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Fundamental Research Re-Initiates Coverage on New Age Metals Inc. $NAM.ca with Largest Undeveloped Primary #PGM Deposit in Canada

Posted by AGORACOM-JC at 12:13 PM on Thursday, September 21st, 2017

New age large

  • Advancing its River Valley PGM project to a Preliminary Economic Assessment in 2018
  • Project has a measured and indicated resource of 91 Mt grading 0.84 g/t Pd + Pt + Au, 0.06% Cu, and 0.02% Ni, containing 3.9 Moz PdEq (palladium equivalent)
  • Currently pursuing a 16,500 ft drill program to confirm and expand the newly discovered high-grade near surface resource on the northern portion of the project
  • Palladium prices have almost doubled since the end of 2015
  • Also has a portfolio of five hard-rock lithium projects in Canada

Global platinum production was approximately 5.5 Moz, and global palladium production was approximately 6.6 Moz in 2016. To put in perspective, global gold production was 99.2 Moz in 2016. The following charts show the top platinum and palladium producers in the world. 


Canada is the fourth largest platinum (8% of global), and third largest palladium (11% of global) producer. The U.S. imports approximately 1.38 Moz of platinum (92% of its demand) and 1.92 Moz of palladium (86% of its demand) every year. The strong reliance on imports indicates the importance of PGM projects in North America. 

Canada is the fourth largest platinum (8% of global), and third largest palladium (11% of global) producer. The U.S. imports approximately 1.38 Moz of platinum (92% of its demand) and 1.92 Moz of palladium (86% of its demand) every year. The strong reliance on imports indicates the importance of PGM projects in North America. 


Palladium has been one of the best performing commodities in recent times as prices were up 96%, from US$500 per oz at the end of 2015, to the current price of US$980 per oz. 

READ ENTIRE REPORT

INTERVIEW: HPQ Silicon $HPQ.ca Discusses Importance Of Operational “Mini Model” Of Planned 200 tonnes Per Annum Pilot Plant

Posted by AGORACOM-JC at 4:19 PM on Tuesday, September 19th, 2017

American Creek $AMK.ca Reports That JV Partner Tudor Gold $TUD.ca Has Produced Numerous Intercepts of High Grade #Gold and #Silver in Preliminary Drilling on New HC Zone at Treaty Creek

Posted by AGORACOM-JC at 8:26 AM on Friday, September 15th, 2017

Hublogolarge2 copy

  • Tudor Gold Corp. has encountered numerous high grade gold/silver intercepts in preliminary drilling at the new HC zone at the Treaty Creek Project
  • Immediately north of, and in the same hydrothermal system as, Seabridge Gold’s KSM project and Pretivm’s Brucejack project
  • Hosts a precious-metal-rich, polymetallic, volcanogenic massive sulphide and sulphosalt (VHMS) mineralized system

American Creek Resources Ltd. (TSX-V:AMK) (“American Creek”) is pleased to announce that JV partner and operator Tudor Gold Corp. (“Tudor”) has encountered numerous high grade gold/silver intercepts in preliminary drilling at the new HC zone at the Treaty Creek Project located in BC’s “Golden Triangle” immediately north of, and in the same hydrothermal system as, Seabridge Gold’s KSM project and Pretivm’s Brucejack project.

The new HC zone shares geological characteristics similar and unique to the famous Eskay Creek deposit located approximately 12 km to the northwest.

Tudor reported the following:

“The HC mineralized zone of the HC deposit within the GR2 claim block on Tudor Gold Corp.’s 60-per-cent-owned Treaty Creek project, located in the Golden Triangle in British Columbia, hosts a precious-metal-rich, polymetallic, volcanogenic massive sulphide and sulphosalt (VHMS) mineralized system.

Walter Storm, president and chief executive officer, stated: “We are very pleased with the results so far. We were attracted to the Treaty Creek project by the clear potential for extensive mineralized zones on our claims, and the results from the HC zone within the GR2 claim block have exceeded our expectations. We look forward to the completion of a resource estimate on the HC zone and a resource estimate on the Copper Belle project, which is also well under way.”

