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Eloro Resources Ltd.
Summary
| Project: | La Victoria | |
|---|---|---|
| Deposit: | La Victoria | |
| Location: | Peru | |
| Commodities: | Gold-Silver | |
| Date: | 3/11/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-3-2019: Eloro Resources Ltd. announces an Exploration/Drilling Update report for its La Victoria deposit at the La Victoria project. Drilling results incl. 59.9m @ 0.62g/t Au from 162.1m. Toronto, Canada, March 11, 2019 – Eloro Resources Ltd. (TSX-V: E | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bill Pearson (Internal) | |
| ABSTRACT: | Toronto, Canada, March 11, 2019 – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the “Company”) is pleased to announce drill results from the La Victoria Project diamond drill program that arise from a detailed inhouse scientific analysis of the La Victoria Gold/Silver Project (“La Victoria”), upon which a two-phase diamond drilling project was recently completed. The reanalysis was done as part of an internal QA/QC audit from 4,216m in 12 diamond drill holes. The audit is being done by Jim Steel, MBA, P.Geo., who is assuming the role of Eloro Senior VP Mining and Qualified Person (“QP”) for continued works on the La Victoria project and Mr. Alex Horvath, P.Eng., a QP in resource modelling and development who will assume the role of Chief Technical Advisor while continuing to serve as a Director for Eloro. The Company believes that the results herein described are sufficiently compelling so as to consider additional exploration on the La Victoria project. To that end, the Company is proceeding with an internal resource modelling exercise of the reinterpreted data. Results of Data Reanalysis The highest grade sample taken from the La Victoria project assayed 63.8 g/t gold, 57.7 g/t silver, and 0.77% copper, with >1% arsenic (see News Release August 12, 2015). Hand samples showed a preponderance of arsenopyrite, which could be the source of the gold. A complete statistical analysis was done on the drill results and a stronger correlation was found between gold and arsenic than was found between gold and silver. No correlation was found between gold and iron or sulphur, which suggests pyrite is not mineralized with gold. Plotting anomalous arsenopyrite ranges in the drill hole assay data shows that there are at least three principal mineralized bands at the Rufina West target that correlate between drill holes, having been confirmed by holes in both east and west directions. Data suggests a subvertical orientation to the zones, similar to the structural orientation of mineralized fractures seen in surface mapping and sampling on the Rufina West sector (see News Release April 4, 2018). Mineralization is dominantly found in hydrothermal breccias at La Victoria, as in the nearby Shahuindo Gold Deposit, owned by Pan A | |
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