Elissa Resources Discovers Additional Broad Structural Trends At Thor Rare Earth Elements (REE) Project, Nevada
01 9월 2011 - 10:32PM
Marketwired
-- A strong linear subsurface magnetic high corresponding to the multiple
REE surface discoveries along the Thor Project's Lopez Trend has been
identified
-- A second, similar magnetic high west of the Lopez Trend (Santos Trend)
has been identified
-- Numerous other areas of interest have also identified including several
locations corresponding to the Thor Project's "NED" Discovery Zone
Elissa Resources ("Elissa" or the "Company") (TSX VENTURE:
ELI)(OTCQX: ELSRF)(PINK SHEETS: ELSRF) is pleased to report that a
recently completed ground magnetic geophysical survey at its 100%
owned Thor REE Project, Nevada, has identified several previously
unrecognized broad structural trends of interest. Elissa's
100%-owned Thor project is located 47 miles (76 km) south of Las
Vegas, Nevada, and 16 miles (28km) east of Molycorp Minerals'
Mountain Pass REE mine and processing facilities in the
neighbouring state of California. Elissa's ground exploration at
Thor has to date, discovered significant heavy and light REE
mineralization at surface in at least nine widely separate prospect
localities in three distinct discovery zones.
"The ground geophysical survey results significantly broaden the
overall potential of our Thor REE Project; the comprehensive data
is allowing us to finalize phase one drilling locations and has
simultaneously opened up new areas of interest" stated Paul
McKenzie President and CEO of Elissa Resources. "We intend to drill
broad sections of the project's Lopez Trend later this year with
other project locations to follow."
Within the surveyed area were potential drill targets discerned
from previous extensive exploration mapping and sampling programs
and from a district-scale airborne magnetic geophysical survey
flown late last year. The new ground magnetic survey data
identified two strong linear magnetic highs, one mirroring the
project's Lopez Trend, (a 2.6 km (1.6 mile) long structural
zone)and the second running parallel and just westward of the first
(the Santos Trend). Previous sampling of rock outcrops exposed
intermittently along the Lopez Trend returned strongly anomalous to
locally high-grade heavy and light REE values (up to 10.6% REE)
showing distinct enrichment in the valuable heavy REEs. Eight heavy
REE's and five light REE's are present at Thor including
dysprosium, yttrium, neodymium and terbium. The close correlation
between the surface anomaly along the Lopez Trend and the strong
linear magnetic high discovered by the ground survey is enabling
Elissa's geological team to finalize their targets for a
forthcoming phase one drill program, which will focus on targets
extending the entire length of the Lopez Trend.
A second very similar linear magnetic high was revealed west of
and parallel to the Lopez Trend in an area entirely covered by
alluvium. This second zone, referred to as the Santos Trend, is
similar in extent and magnetic intensity to the Lopez Trend. Weak
surface radiometric anomalies have been encountered in this covered
area, offering potential for possible future Lopez-like REE targets
in bedrock at depth. Elissa expects to examine the Santos Trend in
more detail on the ground and may test the zone with a secondary
drill program early in 2012.
Another area of significance and interest to the Thor Project is
the NED target, located 1 mile (1.6 km) northeast of the Lopez
Trend. Previous ground work by Elissa geologists found a 52 ft. x
16 ft. (16 m x 5 m) exposure of an unusual dark mica-rich (biotite)
igneous rock containing significant amounts of heavy and light REE
disseminated in the mica (see Elissa News Release, November 16,
2010, http://www.elissaresources.com/_resources/nr_Nov16_2010.pdf).
Petrographic studies indicate that the REE mineralization is
possibly magmatic in origin, suggesting that the rock exposure
could be merely the small part of a much larger, concealed igneous
body. The ground geophysical survey revealed several circular to
slightly elliptical mag highs in the immediate vicinity of the NED
target. These magnetic anomalies will be carefully examined in
Elissa's continuing ground exploration programs at Thor.
Beyond the Lopez Trend, Santos Trend and the NED area, the
ground magnetic survey has revealed several other areas warranting
further examination. Elissa is very pleased with the resolution and
encouraging results of the ground magnetic survey and is
considering additional ground geophysical surveys to cover some of
the remaining parts of the Thor property block and some of the
ground covered by the Company's recent expansion staking program
(see Elissa News Release July 11, 2011,
http://www.elissaresources.com/_resources/news/2011_07_11_ElissaThorExpansion.pdf).
Included in this recent staking is an historical niobium prospect
(with possible accessory REE minerals). Field investigations have
already commenced at this location, from which assay results will
be issued by Elissa Resources in a subsequent news release.
The ground magnetic survey, carried out by Zonge Geosciences
Inc. of Reno, Nevada, consisted of 100 km (62 miles) of gridded
line traverses covering a 5.7 sq. mile (9.2 sq. km) area within the
Thor Project.
The technical information outlined in this news release, has
been reviewed and approved by Mel Klohn, PGeo, Director of Elissa
Resources, and a Qualified Person as defined in the current
National Instrument 43-101.
About Elissa Resources Ltd.
Elissa Resources is advancing its 100% owned Thor heavy and
light rare earth element (REE) project in Nevada, 28 km (16 miles)
east of Molycorp Minerals' Mountain Pass REE deposit and processing
facility, California. Additionally, Elissa has an option to earn a
100% interest on both the Sage Creek (Idaho) and St. Elmo (Nevada)
gold projects. The Company is also reviewing and aggressively
pursuing REE opportunities in other parts of Nevada and
neighbouring states.
On behalf of the Board of Directors, I look forward to keeping
you updated with our corporate developments.
Paul McKenzie, President & CEO
Disclaimer: Certain information regarding the Company including
management's assessment of future plans and operations, may
constitute forward-looking statements under applicable securities
laws and necessarily involve risks associated with mining
exploration and development, volatility of prices, currency
fluctuations, imprecision of resource estimates, environmental and
permitting risks, access to labour and services, competition from
other companies and ability to access sufficient capital. As a
consequence, actual results may differ materially from those
anticipated in the forward-looking statements. A feasibility study
has not been completed and there is no certainty the disclosed
targets will be reached nor that the proposed operations will be
economically viable.
Neither 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 accuracy
of this release. We seek safe harbour.
Contacts: Elissa Resources Ltd. Paul McKenzie President &
CEO +1 604 662 3692 +1 604 642 2929 (FAX) info@elissaresources.com
www.elissaresources.com
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