on The Market Herald (CVE:ELO)
Eloro Resources Ltd. Initiates Major Drilling Program in Bolivia
Eloro Resources Ltd. is launching a significant 40,000-meter drill program at its Iska Iska silver-tin polymetallic project in Bolivia. This development follows a research update report from Sphene Capital GmbH, which has upgraded the price target for Eloro to CAD 21.80, marking a substantial improvement from the previous target of CAD 14.10, reflecting heightened commodity prices.
The new drilling initiative, in collaboration with Major Drilling Group International, represents the first contract in Bolivia since a recent government transition. The program aims to expand the resource footprint and test additional mineral targets. Financing has been secured through a private placement of shares, raising gross proceeds of CAD 15 million, intended to support the drilling and subsequent economic assessment studies.
R. H.
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