07:37 AM EDT, 09/04/2024 (MT Newswires) -- Eloro Resources ( ELRRF ) said on Wednesday it is planning an initial program of 5,700m of diamond drilling in the Santa Barbara starter pit area of the Iska Iska project in Bolivia.

The drill program aims to better define the vertical and lateral extent of high-grade silver mineralization. Drill pads are expected to be completed by mid-September for the start up of the initial diamond drilling program.

Eloro said the Santa Barbara Adit and area will be of particular interest and focus, where previous systematic continuous channel sampling along the adit returned average grades of 164.96 g silver/t, 0.46% tin, over 166 metres including 446 g silver/t and 1.16% tin over 56.19 metres.

"This new drilling would aim to generate expanded mineral resources in the Santa Barbara starter pit area and provide a mine life of 10-15 years at a preliminary optimized production rate of 35,000 tonnes per day, to be evaluated in the PEA," said CEO Tom Larsen. "This ramp would provide Eloro with the added benefit of bulk sampling assay results and potentially permit Eloro to start a small-scale operation and a pre-concentration plant that would aim to demonstrate the economic, environmental, social benefit and sustainable validity of the Iska Iska project."

The company has also appointed Dr. Osvaldo Arce to the role of Executive VP Latin American Operations. He is also General Manager of Eloro's Bolivian subsidiary Minera Tupiza.