Eloro Resources Ltd

Published : October 11th, 2007

Updates Delta Project

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  


Eloro Resources Ltd.             PRESS RELEASE



Eloro Updates Delta Project

eloro logo minTORONTO, ONTARIO--(Marketwire - Oct. 10, 2007) - ELORO RESOURCES LTD. ("Eloro" or the "Company")(TSX VENTURE:ELO), would like to announce that a 3,500 metre diamond drilling program has commenced on its wholly-owned Delta Property located in the James Bay region in Northern Quebec.

As part of a regional geophysical program conducted this past summer, the Company commissioned a detailed ground InfinitemTM survey (a deep penetrating electromagnetic survey) on the Delta Property. The 36 line kilometre InfinitemTM survey was carried out as a follow-up to the airborne MAG/EM survey which was flown over the property during the fall of 2006.

The InfinitemTM survey outlined nine conductive anomalies which can be categorized as strong conductors, most likely resulting from metallic sources such as massive sulphides. In their interpretation of the survey, Abitibi Geophysics of Val-d'Or, Quebec concluded that follow up drilling is highly recommended on each of the detected anomalies.

The conductive anomalies fall within a 1.4 kilometre long Volcanogenic Massive Sulphide (VMS) sequence, complete with chert-magnetite-sulphide iron formation, altered volcanic agglomerates, cherts, disseminated and semi-massive chalcopyrite-pyrite stringers and veins, along with disseminated magnetite-pyrite-chalcopyrite.

On October 24, 2006, the Company announced the results obtained from an extensive field prospecting, mapping and sampling program on the VMS sequence which yielded significant grab sample results including:



Sample #      Cu %      Au g/t      Ag g/t

87656         2.34        0.04         9.2
87657         6.33        0.22        21.4
87658         2.91        0.67         8.5
87659         8.94        0.45        36.0
87660         9..00        0.51        56.0
95757         5.85       trace        48.0
95758         5.08       trace        49.8
95760        13.04       trace       108.4
293025        1.22        0.04         4.4
293026        1.60        0.03         5.9
293027        1.54       trace         5.1
293101        1.55        0.08        15.0
293104        2.60        0.06         8.7
293116        9.08        0.06        27.0
293117        3.52        0.07        14.0
293151        2.59        0.03         9.3
293152        1.64        0.04         6.4


The 3,500 metre drilling program on the Delta Property has been designed to further investigate the extent of the copper-silver mineralization associated with the InfinitemTM survey's electromagnetic conductors at depth.

Eastmain 1 Property

The 2006 airborne survey conducted over the Delta Property also covered the southern portion of the Company's wholly-owned Eastmain 1 Property which is located adjacent to and immediately north of the Delta Property.

The survey outlined several conductive zones in an area which has never been explored. As a result, Eloro recently completed 120 kilometres of line cutting in preparation for a ground geophysical survey (Maxmin EM survey) which will further explore the conductive zones outlined by the 2006 airborne survey. The ground geophysical survey is scheduled to begin next week and will be carried out concurrently with the Delta Property diamond drilling program. Targets generated by the Maxmin EM survey will be drill tested during a winter drilling program.

Stock Option Grant

The Company also announces that it has reserved a price of $0.45 per share for the grant of stock options to an officer and a consultant to acquire up to 300,000 common shares of the Company (the "Stock Options"). Each Stock Option entitles the holder thereof to acquire one (1) common share of the Corporation at an exercise price of $0.45 per common share prior to the close of business on October 10, 2012.


About Eloro Resources Ltd.

Eloro Resources Ltd. is a junior exploration company focused on discovering and developing gold-silver, base metal and uranium resources in the James Bay Mining District of northern Quebec and the Timmins Mining Camp of northern Ontario. The Company currently has 12 gold-copper-silver and 10 uranium properties covering 425 km2 in both the La Grande and Eastmain Greenstone Belts, proximal to Goldcorp's Eleonore Gold Deposit. Exploration activity of these relatively under-explored greenstone belts has dramatically increased and Eloro plans to continue aggressive exploration of its portfolio of properties.

The technical content of this press release has been reviewed by Mr. Martin Bourgoin, P. Geo., Executive Vice President of Eloro, and a Qualified Person under the guidelines of National Instrument 43-101.



For further information please contact:

Thomas G. Larsen, President and CEO or Jorge Estepa, Vice President
(416) 868-9168 (tel) or (416) 361-1333 (fax)


Further information is available on the Company's website at www.elororesources.com



This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings what are available at www.sedar.com.