The HC zone appears to be a complete precious-metal-rich VHMS deposit in which the feeder vein system, the vent structures and the sulphides in a restricted sedimentary basin had been intersected. All three zones of the HC deposit carry elevated values of gold. The feeder vein system also carries elevated silver and base metal (lead, zinc and copper) content.

The HC zone shows elevated concentrations of gold, silver and antimony sulphosalts hosted between a pervasively sericite-pyrite-chlorite altered volcaniclastic sequence (bimodal mafic-felsic affinity) and restricted sedimentary basins where mudstones host sulphide mineralization underlying stockwork base metal and precious metal veins. These characteristics are similar and unique to the nearby Eskay Creek deposit. The highest-grade and most continuous precious metal mineralization within the HC zone occurs as an apparent stratabound zone at the contact of the footwall mudstone and the hydrothermally altered volcaniclastic sequence. This is interpreted as being the product of a mineralizing growth-graben fault, proximal to felsic flows, ash tuffs and felsic conglomerates.

During the continuing 2017 season, Tudor Gold has drilled 13 holes in the vicinity of and to the north of the nine holes drilled in 2007 and 11 holes in 2009 by American Creek Resources. Together, these 33 holes have produced consistent geology demonstrating the continuity of the feeder vein system, the vent structure and the sedimentary basin within the area bounded by these holes (assays received up to HC-17-07; awaiting assays on all remaining 2017 holes).

The holes drilled by Tudor Gold and American Creek Resources cover approximately 400 metres along strike and 450 metres down dip at 50-metre space increments in the direction of the main mineralized structure. Historical surface sampling carried out by previous operators to both the north and south of the HC zone indicates that the main mineralized structure extends at least for 3,000 metres along strike. The entire 3,000-metre mineralized structure that hosts the HC zone remains open to the north, south beyond the existing drill holes and down dip.

ASSAY RESULTS:

1. The Feeder Vein System: It is comprised of discordant veins hosted mainly in pervasively sericite-pyrite-chlorite altered volcaniclastic sequence. Two types of veins are recognized: silver dominant Mn-rich carbonates and sulphides (semi-massive yellow to light brown zoned sphalerite, galena, pyrite and minor chalcopyrite can add to >50% of the veins) and gold dominant chalcedonic quartz veins. Textures include those more typical of the epithermal suite (banded, crustiform, breccia/vein).

Table 1. Assay results feeder vein system

Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
HC-17-01 170.35 170.8 0.45 6.4 29.1
HC-17-02 256.65 257.45 0.8 4.53 55.1
and 258.3 259 0.7 6.16 59.4
HC-17-03 395.35 397.3 1.95 10.97
including 395.35 395.9 0.55 14.30
and 395.9 396.8 0.9 3.48 16.9
and 396.8 397.3 0.5 20.80 548
and 435.3 435.8 0.5 33.80
HC-17-04 261.4 261.95 0.55 2.65 234
and 283.1 283.55 0.75 0.21 359
and 283.85 284.9 1.05 0.79 316
HC-17-05 203.05 203.95 0.9 11 13.8
HC-17-07 143.45 147.2 3.75 6.22
including 143.45 144 0.55 5.13 30.6
and 145.9 147.2 1.3 13.3 87

True thickness of the different mineralized intervals still to be determined.

2. The Vent Structure: It is comprised of silica flooded and altered mudstone and volcanic conglomerates along with breccias and semi-massive sulphide replacements. Several stages of silica can be recognized cementing and replacing successive events of brecciation. Silica alteration occurs as silicification and chalcedonic silica, usually gray to bluish in color, obliterating previous textures. Pyrite and Sb-sulphosalts are the dominant sulphides as veinlets, stringers and semi-massive replacements. Stibnite, galena, sphalerite and arsenopyrite are also common in veinlets and disseminations.

Table 2. Assay results vent system

Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
HC-17-01 247.3 247.8 0.5 2.58
and 247.8 248.35 0.55 5.52
HC-17-04 345.4 345.85 0.45 2.03
and 345.85 346.3 0.45 11.1
HC-17-05 203.05 203.95 0.9 11

True thickness of the different mineralized intervals still to be determined.

