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Eloro Resources Channel Sampling Returns 103M Strike Length Grading 521 Ag Eq/t (Including 117 g Ag/t, 1.44 Au Eq/t, 0.54% Cu and .66% Sn) at Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

Table 1

Significant Diamond Drilling Results, Iska Iska, as at November 17, 2021
Significant Diamond Drilling Results, Iska Iska, as at November 17, 2021
Significant Diamond Drilling Results, Iska Iska, as at November 17, 2021

Table 2

Channel Sampling Results, Porco Adit. Note that the samples are continuous channel samples across the vein structures as shown in Figure 2 below. The “From” and “To” distances are the area of influence for each sample used in the weighted average grade calculation.
Channel Sampling Results, Porco Adit. Note that the samples are continuous channel samples across the vein structures as shown in Figure 2 below. The “From” and “To” distances are the area of influence for each sample used in the weighted average grade calculation.
Channel Sampling Results, Porco Adit. Note that the samples are continuous channel samples across the vein structures as shown in Figure 2 below. The “From” and “To” distances are the area of influence for each sample used in the weighted average grade calculation.

Figure 1

Geology of the Iska Iska Caldera Complex showing locations of Major Breccia Pipe targets, the Santa Barbara Resource Definition Target Zone and diamond drill holes completed, in progress and planned. Drill holes for which assays are reported in this release and the location of the Porco adit are highlighted. Locations of Sections in Figure 3 (A-A’) and Figure 5 (B-B’) are also shown.
Geology of the Iska Iska Caldera Complex showing locations of Major Breccia Pipe targets, the Santa Barbara Resource Definition Target Zone and diamond drill holes completed, in progress and planned. Drill holes for which assays are reported in this release and the location of the Porco adit are highlighted. Locations of Sections in Figure 3 (A-A’) and Figure 5 (B-B’) are also shown.
Geology of the Iska Iska Caldera Complex showing locations of Major Breccia Pipe targets, the Santa Barbara Resource Definition Target Zone and diamond drill holes completed, in progress and planned. Drill holes for which assays are reported in this release and the location of the Porco adit are highlighted. Locations of Sections in Figure 3 (A-A’) and Figure 5 (B-B’) are also shown.

Figure 2

Plan Map of Channel Sampling, Porco Adit.
Plan Map of Channel Sampling, Porco Adit.
Plan Map of Channel Sampling, Porco Adit.

Figure 3

Longitudinal Section Showing the Inverse Model of Magnetic Susceptibility. Susceptibility Highlights Major Targets and Geological Features. The location of this Section A-A’ is shown in Figure 1.
Longitudinal Section Showing the Inverse Model of Magnetic Susceptibility. Susceptibility Highlights Major Targets and Geological Features. The location of this Section A-A’ is shown in Figure 1.
Longitudinal Section Showing the Inverse Model of Magnetic Susceptibility. Susceptibility Highlights Major Targets and Geological Features. The location of this Section A-A’ is shown in Figure 1.

Figure 4

3D Magnetic Inversion Model Showing Location of Drill Hole DPC-01. Note how Hole DPC-01 just clips the 3D inversion model shown where the drill hole trace is red.
3D Magnetic Inversion Model Showing Location of Drill Hole DPC-01. Note how Hole DPC-01 just clips the 3D inversion model shown where the drill hole trace is red.
3D Magnetic Inversion Model Showing Location of Drill Hole DPC-01. Note how Hole DPC-01 just clips the 3D inversion model shown where the drill hole trace is red.

Figure 5

Cross Section Looking North of Magnetic Inversion Model Showing Location of Drill Hole DPC-01. The Magnetic High to the Northwest of the Hole is a Priority Target for Drill Testing. The location of this section B-B’ is shown in Figure 1.
Cross Section Looking North of Magnetic Inversion Model Showing Location of Drill Hole DPC-01. The Magnetic High to the Northwest of the Hole is a Priority Target for Drill Testing. The location of this section B-B’ is shown in Figure 1.
Cross Section Looking North of Magnetic Inversion Model Showing Location of Drill Hole DPC-01. The Magnetic High to the Northwest of the Hole is a Priority Target for Drill Testing. The location of this section B-B’ is shown in Figure 1.
  • Drill hole DPC-01 on the edge of a major magnetic susceptibility anomaly in the Porco Breccia Pipe area returned sixteen (16) separate zones of sulphide veins including 110.30 g Ag eq/t over 3.0m.
  • Magnetic inversion model outlines extensive target zone in the Porco-Central Breccia Pipe areas.

TORONTO, Nov. 17, 2021 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to provide an update on its Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. To date, the Company has completed 35,738 metres (m) in 68 drill holes including three (3) in progress to test major target areas at Iska Iska. This press release reports drilling results from one (1) additional hole which tested the Porco Breccia Pipe (“PBP”) (Hole DPC-01) and new underground channel sampling from the Porco adit located approximately 200m south of the PBP. Currently three drill rigs are in operation at Iska Iska. Two surface drill rigs are continuing to drill at the Santa Barbara Resource Definition Target Zone (Figure 1) to outline an initial National Instrument 43-101 (“NI-43-101”) compliant resource. A third drill, an underground rig, situated in the west end of the Santa Barbara Adit, is testing the eastern part of Santa Barbara Breccia Pipe (“SBBP’) and its mineralized envelope. Figure 1 is a geological plan map showing locations of drill holes completed, in progress and planned to complete resource definition drilling along with an updated geological interpretation. Figure 2 is a plan map of channel sampling at the Porco adit. Table 1 provides significant drilling results with definitions of chemical symbols, Table 2 details channel sample results from the Porco adit and Table 3 lists holes completed with assays pending, as well as holes in progress in the three major target areas. Highlights include:

Porco Adit

  • Channel sampling in the Porco adit returned 521.33 g Ag eq/t (including 117.10 g Ag/t, 1.44 g Au/t, 0.54% Cu and 0.66% Sn) over a 103m strike length with an average channel width of 1.8m as shown in Figure 2 and Table 2. Mineralization in the Porco adit is hosted in a series of veins, veinlets, stockworks and disseminations in Ordovician quartz sandstone. The veins are parallel to and crosscutting the drift. In the western part of the drift veins are primarily sulphide-bearing whereas those in the eastern half are primarily oxide. Eloro believes mineralization at the Porco adit is sourced from a large underlying porphyry system as evidenced by recently acquired magnetic susceptibility data.