ELO - TSX Venture Exchange

52 week high/low:  $1.05 - $0.34

Shares Outstanding:  43,738,888





Eloro Resources Ltd.. | 55 Adelaide Street East | Suite 410 | Toronto | M5C 1K6 | Canada

Eloro Resources Ltd

ISIN : CA2899002018
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Annual reports of Eloro Resources Ltd
Annual report 2007
Option Grants of Eloro Resources Ltd
4/1/2011Retains European Investor Relations Firm
Project news of Eloro Resources Ltd
5/30/2016Eloro Resources and Tartisan Resources Enter into Agreement ...
10/10/2013(Simkar)Announces Commencement of 8,000 Metre Drilling Program at Si...
3/21/2011(Simkar)Announces Completion of Acquisition of Simkar Gold Property ...
7/22/2008(James Bay Uranium)Initiates Second Drilling Campaign at the Delta Property; Ta...
7/16/2008(Charlevoix Property)Completes Acquisition of Strategic Hydrocarbon (Gas) Land Pa...
6/12/2008(Charlevoix Property)Signs Agreement to Acquire a Strategic Hydrocarbon (Gas) Lan...
1/22/2008(Lemoyne North)Drilling Commences on Gold Bearing Massive Sulphide Target a...
5/15/2007(Hurdman)Continues Intersecting Zinc-Silver-Gold at Hurdman Property,...
Corporate news of Eloro Resources Ltd
7/7/2016Eloro Resources Retains European Investor Relations Firm
6/10/2016Eloro Resources Commences Exploration on La Victoria Gold-Si...
6/3/2016Eloro Resources Announces Changes to Management
5/24/2016Eloro Resources Sells Royalty Interests in the Val d'Or Gold...
5/11/2016Eloro Resources Completes $400,000 Financing
5/9/2016Eloro Resources Announces $350,000 Financing
5/9/2016Eloro Resources Increases Financing to $400,000 and Closes F...
10/8/2015Eloro Extends Rufina East and West Mineralized Zones
8/28/2015Eloro Resources Announces Financing and Proposed Shares-for-...
8/12/2015Eloro Reports Assays from Rufina East New Mineralized Zone C...
3/30/2015DNI Metals Inc. and Great Lakes Graphite Provide Supply Agre...
3/23/2015DNI Metals Inc. Signs Graphite Supply Agreement with Great L...
3/2/2015Eloro Resources and Tartisan Resources Announce Sample Assay...
3/2/2015and Tartisan Resources Announce Sample Assay Results Contain...
2/27/2015Eloro Resources Grants Stock Options
2/19/2015Eloro Resources Completes Financing
2/5/2015Eloro Resources Announces Financing
1/29/2015Eloro Resources Grants Stock Options
1/26/2015Eloro Resources Closes Shares-for-Debt Transactions
12/19/2014Eloro Resources Announces Proposed Shares-For-Debt Transacti...
12/9/2014Eloro Reports on Discovery of Polymetallic Boulders by Visib...
9/30/2014Eloro Resources Announces Completion of Consolidation of Sha...
9/23/2014Eloro Resources Announces Consolidation of Its Shares
7/3/2014Eloro Resources Signs Definitive Agreement to Option La Vict...
6/6/2014Eloro Sells Remaining Interest in the Simkar Gold Project
10/17/2013(Simkar)d Mineral Resource Estimate at Simkar Gold Project
10/17/2013(Simkar)d Mineral Resource Estimate at Simkar Gold Project
9/23/2013(Simkar)Closes Transactions with Monarques Resources-Sells 50% Inter...
8/8/2013(Simkar)Enters Into Transactions With Monarques Resources-Agrees to ...
4/29/2011Appoints Director of Investor Relations
6/5/2008from Eloro Resources Ltd. and NFX Gold Inc. from Streetwise ...
4/9/2008Options Property to Fletcher Nickel
3/26/2008 Drills Significant Sulphide Mineralization at Delta Propert...
1/30/2008Options Otish Uranium Properties, Announces Sale of Addition...
12/7/2007Completes $3,000,000 Financing with MineralFields Group
11/14/2007 Announces Additional $1,000,000 Financing
11/12/2007 Announces Additional $3,000,000 Financing with MineralField...
10/11/2007Updates Delta Project
9/20/2007Retains AGORACOM to Provide Online Investor Relations and So...
7/5/2007Acquires Otish Uranium Properties Near Strateco's Matoush Di...
2/27/2007Completes $500,000 Financing with MineralFields Group
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 3.54
03/17 09:30 0.040
Prev close Open
3.50 3.48
Low High
3.39 3.60
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
3.14 -  3.54 11.67%
Volume 1 month var.
50,689 -%
24hGold TrendPower© : 41
Explores for Gold - Silver - Zinc
Interactive chart Add to compare
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 7.62-0.13%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 7.27-0.68%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.67+6.35%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+30.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.13-0.47%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.41-3.59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.22+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.24-2.04%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.44-4.64%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 46.69-0.13%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.02+0.00%Trend Power :