining company focused on developing its potential world-class Iska Iska silver-tin polymetallic property located in the Potosi Department in southern Bolivia, recently updated the market with its initial mineral resource statement. Prepared in conjunction with mining consultancy Micon International Limited, Eloro announced that its exploratory drilling work had uncovered the existence of a ‘giant deposit’, amounting to nearly 300 million ounces of in situ silver, 4.1 million tonnes of zinc, 1.74 million tonnes of lead and 130,000 tonnes of tin boasting a cumulative in situ value of approximately $6.8 billion (https://ibn.fm/Hl4Yh). Interestingly, the company’s MRE attributed a value of $3.3bn to minerals located within the shallower, high-grade zone within the potential open pit, opening up the possibility of an earlier payback period than originally anticipated (https://ibn.fm/OkOdr).
Tom Larsen, CEO of Eloro, said: “We are delighted with this initial MRE which shows what a massive discovery Iska Iska is. The recent metallurgical work, particularly the positive “ore sorting” results, has significantly enhanced the potential economics by substantially lowering the NSR cutoff, especially for…
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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