Eloro Resources (TSXV:ELO) announces further high-grade assays from the Iska Iska Project

• Eloro (ELO) has released assays from 21 diamond drill holes on its Iska Iska Project in Bolivia
• Drilling continues to expand the Santa Barbara high-grade feeder zone facilitated by new borehole geophysical data
• Higher-grade results from Porco are on the margins of conductive/magnetic anomalies
• Drilling for a potential northwest extension of Santa Barbara covers a strike length of 600 m
• Bill Pearson, Executive VP of Exploration, spoke with Sabrina Cuthbert about the results
• Eloro Resources is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec
• Eloro Resources Ltd. (ELO) opened trading at C$3.40

Eloro (ELO) has released assays from 21 diamond drill holes on its Iska Iska Project in Bolivia.

The company has completed 74,782 m in 113 drill holes to date at the project, including five holes in progress.

Santa Barbara high-grade feeder zone definition drilling

Five surface holes and two underground holes tested Santa Barbara’s high-grade feeder zone.

New borehole geophysical data has extended the zone a further 250 m along strike to the south-southeast.

The 3D inverse magnetic model suggests that the high-grade feeder zone may extend across the entire caldera for as much as a further 1 km along strike.

Based on current data, this feeder zone has a potential overall strike length of at least 2 km.

The definition drill program will focus on this highly-prospective extension to define a major open-pittable mineral resource in the valley of the caldera. The favourable prospects for this resource have pushed the estimated completion date for a maiden NI 43-101 mineral resource to the end of Q1 2023.

A standout result includes 150.47 g Ag eq/t (9.45 g Ag/t, 1.53 per cent Zn and 0.88 per cent Pb) over 441.21 m from 28.70 m to 469.91 m, including 209.30 g Ag eq/t (10.06 g Ag/t, 2.76 per cent Zn and 0.98 per cent Pb) over 102.30 m from 80.05 m to 182.35 m. This is the longest continuous mineralized intersection obtained in drilling at Iska Iska thus far.

Reinterpretation and significance of drilling in the Porco Area.

Eight diamond drill holes tested the magnetic susceptibility anomaly in the Porco Area.

Highlights include:

• 268.41 g Ag eq/t (30.31 g Ag/t, 2.22 per cent Zn, 1.19 per cent Pb and 0.16 per cent Sn) over 17.88 m from 253.77 to 271.65 m, and 185.50 g Ag eq/t (4.18 g Ag/t, 1.15 per cent Zn, 0.92 per cent Pb and 0.17 per cent Sn) over 5.98 m from 193.65 to 199.63 m
• 126.42 g Ag eq/t (5.09 g Ag/t, 1.77 per cent Zn and 0.13 per cent Pb) over 16.46 m from 392.40 to 408.86 m, and 171.01 g Ag eq/t (16.34 g Ag/t, 0.16 g Au/t, 2.14 per cent Zn and 0.81 per cent Pb) over 8.93 m from 241.07 to 250.00 m

All holes are on the margins of conductive/magnetic anomalies. The company will conduct further drilling to test the core of the geophysical anomalies in these areas.

Surface diamond drilling, Northwest Extension, Santa Barbara

Six diamond drill holes tested the potential northwest extension of Santa Barbara. The holes cover a strike length of 600 m.

Highlights include:

• 122.44 g Ag eq/t (22.28 g Ag/t, 0.22 g Au/t, 0.31 per cent Zn, 0.12 per cent Cu and 0.10 per cent Sn) over 33.11 m from 598.13 m to 631.24 m
• 144.53 g Ag eq/t (36.49 g Ag/t, 0.88 per cent Zn, 0.98 per cent Pb and 0.13 per cent Cu) over 17.96 m from 243.40 to 261.36 m, and 71.49 g Ag/t (3.49 g Ag/t, 0.22 g Au/t and 0.09 per cent Sn) over 33.88 m from 401.8 m to 435.68 m

Bill Pearson, Executive VP of Exploration, spoke with Sabrina Cuthbert about the results.

Eloro Resources is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec.

Eloro Resources Ltd. (ELO) opened trading at $3.40.