Eloro Resources Ltd (TSXV: ELO) is currently drilling the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia, and are constantly providing us with good news.
Eloro Resources is a paying customer of this website, therefore the author of this article does not own shares of it.
Eloro has now completed 53,445m in 83 drill holes, including three holes in progress.
Summed up:
- Includes higher-grade sections in hole METSBUG-01 of:
- 261.14g Ag eq/t (24.65g Ag/t, 0.15% Zn, 0.14% Pb, 0.81% Cu and 0.19% Sn) over 22.56m
- 599.26g Ag eq/t (208.14g Ag/t, 0.28% Zn, 0.51% Pb, 0.56% Cu and 0.41% Sn) over 17.60m
- 324.72g Ag eq/t (12.49g Ag/t, 1.88% Zn, 1.26% Pb, 0.02% Cu and 0.31% Sn) over 30.01m
- 292.78g Ag eq/t (55.64g Ag/t, 2.70% Zn, 1.31% Pb, 0.02% Cu and 0.12% Sn) over 31.72m
- Hole DSB-25, drilled approximately 400m northwest of hole METSBUG-01, intersected 25 reportable intersections with a best result of 205.13g Ag eq/t (25.01g Ag/t, 0.11g Au/t, 0.13% Cu and 0.25% Sn) over 81.11m including a higher-grade section of 428.83g Ag eq/t (55.88g Ag/t, 0.19g Au/t, 0.28% Cu and 0.53 %Sn) over 17.93m
It seems to me like Eloro’s chances, for it becoming one of the largest tin discoveries in the last century, are increasing with every hole.
Dr. Quinton Hennigh often tells me that as long as the value of the minerals in a ton of rock is above $50, the project is worth looking into.
Well, “Tipavo” on CEO.CA figured out that Eloro’s rock, even with only an 80% recovery rate, is still worth around $100/ton, double what Dr. QH tells me.
With every hole, we get to know the project a little bit better. Every dollar that goes into the ground has a value to it, in that it shows us what’s in the ground. I see this as eliminating “ifs”. The more “ifs” are eliminated, the lower the risk.
If this project turns out to be what Bill Pearson believes it will be, then the current market cap will be laughable. They have a lot more proving to do, so I’ll be on the look out for future results.
