Posted in | Mining Business

Eloro Resources Offers Update on Ongoing Process to Bring San Markito Zone into Exploration and Discovery Focus

Eloro Resources Ltd. takes great pleasure in offering an update on the process underway to introduce the San Markito Zone to an exploration and discovery focus.

On May 19th, 2019, a meeting was conducted with the people of the community of Pallasca, Pallasca District, Ancash Department, Peru, where the San Markito target is situated, at which representatives from Eloro and the Peruvian Ministry of Mines offered seminars about the economic advantages of mineral exploration and mining.

The Huandoval mayor also lectured avidly about the optimistic economic effect in his district during Eloro’s 2017–2018 drilling campaign. Eloro’s in-country technical group was readily available at the meeting to describe features of the program with respect to its water usage and minimal environmental footprint.

The information was perceived well by the community members and the majority of opponents from earlier meetings are now in support of renting the requested community land of the San Markito Zone to the Corporation’s Peruvian subsidiary so that Eloro can continue with a drilling campaign. Furthermore, a decision was taken that an environmental monitoring committee and a negotiation committee would be set up on June 9th, 2019, thus indicating the community’s interest to work with Eloro.

Next Steps

Once both parties are contented with the land rental contract terms, a general assembly would be assembled to communicate the contract’s details to the community, and then the community members would cast their vote on the proposal. It will be necessary to obtain a minimal majority in order to rent the required land.

Since Eloro already possesses an archaeological certificate, an approved environmental instrument, and a water permit from the relevant authorities, the pending approved land rental contract is the final prerequisite the Corporation needs to receive the drilling permit.

We are pleased with the progress we are making with the local community and we are optimistic about being in position to resume exploratory drilling and testing the San Markito target this summer.

Mr Tom Larsen, CEO, Eloro Resources Ltd

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