Elissa Resources Plans Additional Geophysical Survey at its Thor Rare Earth Project, Nevada
30 3월 2011 - 9:00PM
Marketwired
Elissa Resources ("Elissa" or the "Company") (TSX VENTURE: ELI)
Following successful results from a district-scale detailed
high-resolution airborne magnetic geophysical survey completed in
November, 2010, Elissa Resources ("Elissa") announced today it is
planning to conduct a ground geophysical (magnetic) survey on
specific sections of its 100% owned Thor Rare Earth Elements (REE)
Project, in southern Nevada. The project lies 26 km (16 miles) east
of the Mountain Pass REE mine and processing plant, which are
currently being re-opened by Molycorp Minerals. At Thor, multiple
samples collected during extensive exploration programs in 2010
returned Rare Earth Element analyses ranging from anomalous to
10.6% REE. Mapping and mineralogy studies indicate that the REE
mineralization at Thor occurs in large discrete shear zones as
phosphate minerals containing significant amounts of very scarce
and valuable Heavy Rare Earth Elements (HREE). This stands in
contrast to the neighbouring Mountain Pass Mine, where the REE
occur within a large igneous carbonate body as carbonate minerals
containing substantial amounts of Light Rare Earth Elements (LREE)
but a paucity of HREE.
Elissa has identified significant REE mineralization at Thor in
nine widely separate prospect localities in three distinct
discovery zones referred to as the Lopez Trend, the Black Butte
area and the NED area. A fourth area of interest is the Santos
Trend. Work carried out to date includes a high-resolution
ultralight airborne magnetic survey, surface mapping, extensive
ground radiometric surveys, satellite imagery studies, channel
sampling of historical surface workings and other limited surface
exposures, and detailed petrographic studies. The airborne magnetic
survey was useful in helping delineate the Lopez Trend and the
Black Butte area, but due to rugged terrain difficulties was not as
effective in enhancing or defining the NED target area.
The Lopez Trend, a mostly covered, 2.4-km long structural zone
from 50 to 150 m wide, is a compelling drill-ready target area. The
zone is intermittently marked by anomalous radioactivity and/or
REE-bearing samples along its length. Elissa's 2010 exploration
programs suggest that the Lopez Trend may be continuous through the
covered areas. Later this year, Elissa plans to complete a shallow
drill program to test the Lopez Trend. There are indications that
the sub-parallel Santos Trend, lying in a covered alluvial valley
to the west, may represent a second similar, shallowly buried
mineralized zone.
To date, Elissa has collected 127 total rock samples from the
Thor Project, mostly continuous channel samples taken across widths
of one to several metres from limited rock exposures throughout the
project area. More than half of these samples (70 total) returned
assays showing anomalous (greater than 0.1%) to very significant
(greater than 0.5%) amounts of REE, representing various targets
within each of the project's separate discovery zones. Of these
samples, 22 returned assays of 1.3% to 10.6% (average 2.6%) total
REE, with the more valuable HREE comprising a significant fraction
(3 to more than 9 percent, average 5.3 percent) of the total REE
contained in the samples.
The proposed detailed ground magnetic survey will focus
primarily on the NED target area, 1.6 km east of the northern end
of the Lopez Trend. Samples taken in the NED area in 2010 were
limited to a single outcrop comprised of biotite-rich,
dark-coloured igneous rock that averaged 1.50% total REE.
Petrographic studies indicate the unusual rock type is magmatic in
origin and that the REE-bearing minerals occur as disseminated
inclusions in the biotite. Indications are that the outcrop may be
the surface expression of a much larger concealed igneous body. The
magnetic survey will help define the perimeters of this REE-bearing
body. The REE mineralization, like that in the Lopez Trend and
Black Butte area, is enriched in the more valuable HREE.
During the third quarter of 2010, the Thor project was
separately visited by two independent, respected REE specialists,
Dr. James Clark, a geological consultant with extensive background
and expertise in REE deposits, and Dr. David Jessey, a Professor at
California Polytechnic, who is very familiar with the geology and
REE mineralization of the Mojave Desert Region. The conclusions are
that the apparent size and tenor of the Lopez Trend discovery zone
may be generally similar to other REE vein systems that comprise
currently attractive, viable exploration targets.
Elissa Resources also wishes to report that as of March 28, 2011
its shares commenced trading on the TSXV under the trading symbol
ELI. Elissa Resources was formed out of the successful 2010
Prophecy Resource Corp. / Red Hill Energy merger whereby
shareholders of Red Hill Energy received shares of Elissa Resources
on a 1 for 4 basis. (Please see Prophecy Resource Corp. / Red Hill
Energy April 7, 2010 news)
A more in-depth analysis of the prior exploration programs at
Thor including specific details of both HREE & LREE assay
results can be viewed in a recently completed NI 43-101 Technical
Report available on www.sedar.com, and in Elissa's November 16,
2010 news release available at www.elissaresources.com.
The technical information outlined in this news release, has
been reviewed and approved by Mel Klohn, PGeo, a Director of Elissa
Resources Ltd. and a Qualified Person under National Instrument
43-101.
ON BEHALF OF THE BOARD OF DIRECTORS of Elissa Resources Ltd.
Paul McKenzie, President and CEO
About Elissa Resources Ltd.
Elissa Resources is advancing its 100% owned Thor light and
heavy rare earth minerals property in Nevada, 20 miles (32km) east
of Molycorp Minerals' Mountain Pass deposit, California.
Additionally Elissa has an option to earn a 100% interest on both
the Sage Creek and St. Elmo gold projects also in Nevada. The
Company also has 100% ownership of a prospective lithium property
in Nevada.
Statements in this press release other than purely historical
information, including statements relating to the Company's future
plans, objectives or expected results, constitute forward-looking
statements. Forward-looking statements are based on numerous
assumptions and are subject to the risks and uncertainties inherent
in the Company's business, including risks inherent in mineral
exploration and development, and uncertainties in connection with
anticipated commodity prices for minerals, growth of worldwide
market demand, exploration capital requirements, length of asset
life and availability of qualified personnel, among others. As a
result, actual results may vary materially from those described in
the forward-looking statements.
"Neither The TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Elissa Resources Ltd. Scott Parsons Director 604 669
8368 (ext 106) Elissa Resources Ltd. Paul McKenzie 604 669 8368
(ext 107) contact@elissaresources.com www.elissaresources.com
Elissa Resources Ltd. (TSXV:ELI)
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Elissa Resources Ltd. (TSXV:ELI)
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