Eloro Resources Launches 40,000 Metre Drill Program at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
Eloro goes on the offensive with 40,000m drill program to prove Iska Iska’s giant potential.
The most recent news (February 20, 2026) announces the commencement of a 40,000-metre diamond drilling program at the Iska Iska silver-tin polymetallic project in Potosi, Bolivia. The company has contracted Major Drilling Group International Inc. to execute the program. Key operational details include: - Mobilization of two drill rigs immediately, with a third expected shortly. - Focus on 50m and 25m infill drilling in the Santa Barbara corridor. - Exploration of five other mineralized zones to expand the resource footprint. - Objective is to provide high-density data required for upcoming economic studies (PEA and Feasibility). - CEO Thomas Larsen noted an improved mining policy environment in Bolivia following recent general elections.
This news is a logical and expected progression following the company's successful completion of the Iska Iska project option payments in January 2026. While "Routine," the scale of the program (40,000m) is significant for a junior exploration company. - Resource Definition: This program is the bridge between the current "Inferred" Mineral Resource Estimate (MRE) and the "Measured and Indicated" categories required for a Preliminary Economic Assessment (PEA). - Grade Confirmation: Previous definition drilling (late 2025) showed much higher grades than the initial MRE suggested (e.g., Hole DSB-93 with 294.81 g/t Ag over 72m). If this 40,000m program replicates these higher grades, it will lead to a massive upward revision of the project’s valuation. - Cost Implications: A 40,000m program is expensive. Based on current cash levels (~C$12.1M as of Dec 2025), the company is likely to require additional capital before the program’s completion, despite recent warrant exercises.
Eloro is a junior explorer focused on the Iska Iska project in Potosi, Bolivia. - Project Type: Silver-tin polymetallic porphyry-epithermal complex. - Flagship Project Status: Eloro holds an option to acquire 100% (currently finalized at 99% with 1% held by the local partner for regulatory efficiency, but 100% economic interest to Eloro). - Resource: Initial Inferred MRE (Oct 2023) of 560Mt at 13.8 g Ag/t, 0.73% Zn, and 0.28% Pb (Polymetallic) and 110Mt at 0.12% Sn, 14.2 g Ag/t (Tin). Total contained metal is ~1.15B oz Ag Eq. - Potential: Management believes the project is a "Bolivian-type" giant deposit, comparable to Cerro Rico de Potosi.