Corporate Presentation January 2021 - TSXV ELO | FSE P2Q OTCQX: ELRRF - Eloro ...
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TSXV ELO | FSE P2Q
OTCQX: ELRRF
Corporate Presentation
January 2021
Forward Looking Statements
Certain information contained herein regarding Eloro Resources Ltd., including management’s assessment of
future plans and operations, may constitute forward-looking statements under applicable securities law and
necessarily involve risks, including but not limited to risks associated with mining exploration, operating costs,
production costs, volatility of share prices, currency fluctuations, imprecision of resource and reserve estimates,
environmental risks and ability to access sufficient capital from internal and external sources.
As a consequence, actual results may differ materially from those anticipated in any forward looking statements.
Plans, intentions or expectations disclosed in any forward-looking statements or information should not be read as
guarantees of future results or events, and will not necessarily be accurate indications of whether or when or by
which such results or events will be achieved.
Except as required by law, Eloro Resources Ltd., expressly disclaims any intention and undertakes no obligation to
update any forward looking statements or information as conditions change.
Any historical mineral resources mentioned are strictly historical in nature and are non-compliant to National
Instrument 43-101 mineral resources and mineral reserves standards, and should therefore not be relied upon.
A qualified person has not done sufficient work to upgrade or classify the historical mineral resources as current
National Instrument NI-43-101compliant.
|2
ELORO Corporate Introduction
Eloro is a publicly traded exploration and mine development company with a portfolio of silver, gold
and base metal properties in Bolivia, Peru and Quebec.
Eloro trades on the TSX-V under ELO, OTCQX under ELRRF and FSE under P2Q.
Eloro has an option to acquire a 99% interest in the 9 square km, highly prospective Iska Iska
Property, which is a major polymetallic porphyry-epithermal complex, a significant mineral deposit
type, 4,000 m above sea level in the Potosi Department of southern Bolivia.
Eloro recently announced a major discovery in the Santa Barbara Breccia Pipe with first drill results
including 129.60 g Ageq/t over 257.5m. This pipe has a diameter of 400m with a mineralized
envelope that extends a further 100m for an effective diameter of 600m.
Recent drilling has also confirmed the presence of the larger Central Breccia Pipe to the south
which has a surface dimension of 400m by 700m. Drilling has confirmed mineralized breccia to a
depth of 475m being open at depth. Drilling is on-going at Iska Iska.
Eloro also owns an 82% 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 Pan American
Silver’s La Arena Gold Mine.
Burgundy Diamond Mines, an ASX publicly listed company and current 18% owner of La Victoria,
had entered into a $5 million Cdn Option Agreement to earn a 25% interest in the property. They
have $1.4 million Cdn of expenditures remaining to reach that goal.
|3
ELORO Capital Structure
TSX- V:ELO
Exchange Frankfurt: P2Q (WKN A1JKAT)
OTCQX:ELRRF
Shares Issued and
52.0 million
Outstanding (Jan 25,2021)
Warrants
6.5 million
($0.50 to $2.00 on exercise)
Options
4.6 million
($0.40 to $0.87 on exercise)
0.25 million
Property Option
Fully Diluted 63.3 million
Share Price CDN $2.63
(Jan 25, 2021)
Market Share Capitalization CDN$136.8 million
*CDNcurrency
Management, Directors, Advisors & 27 M
Significant Holders
|4
ELORO Experienced Team
Management Team Technical Advisors
THOMAS LARSEN B.A. BILL PEARSON Ph.D., P.Geo.
Chairman andCEO Chief Technical Advisor
MILES NAGAMATSU C.P.A., C.A. QUINTON HENNIGH Ph.D, Geology/Geochemistry
Chief FinancialOfficer Senior Technical Advisor
JORGE ESTEPAB.A. HARRY BURGESS P.Eng
V.P.,Secretary-Treasurer Mining Engineer
CHRIS HOLDEN CFA
V.P., Corporate Development GRAHAM SPEIRS P.Eng.
Technical Advisor
OSVALDO ARCE Ph.D., P.Geo. Corporate Advisory Board
General Manager, Minera Tupiza S.R.L.
QUINTON HENNIGH Ph.D, Geology/Geochemistry
JIMENA MORAN B.A.