Porco Breccia Pipe

  • Hole DCP-01 drilled due west at -65 degrees from the Porco radial platform intersected sixteen (16) separate zones of quartz-tourmaline veins in granodioritic intrusive breccia with best results of 110.30 g Ag eq/t over 3.0m, 67.08 g Ag eq/t over 6.0m including 168.25 g Ag eq/t (25.0 g Ag/t, 1.31% Zn, 0.32% Pb and 0.25% Sn) over 1.54m, 131.16 g Ag eq/t (18 g Ag/t, 0.54% Cu and 0.31% Bi) and 80.66 g Ag eq/t over 3.0m (0.23% Sn).

Figure 3 is a longitudinal section (A-A’ in Figure 1) showing the inverse model of magnetic susceptibility which highlights major targets and geological features. Figure 4 is a 3D view of the inversion model showing that Hole DPC-01 just clipped the edge of a very strong and extensive magnetic susceptibility anomaly below and to the northwest of the PBP. The strongest part of the anomaly, as shown in Figure 5, a cross section along drill hole DPC-01 (B-B’ in Figure 1), is located just to the northwest of this hole in the very prospective gap area between the Central Breccia Pipe and the PBP (see Figure 1). Further drilling is planned to test this target once definition drilling at the Santa Barbara Resource Definition Target Zone is completed.

Definition Drilling Santa Barbara Target Area

Definition drilling is continuing in the Santa Barbara Resource Definition Target Zone as shown in Figure 1. Currently a series of SW-NE sections at approximately 100m intervals are being completed with holes drilled on each section at -40 degrees and –65 degrees to provide coverage over the full target strike length of 1,400m. Underground drilling is continuing in the Santa Barbara adit to evaluate the resource potential in the mineralized envelope east of the SBBP. It is anticipated that the definition drilling program will be completed by early December. Drilling will then refocus on exploration of the major magnetic targets in the Central-Porco target area as outlined above.

Dr. Bill Pearson, P.Geo., Eloro’s Executive Vice President Exploration, added: “The magnetic data have proven invaluable in outlining the overall extent of the massive porphyry-epithermal system at Iska Iska. The higher-grade mineralized zones at Iska Iska tend to be magnetic hence the areas with high magnetic response are very prospective targets. Our geophysical team is also currently processing the downhole IP data from the Santa Barbara Resource Definition Target Zone which should help to better define the overall extent of mineralization especially zones with higher sulphide content which are generally higher grade.”

Dr. Osvaldo Arce, P.Geo., General Manager of Eloro`s Bolivian subsidiary, Minera Tupiza S.R.L. (“Minera Tupiza”), said: “The mineralization in the Porco adit is interpreted to be the lower part of the high sulphidation epithermal system which is likely connected to a major tin porphyry at depth as suggested by the extensive magnetic susceptibility anomaly. The intersections in Hole DPC-01 which are most abundant where this hole clipped the magnetic susceptibility anomaly are tin-rich supporting this conclusion. Our work continues to expand the remarkable mineralized system at Iska Iska which has now been shown to be at a district-scale.”

Dr. Quinton Hennigh, P.Geo., Eloro’s Senior Technical Advisor, commented: “The return of impressive polymetallic grades from the Porco adit confirm that the Iska Iska mineral system extends a remarkable 2.5 km from north to south. Metal endowments display notable zonation along this corridor from Ag-Zn-Pb-rich in the north to Ag-Sn-rich in the middle to Ag-Sn-Cu-Au-rich in the south. This is likely a reflection of proximity to the underlying source porphyry believed to be situated along the southern margin of the caldera complex as evidenced by recently collected magnetic data. The southern part of the Iska Iska system shows great potential for further discovery. It will be exciting to see drilling resume in this area.”

Table 1: Significant Diamond Drilling Results, Iska Iska, as at November 17, 2021: https://www.globenewswire.com/NewsRoom/AttachmentNg/09ba03c4-1872-4fcc-b36f-183db890eeb9

Note: True width of the mineralization is not known at the present time, but based on the current understanding of the relationship between drill orientation/inclination and the mineralization within the breccia pipes and the host rocks such as sandstones and dacites. It is estimated that true width ranges between 70% and 90% of the down hole interval length but this will be confirmed by further drilling. Percentage metal contents are shown for each element.

Chemical symbols: Ag= silver, Au = gold, Zn = zinc, Pb = lead, Cu = copper, Sn = tin, Bi = bismuth, Cd = cadmium and g Ag eq/t = grams silver equivalent per tonne. Quantities are given in percent (%) for Zn, Pb Cu, Sn, Bi and Cd and in grams per tonne (g/t) for Ag, Au and Ag eq.

Metal prices and conversion factors used for calculation of g Ag eq/t (grams Ag per grams x metal ratio) are as follows:

ElementPrice (per kg)Ratio to Ag
Ag$875.001.00000
Sn$28.000.03200
Zn$2.800.00320
Pb$2.100.00240
Au$57,40065.6000
Cu$8.800.01006
Bi$12.760.01458
In$305.000.34857
Cd$5.500.00629


In calculating the intersections reported in this press release a sample cutoff of 30 g Ag eq/t was used with generally a maximum dilution of 3 continuous samples below cutoff included within a mineralized section unless more dilution is justified geologically.

