Eloro Resources (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) has announced the inaugural mineral resource estimate for its Iska Iska silver-tin polymetallic project in southwestern Bolivia.
The total in situ metal is estimated to be 298 million oz. of silver, 4.09 million tonnes of zinc, 1.74 million tonnes of lead, and 130,000 tonnes of tin, totaling 1.15 billion oz. silver equivalent in 670 million tonnes of ore.
Due to the polymetallic nature of the deposit, the resources were reported using net smelter return (NSR) cut-off values.
The zinc-lead-silver material has an NSR cut-off value of US$9.20 per tonne for open pit mining and US$34.00 per tonne for underground mining, while the tin-silver-lead material has an NSR cut-off value of US$6.00 per tonne for open pit mining.
The potentially open pittable inferred resource is 541 million tonnes at 0.69% zinc, 0.28% lead, and 13.6 g/t silver for an NSR value of US$20.32 per tonne at a cut-offof US$9.20 per tonne. This includes a higher-grade near-surface inferred mineral resource of 132 million tonnes at 1.11% zinc, 0.50% lead, and 24.3 g/t silver for an NSR value of US$34.50 at an NSR cutoff of US$25 per tonne.
The potentially open pit inferred mineral resource in the tin domain is 110 million tonnes at 0.12% tin, 0.14% lead, and 14.2 g/t silver for an NSR value of US$12.22 per tonne at an NSR cutoff of US$6.00 per tonne.
The potential underground inferred zinc resource is 19 million tonnes at 1.88% zinc, 0.36% lead, and 18.8 g/t silver with an NSR value of US$42.23 at a cut-off grade of US$34.40.
The total inferred mineral resource is 670 million tonnes at an NSR of $19.62, with 97% being potentially open pittable. The potential open pit is 1.4 km in diameter and extends to a maximum depth of 750 metres below the Santa Barbara hill with a stripping ratio of 1:1.
The resource estimate is based on 139 diamond drill holes totaling 96,386 metres, with all holes intersecting significant reportable mineralization and the deposit being open in all directions.
Eloro CEO Tom Larson said, “Although the resource is classified as inferred, we are confident that further drilling will upgrade much of this to the indicated category.”
For more information, visit www.EloroResources.com.