3. The Sulphides in Sedimentary Basins: Fine grained pyrite and Sb-sulphosalts have been identified as finely laminated sedimentary beds and patchy pyrite/quartz replacements within mudstones/siltstones in the proximity of the venting structures intersected in core, particularly around holes HC-17-01, 04, 05, 08, 10, 11 and 12 (as per visual inspection of the drill core). The mineralization appears to be hosted in the immediate contact of the underlying footwall mudstone unit and the upper altered volcaniclastic sequence.

Table 3. Assay results sulphides in mudstone host.

Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
HC-17-01 249.35 250.35 1 4.7
and 250.35 251.35 1 10.2
and 251.35 252.35 1 4.59
and 252.35 252.85 0.5 14.6
and 252.85 253.75 0.9 12.6
and 253.75 254.45 0.7 2.13
HC-17-04 346.6 346.95 0.35 5.17
and 346.95 347.35 0.4 8.91
and 347.35 348 0.65 4.42
and 348 348.6 0.6 16.5
and 348.6 349.3 0.7 14.4
and 349.3 350 0.7 5.41
HC-17-05 203.95 205.5 1.55 0.807
and 205.5 207 1.5 0.787
and 207 208.55 1.55 1.98

True thickness of the different mineralized intervals still to be determined.

Darren Blaney, President and CEO of American Creek stated: “This new HC zone northern extension of the GR2 is a bonus that we weren’t expecting. We are very encouraged by the remarkably similar characteristics of the HC to the Eskay Creek deposit located to the northwest of us. Although still very preliminary, the drill results thus far have shown great promise for the future discovery potential of this portion of the extensive Treaty Creek property. Three drills are presently turning on the property with the objective being to define a gold resource on both the Copper Belle and GR2 zones.”

The Qualified Person for the 2017 Treaty Creek project field season, the geological content of this news release, and for the purposes of National Instrument 43-101 is Raul Sanabria, MSc, P.Geo, EurGeol.

A summary of the Treaty Creek project can be viewed here: http://www.americancreek.com/images/pdf/Treaty_Creek_Joint_Venture_Project.pdf

The Treaty Creek Project is a joint venture between Tudor, Teuton Resources Corp., and American Creek. Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% carried interests in the property (fully carried until a production notice is given).

About American Creek

American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three “Golden Triangle” gold/silver properties; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor as well as the recently acquired 100% owned past producing Dunwell Mine group of properties. Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, Red Tusk and Glitter King.

For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: info@americancreek.com. Information relating to the Corporation is available on its website at www.americancreek.com

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

 

American Creek Resources Ltd.
Kelvin Burton, 403-752-4040
info@americancreek.com

Invested in Richmont Mines $RIC ? Did you know Monarques $MQR.ca acquired all Richmont’s Quebec assets #Gold #Mining

Posted by AGORACOM-JC at 5:21 PM on Thursday, September 14th, 2017

Monarquesgold hub large

MQR: TSX-V

Highlights of the main transaction

  • Monarques will acquire all of Richmont’s mining assets, properties and claims in Quebec.
  • Monarques will become the owner and operator of the Beaufor mine and the Camflo mill.
  • Monarques to retain Richmont’s highly experienced Quebec-based site teams.
  • Richmont will hold a 19.9% interest in the Corporation, inclusive of a $2.0 million investment by Richmont.

Did you know American Creek’s $AMK.ca Treaty Creek is adjacent to and part of the same system as Seabridge $SEA.ca $SA KSM Project?

Posted by AGORACOM-JC at 3:33 PM on Thursday, September 14th, 2017

AMK: TSX-V, OTCBB: ACKRF

RECENT HIGHLIGHTS

  • Additional gold discovery of 5.1m of 9.57 g/t gold from 249.35m to 254.45m Read More
  • Tudor Has Discovered a New Gold Zone at Treaty Creek: 110 M of 0.909 g/t Gold, Upper 316 M of Hole Yet to Be Assayed
  • Specimens from the Electrum property average 27,092 gm/tonne silver and 248 gm/tonne gold. Read More
  • Tudor has now completed the previously announced Magnetotelluric survey and has commenced drilling Read More

View Presentation

 

Sprott Mining $SII.ca And Sheldon Inwentash $IDK.ca Bring Artificial Intelligence To #Gold Exploration – MUST WATCH!