The equivalent grade calculations are based on the stated metal prices and are provided for comparative purposes only, due to the polymetallic nature of the deposit. Preliminary metallurgical tests are in progress to establish levels of recovery for each element reported but currently the potential recovery for each element has not yet been established. While there is no assurance that all or any of the reported concentrations of metals will be recoverable, Bolivia has a long history of successfully mining and processing similar polymetallic deposits which is well documented in the landmark volume “Yacimientos Metaliferos de Bolivia” by Dr. Osvaldo R. Arce Burgoa, P.Geo.

Table 2: Channel Sampling Results, Porco Adit. Note that the samples are continuous channel samples across the vein structures as shown in Figure 2 below. The “From” and “To” distances are the area of influence for each sample used in the weighted average grade calculation: https://www.globenewswire.com/NewsRoom/AttachmentNg/ffa132a4-09de-4092-979e-00adafdc0f7c

Table 3: Summary of Diamond Drill Holes Completed with Assays Pending and Drill Holes in Progress at Iska Iska from November 17, 2021 press release.

Hole No.TypeCollar EastingCollar NorthingElevAzimuthAngleHole Length m
Surface Drilling Northwest Extension Santa Barbara
DSB-12S205072.77656867.54165.0225-40806.2
DSB-13S205072.77656867.54165.0225-60696.5
DSB-14S205283.07656587.24175.0225-65968.5
DSB-15S204973.17657053.84165.0225-40731.2
DSB-16S204973.17657053.84165.0225-65862.0
DSB-17S7656765.4205131.34173.0225-40841.0
DSB-18S7656676.3205207.14175.0225-40890.4
DSB-19S7656676.3205207.14175.0225-65803.3
DSB-20S7656765.4205131.34173.0225-65896.5
Subtotal7,495.6
DSB-21S7657138.0204870.04135.0225°-40In progress
DSB-22S7657208.4204799.44145.0225°-40In progress
Underground Drilling Santa Barbara Adit
DSBU-1UG205285.27656074.84165.090-10260.5
DSBU-2UG205285.27656074.84165.0270-20563.6
DSBU-3UG205285.27656074.84165.0270-20443.5
DSBU-4UG205285.27656074.84165.0180-20570.0
Subtotal1,837.6
DSBU-5UG7656074.8205285.24165.00°-40In Progress
Central Breccia Pipe – Surface Radial Drill Program – North Setup
DCN-06S204902.07655860.04420.0180-80626.4
DCN-07S204902.07655860.04420.0270-60680.4
Subtotal1,306.8
Central Breccia Pipe – Surface Radial Drill Program – South Setup
DCS-04S204852.17655612.34429.7180-60644.4
Subtotal644.4
Porco Central – Surface Radial Drill Program
DPC-02S205457.27655110.94175.0225-60908.2
DPC-03S205457.27655110.94175.0135-60524.5
DPC-04S205457.27655110.94175.00-60371.4
DPC-05S205457.27655110.94175.090-60407.5
DPC-06S205457.27655110.94175.0243-60716.4
Subtotal2,928.0
TOTAL14,212.4


S = Surface UG=Underground; collar coordinates in metres; azimuth and dip in degrees. Total drilling completed since the start of the program on September 13, 2020, is 35,738 m in 68 holes including 3 holes in progress (23 underground holes and 45 surface holes).

Figure 1: Geology of the Iska Iska Caldera Complex showing locations of Major Breccia Pipe targets, the Santa Barbara Resource Definition Target Zone and diamond drill holes completed, in progress and planned. Drill holes for which assays are reported in this release and the location of the Porco adit are highlighted. Locations of Sections in Figure 3 (A-A’) and Figure 5 (B-B’) are also shown: https://www.globenewswire.com/NewsRoom/AttachmentNg/153d2784-8eef-45ad-abca-d05860e6cb2a

Figure 2. Plan Map of Channel Sampling, Porco Adit: https://www.globenewswire.com/NewsRoom/AttachmentNg/1f3d819b-bad5-45f4-a0bf-171621ea6632

Figure 3. Longitudinal Section Showing the Inverse Model of Magnetic Susceptibility. Susceptibility Highlights Major Targets and Geological Features. The location of this Section A-A’ is shown in Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/4eb5b907-2b81-4785-8f51-6dd3f8c676ac

Figure 4: 3D Magnetic Inversion Model Showing Location of Drill Hole DPC-01. Note how Hole DPC-01 just clips the 3D inversion model shown where the drill hole trace is red: https://www.globenewswire.com/NewsRoom/AttachmentNg/e7ed3ee0-17d6-479d-b080-6cecb3edca1a

Figure 5. Cross Section Looking North of Magnetic Inversion Model Showing Location of Drill Hole DPC-01. The Magnetic High to the Northwest of the Hole is a Priority Target for Drill Testing. The location of this section B-B’ is shown in Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/2aca4daf-333a-44b4-b158-d285dd976b82

Qualified Person

Dr. Osvaldo Arce, P. Geo., General Manager of Minera Tupiza, and a Qualified Person in the context of NI 43-101, has reviewed and approved the technical content of this news release. Dr. Bill Pearson, P.Geo., Executive Vice President Exploration Eloro, and who has more than 45 years of worldwide mining exploration experience including extensive work in South America, manages the overall technical program working closely with Dr. Arce. Dr. Quinton Hennigh, P.Geo., Senior Technical Advisor to Eloro and Independent Technical Advisor, Mr. Charley Murahwi P. Geo., FAusIMM of Micon International Limited are regularly consulted on technical aspects of the project.

Drill samples are prepared in ALS Bolivia Ltda’s preparation facility in Oruro, Bolivia with pulps sent to the main ALS Global laboratory in Lima for analysis. As announced in the February 26, 2021 press release, Eloro has changed the assay protocol to utilize X-ray fluorescence (XRF) to more accurately analyze higher tin. Tin in the CBP is suspected to occur as cassiterite which is insoluble in acid digestion, and therefore not suited for wet chemical techniques. In addition, other assay protocols have been changed to provide for a more accurate measurement of the wide-ranging suite of polymetallic metals at Iska Iska. Eloro employs an industry standard QA/QC program with standards, blanks and duplicates inserted into each batch of samples analyzed with selected check samples sent to a separate accredited laboratory.

