Eloro Resources Ltd. (ELO:TSX.V; ELRRF:OTCBB) has announced robust assay results from its ongoing definition drilling program at the Iska Iska silver-tin polymetallic project in Bolivia. These latest results demonstrate high-grade mineralization over significant intervals, reinforcing the project's potential as a major silver-tin deposit.
Among the highlights, Hole DSB-69 intersected 127.49 grams per tonne of silver (g/t Ag), 0.50% zinc (Zn), 0.16% lead (Pb), and 0.31% tin (Sn), equivalent to 193.00 g/t silver-equivalent (Ag eq) over 41.25 meters, within a broader interval of 49.71 g/t Ag, 0.78% Zn, 0.32% Pb, and 0.15% Sn (106.97 g/t Ag eq) over 142.50 meters.
Hole DSB-70 yielded another strong intersection of 45.71 g/t Ag, 3.11% Zn, 1.91% Pb, and 0.23% Sn (232.35 g/t Ag eq) over 81.00 meters, part of a broader interval grading 30.08 g/t Ag, 1.63% Zn, 0.98% Pb, and 0.13% Sn (127.89 g/t Ag eq) over 255.75 meters. Similarly, Hole DSB-71 intersected 53.17 g/t Ag, 0.72% Zn, 0.40% Pb, and 0.19% Sn (116.62 g/t Ag eq) over 45.00 meters within a wider mineralized zone.
CEO Tom Larsen emphasized in the news release, "The latest reported infill drilling intercepts further demonstrate the consistency of potential commercial value per tonne that will be incorporated in the PEA later in 2025." Dr. Osvaldo Arce, Eloro's Executive Vice President, noted the strategic placement of drill holes to confirm high-grade zones, stating, "These holes' locations were selected to verify the continuation of higher-grade, large-volume polymetallic areas in the extensive mineralized system at Iska Iska."
Silver Sector Insights: Resilience and Demand
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Advancing Iska Iska: Drilling Results and Resource Expansion
As outlined in the company's 2025 investor presentation, Eloro Resources is leveraging these assay results to solidify the economic potential of Iska Iska as it advances toward a Preliminary Economic Assessment (PEA). The company's definition drilling program, strategically focused on the Santa Barbara starter pit area, aims to refine mineral resource estimates by upgrading previously underestimated grades and expanding high-grade zones.
Upcoming milestones include additional drilling to delineate the full extent of mineralization and finalize metallurgical studies. A bulk metallurgical test conducted in 2024 highlighted the viability of ore-sorting techniques, which could significantly reduce operating costs and optimize metal recoveries. The inferred resource estimate for Iska Iska already positions it among the world's largest undeveloped tin deposits, with an estimated 560 million tonnes of polymetallic material.
Eloro's strategy also includes advancing community and environmental initiatives in Bolivia, ensuring a sustainable and socially responsible framework for its operations. These efforts, coupled with the project's proximity to established infrastructure and mining-friendly policies, reinforce Iska Iska's competitive positioning in the global mining sector.
Third-Party Expert Analysis of Eloro Resources
On January 6, Matthew O'Keefe of Cantor Fitzgerald maintained a Speculative Buy rating for Eloro Resources, emphasizing the positive impact of recent drilling results at the Iska Iska project in Bolivia. He highlighted high silver-equivalent grades from newly reported drill holes, such as DSB-69, which intersected 127.49 g/t AgEq over 41.25 meters, and DSB-70, which yielded 232.35 g/t AgEq over 81 meters.
O'Keefe noted these results as supportive of Eloro's goal to define a higher-grade starter pit in the Santa Barbara area, suggesting that grades in this zone were previously underestimated. He valued Eloro at CA$3.60 per share, a 314% potential return from its price at the time of the report, based on a blended EV/resource methodology.
In his analysis, O'Keefe further underlined the strategic importance of the ongoing definition drilling program, which aims to expand and refine mineral resources in preparation for a Preliminary Economic Assessment (PEA) expected in late 2025.
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Eloro Resources Ltd. (ELO:TSX.V; ELRRF:OTCBB)
He remarked that the program has already achieved significant milestones, including better delineation of high-grade silver zones and further validation of the project's economic potential. O'Keefe concluded that Eloro's Iska Iska project is well-positioned to meet its development goals, given its robust resource base and strategic advancements.
Ownership and Share Structure
Refinitiv provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 14.43% of the company.
CEO Thomas Geoffrey Larsen owns 8% of the company, Director Francis Sauve owns 2.13%, Vice President Jorge Estepa owns 1.79% of the company, Lead Director Alexander S. Horvath owns 1% of the company.
Institutional investors own approximately 15.89% of the company, as Crescat Capital, L.L.C. owns 15.89% of the company.
There are 84.49 million shares outstanding with 72.3 million free float traded shares, while the company has a market cap of CA$51.75 million and trades in the 52-week period between CA$0.55 - 1.55.
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