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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

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  • 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.

AGORACOM Welcomes Tartisan Resources (TTC: CSE) – Situated in the Andes which hosts 12 operating mines, 3 of which are world class producers $TTC.ca

Posted by AGORACOM-JC at 8:43 AM on Tuesday, May 3rd, 2016

TTC: CSE

  • US $250,000 recommended work program
  • Grab samples of note:
    • 2.273 g Au/t
    • 1,814 g Ag/t
  • Gold and silver in Perú’s prolific North- Central Mineralized Belt
  • “La Victoria” lies within this 300 km belt along the Andes which hosts 12 operating mines, 3 of which are world class producers.
  • La Arena owned by Tahoe Resources, Lagunas Norte (Alto Chicama) owned by Barrick Gold Corporation (TSX:ABX) and Santa Rosa owned by Compañia Minera Aurífera Santa Rosa (COMARSA).
  • La Victoria has excellent potential to host high-grade oxide and sulphide epithermal Au, Ag vein systems as well as potential for a large, low-grade, disseminated Cu, Au and Ag (porphyry-type) deposit.

  • Situated in the District of Huandoval, Province of Pallasca, Department of Ancash in the Republic of Peru on the continent of South America; approximately 425 kilometers (km) north-northwest of Lima. It is located within the Instituto Geografico Nacional (IGN) map sheet 17-h Pallasca.
  • Claims are centered on Universal Transverse Mercator (“UTM”) coordinate system, Provisional South American Datum 1956 (“PSAD56″), zone 18L, 174202 meters (m) East and 9081240 meters North; or geographic coordinate system 77º 57′ 15″ of west Longitude and 8º 18′ 10” of south Latitude.

  • Located in a remote area of Ancash on the western slopes of the Peruvian Andes at elevations that vary from 3000 m to 4200 m above sea level.
  • Landscape includes rocky mountaintops emerging from wide grassy valleys carved by glacial activity (Figure 7.1a and 7.1b).
  • Fertile land is abundant at lower altitudes. The vegetation at lower altitudes includes eucalyptus and pine trees, pasture and garden vegetables whereas the vegetation above 4000 m is restricted to grasses such as the ichu, cactus and some flower species.
  • Temperature on the Property varies between -3 and 20 degrees celsius (“ºC”) with an annual average of approximately 13 ºC. There are only two seasons: the rainy season from November to March along with snowfall during this period, and the dry season from April to October which is also cold.

The Property is located about 10 hours away from Lima by truck with a travel distance of approximately 600 km. Exploration and mining activity can function year-round; however, it is expected that there will be down time during the rainy season because of the poor road conditions. Extreme caution is advised during this period. Figure 6.2 illustrates the route to the Property whereas the travel times, distances and road conditions are listed in Table 7.1.

Route Distance (km) Time (hours) Condition
Lima – Chimbote 440 5.75 Paved road
Chimbote – Santa 11 0.25 Paved road
Santa – Estacion Chuquicara 66 1 Paved road
Estación Chuquicara – La Galgada 30 0.5 Paved road
La Galgada – Pallasca 40 2 Maintained gravel road
Pallasca Property 6 0.5 Maintained gravel road

The nearest road to the San Markito and Victoria anomalies is approximately 3 km away, therefore, the Phase I exploration was performed using horses and donkeys as the main transport method. Water is not abundant within these areas but is available at higher elevations. Infrastructure improvements such as road, water reserve and electrical lines (if feasible) should be implemented before the Phase II exploration operations.

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