Recently, AHK Laboratories, who manage a global network of laboratories have setup operations in Bolivia with the establishment of a preparation laboratory in Oruro. AHK has a strong base of accredited laboratories in South America including Peru, Chile, Brazil and Argentina. Eloro has contracted AHK to provide additional analytical services in order to help reduce the sample backlog. A series of check samples are currently being analyzed by AHK as a QA/QC check. AHK is following the same analytical protocols used as with ALS and with the same QA/QC protocols. The use of both accredited laboratories is reducing the backlog of samples to be analysed and improving turnaround.

The magnetic survey was carried out by MES Geophysics using a GEM Systems GSM-19W Overhauser magnetometer. Dr. Chris Hale, P.Geo. and Mr. John Gilliatt, P.Geo. of Intelligent Exploration provided the survey design, preparation of the maps and interpretation from data processed and quality reviewed by Rob McKeown, P. Geo. of MES Geophysics. Messrs. Hale, Gilliatt and McKeown are Qualified Persons as defined under NI 43-101. The 3D magnetic inversion model was prepared by Mr. Joe Mihelcic, P.Eng., P.Geo. of Clearview Geophysics in consultation with Messrs. Hale and Gilliatt. Mr. Mihelcic is a QP under NI 43-101.

About Iska Iska

Iska Iska silver-tin polymetallic project is a road accessible, royalty-free property, wholly controlled by the Title Holder, Empresa Minera Villegas S.R.L. and is located 48 km north of Tupiza city, in the Sud Chichas Province of the Department of Potosi in southern Bolivia. Eloro has an option to earn a 99% interest in Iska Iska.

Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex associated with a Miocene possibly collapsed/resurgent caldera, emplaced on Ordovician age rocks with major breccia pipes, dacitic domes and hydrothermal breccias. The caldera is 1.6km by 1.8km in dimension with a vertical extent of at least 1km. Mineralization age is similar to Cerro Rico de Potosí and other major deposits such as San Vicente, Chorolque, Tasna and Tatasi located in the same geological trend.

Eloro began underground diamond drilling from the Huayra Kasa underground workings at Iska Iska on September 13, 2020. On November 18, 2020, Eloro announced the discovery of a significant breccia pipe with extensive silver polymetallic mineralization just east of the Huayra Kasa underground workings and a high-grade gold-bismuth zone in the underground workings. On November 24, 2020, Eloro announced the discovery of the SBBP approximately 150m southwest of the Huayra Kasa underground workings.

Subsequently, on January 26, 2021, Eloro announced significant results from the first drilling at the SBBP including the discovery hole DHK-15 which returned 129.60 g Ag eq/t over 257.5m (29.53g Ag/t, 0.078g Au/t, 1.45%Zn, 0.59%Pb, 0.080%Cu, 0.056%Sn, 0.0022%In and 0.0064% Bi from 0.0m to 257.5m. Subsequent drilling has confirmed significant values of Ag-Sn polymetallic mineralization in the SBBP and the adjacent CBP. A substantive mineralized envelope which is open along strike and down-dip extends around both major breccia pipes. Continuous channel sampling of the Santa Barbara Adit located to the east of SBBP returned 442 g Ag eq/t (164.96 g Ag/t, 0.46%Sn, 3.46% Pb and 0.14% Cu) over 166m including 1,092 g Ag eq/t (446 g Ag/t, 9.03% Pb and 1.16% Sn) over 56.19m. The west end of the adit intersects the end of the SBBP.

Since the discovery hole on the SBBP, Eloro has released a number of significant drill results on this target, including:

  • 122.66 grams g Ag eq/t (35.05 g Ag/t, 0.72% Zn, 0.61% Pb, 0.11% Sn and 0.06 g Au/t) over 123.61m including 205.74 g Ag eq/t (92.30 g Ag/t, 0.57% Zn, 0.85% Pb, 0.18% Sn and 0.07 g Au/t) over 32.32m (DSB-07),
  • 105.41 g Ag eq/t (8.55 g Ag/t, 1.01% Zn, 0.48% Pb, 0.06% Sn and 0.38 g Au/t) over 173.58m including 199.77 g Ag eq/t (21.90 g Ag/t, 1.18% Zn, 0.93% Pb 0.12% Sn and 0.94 g Au/t) over 39.08m (DSB-07)
  • 69.89 g Ag eq/t over 252.89m from 355.12 to 608.02m including several higher-grade sections of 196.60 g Ag eq/t including 131.13 g Ag/t over 14.52m, 134.62 g Ag eq/t including 93.25 g Ag/t over 21.08m and 145.35 g Ag eq/t including 2.38% Zn over 10.11m (DSB-08).
  • 114.96 Ag eq/t including 0.325% Sn over 56.2m including a higher-grade section of 187.98 g Ag eq/t including 0.535% Sn over 28.86m; 80.71 g Ag eq/t including 0.213% Sn over 74.39m and 118.69 g Ag eq/t over 10.77m (DSB-10).
  • 129.65 g Ag eq/t (18.38 g Ag/t, 2.14% Zn, 0.67%Pb, and 0.047% Sn) over 300.75m from 65.14m to 365.91m, including higher grade intervals of 215.54 g Ag eq/t over 72.76m, 163.35 g Ag eq/t over 31.83m and 224.48 g Ag eq/t over 19.39m. 82% of this 446.5m long hole contained reportable intervals (DHK-18).
  • 234.19 g Ag eq/t (70.58 g Ag/t, 2.31% Zn, 2.74% Pb and 0.042% Sn) over 53.2m including a higher-grade portion of 931.73 g Ag eq/t (367.29 g Ag/t, 5.64% Zn, 13.67% Pb and 0.10% Sn) over 9.26m (DHK-20).
  • 108.24 g Ag eq/t (3.14g Ag/t, 0.24 g Au/t, 2.03% Zn and 0.58% Pb) over 48.2m including a higher-grade interval grading 180.76 g Ag eq/t (4.46 g Ag/t, 0.35 g Au/t, 3.57% Zn and 1.05% Pb) over 15.02m (DHK-19). 160.22 g Ag eq/t (36.53 g Ag/t, 1.63% Zn, 1.20% Pb and 0.10% Sn) over 194.14m (DHK-21) including higher grade portions of:
    • 250.50 g Ag eq/t (51.31 g Ag/t, 3.35% Zn, 1.78% Pb and 0.10% Sn) over 18.24m.
    • 257.40 g Ag eq/t (75.83 g Ag/t, 2.29% Zn, 2.40% Pb and 0.12% Sn) over 16.33m.
    • 350.91 g Ag eq/t (112.57 g Ag/t, 1.41% Zn, 3.08% Pb and 0.33% Sn) over 30.06m.
    • 64% of this 512.9m long hole contains reportable intersections
  • 94.68 g Ag eq/t (3.87 g Ag/t, 0.067 g Au/t, 1.63% Zn, 0.43% Pb and 0.05% Sn) over 169.93m including a higher-grade zone that graded 158.64 g Ag eq/t (9.35g Ag/t, 0.016 g Au/t, 3.43% Zn, 0.71% Pb and 0.03%Sn) over 29.84m (DHK-22).
  • 100g Ag eq/t (including 38.71 g Ag/t, 0.88%Zn and 0.51%Pb) over 188.5 m from 58.67m to 247.13m including a higher-grade portion of 154 g Ag eq/t (including 75.51 g Ag/t, 0.96% Zn, 0.65% Pb and 0.16%Cu) over 65.8m (DHK-23)