Senior Business Advisor
Executive Assistant
DOUG BACHE B. Math
Board of Directors Corporate Advisor
THOMAS LARSEN B.A.
Chairman andCEO Independent Technical Advisor Micon Int’l Ltd.
FRANCIS SAUVE
ALEXANDER HORVATH P.Eng. CHARLIE MURAHWI MSc., CP. Geo.,
Senior Economic Geologist
DUSAN BERKA P.Eng.
RICHARD STONE C.I.M.
|5
ISKA ISKA Bolivia
Top Tier large-scale deposits of gold, silver, iron ore, zinc, tin, lead and lithium.
These include: Cerro Rico de Potosi, Silver Sand, San Bartolomé, Pulacayo,
San Cristobal, San Vicente, Chorolque, Tasna, Choroma and Siete Suyos.
Rich history of mining and prospectivity is excellent. Limited exploration in the early
2000’s has now provided the opportunity of finding Tier 1 assets.
Modern mining laws and a supportive political environment
• New mining minister Ramiro Villavicencio has a technical history in mining
having worked for Sumitomo
• National Lithium Company (Gabino Gonzales – General Manager) has openly
expressed an objective to reactivate and industrialize lithium
• January 8th, 2021 Vice-minister of Mining:
“We are open to attracting investment wherever it comes from”
• Mining accounted for approx. 28% of Bolivia’s exports or $2.2 billion in 2017.
|6
DECARBONIZATION Metals for a Low Carbon Future
Source: MIT, Rio Tinto Source: World Bank Group
Renewable energy needs to increase from 14% to 44% of energy market in
order to meet Paris Agreement for 2050 (IEA)
|7
ISKA ISKA History of the Iska Iska Mining District
The exploitation of the Iska Iska mining In 2016, the Villegas family hired Dr.
district dates back to the Colonial Osvaldo Arce, P.Geo to evaluate the
period, when silver and gold veins property.
were mined on a small scale.
On Jan 9th 2020, Eloro Resources Ltd.
In the mid 1960’s, an intrusion related executed the Definitive Option
tin deposit, 2.5 km south of the Iska Agreement to acquire the Iska Iska
Iska property with the same name, was polymetallic property.
mined on 6 to 8 narrow veins grading
about 0.4% (Sn)
In the 1990’s, this tin property south Huayra Kasa
of Iska Iska was explored by Bolivian
company COMSUR, who completed
a 2,000 metre trenching program.
In 2012, the Villegas family took control
of the Iska Iska property after it lapsed
from previous ownership. They then Tin mine and
proceeded with prospecting and found trenching in
the old colonial workings of Huayra the 1990’s
Kasa. This proved to be a polymetallic
(gold, silver, zinc, lead) mineralized area
within the old Spanish workings.
|8
ISKA ISKA Definitive Agreement
On January 6th, 2020, Fully permitted for exploration
Eloro signed a drill program.
Definitive Option
Agreement, fully No fixed expenditure
permitted, road requirement
accessible, for
exploration drill No royalties
program at Iska Iska
which has never
been drilled
Eloro has issued to the Title Holder 250,000 common shares within 30
days of the signing of the Definitive Agreement and can elect to issue
250,000 common shares more within two years. Eloro also has the option
of paying US $10 million to the Title Holder within 4 full years, as part of
the royalty free deal
Independent National NI 43-101 report confirming the potential at Iska
Iska was completed on April 29, 2020 by Micon International.
|9
MINERAL DEPOSITS Bolivia a Prolific Mining Country
Dr. Osvaldo Arce, P.Geo., President
of the Bolivian Geological Society
(2010-2017), a highly recognized
Bolivian geologist and a key member
of the Eloro team, prepared a
comprehensive textbook on the
metalliferous ore deposits of Bolivia.
Iska Iska is in the SW part of the
Eastern Cordillera which hosts a
number of major polymetallic mines
and mineral deposits.
Cerro Rico de Potosi Comibol
Silver Sand New Pacific Metals
San Bartolome Argentum Investments Silver Sand
Pulacayo Silver Elephant
San Bartolome
San Cristobal Sumitomo Corp.
