# Eloro Resources Maintained at Buy with CAD 18 Target Following Iska Iska Drill Results

- URL: https://stocks.freetheai.org/news/eloro-resources-maintained-at-buy-with-cad-18-target-following-iska-iska-drill-2e9133
- Published: 2026-10-16T12:09:05Z
- Category: analyst_ratings; sentiment: bullish; impact: medium
- Symbols: [TSX:ELO](https://stocks.freetheai.org/symbols/TSX-ELO)
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Sphene Capital maintained its Buy rating and CAD 18.00 price target on Eloro Resources Ltd (ELO) following encouraging drill results at the Iska Iska project. Recent drilling at drillhole DSB-96 returned intercepts of 87.1 meters grading 73.26 grams per tonne silver, including a higher-grade section of 17.9 meters at 190.5 grams per tonne silver, alongside tin concentrations reaching up to 0.45 percent. Shares of Eloro Resources were trading at 1.34 CAD, down 0.74 percent.

The fresh drilling data indicates near-surface, higher-grade silver mineralization compared to the project's current mineral resource estimate of 40 grams per tonne silver. These higher-grade sections, combined with potential tin by-product credits, could improve early-stage mine economics and help de-risk the geological profile of the Iska Iska property.

Looking ahead, future catalysts for the project include updated mineral resource estimates, a preliminary economic assessment or pre-feasibility study showing robust economics, and upcoming project financing milestones.

## Key points

- Sphene Capital maintained a Buy rating and CAD 18.00 price target on Eloro Resources Ltd (ELO).
- Drillhole DSB-96 intercepted 87.1 meters at 73.26 g/t silver, including 17.9 meters at 190.5 g/t silver.
- The drill interval contained tin concentrations of up to 0.45 percent as potential by-product credits.
- Higher-grade silver results near the surface compare favorably against the 40 g/t resource estimate.
- Key future catalysts include updated resource estimates, economic studies, and financing milestones.

## Questions and answers

### What is the current price target for Eloro Resources?

Sphene Capital maintained a Buy rating and a price target of CAD 18.00 per share for Eloro Resources Ltd.

### What were the key drill results at the Iska Iska project?

Drillhole DSB-96 intercepted 87.1 meters grading 73.26 g/t silver, including 17.9 meters at 190.5 g/t silver, with tin up to 0.45 percent.

### What catalysts could impact Eloro Resources next?

Future catalysts include updated mineral resource estimates, a preliminary economic assessment or pre-feasibility study, and financing milestones.