On May 4, 2021, Eloro released results from the first drill hole on the CBP. Hole DCN-01 intersected multiple mineralized intercepts including 196.09 g Ag eq/t (150.25 g Ag/t, 0.10% Sn and 0.05 g Au/t) over 56.2m and containing 342.98 g Ag eq/t (274.0 g Ag/t, 0.16% Sn and 0.16 g Au/t) over 27.53m.

Hole DCN-04 drilled at -80 degrees to the north from the northern radial platform of the CBP, intersected seventeen (17) mineralized intersections, principally Sn-Ag-bearing, over its 851.4m length. Best results include: 71.54 g Ag eq/t (32.58 g Ag/t and 0.10% Sn) over 97.10m from 134.40 to 231.5m; 101.52 g Ag eq/t (28.74 g Ag/t and 0.19% Sn) over 62.01m; 70.42 g Ag eq/t (28.74 g Ag/t and 0.16% Sn) over 22.59m; and 236.96 g Ag eq/t (92.21 g Ag/t and 0.25% Sn) over 17.45m. Hole DCS-02 was drilled southeast at -60 degrees from the south radial platform of the CBP. This hole, which was drilled to 800.5m, intersected nine (9) reportable Ag-Zn-Pb-Sn mineralized intervals. Best results include 79.53 g Ag eq/t (including 0.21% Sn) over 19.42m, 101.01 g Ag eq/t (32.76 g Ag/t, 0.76% Zn, 0.75% Pb) over 10.47 and 130.95g Ag eq/t (34.14 g Ag/t, 0.10 g Au/t, 1.35% Zn and 0.56 % Pb over 7.40m.

A detailed ground magnetic survey of the Iska Iska property, reported on June 6, 2021, confirmed the extent of the Iska Iska Caldera as determined from geological mapping and satellite interpretation, including Aster data. The SBBP and CBP, both of which have been confirmed by drill-testing, are marked by prominent low anomalies reflecting strong alteration. The magnetic data suggests that the Central and Porco Breccia Pipes likely merge at depth. In addition, there is a prominent area of low intensity magnetics northwest of the SBBP which was reported on in this press release.

Geological mapping and satellite interpretation identified a third major breccia pipe target, Porco (South), that is approximately 600m in diameter (South) located southeast of the CBP in the southern part of the Iska Iska caldera complex. The Porco (South) Breccia Pipe target has a similar magnetic signature to the Santa Barbara and Central Breccia Pipes, further confirming the likelihood of it being a major breccia pipe. Six (6) drill holes have been completed on Porco; assay results are pending. Previous channel sampling in the Porco adit located adjacent the target area 200m to the southeast returned 50m grading 519.35 g Ag eq/t including 236.13 g Ag/t, 1.89 g Au/t, 0.87% Cu, 0.22% Bi and >0.05% Sn over an average sample width of 2.49m.

Currently three diamond drill rigs are active at Iska Iska, two surface rigs and one underground drill. Planned drilling for 2021 is 51,000m with the aim of outlining an initial inferred NI 43-101 compliant mineral resource by Q1 2022. The target zone at the SBBP and the surrounding mineralized envelope is 1400m along strike, 500m wide and extends to a depth of 600m. This zone is open along strike to the northwest and southeast. A downhole induced polarization/resistivity (IP/Res) survey is in progress to further define drill targets and aid resource definition drilling. Preliminary metallurgical tests are also in progress. An updated NI 43-101 Technical Report is being prepared by independent consultant Micon International Ltd.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited and is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

For further information please contact either Thomas G. Larsen, Chairman and CEO or 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 Company’s 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.

Categories
Junior Mining Precious Metals

OTC Markets Group Welcomes Dolly Varden Silver Corporation to OTCQX

NEW YORK, Nov. 16, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for over 11,000 U.S. and global securities, today announced Dolly Varden Silver Corporation (TSX-V: DV; OTCQX: DOLLF), a mineral exploration company, has qualified to trade on the OTCQX® Best Market. Dolly Varden Silver Corporation (“Dolly Varden”) upgraded to OTCQX from the Pink® market.

