Eloro stock surges on high-grade drill results from Bolivia

Eloro Resources (TSXV: ELO) on Tuesday reported additional results from its diamond drilling program at the Iska Iska silver-polymetallic project in southern Bolivia. To date, Eloro has completed 20 holes totalling 5,573 m from both underground (12) and surface drill holes (8).

The new drill results comprise 10 additional holes on top of the five underground holes previously received. These include the first three underground holes drilled at the Santa Barbara Breccia Pipe (SBBP) discovery, the deepest of which intersected 129.60 g/t AgEq over 257.5 m.

Eloro’s senior technical advisor Dr. Quinton Hennigh said this drill hole “gives us our first picture of the true potential of the Iska Iska system.”

“A whole suit of metals including Ag, Zn, Pb, Cu, Sn, In, Bi and Cd are present, exactly the sort of assemblage one would like to see in a prolific ‘Potosi-type’ deposit,” Dr. Hennigh said.

While assay results are still pending, the three surface holes testing deeper parts of the SBBP discovery intersected significant mineralized breccia.

“Regionally, in terms of metal contents, Iska Iska is comparable with neighboring world-class polymetallic systems including Cerro Rico de Potosi, San Vicente, Chorolque and Tatasi, all of which have similar geological environments, with the notable exception of the large and remarkable mineralized breccia pipes at Iska Iska,” said Dr. Osvaldo Arce, general manager of Eloro’s Bolivian subsidiary.

Following release of the drill results, shares of Eloro Resources jumped to an all-time high of C$3.15 on Tuesday. The company has a market capitalization of C$137.1 million.