Expanded IP Surveys Outline an Additional 600m Strike Length to the Major Mineralized Corridor at Eloro Resources’ Iska Iska Project, Potosi Department, Southwestern Bolivia

• New chargeability high southeast of the MRE open pit indicates that the major mineralized structural corridor that is up to 800m wide extends a further 600m along strike to the southeast for an overall strike length of at least 2km. This new area has not been drilled.
• Chargeability highs correlate very well with areas of high-grade mineralization within the MRE. The chargeability anomaly southeast of the pit is very strong, which is a prime target potentially outlining additional higher-grade polymetallic (Ag-Zn-Pb) mineralization.
• The Chargeability anomaly is open along strike and at depth as exploration work has still not defined the full limits of this remarkable mineralized system.
  

TORONTO, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that an expanded induced polarization/resistivity (IP/Res) survey now covers most of the Iska Iska Project, Potosi Department, Southwestern Bolivia. East-west lines have been completed every 200m across and southeast of the Santa Barbara mineral resource using a deep-penetrating array of 50m and offset 100m dipoles to obtain a depth of investigation approaching 400m. The new array and lower surface elevations make it possible to image mineralization at elevations below 3600m in an extension beyond the open southeastern side of the pit that defines the initial mineral resource estimate (“MRE”) (see Eloro press release dated October 17, 2023). In this survey, chargeability highs across the volume already drilled for the Santa Barbara MRE coincide with peaks in the grade of the polymetallic Ag-Zn-Pb mineralization expressed as silver equivalent.

Dr. Bill Pearson, P.Geo., Eloro’s Executive Vice President, Exploration commented: “We have had great success with our borehole IP/Res program correlating mineralization between the drillholes, but the surface IP/Res provides a 3-dimensional view well beyond where we have drill hole coverage. The new chargeability anomaly, extending southeastward from the open pit that defines the MRE, adds at least an additional 600m of potential strike length to the major mineralized structural corridor that is up to 800m wide for an overall strike length of at least 2km. This new target area has not been drilled. In addition, the chargeability anomaly southeast of the pit is very strong, suggesting that it is a prime target for outlining additional higher-grade polymetallic mineralization.”