Eloro Resources Ltd. Announces Start of Underground Preparation for Diamond Drilling Program at Iska Iska Silver-Polymetallic Property Area, Potosi Department, Southern Bolivia

Eloro Resources Ltd

Synchrotron study identifies four major mineralogical domains that are within a single large telescoped porphyry/epithermal mineralizing system
TORONTO, June 25, 2020 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro”, or the “Company”) is pleased to announce that its Bolivia subsidiary Minera Tupiza SRL has contracted Empresa Minera Villegas SRL to start underground drill bay preparations required for the 3,500m underground diamond drilling program planned on its Iska Iska Silver-Polymetallic Project (“Iska Iska”) in the Potosi Department, southern Bolivia. The Company and contractor have implemented safeguards to protect personnel from COVID-19. It is expected that drilling can commence once Bolivia lifts lockdown restrictions. Mineral Tupiza SRL has an option to acquire a 99% interest in Iska Iska (see press release January 9, 2020).Preparations will include rehabilitation of 400 meters of underground workings and preparation of drill bays in the Huayra Kasa mine and in the Mina 2 underground workings located 2 kilometres south of Huayra Kasa (Figure 1). All workings will be systematically geologically mapped and channel sampled.Tom Larsen, President & CEO of Eloro commented: “The planned drill program will follow the outline presented in the National Instrument (“NI”) 43-101 Technical Report by Micon International Limited (see press release April 29, 2020). This program will be the first drilling to ever be carried out on the property and is designed to test the full extent of the mineralized system in the vicinity of the mine workings. Iska Iska is in a prolific district of Bolivia and has excellent potential to host a significant silver-polymetallic mineral deposit.” Synchrotron Mineral Study
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