Eloro Resources Ltd

Published : August 12th, 2015

Eloro Reports Assays from Rufina East New Mineralized Zone Chip Sampling to 63.8 g/t Au with 52.7 g/t Ag and 0.77% Cu

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Keywords :   Canada | Copper | Diamond | Gold | Lithium | Peru | Silver | Water |

Eloro Reports Assays from Rufina East New Mineralized Zone Chip Sampling to 63.8 g/t Au with 52.7 g/t Ag and 0.77% Cu

TORONTO, ONTARIO--(Marketwired - Aug 12, 2015) - Eloro Resources Ltd. (TSX VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro") and Tartisan Resources Corp. (CSE:TTC) ("Tartisan") are pleased to announce that they have received assays taken from the Rufina East, Rufina West, and San Markito mineralized zones of the La Victoria Polymetallic Property, Huandoval Region, Ancash Department, Peru.

Measured chip samples from the New Mineralized Zone on Rufina East (see News Release 5 May, 2015) ranged from 8.4 g/t gold, 39.6 g/t silver, and 1.26% copper to 63.8 g/t gold, 52.7 g/t silver, and 0.77% copper.

Assays averaging 1.35 g/t gold and 29.80 g/t silver were received from three samples taken from Rufina West; and assays averaging 0.77 g/t gold and 307.30 g/t silver were received from two samples of the Breccia Zone on the San Markito Sector.

In addition, assay values of 3.79 g/t gold and 34.6 g/t silver were obtained from a 45cm chip sample collected from a zone of graphitic sediments some 120m east of the New Mineralized Zone on Rufina East, where no sampling had been done previously.

Samples were taken for: 1) geochemical background testing; 2) geometallurgical studies, including the role of arsenopyrite in gold mineralization, and; 3) initial comminution testing of the mineralizing environments at Rufina East (oxide), Rufina West (oxide > sulphide) and San Markito (sulphide > oxide). The samples were collected during Eloro's April 2015 site visit (see News Release 5 May 2015).

UTM Zone 18L (m) Bureau Veritas
Easting Northing Elevation Sector Zone Sample Type Au
56467 172750 9079908 3112 Rufina East New Mineralized Zone Rock Chip 30 cm >10 34.3 0.37
56468 OREAS 62e QA/QC CRM 9.89 9.7
56469 172742 9079905 3112 Rufina East New Mineralized Zone Rock Chip 50 cm 8.40 39.6 1.26
56470 172742 9079905 3112 Rufina East New Mineralized Zone Rock Chip 40 cm >10 52.7 0.77
56474 172750 9079908 3112 Rufina East New Mineralized Zone Rock in place, dislodged 20.70 34.3 0.91
56460 172739 9071719 3106 Rufina East Graphitic Sediments Rock Chip 45cm 3.79 34.6 0.4
56463 172733 9079717 3106 Rufina East Altered non-graphitic sediments Rock Chip 1m trace trace trace
56464 172733 9079717 3106 Rufina East Altered non-graphitic sediments Rock Chip 30cm trace trace trace
56465 172733 9079717 3106 Rufina East QA/QC Duplicate of 56464 trace trace trace
56466 172733 9079717 3106 Rufina East Altered non-graphitic sediments Rock Chip 1m trace trace trace
56461 172746 9079899 3112 Rufina West Rufina Road Structure Rock Chip 40cm 2.904 3.4 0.09
56462 172733 9079960 3254 Rufina West Rufina Slope Grab (FeOx Alteration) 0.547 16.8 0.34
56471 172750 9079910 3114 Rufina West Rufina Slope Grab (Altered host diorite) 0.592 69.2 0.02
56472 172555 9082831 4053 San Markito Breccia Zone Grab (Fine Fraction) 0.58 >300 0.03
56473 172567 9082837 4056 San Markito Breccia Zone Rock Chip 1m 0.966 89.6 0.03
Overlimit Reassay Bureau Veritas
Zone Sample Type Au
56467 172750 9079908 3112 Rufina East New Mineralized Zone Metallic Screen + Fire Assay 17.7
56470 172742 9079905 3112 Rufina East New Mineralized Zone Metallic Screen + Fire Assay 63.8
56472 172555 9082831 4053 San Markito Breccia Zone Metallic Screen + Fire Assay 525

Quality Assurance/Quality Control sampling included a Certified Reference Material ("standard") and a duplicate sample inserted into the sample stream. The standard, an OREAS 62e sample, assayed 9.89 g/t gold and 9.70 g/t silver and has a certified reference value of 9.37 g/t gold and 9.86 g/t; both gold and silver values are within the 95% confidence limit for OREAS 62e. The duplicate sample returned 6 ppb gold compared to 7 ppb gold for the original, and <0.5 ppm silver in both cases. The original samples were digested in aqua regia and then assayed using ICP with MS finish. Overlimit samples (56467 and 56470 for gold and 56472 for silver) were re-assayed with metallic screen and fire assay with MS finish by Bureau Veritas (formerly Acme Labs and Inspectorate Labs in Lima, Peru, and Vancouver, Canada. Sample 56474 was digested with lithium borate fusion given high visible sulphides and assayed by ICP/MS at Agat Laboratories in Mississauga, Ontario.

"The La Victoria Property just gets more interesting as we receive more analytical results and build our understanding of the underlying system," said Eloro Chairman and C.E.O. Mr. Tom Larsen, "Especially at Rufina East with the discovery of another new mineralized zone that carries gold and silver."

A detailed program of channel sampling by rock saw and geological mapping has been completed over the roadcuts at Rufina East and West; samples are being prepared for analysis. Mechanized trenching, Diamond-drilling, and metallurgical testing are planned for 2015 on the La Victoria Polymetallic Project once the Declaración de Impacto Ambiental ("DIA") project environmental permit has been approved by the Peruvian Ministry of the Environment.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in northern and western Quebec. Eloro has been granted an option to acquire a 60% interest in La Victoria property, located in the North-Central Mineral Belt of Peru. The La Victoria Property is free of royalties and consists of two adjacent, but not contiguous, properties totalling eight mining concessions encompassing approximately 35 square kilometres. The La Victoria Property is within 50 kilometres of several producing mines, with three producers visible from the property which has good infrastructure with road-access and nearby sources of water and electricity.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Jim Steel MBA, P.Geo., a Qualified Person in the context of NI 43-101 has reviewed and approved the technical content of this news release.

Read the rest of the article at finance.yahoo.com
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Eloro Resources Ltd

ISIN : CA2899002018
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Eloro Res. is a gold and copper exploration company based in Canada.

Eloro Res. holds various exploration projects in Canada.

Its main exploration properties are HURDMAN, SIMKAR, JAMES BAY URANIUM, LEMOYNE NORTH and SUMMIT-GABBRE in Canada.

Eloro Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 109.9 millions as of today (US$ 87.9 millions, € 77.0 millions).

Its stock quote reached its highest recent level on March 26, 2010 at CA$ 8.80, and its lowest recent point on November 07, 2014 at CA$ 0.04.

Eloro Res. has 31 040 000 shares outstanding.

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