Eloro Resources Ltd. ("Eloro") reports that Monarques Resources Inc. ("Monarques") earlier today announced anomalous silver (Ag) concentrations from re-assayed sample pulps from the Simkar Gold Project, in which it holds a 57% interest with Eloro holding the remaining 43% interest, pursuant to a previously announced joint venture agreement with Eloro.
A total of 212 original sample-pulps from previously analyzed high gold-grade samples were re-assayed for silver after an initial series of 599 assays from the 2013 drilling programme returned encouraging grades of up to 2.40 g/t Ag (see Eloro's February 5, 2014 press release).
Most of the repeat assays returned silver contents of less than 1.00 g/t, suggesting that there is no correlative association between gold and silver content in the core; however, an interval from Hole SK13-19, which had previously returned a grade of 0.64 g/t Au over 4.00 m, yielded a silver grade of 17.60 g/t
Simkar Gold Project
The Simkar property (the "Property") is located 20 kilometres east of Val-d'Or, Quebec, just north of the Cadillac-Larder Lake Break, in the Abitibi Greenstone Belt, and is host to a previously mined, gold-bearing, fault-fill and extensional quartz vein system, characteristic of nearby gold deposits in the Val-d'Or Gold Mining Camp.
The Property hosts a gold-bearing, fault-fill and extensional quartz vein system, characteristic of nearby gold deposits in the Val-d'Or Gold Mining Camp. As exploration activities on the Property have advanced, similarities between the gold mineralization at Simkar and that of the shear-zone associated gold deposit at the well-studied Sigma Mine in Val-d'Or, continue to be recognized.
Martin Bourgoin (P.Geo.), Executive Vice President Exploration for Eloro, and a qualified person (QP) under National Instrument 43-101, has approved the content of this release.
About Eloro Resources Ltd.
Eloro Resources is an exploration and mine development company with a portfolio of gold and base-metal properties in northern and western Quebec. The Company is focussed on expanding the historic gold resources at the past-producing Simkar Mine with the objective to outline quality gold resources in the established Val-d'Or Gold Mining Camp. Eloro also recently entered into an agreement granting it an option to acquire a 50% interest in La Victoria property, located in the North-Central Mineral Belt of Peru.
Source: http://www.elororesources.com