El Oro Province of Ecuador

Elray Resources, Inc. recently announced that it had entered into a Letter of Intent to secure a prime exploration property, known as Picacho, in Ecuador’s prolific and  legendary El Oro Province, located in the south eastern region of the country.

The Company reports that official records reveal that the major regional mining company, SADCO, extracted over 4.5 million ounces of gold from the region between 1905 and 1950, marking the area as prolific, with an average grade of 14.5 grams/ton of gold. Active projects in the area include Dynasty’s Zaruma, Dynasty and Jerusalem projects which between the three projects have over 2 million measured and indicated ounces of gold with over 3 million ounces inferred.

El Oro province (Spanish: Provincia de El Oro; Oro (es:oro) = Gold) is the southernmost of Ecuador's coastal provinces. It has been named that way because of its historically important gold production.