Interesting section of today's release in relation to Eloro:
On October 19, 2016, the Company announced that it has completed the Phase I exploration program recommended in the Technical Report. Phase I included geological mapping and sampling, geophysical surveys, data processing, permit applications, and accessibility improvements for the Phase II drill program. The Phase II diamond drilling, which will total up to 3,000m, will focus on targets at the San Markito and Rufina Mineralized Zones. The completed work increased the Company’s understanding of the potential of La Victoria and outlined a number of follow-up targets. In advance of the drilling program, the Company embarked on the second phase of a geological mapping and sampling program led by Dr. Osvaldo Arce. This work concentrates on the 3-plus km potential strike length of the San Markito-Victoria silver-gold mineralized breccia zones which have had very limited previous exploration. A new road is being constructed by the 4 Peruvian government that is opening up a key portion of La Victoria which will greatly facilitate the Company as it undertakes this work. In addition, the Company will be completing a detailed soil geochemical survey of Rufina North to better define a potential heap-leachable gold target near a strong IP anomaly outlined in its survey.
BDM Price at posting:
7.0¢ Sentiment: None Disclosure: Held
