🕐09.12.14 - 13:54 Uhr
ELORO RESOURCES REPORTS ON DISCOVERY OF POLYMETALLIC BOULDERS BY VISIBLE GOLD MI
NES IN LAC HENRI AREA
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Press Release
For Immediate Release
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Eloro Reports on Discovery of Polymetallic Boulders by Visible Gold Mines in Lac
Henri Area
Toronto, Canada, December 9, 2014 - Eloro Resources Ltd.
(TSX-V: ELO; FSE: P2Q)
("Eloro") reports that Visible Gold Mines Inc.
has recently announced the discovery
of numerous metal-rich boulders immediately adjacent to Eloros Lac Henri property
in the Otish Mountains area of north central Québec.
High-grade gold-, silver-, copper-, and zinc-bearing boulders have been discovered
near kilometre-markers KM105, KM107, KM147 and KM150 along provincial Route 167,
which has been recently upgraded as part of Québecs "Plan Nord" to develop infrastructure
in the provinces northern regions.
The KM150 discovery area is immediately adjacent to Eloros Lac Henri prospect,
which comprises 7 contiguous claims along Route 167, from approximately KM150 to
KM153 (see Figure below and Eloro website at www.elororesources.com
for further information on the Lac Henri prospect).
Work carried out in 2007 and
2008 by Icon Industries Limited, under an option agreement with Eloro, shows that
strong magnetic response signatures, bounded by regional faults, strike northeast
from the boulder field into the Lac Henri claims1,2.
Route 167 was originally constructed as a haulage road between Chibougamau and the
currently inactive Eastmain Gold Mine (kilometre marker KM175).
This all-season
road was recently upgraded and extended north to facilitate access to Stornoway
Diamond Corporations Renard Project - Québecs first diamond mine.
Road construction
was completed in October of 2014, at a cost of approximately $350 million dollars.
The upgrade to Route 167 and the recent discoveries by Visible Gold Mines Inc.
have
re-awakened interest in the area, which remains highly prospective for gold, base-metal
and platinum group elements, as well as diamondiferous kimberlites.
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.
1 St-Hilaire, C., 2007.
High Resolution Aeromagnetic and Gamma-ray Spectrmetric Survey: Lac Henri Property
- Otish Mountains Area Northern Quebec (GM63998).
2 Coates, B., 2009.
Lac Henri Property, Otish Mountains Area Northern Quebec, Diamond-Drill Program,
Summer 2008 (GM64750)
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About Eloro Resources Ltd.
Eloro Resources is an exploration and mine development company with a portfolio
of gold and base-metal properties in Peru and northern and western Quebec.
The Company
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.
For further information please contact Jorge Estepa, Vice-President at (416) 868-9168.
Information in this news release may contain forward-looking information.
Statements
containing forward-looking information express, as at the date of this news release,
the Companys plans, estimates, forecasts, projections, expectations, or beliefs
as to future events or results and are believed to be reasonable based on information
currently available to the Company.
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 its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy or accuracy of
this release.
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