Dolly Varden Silver Corporation begins trading today on OTCQX under the symbol “DOLLF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

“Our international and US shareholders are an important part of the Dolly Varden growth strategy and we are grateful for their continued support” said Shawn Khunkhun, the Dolly Varden CEO and Director. “We are pleased to provide our current and future investors expanded access to information and trading liquidity.”

Burns, Figa & Will, P.C. acted as the company’s OTCQX sponsor.

About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on the Dolly Varden silver properties located in northwestern British Columbia, Canada, 25km by road from deep tide water. The 8,800 hectare (88km2) properties host a robust high-grade mineral resource and are considered to be highly prospective for hosting further high-grade deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for over 11,000 U.S. and global securities. Through our regulated OTC Link® Alternative Trading Systems, the Company connects a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for their investors.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

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SOURCE OTC Markets Group Inc.

Categories
Junior Mining

Buying Lion One is Like Stealing

Archives
Nov 15, 2021

I make it crystal clear in my investment books Nobody Knows Anything and Basic Investing in Resource Stocks that there is no magic to investing if you follow a reasonable set of rules. As I have so accurately pointed out just recently, predicting the future of any price movement can be fraught with problems. However looking at a map to see just where you are today is easy and important.

We had a low in gold, silver and the resource stocks right at the end of September. Since then the DSI has gone higher, the XAU over gold is higher and the Gold Miners Percentage Index is higher. All indicated a turn about six weeks ago. We can’t know when the metals and shares will top but those indicators will show us sentiment with great accuracy. That is just as true at tops as it is at bottoms. There is a lot of free information available that anyone can use to navigate their way through shoal waters.

(Click on images to enlarge)

There are other factors to the value of a particular stock than just the price of the commodity. We have entered the annual tax loss silly season where pissed off investors dump the shares they own that have gone down the most in order to claim the tax loss credit. It’s a lot like stealing because in their quest to unload unloved investments they often dump good stocks that will regain their prior price by February or March of the next year. Tax loss silly season begins now and will run until almost Christmas.

In addition, when markets are at new lows, volume dries up and often you have to make an appointment to give shares away. And there is the issue of stocks that investors have simply given up on because the companies made the cardinal mistake of boring shareholders.

Lion One Metals (LIO-V) made the mistake of doing all of those. Think of it as a trifecta of mining. Our saga really began in March of 2019 when Chairman and CEO Wally Berukoff appointed Quinton Hennigh as a technical advisor to Lion One. The shares were bouncing along at $.35 after years of quiet but slow progress on the 100% company owned gold project in Fiji.

Quinton started off with a surprising announcement. What they thought of as an epithermal gold system of limited potential in spite of the already defined 43-101 of over 900,000 ounces of gold wasn’t that at all. It wasn’t epithermal limited in size and grade; it was a far richer and more valuable alkaline gold system. All the company needed to do was to drill deeper.

Lion One did and in 2020 came up with results of 55 g/t Au over 12.7 meters in hole DDH 500 and 85.7 g/t Au over 3.3 meters driving the price of shares up to $2.67. Wisely, Wally went to the financing markets and raised over $65 million to begin construction of the mill and for further resource definition. But Covid began to take its toll even if we now realize what we call Covid is no more than a bad flu.

The managing director for Lion was operating out of Perth in Western Australia. Since the country had a long experience with being a prison colony they slammed the cell doors and imprisoned their entire population in order to fight a bad flu. He couldn’t leave Australia and no one could enter Fiji.

Of all of the bad events that can transpire with a junior resource company the worst is to bore shareholders. Even though the company bought new drills and had them shipped to Fiji they have no professional mining engineers or exploration geologists on site to supervise the local crews. And to be kind, Fiji is not Ontario or Nevada or even Mexico or Peru in terms of mining expertise.

On a regular but slow basis Lion One would announce drill results. In January of 2021 they announced 2.24 meters of 13.31 g/t Au along with 3.47 meters of 20.71 g/t gold. A month later on February 3rd they released results of 12.45 meters of 21.31 g/t Au and 3 meters of 114 g/t gold. March brought an announcement of two additional drill rigs being delivered. May brought excellent results from three more holes including 1.2 meters of 13.74 g/t Au near surface, 6 meters of 9.11 g/t Au and 6.47 meters of 17.9 g/t gold.

By now the company was up to a total of six drill rigs operational but was beginning to run out of the bandwidth of trying to operate remotely from Perth. Wisely, Wally made the decision to bring in some professional staff to be on site to move the company forward to production as the plan had been all along. That plan ran into the Covid stupidity. It took until August of 2021 to get Patrick Hickey into Fiji as COO and Sergio Cattalani in place as SVP for Exploration.

I’d like to say everything went smoothly but if I did, I would be lying. It took months for Fiji to open up and then the pair had to remain in quarantine for two weeks. Literally they only started cleaning up what was basically your garden-variety mess in September.

They found a lot of issues. One of the most interesting was that a lot of the core clearly was mineralized but had never been assayed not withstanding the fact that Lion One owns the lab. Lion One had good people on site but trying to plan for construction of a mine and mill takes time and requires professional supervision. It is now in place and they are moving forward.

On November 2nd they came up with another press release showing excellent numbers including 3.9 meters of 33.4 g/t Au and 0.3 meters of 65 g/t Au and 0.3 meters of 112 g/t gold, with 0.6 meters of 48.7 g/t Au and 0.6 meters of 33.06 g/t Au. Clearly Lion One has the gold. It is high grade and there is a lot of it. The lookalike Vatukoula Gold Mine is located only 40 km from Tuvatu. Vatukoula has resources remaining of 4 million ounces of gold and has produced 7 million ounces already. Tuvatu has a similar footprint and every indication of similar grade and quantity of gold.

Wally’s plan all along has been to construction a 350 TPD mill using the existing near surface resource to produce 100,000 ounces of gold a year. As of today the company has a market cap of $151 million CAD with a total of $54 million in cash. Lion One has more than enough money to continue the six-drill rig exploration and development drill program and to move the plan for the mill into high speed.

