08:33 AM EDT, 07/30/2024 (MT Newswires) -- Eloro Resources ( ELRRF ) said Tuesday that updated modeling of the potential starter pit area at the Santa Barbara zone within the Iska Iska silver-tin polymetallic project in Bolivia "highlights the importance of completing additional drilling to better define the grade and extent of the mineral resource in this area."

Eloro said better definition of high-grade structures in the potential starter pit area will be a key focus in the company's next definition drilling program.

"While geological and especially geophysical data clearly show that the mineralization is continuous between wide spaced holes, additional definition drilling is required to provide a more accurate estimate of grade," CEO Tom Larsen said.

Eloro said it continues to advance a preliminary economic assessment on the project.

The company's share price fell 2.7% yesterday to $1.07.