Elissa Commences Drilling at Sage Creek Gold Project, Idaho
10 8월 2011 - 10:00PM
Marketwired
Elissa Resources ("Elissa" or the "Company") (TSX VENTURE: ELI) is
pleased to announce that core drilling has commenced at its Sage
Creek Gold Project in east-central Idaho, USA. The drill program is
targeting gold with open-pit potential at depths of up to 150
meters.
"We believe the near-surface, tabular gold-bearing unit at Sage
Creek has the potential to contain a large and economically viable
gold resource," said Paul McKenzie, President and CEO of Elissa
Resources. "Very encouraging near-surface drill results were
overlooked by a previous explorer that focussed its limited drill
program on deeper, potential gold-bearing structures only."
Sage Creek has widespread gold mineralization on the surface,
including gold-bearing rock float that contains up to 30 grams per
tonne (g/t) gold throughout the area. Up to 3.0 g/t gold was
intersected over 10 meters (not true thickness) during limited
historical drilling. Sage Creek and its vicinity host a number of
historical open-pit gold mines.
The gold-bearing target at Sage Creek is a Precambrian-age unit
consisting of gently dipping interbedded chert and banded iron
formation. The unit shallowly underlies the area, sub-parallel to
the hill slopes, and for this reason several of the historical gold
mines on the property and nearby areas were developed as open-pit
operations.
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 heavy and
light rare earth element project in Nevada, 16 miles (28 km) east
of Molycorp Minerals' Mountain Pass deposit and processing facility
in California. Strongly represented at the Thor project are four
rare earth elements that have been deemed as being in critical
short supply by the U.S. Department of Energy: neodymium (Nd),
terbium (Tb), dysprosium (Dy), and yttrium (Y). Additionally,
Elissa has an option to earn a 100% interest on both the Sage Creek
(Idaho) and St. Elmo (Nevada) gold projects. Elissa is also
reviewing and aggressively pursuing REE opportunities in other
parts of Nevada and neighbouring states.
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. Paul McKenzie President and CEO
(604) 669-8368 or (604) 662-3692 ext 107
contact@elissaresources.com www.elissaresources.com
Elissa Resources Ltd. (TSXV:ELI)
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