Posted by AGORACOM-JC at 1:34 PM on Thursday, September 14th, 2017

Threed capital

IDK: CSE

ThreeD Capital Announces Its Investment, GoldSpot Discoveries, Reports Major Milestone At Sprott Mining Majority Owned Jerritt Canyon Project

  • ThreeD Capital (IDK:CSE), Led By Legend Sheldon Inwentash, Owns 22% Of Artificial Intelligence Company, Goldspot Discoveries (A Private Company)
  • Goldspot Artificial Intelligence Has Proven Ability To Significantly Improve Mineral Exploration & Drill Targeting
  • Sprott Mining Engaged Gold Spot Discoveries To Use AI On Jerritt Canyon Project (Nevada) Results Exceeded All Expectations.

If  You Are Looking For A Small Cap Artificial Intelligence Investment, Consider

ThreeD Capital, Led By Sheldon Inwentash.

JERRITT CANYON PROJECT – USING ARTIFICIAL INTELLIGENCE TO IDENTIFY THE MOST PROSPECTIVE TARGETS

  • Hosted a historical resource of 12Moz Au with over 9Moz of past production.
  • Jerritt asked Goldspot to assess 30 years of data in order to assist with continued exploration.
  • Goldspot consolidated over 30 years of mining, and exploration data into one comprehensive geological model.
  • As a result, Goldspot was able to identify target zones with the highest prospectivity potential.

Took 5 months to accomplish what would have taken years by a team of geologists

READ PRESS RELEASE

WATCH EXCLUSIVE AGORACOM VIDEO – BEYOND THE PRESS RELEASE

 

Great Atlantic Receives Diamond Drilling Permits Golden Promise Gold Property in Central Newfoundland

Posted by Er at 7:52 AM on Thursday, September 14th, 2017

 

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564603/hub/GREATATLANTIC_LOGO_TESTER-e1480712241913.jpg

  • Permit allows for up to 8,000 meters of drilling and 48 drill holes
  • First phase of drilling scheduled in early October, focusing on the Jaclyn Main Zone
  • Zone has been traced for 450 meters and locally to a vertical depth of 175 meters

VANCOUVER, BC / ACCESSWIRE / September 14, 2017 / GREAT ATLANTIC RESOURCES CORP. (TSX-V.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received a permit for diamond drilling from the Newfoundland and Labrador Dept. of Natural Resources for its Golden Promise Gold Property in central Newfoundland. The permit allows for up to 8,000 meters of drilling and 48 drill holes. This permit expires on July 26, 2018. Multiple gold bearing quartz veins occur within the permit area including the Jaclyn Main, Jaclyn North, Jaclyn South and Jaclyn West Zones. The Company is planning to commence the first phase of drilling in early October, focusing on the Jaclyn Main Zone and area east of and along strike of the Jaclyn North Zone, including areas of high grade gold bearing quartz boulders.

To view Map 1, please click the following link:
https://www.accesswire.com/uploads/GA1.png

  • To view Map 2, please click the following link:
    https://www.accesswire.com/uploads/GA2.png

    Phase I drilling will include the Jaclyn Main Zone, located in the northern region of the property. Most of the historic work was conducted at the Jaclyn Main Zone. A National Instrument 43-101 compliant inferred resource of 921,000 tonnes at an average grade of 3.02 g/t Au (89,500 ounces contained gold) was reported in 2008 for the Jaclyn Main Zone. Gold recovery from a reported 2,241 tonne bulk sample collected in 2010 at the Jaclyn Main Zone was reported to average 4.47 g/t Au. The average tails grade for the sample was reported to be 1.12 g/t Au. A “back-calculated head grade of 5.59 g/t Au” was reported for the bulk sample. The Jaclyn Main Zone has been reportedly traced for a strike length of approximately 800 meters (northeast to east striking) through trenching and diamond drilling to approximately 420 meters vertical depth.