San Vicente Pan American Silver
| 10OPPORTUNITY In Bolivia
Bolivia has world class famous CERRO RICO
large scale deposits of gold, Cerro Rico de Potosí is the world’s
silver, iron ore, zinc, tin, lead and largest silver deposit and has been
lithium. mined since the sixteenth century,
producing approx. 2.1 billion ounces
POTOSI (2018) and is still producing today.
Silver from the mines of Potosi, still
a by-word in Spanish for incalculable
wealth, which supercharged Europe’s After 500 years of metal extraction,
economy in the early modern era. this deposit still contains a world-class
silver and tin reserve (> 500 million
tonnes grading ~ 100 g/t Ag and
0.2% Sn; Bernstein, M., 1989).
* Source: National Instrument 43-101
| 11ISKA ISKA Porvenir Concession
The Iska Iska Porvenir
Concession is a road
accessible, royalty-free
property, (wholly-owned by the
Title Holder).
Located 48 km north of Tupiza
city, in the Sud Chichas
Province of the Department of
Potosi
Covers an area of 900 Ha.
(9 km2)
Sur Chichas
Province, Potosi
Bolivia
| 12ISKA ISKA Property Geology & Mineralization
Iska Iska is a major silver
polymetallic porphyry-
epithermal complex
associated with a Miocene
possibly collapsed/resurgent
caldera, emplaced on
Ordovician age rocks with
major breccia pipes, dacitic
domes and hydrothermal
breccias.
Mineralization age is similar
Preliminary
to Cerro Rico de Potosí and Geological
other systems such as San Map Iska Iska
Vicente, Chorolque and
Tatasi located in the same
geological trend.
| 13View of Main Area of Iska Iska
View of the Topography of the Iska Iska Main Area Looking North.
Property is readily accessible by road.
Underground workings provided excellent access for initial underground
drilling but all drilling is now being done from surface as a result of new
discoveries west of these workings.
| 14Initial Diamond Drilling Program Huayra Kasa
ISKA ISKA
Huayra Kasa Breccia
Pipe discovered in
November 2020 just
east of UG workings.
Two major breccia pipe
targets identified to the
west of the UG workings.
High grade Au-Bi zone
outlined underground
| 15Discovery of Second Major Pipe-
ISKA ISKA Santa Barbara Pipe
Drill Hole DHK-14 drilled
at -10 degrees to the SW
of Huayra Kasa workings
intersected almost 180m
of silicified & mineralized
breccia in the Santa
Barbara Breccia Pipe.
Hole ended in well-
mineralized breccia once
the drill reached its depth
capacity and only
penetrated approximately
50% of the breccia pipe.
Channel sampling at NW
end of Santa Barbara adit
returned 0.32 g Au/t,
26.90 g Ag/t, 1.16% Pb,
28.5 g In/t and > 500ppm
Sn along margin of pipe.
Santa Barbara Breccia Pipe is ~400m in diameter
| 16ISKA ISKA Santa Barbara Breccia Pipe
Highlights from recent drilling results:
• 129.60 g Ag eq/t over 257.5m (29.53g Ag/t,
0.078g Au/t, 1.45%Zn, 0.59%Pb, 0.080%Cu,
0.056%Sn, 0.0022%In, 0.0064%Bi and
0.0083%Cd) from 0.0m to 257.5m in hole DHK-15,
the deepest of the three holes reported within the
SBBP;
• 79.00 g Ag eq/t over 121.33m (21.77g Ag/t,
0.034g Au/t, 0.35%Zn, 0.23%Pb, 0.18%Cu,
0.056%Sn, 0.0011%In, 0.004%Bi and 0.0055%Cd)
from 0.0m to 121.33m in Hole DHK-14 within the
SBBP;
• 74.16 g Ag eq/t over 40.88m (33.43g Ag/t, 0.032g
Au/t, 0.04%Zn, 0.33%Pb, 0.13%Cu, 0.045%Sn,
0.0010%In and 0.0012%Bi) from 30.40m to 71.28m
in Hole DHK-13 which is within the approximately
100m wide mineralized envelope that surrounds
the breccia pipe. Santa Barbara Breccia Pipe
Hole DHK-15 231-237m
| 17ISKA ISKA Santa Barbara Breccia Pipe Discovery
| 18Geological Cross Section of Major
ISKA ISKA Breccia Pipes
Hole DSB-01 intersected 195m of
mineralized breccia in SBBP &
83m in CGP.
