Eloro Resources Provides San Markito Silver/Gold Zone Update
Eloro Resources Provides San Markito Silver/Gold Zone Update
Toronto, Canada, December 16, 2019 – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2QM) (“Eloro” or the
“Corporation”) is pleased to announce that community elections in Pallasca, Ancash Department, Peru have
been completed where a new President was elected. Elor o looks forward to working with the new President
and the community in order to implement its plan to bring employment and benefits to the community in
connection with the exploration of the San Markito Silver/Gold Zone.
The La Victoria Gold/Silver Project in north central Peru is one of the largest concession packages in the
Northern Peru Mineralized Belt, which hosts such stalwart operations as Yanacocha, owned by Newmont and
Buenaventura; Lagunas Norte, owned by Barrick Gold and La Arena, owned by Pan American Silver. The
project totals approximately 89 square km in size and covers five districts in the Ancash Department, Peru.
The Huandoval District is where the Rufina Zone is located and is where Eloro’s 2017-2018 reconnaissance
drilling project took place. The drill program returned drill results which included 0.62 g/t gold over 59.9m and
7.1 g/t over 3.4m as well as 0.68 g/t gold over 21.8m (see Eloro News Release dated March 11, 2019). The
benefits that accrued to the local Huandoval community as well as t he communities of Huacaschuque and
Pallasca and the community goodwill which resulted were in large part respons ible for the Company being
awarded the Business of the Year for 2019. This award goes annually to “the Canadian or Peruvian
organization that has shown great commitment to the development of Peruvian/Canadian relationships and a
high degree of success in the areas of Management and Social Responsibility” (see Eloro News Release dated
February 6, 2019).
The San Markito Gold/Silver Zone is located in the Pallasca District, and has been the subject of surface
exploration for several years. Surface sampling returned silver and gold values of 994 g/t Ag with 0.35 g/t Au
in a continuous diamond saw channel sample over 4.00m and 390 g/t Ag with 0.53 g/t Au over 1.53m. This
further confirms previous sampling which returned valu es up to 2.27 g/t Au and up to 1,814 g/t Ag. The silver
anomaly in the San Markito area extends over 1.5 km in strike length. As in the Rufina Sector, gold and arsenic
are positively correlated; and San Markito adds a positive correlation between silver and lead.
Eloro CEO Mr. Tom Larsen, said, “We congratulate the new Pallasca community council and look forward to
working with them in connection with our San Markito Zone exploration program. We believe Pallasca can
benefit from the same degree of investment and community support as did the community of Huandoval during
the Rufina Sector drill program, and in fact, as well as all five districts since area investment started in earnest
in 2012.”
About Eloro Resources Ltd.
Eloro is an exploration and mine development company wi th a portfolio of gold and base-metal properties in
Peru and Quebec. Eloro owns an 82% interest in the La Victoria Gold/Silver Project (EHR Resources Ltd. -
ASX: EHX - owns the remaining 18% interest), located in the North-Central Mineral Belt of Peru some 50 km
south of Barrick's Lagunas Norte Gold Mine and Pan American Silver Corp.'s La Arena Gold Mine. La Victoria
consists of eight mining concessions and eight mi ning 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 le vel. In Quebec, Eloro owns a 100% interest in the
Delta-Eastmain Project some 100 km south of Goldcorp’s Eleonore Mine, which encompasses some 96 claim
units covering approximately 86 square km.
20 Adelaide Street East, Suite 200, Toronto, Ontario CANADA M5C 2T6 Tel.: (416) 868-9168 Fax: (416) 361-1333
TSX.V Symbol: ELO www.elororesources.com
For further information please contact Jorge Estepa, Vice-President of Eloro Resources Ltd. at (416)
868-9168.
Information in this news release may contain forward-look ing information. Statements c ontaining forward-looking
information express, as at the date of this news release, the Corporation's plans, estima tes, forecasts, projections,
expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently
available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual
results and future events could differ materially from those anticipated in such statements. Readers should not place undue
reliance on forward-looking information. Neither the TSXV nor it s Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Jim Steel MBA, P.Geo. is the Qualified Person under NI 43-101 and has reviewed and approved the technical
content of this news release.