The government of Fiji wants the mine to go into production. The potential tax revenue is an important part of their financial plan for the future. Investors want to see concrete action on the part of exploration and the start of construction for the long promised mill. Wally has 100% ownership of the project, a boatload of cash that makes the company more of a bank than a mining junior and two highly experienced mining professionals in position to move this puppy to production. It’s time for the company to shit or get off the pot.

I know of no company with a resource as real as Lion One’s and the cash they have on hand that is selling for pennies. Lion One has derisked the project. A move to production would convince investors that instead of what is probably $100 an ounce CAD today, the company would really be worth a whole lot more. Wally is in a position to ride the wave of gold higher to a multi-billion dollar market cap. He’s done it twice before and this is a whole lot better potential.

Lion One is an advertiser. The company is actually my largest share position in spite of having moved to a new low. I was buying shares in the open market as recently as Friday. I would love to see the company in production. I know a lot of investors feel the same way. Once in production the majors are going to be on this like white on rice. There will be a bidding war for the company when they actually begin to put the plan into operation.

Do your own due diligence.

Lion One Metals
LIO-V $.97 (Nov 12, 2021)
LOMLF OTCQX 156 million shares
Lion One website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Base Metals Energy Exclusive Interviews Junior Mining

Andrew Hecht – Green Energy Are Catalysts For Lithium And Copper

  • Battery metal demand is rising, and the trend will continue
  • New properties are in demand- Producers provide leverage to the metal prices, and exploration companies turbocharge the gearing- Location is critical
  • Lithium Americas (LAC) looks to pick up a property
  • Nevada Copper (NEVDF)- The trend is your friend, and increasing demand for EVs supports a continuation of the rally

Noram Lithium (NRVTF)- An undervalued battery metal play in Nevada, a desirable jurisdiction

In real estate, a property’s value always reflects its location. Any real estate professional understands that the three leading value factors are location-location-location. 

Commodity producers face many regional issues. Raw materials can occur in local regions where political or economic forces make extraction challenging. The cost of production reflects local tax, royalty, logistical, and other factors.

Over the past year, the ascent of metals prices has caused many of the world’s leading producers to scramble to find new mining projects to meet the growing demand. One of the world’s leading diversified commodity producers, BHP is currently in talks with Ivanhoe Mines to acquire part of the Western Foreland exploration area in the Democratic Republic of the Congo (DRC). While DRC is the largest copper producer in Africa with the most substantial reserves, the country has a long history of corruption that has impeded its growth. The DRC is not an ideal location for mining companies, but the growing need for new output has put BHP in a position to consider the project. It takes up to ten years to bring a new copper mine into production, and producers are scouring the earth for projects that will meet the increasing demand.

Goldman Sachs called copper “the new oil” because of its role in decarbonization. Three-month LME copper was trading at the $9,518 per ton level on November 5, with the December COMEX copper futures at the $4.3430 per pound level. Goldman projects that copper prices could rise to the $15,000 per ton level by 2025, putting COMEX copper futures north of the $6.80 per pound level.  

Meanwhile, lithium is another commodity that is experiencing growing demand. The success of addressing climate change through decarbonization relies on ample supplies of battery metals that can replace fossil fuels.

While BHP is looking to the DRC for new copper deposits, other mining and exploration companies are developing battery metal deposits. Friendlier and less challenging jurisdictions are likely to attract significant premiums over the coming months and years.

In the US, Nevada, the silver state, has a long history as one of the most favorable mining jurisdictions on the earth. When it comes to location, it does not get much better than Nevada.

Battery metal demand is rising, and the trend will continue

Climate change is not a US issue; it is a worldwide trend. Addressing climate change involves replacing the hydrocarbons that currently power the world with alternative, renewable energy sources. While batteries power only around one percent of the cars on roads today, the demand for EVs is growing by leaps and bounds. Hertz recently announced they are purchasing 100,000 Tesla model-3 EVs in a $4.2 billion deal. EVs will make up 20% of the Hertz fleet by the end of 2022. Hertz will also install thousands of charging stations in its locations in the US and Europe.

EV’s require twice the copper as internal combustion engines. The batteries require other metals and minerals including, lithium, nickel, cobalt, zinc, aluminum, manganese, graphite, and potassium. Tesla’s batteries currently use lithium-nickel-cobalt-aluminum chemistry. However, the company is working on a set of cobalt-free or reduced batteries drawing on lithium-iron-phosphate technology and chemistries that rely more heavily on nickel. The three-month nickel price on the London Metals Exchange closed 2020 at the $16,600 per ton level. As of November 4, the price was over $19,400 after reaching over $20,500 during the year. Copper futures on COMEX may have corrected from the May 2021 all-time high at nearly $4.90 per pound, but they remain appreciably higher than at the end of 2020.

Source: CQG

The monthly chart shows that copper closed 2020 at the $3.52 level. At the $4.3430 per pound level in early November 2021, copper futures were over 23% higher. The price action in the lithium carbonate market has been even more bullish.

Source: Trading Economics

The chart shows the rise from below $33,000 per ton in 2020 to the current price at the $194,500 level, an increase of nearly six times. Lithium’s ascent is more like a cryptocurrency than a commodity as the demand for the metal for EV production grows.

New properties are in demand- Producers provide leverage to the metal prices, and exploration companies turbocharge the gearing- Location is critical

Mining companies make substantial capital investments to extract raw materials from the earth’s crust. The leading mining companies profit handsomely when market prices exceed production costs, creating leverage. Mining companies often outperform the commodities they produce on the upside but underperform when prices decline.

Meanwhile, exploration companies provide even more leverage. Since rewards are always a function of the risks, companies that search for commodities tend to experience incredible gains when they find them and begin production or sell the properties to the more established mining companies that can take projects to the next production and processing levels.

