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DEEP-EM SURVEY INITIATED ON ELORO'S HURDMAN ZINC-SILVER PROPERTY
IN THE TIMMINS MINING CAMP
 Toronto,
Canada, May 5, 2008 - Eloro Resources Ltd.
(TSX-V: ELO) (the "Company" or "Eloro")
is pleased to announce that an airborne deep penetrative V-TEM survey has
commenced on its wholly-owned Hurdman Zinc-Silver, Agate and Gurney
properties located 120 km north of Timmins, Ontario. The survey is being
done by Geotech Ltd., of Aurora (Ontario) and is scheduled for completion
later this month.
The 1,382 line-km
V-TEM survey is being carried out under the supervision of John Langton,
M.Sc., P. Geo., a Qualified Person as defined by NI 43-101, and the
Company's newly appointed Exploration Manager, Ontario. Upon completion
of the airborne survey Abitibi Geophysics of Val d'Or (Quebec) will
complete a detailed interpretation-synthesis of the data.
The Hurdman Zinc-Silver, Agate and Gurney properties are comprised
of 50 claims, covering 120 square kilometres. Drilling by the
Company on the Hurdman Zinc-Silver property has defined continuous
zinc-silver bearing semi-massive to massive sulphides. The mineralization
is delineated over a 300 m strike length and 200 m downdip, and remains
open both laterally and at depth. Higher grade lenses have been
recognized within the mineralized zone averaging 3.5% zinc, 40 g/t silver
over an average width of up to 8 m.
A.S. Horvath
Engineering Inc. ("Horvath") recently completed a comprehensive
3-D synthesis of the Hurdman Zinc-Silver property, and determined that
there is sufficient continuity and consistent grade in the mineralization
to outline a mineral resource. The company has now mandated Horvath to
complete a National Instrument (NI) 43-101 compliant resource estimate
for the Hurdman Zinc-Silver mineralization.
In addition,
Horvath concluded that the geological and mineralization characteristics
at Hurdman bore similarities to the Broken Hill Sedex Deposit
("Broken Hill Deposit") located in New South Wales, Southern
Australia. The Broken Hill Deposit is one of the richest accumulations of
zinc-silver (and lead) in the World and has been in production since
1883. Strongly deformed, metamorphosed and stacked sulphides, gahnite (a
zinc silicate) and magnetite lenses are common, with thickening of the
mineralization in fold hinges. Individual lenses can range up to tens of
meters thick. The mineralization can extend hundreds of meters, often
grading laterally into disseminated pyrite and pyrrhotite units that
measure tens of kilometers.
The stacked highly
deformed, metamorphosed and shallow dipping sulphide lenses at the
Hurdman Zinc-Silver property, the accompanying alteration signatures and
gahnite, all lend support for a Broken Hill Deposit style of
mineralization.
Horvath
recommended that the Hurdman Zinc-Silver property be subjected to a deep
penetrative airborne V-TEM survey to detect structural features and
potential sulphide lenses which may be the locus of additional zinc-silver
mineralization under the overburden cover and at depth. With the
proximity of the Agate and Gurney properties the Company decided to
simultaneously survey all three properties. The interpreted V-TEM digital
data will then be incorporated into the existing 3-D property-wide model
for further analysis by Horvath. Priority drilling targets will be
selected on the basis of adding continuity to the known mineralization at
Hurdman and identifying new areas of potential massive sulphide
mineralization on all three properties.
At the Agate property, similar mineralization to that found on the
Hurdman Zinc-Silver property was identified by INCO in the mid-1960's. Historical values of 2.32% zinc over
13.4 m and 2.85% zinc over 2.9 m were reported by INCO in their 1991-1992
and 1993 Agate Property Assessment Reports (Ministry of Northern Development & Mines Geofiles 42H12NW8022
and 42H12NE0003).INCO also drilled at least 12 targets on the Gurney
property in the mid-1960's, although results were not reported.
Geological interpretations indicate that regional-scale fault systems
transect both the Agate and Gurney properties. The Company is encouraged by the structural,
geophysical, geological and metallogenic environments of both the Agate
and Gurney properties.
The information contained in this
news release was prepared and revised by Mr. John Langton, P. Geo.,
Eloro's Exploration Manager, Ontario, a Qualified Person under National
Instrument 43-101 standards.
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