Eloro Resources has announced its maiden Mineral Resource Estimate (MRE) for the Iska-Iska silver-tin project in southern Bolivia, a milestone reached after comprehensive drilling and metallurgical testing.
The MRE, compliant with NI 43-101 standards, identifies two principal mineralisation zones: the deeper Tin Domain to the west and the shallower Zn-Pb-Ag Polymetallic Domain to the east. The Tin Domain hosts 110 million tonnes (Mt) at 0.12% Sn, equating to 130,000 tonnes of contained tin in the inferred category. This domain also contains lead and silver at 0.14% and 14.2 g Ag/t, respectively.
The Polymetallic Domain is much larger, with 560 Mt in the inferred category and Zn-Pb-Ag grades at 0.73%, 0.28%, and 13.8 g/t, respectively. The majority of both domains are potentially open-pittable, which would result in a pit 1.4 km in diameter with a stripping ratio of 1:1. The resource remains open in all directions.
“We are delighted with this initial MRE, which shows what a massive discovery Iska Iska is,” said Tom Larsen, CEO of Eloro. Surpassing 500 million tonnes (Mt), this resource now aligns with the ‘giant’ systems of the Bolivian Tin Belt, comparable to the likes of Cerro Rico de Potosi and Llallagua.
Mr Larsen continues, “The recent metallurgy, particularly the positive ‘ore sorting’ results, has significantly enhanced the potential economics.” As each domain concentrates mineralisation in vein breccias, ore-sorting could have a significant impact by selectively removing waste material, thereby reducing operating costs and increasing feed grades into the grinding circuit.
The geological team at Eloro hopes that the resource can be further expanded, with grades from wide-spaced drilling likely increasing following definition drilling. This is particularly significant for the Tin Domain, which has been historically under-drilled, with indications of a large porphyry at depth.
The company plans to commence the next phase of work, which includes definition drilling, further metallurgical testing, preparation of a preliminary economic assessment (PEA), and additional drilling of the tin domain.
Our view: Eloro’s substantial investment in metallurgical work, given the project’s current phase, is proving to be astute. It has not only curtailed costs but, by understanding the project’s metallurgy, also positioned Eloro to swiftly transition to a PEA.
Eloro Resources is a member of ITA’s Explorers and Developers Group.