Hole DSB-02 intersected 216m of
mineralized breccia in SBBP &
332m of mineralized breccia with
porphyritic fragments in CGP.
Last 10 m in this hole contained a
5m long intersection of massive
sulphides - system is open at
depth.
Hole DSB-03 intersected 430m of
mineralized breccia in SSBP
including 50m of massive
sulphide from 302m to 352m.
SBBP.
| 19ISKA ISKA Massive Scale of Breccia Pipes
Drilling has confirmed a 400m wide diameter for the
Santa Barbara Breccia Pipe with a further 100m
mineralized envelope around the pipe for a total
effective mineralized diameter of 600m
Adjacent Central Breccia Pipe to the south has a
surface dimension of 400m by 700m
Hole DHK-02 intersected mineralized breccia in the
CBP to a depth of 475m below surface where it is
completely open.
It appears likely that the Santa Barbara and Central
Breccia Pipes may merge at depth.
Widespread tin mineralization suggests that we are
getting closer to the magnetic source.
Deeper holes are planned in both the SBBP and CBP
to further confirm the full extent of the pipes and to test
for mineralization at depth. Massive Sulphide
DSB-03 316-320m
| 20ISKA ISKA Major Suite of Metals
Hole DHK-15, the deepest hole in SBBP with assays
back, gives us our first picture of the true potential of
the Iska Iska system.
A whole suit of metals including Ag, Zn, Pb, Cu, Sn, In,
Bi and Cd are present, exactly the sort of assemblage
one would like to see in a prolific “Potosi-type”
deposit.
It appears we have an entirely preserved mineralizing
system of this type with lots of room to host a major
deposit.
Early indication of large size comes from hole DSB-02
which tells us that both the large SBBP and even larger
CBP appear to be strongly mineralized.
In just a few short months of drilling we have been able
to confirm that Iska Iska has the right metal-
assemblage, strong Ag-polymetallic grades and very
large size. Massive sulphide at bottom
of DSB-02 632m
| 21Potosi-like Metal Contents &
ISKA ISKA
Environment
Mineralization at Iska Iska defines a massive
porphyry-epithermal system hosted mainly in large
magmatic-hydrothermal breccia pipes, along with
Tertiary dacitic domes and Ordovician quartz
sandstone sequences.
This is a new geological environment for
polymetallic deposition in the southern Bolivian
Andes.
Regionally, in terms of metal contents Iska Iska is
comparable with neighbouring world-class
polymetallic systems including Cerro Rico de
Potosi, San Vicente, Chorolque and Tatasi.
These systems all of which have similar geological
environments, with the notable exception of the
large and remarkable mineralized breccia pipes at
Iska Iska.
Typical Central Breccia
DSB-02 570-577m
| 22DEPOSIT MODEL Conceptual
Silver Sand
Iska Iska is at a
comparable
stratigraphic level to
Cerro Rico de Potosi
| 23BOLIVIA Large Land Position in Iska Iska Area
Nine additional properties
(known as mining areas under
Bolivian law), covering a total of
311.75 km, recently acquired in
Iska Iska area
Properties are located on
property Aster anomalies with a
similar hydrothermal operation
signature to that of Iska Iska.
Targets on these properties
include:
- Polymetallic Ag, Pb, Zn
- Polymetallic Ag, Au, Pb, Zn
- Sn, W, Base metals
| 24ISKA ISKA Social & Community Engagement
A historical mining region that Eloro
Resources is committed to supporting.
• Supplies to the community during
Covid-19.
• Sponsorship of school and sports
No artisanal miners on the property with the
closest community being Tupiza 48 km away.
Environmental study and community
discussions currently underway.
