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Original-Research: Eloro Resources Ltd. - von Sphene Capital GmbH
Einstufung von Sphene Capital GmbH zu Eloro Resources Ltd.
Unternehmen: Eloro Resources Ltd.
Anlass der Studie: Update Report
Kursziel: CAD 16,20 (adjusted by new number of shares) Kursziel auf Sicht von: 24 Monate
Letzte Ratingänderung: -
Analyst: Peter Thilo Hasler
Multiple intersections with high-grade sections discovered
This week, Eloro Resources announced assay results from two more diamond drill holes from its ongoing drilling programme at the Iska Iska silver-tin polymetallic project in the Potosi Department, South Bolivia. One hole tested the extension of the core of the high-grade feeder zone at Santa Barbara, a second tested the potential south-western limits of the high-grade feeder zone. Once again, several significant intercepts were discovered, including intervals of up to 211.34 g Ag eq/t (over 6.02 m), according to the company. With an immaculate 100% track record of holes drilled that intersected reportable mineralization, we reiterate our Buy rating for Eloro Resources and calculate a fully diluted share price target of CAD 16.20 (previously CAD 16.90, adjusted by the new number of shares), derived from an in-situ valuation of Iska Iska’s Santa Barbara Breccia Pipe. We consider the recent pullback in the company’s stock price (during a general weak environment for explorer stocks), as an attractive entry point for investors, as Eloro Resources is now ideally positioned and fully financed, in our view, to aggressively advance its current portfolio of development projects. Should the company be able to finally make a discovery and eventually delineate a mineral resource at Iska Iska, we believe the share price could quickly re-rate towards our price target.
Eloro Resources has released assay results from two more diamond drill holes from the Iska Iska silver-tin polymetallic project. Hole DSB-36, drilled 400 m southeast of the Santa Barbara adit, again returned significant results. Mineralisation ranged from 211.34 g Ag eq/t over 6.02 m to 180.29 g Ag eq/t over 24.13 m. According to the company, 52% of the hole contained reportable intercepts, which together averaged 112.48 g Ag eq/t.
To date, the company has completed 79,258 m in 118 drill holes at Iska Iska. The latest assay results confirm our assessment that the high-grade feeder zone extends further across the valley of the Iska Iska caldera than previous geophysical surveys have indicated (see exhibit 1). For example, drill hole DSB-36 has extended the strike length by a further 400 m to the south-southeast, with no apparent end to the strike. Currently, two laboratories are analysing drill cores with a length of approximately 14,213 m. Since the turnaround times of the mandated laboratories have shortened considerably after the Corona pandemic subsided, we expect that most of the backlog will be processed by the end of November. With that, we expect the newsflow to remain steady.
Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/25639.pdf
Kontakt für Rückfragen
Peter Thilo Hasler, CEFA
+49 (89) 74443558/ +49 (152) 31764553
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