    To view Jaclyn Main Zone – 2010 Bulk Sample Area, please click the following link:
    https://www.accesswire.com/uploads/GA3resize.jpg

    The second area of focus during Phase I drilling is the Jaclyn North Zone, reported approximately 250 metres north of the Jaclyn Main Zone. Drill holes are planned to test the extension of Jaclyn North Zone along its projected strike to the east. Recent trenching in this area revealed thick overburden (predominantly greater than 3 or 4 metres in recent trenches). Gold bearing angular quartz bounders were discovered in till within these trenches including multiple high grade boulders in one trench approximately 260 meters east of the eastern-most historic Jaclyn North drill hole. Grab samples of boulders from this trench returned 31.96, 78.05, 163.99 and 332.67 g/t gold (9.7 oz./ton gold) (News Release of August 31, 2017). The area of this particular trench is a high priority target for the Company and will be tested during the Phase I drilling.

    The northeast striking Jaclyn North Zone has been reportedly traced by diamond drilling (13 holes) for approximately 450 meters and locally to a vertical depth of 175 meters. The zone is reported to contain 3 quartz veined sub-zones. Reported drill intersections include (core length):

    • GP03-32: 12.13 g/t Au / 0.35m & 12.30 g/t Au / 0.30m
    • GP07-76 (Upper Sub-zone): 11.28 g/t Au / 0.30m
    • GP06-51 (Middle Sub-zone): 5.24 g/t Au / 1.70
    • GP06-47 (Lower Sub-zone): 15.23 g/t Au / 0.30m
    • GP10-103: 6.19 g/t Au / 0.35m

    To view Map 3, please click the following link:
    https://www.accesswire.com/uploads/GA4.png

    The 2008 NI 43-101 Technical Report states the style of veining, mineralization, alteration, host rock and tectonism at Golden Promise most closely resembles other turbidite-hosted (or slate belt) gold deposits throughout the world.

    Access is excellent with a paved provincial highway transecting the property. The property is located near the town of Badger and approximately 50 kilometres northeast of the Valentine Lake Property of Marathon Gold Corp.

    Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.

    David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

    About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

 

 

Invested in Wellgreen Platinum $WG.ca ? Did you know New Age Metals $NAM.ca has Canada’s Largest Undeveloped Primary #PGM Resource

Posted by AGORACOM-JC at 12:10 PM on Tuesday, September 12th, 2017

New age large

(NAM:TSXV)

Two Divisions: PGM and Lithium

  • PGM Division: focus on Development of the 100% owned River Valley PGM Project. Canada’s Largest Undeveloped Primary PGM Resource, with 2.5 Moz PGM, in Measured plus Indicated mineral resources.

River Valley PGM Project

  • Midway through 16,500ft drill program
  • Abitibi Geophysics has completed the final IP geophysical report
  • Drilling has been focused on follow-up drilling to further test the continuation of the Pine Zone and Dana North Zone
  • Further drilling will test the geophysical targets from the IP Survey

Glacier Lake Receives Work Permit Approval for up to 10,000 Meters of Drilling on the Silver Vista Project

Posted by Er at 10:01 AM on Tuesday, September 12th, 2017

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564613/hub/GlacierLake.png

  • Drill Permits cover 10,000m of drilling
  • Allows for up to 40 drill sites
  • Drilling targeting Silver & Copper mineralization

VANCOUVER, British Columbia, Sept. 12, 2017 (GLOBE NEWSWIRE) — Glacier Lake Resources Inc. (TSX-V:GLI) (“Glacier” or the “Company”) is pleased to announce that it has been granted permit approval by the British Columbia Ministry of Energy and Mines for drilling and trenching activities on the company’s flagship Silver Vista copper-silver project, located near Smithers, British Columbia. The Mines Act Permit (MX-1-987) allows for up to 40 drill sites, 10,000 meters of drilling and 10 trench/pit sites, over a 5 (five) year period. The objective of the drilling program is to verify and expand the copper-silver mineralization intersected in the 1991 and 1992 historical drilling programs. Equity Silver Mines Limited completed fourteen drill holes (1992) totaling 1,252.5 metres. Equity identified a semi-continuous zone 300 metres long by 50 metres wide by 3 to 150 metres deep with two of the holes ending in mineralization. Key intercepts include: MR91-01 – 32.87 metres at 0.19% Cu and 34.8 gpt Ag, MR91-03 – 61.91 metres at 0.11% Cu and 40.5 gpt Ag, MR91-04 – 25.9 metres at 0.08% Cu and 62.6 gpt Ag and MR92-02 – 36.58 metres at 0.49% Cu and 26.8 gpt Ag. Hole MR92-02 intersected a higher-grade intersection of 2.84 meters averaged 195.7 g/t Ag and 3.65 % Cu at a depth of 192.62 meters, and this represents the only deep hole to test this zone, and is a primary drill target for follow-up.

