Expansion Drilling Commences at Eloro Resources Ltd.'s Iska Iska Project, Southern Bolivia
Eloro begins expansion drilling at its Iska Iska project in Bolivia as a preliminary economic assessment catalyst looms with normalizing logistics.
Eloro Resources Ltd. has officially commenced its 40,000-meter expansion diamond drilling program at the Iska Iska Project in Southern Bolivia. The initiative, executed by Major Drilling Group International Inc. using three drill rigs, will consist of approximately 75 holes with completion targeted for Q1 2027. The drilling aims to expand and upgrade the existing Indicated resource of 85.17 Mt @ 40 g/t Ag and the Inferred resource of 945.43 Mt @ 8.5 g/t Ag.
Phase 1 includes 35 holes totaling 18,250m, focusing on step-out drilling with 50m spacing in the higher-grade core of the potential starter pit. This effort follows successful definition drilling in late 2024/early 2025 that extended the mineralized envelope and confirmed high-grade silver, tin, and polymetallic zones.
Logistical challenges in Bolivia have been resolved following government-union agreements, which reopened transportation routes and ensured the uninterrupted delivery of essential supplies like diesel. Qualified Person Dr. Osvaldo Arce oversees the technical program, with analytical work handled by ALS and AHK laboratories.
Eloro Resources Ltd. (ELO) has issued a routine positive update regarding its expansion drilling program, following up on the announcement made in May 2026. The update confirms the company’s execution capability, validating its ability to mobilize equipment and secure logistics within a remote jurisdiction. This operational progress serves as a direct prerequisite for the upcoming Preliminary Economic Assessment (PEA).
The company reports no new surprises or material deviations from the previously announced plan. The market has already priced in the April 2026 Mineral Resource Estimate (MRE) update and the March 2026 financing. Consequently, this operational update represents an expected milestone that reduces execution risk but does not introduce new valuation drivers.
Additionally, the resolution of logistics blockades serves as a minor positive catalyst by removing a near-term operational headwind. This development was widely anticipated given the political context mentioned in prior releases.
Eloro Resources Ltd. (ELO) is an exploration and development company focused on the Iska Iska Project in the Potosí Department of Southern Bolivia. The project is a polymetallic epithermal-porphyry complex containing silver, tin, zinc, lead, and gold. Eloro holds a 100% economic interest via Minera Tupiza SRL following the completion of a definitive option agreement. The property is royalty-free, road-accessible (48km to Tupiza), and benefits from proximity to established rail routes and Northern Chilean seaports. The company is currently in the advanced exploration/development stage, transitioning from definition drilling to resource expansion in preparation for a PEA.