Eloro Resources Ltd.

Basically, a ramp would be cut into the highest grade zone of what will, in time, become the starter pit for Iska Iska. The actual work would be done by Bolivian mining contractors."We're working on the engineering and the economics now," said Larsen. "This is a mini-project which could be up and running in a matter of months. Round numbers you need 1.5 million for mining equipment, 3 million for a primary and secondary crusher and another 1 million for an XRT ore sorter."The crushed rock would be sorted and then shipped to a mill a few kilometres away. Total CAPEX of the mining...

Updated modelling of the potential starter pit area at Santa Barbara indicates that areas with higher-grade mineralization typically have much better drilling density, whereas holes outside the core area are too widely spaced to give an accurate grade estimate. This increased drilling density is particularly important for defining the extent of the high-grade Ag-bearing and Sn-bearing structures, and for categorizing the mineral resources from inferred to indicated, which have a major influence on overall grade and resources that will contribute to the preliminary economic assessment (...

Updated modelling of the potential starter pit area at Santa Barbara zone highlights the importance of completing additional drilling to better define the grade and extent of the mineral resource in this area. Areas with higher-grade resource typically have much better drilling density but holes outside the core potential pit area are too widely spaced to give an accurate estimate of grade. Substantive progress has been made on the preliminary economic evaluation (“PEA”) which is focussing on the Ag-Zn-Pb-Sn mineralization. The preliminary optioneering study has sh...