 

Glacier Lake Resources Inc. has yet to verify the Equity exploration date. Data verification is one of the primary objectives of this drilling program.

 

“We look forward to commencing the first drill program on the Silver Vista since 1992″ said Saf Dhillon, President and Chief Executive Officer. “The focus of this fall’s campaign will be to confirm and expand the higher-grade mineralization intersected in hole 92-02 and to test the potential of the large silver-in-soil geochemical anomaly, measuring 1.5 by 2.0 kilometers.”

 

Further details can be found in the recently completed 43-101 report on the property located under the Company’s SEDAR profile.

 

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo., a member of the Glacier Lake Advisory Board and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

Please visit our Website at: www.glacierlake.ca

 

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

 

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.  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 forward-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions.  There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.  We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

 

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

 

Saf Dhillon
President/CEO
Glacier Lake Resources Inc.
Tel: 866-687-7059
Dir: 604-688-2922
saf@glacierlake.ca

Eloro $ELO.ca Resources receives drill permit at La Victoria $TTC.ca

Posted by AGORACOM-JC at 9:15 AM on Tuesday, September 12th, 2017

Image result for eloro resources

  • Received its permiso para inicio de las actividades de exploracion (drilling permit) 
  • Authorizes the drilling of up to 10 sites within the Rufina zone of the La Victoria gold/silver project, Pallasca province, Ancash department, Peru

ELORO RESOURCES RECEIVES DRILLING PERMIT FOR THE LA VICTORIA GOLD/SILVER PROJECT DRILL PROGRAM

Eloro Resources Ltd.’s wholly owned Peruvian subsidiary Compania Minera Eloro Peru SAC has received its permiso para inicio de las actividades de exploracion (drilling permit) that authorizes the drilling of up to 10 sites within the Rufina zone of the La Victoria gold/silver project, Pallasca province, Ancash department, Peru.

The Drilling Permit is the final requirement to obtain the water permit. The ANA (Peru Water Authority) has already carried out its Property inspection and is now reviewing Eloro’s application. In the meantime, field crews are now proceeding with preparation of the approved drill sites and carrying out improvements to the existing public trail system.

“We are delighted to be on the verge of drilling the La Victoria Gold/Silver Project’s Rufina zone”, said CEO Thomas G. Larsen, “This zone has never been drill-tested even though significant gold mineralization outcrops at surface. Our fall 2016 IP/Res survey identified a large spatially-correlated chargeability and resistivity area beneath the Rufina zone which also will be tested.”

Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Eloro commented: “Recent geological work indicates that the mineralized target zone in Victoria-Victoria South which is up to 200 metres wide extends south for at least 2 kilometres along strike and likely connects with the Rufina zone. This is part of an extensive multi-phase epithermal gold-silver mineralizing system on the La Victoria property centred around the Puca Fault and environs (see press release August 8, 2017). We plan to carry out an aggressive drill program at Rufina while at the same time proceeding with drill permit applications for the other major target areas.”

The Rufina zone is located within the district of Huandoval where Eloro has good social support. District authorities are also favourable to economic development in partnership with the mineral exploration industry. Eloro currently has 14 Huandoval employees working for the IP/Res survey operating within the new Victoria-Victoria South discovery area.

With the award of an option to earn 25% of the Property to EHR Resources Ltd (ASX:EHX) through its Peruvian subsidiary EHR del Peru S.A.C., Eloro is fully financed to carry out the drilling at Rufina. A contract has been signed with Energold Drilling Peru S.A.C., for up to 5000 metres of NTW diamond drilling. The portable drill rig employed by Energold can be readily moved by existing public trails and requires only minimal drill pad preparation.”

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Peru and Quebec. Eloro owns a 100% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Tahoe’s La Arena Gold Mine. The Property consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. The Property has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.

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

We seek Safe Harbor.