The mining industry reflects economies of scale. The leading companies like BHP, Rio Tinto, Anglo American, Glencore, and others have made significant capital investments and spread production risks over a diversified portfolio of mining properties. They tend to allow exploration companies to make the finds and then take the mining properties to the next steps.

When it comes to investing, exploration companies can offer attractive returns that often outpace the underlying commodity and the established miners on a percentage basis. If the BHP’s offer leverage, exploration companies turbocharge that gearing.  

Lithium Americas (LAC) looks to pick up a property

Lithium Americas Corporation (LAC) operates as a resource company in the United States. The company explores for lithium deposits. LAC owns interests in the Cauchari-Olaroz Project in the Jujuy province of Argentina and the Thacker Pass project in north-western Humboldt County, Nevada. Thacker Pass recently increased its Phase 1 capacity to target 40,000 tpa lithium carbonate.

LAC announced it submitted an unconditional offer to Millennial Lithium Corporation to acquire all of the outstanding shares for approximately $400 million.

Source: Barchart

The chart shows LAC’s ascent from a low of $1.92 per share in March 2020 to its most recent high of $33.42 on November 4. At the $32.67 per share level, LAC’s market cap was over $3.919 billion. An average of over five million shares changes hands each day. Lithium has been a hot commodity that has moved nearly six times since 2020. LAC shares have moved over seventeen times higher over the period as the successful mining company turbocharged the commodity’s percentage gain.

Nevada Copper (NEVDF)- The trend is your friend, and increasing demand for EVs supports a continuation of the rally

Nevada Copper is an exploration company in the silver state of Nevada. The company owns a 100% interest in the Pumpkin Hollow property that contains copper, gold, and silver reserves. The most recent operations update highlighted accelerated stope turnover rates, management team changes that strengthened the company, productivity improvements, and processing of ore averaging approximately 1.5% copper delivered to the mill. Since the May high, copper’s price has dropped at nearly $4.90 per pound on the nearby COMEX futures contract. NEVDF is an exploration company, so its share performance tends to outperform the commodity on the upside and underperform on the downside. Copper rose from $3.52 per pound at the end of 2020 to a high of $4.8985 in May or 39.2%. On November 5, the price was at the $4.3430 level, 11.3% below the May peak. NEVDF shares closed 2020 at the $1.14 level.

Source: Barchart

The chart highlights that NEVDF shares reached a high of $2.71 when copper peaked and traded at 67.00 cents per share on November 5. NEVDF shares rallied by 137.7% and from the end of 2020 to the May 2021 high and were 75.3% lower than the peak as of November 5. Like many exploration companies, NEVDF turbocharged the price action in copper, outperforming the metal on the upside and underperforming on the downside.

As the demand for copper will rise over the coming years, and Goldman Sachs expects the price to increase dramatically, now could be the perfect time to consider this exploration company.

Noram Lithium (NRVTF)- Another battery metal play in Nevada, a desirable jurisdiction

Norman Lithium (NRVTF) is an exploration company that develops mineral properties in the United States.
The company owns interests in the Zeus Lithium Project in Clayton Valley, Nevada. Noram’s property is next door to Albemarle Corporation’s (ALB)  Silver Peak Lithium Mine in Nevada. 

Noram’s latest highlights include:

  • A 70% increase in measured and indicated resources
  • A 369% increase in inferred resources
  • Deposits near the surface, reducing production costs
  • The potential to increase the deposit size via deeper drilling
  • An environmentally friendly footprint
  • A Preliminary Economic Assessment (PEA) in the coming weeks – Advancing the project closer to its’ production target

At the 67.15 cents per share level, NRVTF has a market cap at the $50.701 million level. An average of 56,780 shares changes hands each day.

Source: Barchart

The chart shows NRVTF shares closed at the 40.26 cents level on December 31, 2020. At 66.87 on November 5, they were 66.1% higher. NRVTF shares reached a high of 98.78 cents on January 14, 2021, which is the stock’s current technical target. The shares have traded in a bullish trend since mid-April 2021.

With the spotlight on lithium, Norman could be an excellent exploration company to consider. Success in the Zeus project could attract interest from companies like Lithium Americas Corporation (LAC) that is currently buying Millennial Lithium Corporation’s shares for $400 million, nearly eight times higher than NRVTF’s current market cap.

Exploration companies are risky, but the potential for substantial rewards always involves an elevated risk level. Meanwhile, Nevada Copper and Noram Lithium have location on their sides as Nevada is a highly desirable mining jurisdiction in a world hungry for copper and lithium supplies.

Written By: Andrew Hecht, on behalf of Maurice Jackson of Proven and Probable.

Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.

Categories
Capitalism Morality Junior Mining Uncategorized

Where has Honor Gone? Capitalism and Morality 30 July 2022

Irving Resources

Would Black Lives Matter, affirmative action policies, multi-culturalism and the demand for diversity have emerged had the concept of honor still been a part of the backbone of the West? Here are my thoughts:

On Investments

Recently, I had a linked conversation with Cory Fleck and Shad Marquitz about three companies that had not gone up with the general resources market.

Here are some more names with my limit buy-prices:

  • Gran Colombia Warrants (GCM.WT.B; C$3)
  • Silver Dollar (SLV; C$0.66)
  • Baru Gold (BARU; C$0.09)
  • Irving Resources (IRV; C$0.92)
  • Signature Resources (SGU; C$0.065)
  • Maritime Resources (MAE; C$0.13)
  • Aztec Minerals (AZT; C$0.27)
  • Montage Gold (MAU; C$0.65)
  • Newcore Gold (NCAU; C$0.54)
  • Valterra Resources (VQA; C$0.03)

You cannot have liberty in a society where a critical mass of people is not morally conscious. A society lacking moral consciousness will invariably produce goons and tyrants. Your perfect constitution will come to naught in such a society. So, the first step should always be to develop a critical mass of morally conscious people. That is what Capitalism & Morality strives to achieve, which, if our rulers allow, will be held on 30th July 2022.