Committed to Bolivian and local work force:
• On-site team is 100% Bolivian
• Actively training recent graduate
geologists and technical staff through our
intern program
| 25BOLIVIA Next Steps…
Eloro is proceeding with an aggressive
Diamond Drilling Exploration Program
Huayra Kasa Pipe and two other major Deeper drilling in progress to test
Breccia Pipes discovered in First phase breccia pipes at depth
UG/surface diamond drilling program
On January 5th, 2021 Eloro Resources Preliminary metallurgical tests to
closed CDN $6.3 million bought deal commence shortly
financing
Second phase of surface diamond drilling of Gradient IP survey to look for deeper
2 recently discovered major breccia pipes, porphyry Sn-Cu-Bi mineralization
Santa Barbara & Central now in progress
Ground magnetic and IP surveys to evaluate Objective is to outline a National
other potential breccia pipe targets for drill- Instrument 43-101 mineral resource in
testing Santa Barbara and Central Breccia pipes
STAY TUNED! | 26ISKA ISKA Conclusions
Eloro has the option to earn a Mineralization age is similar to
99% interest in the Iska Iska property Cerro Rico de Potosí and other
located in Bolivia’s prolific South Mineral polymetallic systems in Bolivia such
Belt which includes world-class deposits as Chorolque, Tasna and Choroma,
such as: Cerro Rico de Potosi, San located in the same geological trend.
Vicente, Chorolque and Tatasi.
Bolivia is now actively seeking There is widespread magmatic-
foreign investment to develop its hydrothermal mineralization with a
mining sector which is very silver polymetallic signature (Ag,
underdeveloped. Au, Zn, Pb, Cu, Sn, In, Bi and Cd)
related to major breccia pipes
Iska Iska is a major silver- The widespread presence of tin
polymetallic porphyry- suggests that we are getting close to the
epithermal complex associated magmatic source at the Santa Barbara
with a Miocene possibly and Central Breccia Pipes.
collapsed/resurgent caldera.
| 27APPENDIX
| 28Mineral Resources of Main Mines
APPENDIX
Operating/ Exploring in Bolivia
Mine / Company Regional Deposit Main Geology Mineral Stage
Project Geostructural Type Commodities and Mineralization Resource /
Unit Reserves &
Grades
4 km diameter caldera filled with volcaniclastic
rocks and intruded by a Miocene porphyritic sills
Epithermal 259 Mt; 62 g/t
Sumitomo and volcanic domes of dacitic to andesitic
San Cristobal Altiplano Intermediate Ag, Zn, Pb Ag; 1.57% Zn; Exploitation
Corp. composition. Silver-lead- zinc mineralization
Sulphide (IS) 0.55% Pb
subsequently was deposited in both the
volcaniclastics and the dacitic intrusions
Basement Ordovician to Silurian clastic marine
rocks and locally Cretaceous continental rocks are
COMIBOL/
San Eastern “Bolivian-type” overlain by a thick sequence of middle Miocene
Argentum Ag 15 Mt; 76 g/t Ag Exploitation
Bartolome Cordillera polymetallic volcanic and volcaniclastic rocks. Ore in
Investments
colluviums are composed of disseminated silver in
silicified rhyodacite
Mineralization is hosted in Tertiary continental
9 Mt; 300 g/t
conglomerates that discordantly overlie
Ag;
COMIBOL/Pan Ordovician shales and sandstones.
Eastern “Bolivian-type” Ag, Zn, Pb, 3% Zn;
San Vicente American The argentiferous mineralization shows common Exploitation
Cordillera polymetallic Cu, Sn 0.4% Pb;
Silver bonanza zones, as well as an area of massive
0.3 % Cu;
tabular mineralization, hosted in silicified shear
0.3 % Sn
zones that can reach 60 m in width
The deposit is underlain by Tertiary conglomerates,
COMIBOL /
rhyolitic tuffs, andesitic flows, dacitic and quartz-
Prophecy 50 Mt; 450
Pulacayo Altiplano Epithermal IS Ag latitic domes, and rhyolitic and andesitic porphyries Exploration
Development g/t Ag
that host veins filled with quartz, barite, pyrite, Zn-
Corp.
and Pb-bearing sulfides, and Ag sulfosalts
Silver mineralization is hosted by zones of
sheeted veinlets, stockwork veinlets, crackle
COMIBOL/ Eastern “Bolivian-type” veins and breccia zones in brittle fractures in Nd; approx.
Silver Sand Ag Exploration
New Pacific Cordillera polymetallic quartz arenites or sandstones of Cretaceous 200 g/t Ag
rocks. Mineralized fractures could extend
downward for more than 200 metres
Sources for Mineral Resources: Minera San Cristobal (2009); Coeur D’alene (2010); Panamerican Silver (2014); Prophecy Dev. Corp. (2017); New Pacific (2019) | 29Summary of Geology and Exploration Targets,
ISKA ISKA New Properties Iska Iska Area, Bolivia
No. Name Sq. Km Geological Description Target
SE part of the Early Miocene resurgent Kari Kari caldera. It is filled with welded ignimbrites and ash flows from
1 Puna 22 8-5 Ma. Comprises a Complex fault system of N-S, NNE-SSW and E-W directions that are filled with Sn, W and Sn, W, Base Metals
base metal mineralization. Main alteration products are silicification and highly altered Fe minerals.
Subvolcanic dacites and andesites hosting Ag, Pb and Zn mineralization. Basement is the Silurian Llallagua
Khuchu
2 17 Formation sandstone. The neighboring area is composed of wide and long veins hosting enriched mineralized Polymetallic Ag, Pb, Zn
Ingenio
pockets. Main hydrothermal alterations are sericitization and argillization.
The claim area is composed of mainly siliciclastic sediments of Silurian age that comprises diamictites, shales,
3 Tomave 125 slates, sandstones and quartzites. They are likely to host both high temperature tin, and late stage Ag, Zn and Polymetallic Ag, Zn, Pb
Pb mineralization. Hydrothermal alterations are silicification, sericitization, argillization and propylitization.
Atocha Tertiary volcanics extruding Silurian sediments, mineralization occurs in both rocks and are composed of veins,
4 23.75 Polymetallic Zn, Pb, Ag, Au
Florida stockworks and veinlets hosting Zn-Pb-Ag. Main alteration products are sericitization and advanced argillization.
Polymetallic (Ag, Pb, Zn) mineralization associated with a collapsed caldera, which consists of pyroclastic rocks,
5 Atocha 38 flows, volcanic domes, and dacitic to andesitic dikes. Hydrothermal alterations are sericitization and advanced Polymetallic Ag, Pb, Zn, Au
argillization.
Includes a remarkable circular feature that outlines a structural basin in Ordovician sedimentary rocks, covering
an area of about 16 km2 (4 x 4 km) and a neighboring southern extension of about 9 km long by
6 Tup 3 18.5 5 km wide, in which several hydrothermal alteration types are present on the processed satellite imagery. Sn, Base metals
Hydrothermal alteration consists of carbonatic, argillic and sericitic alterations along with minor illite, Fe oxide,
chlorite and kaolinite.
Rocks are mostly sedimentary, although some volcanics also probably occur in the vicinity. The main geological
feature corresponds to a N-S regional fault located in the center of the property that appears to control
7 Tup 4 5.5 Polymetallic Ag, Pb, Zn, Au
mineralization in the zone. Intense alteration zones composed of abundant sericite, argillic and kaolinite and
minor illite, chlorite, Fe oxide and carbonates.
Ordovician sandstones and shales within an eastern extension of an intrusion. Main alteration products are
8 Tup 5 10.25 Sn, Base Metals
jarositization, argillization and sericitization.
Possible collapsed volcano with resurgent eroded dacite domes and lava flows that are hosting a probably
9 Pajchi 42.75 polymetallic mineralization composed of a high temperature tin mineralization overlapped by Ag-Zn-Pb Polymetallic Ag-Zn-Pb, Au
mineralization. Hydrothermal alteration types are argillization, strong oxidation, and sericitization.
See Figure 1 for locations
Au=gold, Ag=silver, Zn=zinc, Pb=lead, Sn=tin, W=tungsten
|30TSXV ELO | FSE P2Q
OTCQX: ELRRF
CANADA BOLIVIA
TOM LARSEN DR. OSVALDO ARCE Ph.D., P.Geo.
CEO General Manager,
Minera Tupiza S.R.L.
JIMENA MORAN
Executive Assistant - Bilingual Tel: +59 171 591-004
Toll Free: 1 800 360-8006
Tel: 1 416 868-9168
20 Adelaide Street East, Suite 200
Toronto, Ontario, Canada M5C 2T6
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