Elissa to Commence High Resolution Airborne Geophysical Survey at its Thor REE Project, Nevada
February 14, 2013 (Source: Marketwire) Vancouver, BC — Elissa Resources Ltd. (TSX VENTURE:ELI)(OTCQX:ELSRF) reports that it is initiating a comprehensive, high resolution combined radiometric-aeromagnetic survey on its 100% owned Thor Rare Earth Project, Nevada, located about 28 km (17 miles) east of Molycorp Minerals’ Mountain Pass REE deposit and processing facility in nearby California. The helicopter-flown program, to be conducted by Precision GeoSurveys Inc. of Vancouver, Canada, will survey in detail about 75% of the 14.8 sq. km area (9 sq. miles) of the Thor property block, covering all currently identified trends and outlying areas of known or suspected heavy and light rare earth element (REE) mineralization. It will be the most extensive and comprehensive airborne geophysical survey yet conducted at the Thor Project. Elissa -anticipates this survey will generate further future REE drill targets and hopes it will also offer support to the hypothesis that the Lopez Trend on the Thor Project may be the eastern folded edge of a possibly very much larger lithologically-controlled REE-bearing system.
The REE mineralization encountered in the Thor Project 2012 phase-one drilling program is hosted by an apparently widespread biotite-rich alkali granite/syenite unit. Ongoing studies of core samples from the drilling program by outside independent consultants and university researchers suggest the mineralization may have formed as part of the rock body itself. Petrographic studies (by Dr. Virginia Gillerman, Economic Geologist with experience in REE-mineralization) indicate that the mineralization encountered in the drilling is associated with abundant biotite-rich zones (or layers) within the host unit, occurring as small indistinct “veins” of apatite-monazite (REE-bearing phosphate minerals) that follow grain boundaries. There is little or no evidence of open-space fracture filling suggesting that the REE minerals may have been emplaced from within the rock itself while the rock was still in a plastic, slightly molten state.
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Results of the Thor phase-one drilling, which focused almost entirely on sections of the Lopez Trend, included 9.8 m (32 ft) of 1.05% total REO (rare earth oxides) with a 1.8 m (5.9 ft) zone containing 3.28% total REO with up to 18% of the REO mineralization comprised of the desirable and valuable heavy rare earth elements (refer to June 19, 2012 news release for additional assay details). It is now thought that the Lopez Trend represents part of the eastern limb of a very large, perhaps overturned, fold with the nose and similarly sized western limb of the fold, known as the Santos Trend, largely concealed by shallow alluvial cover. If so, the total strike length of units equivalent to the REE-bearing host exposed along the Lopez Trend could be 6 km or more. The upcoming helicopter survey will fly more than 400 km (248 miles) of regular-spaced lines and tie lines covering an 11 sq. km (6.8 sq. miles) portion of the Thor property block. The survey will provide detail for the 2.5 km (1.5 miles) long, partially exposed, partially tested Lopez Trend, for the similar sized but covered and untested Santos Trend, for the outlying NED and Black Butte areas, and for other scantly explored or unexplored areas. Elissa expects the survey will commence within one week and results within four weeks of this news release. Pending a review and study of the results, Elissa intends to outline a phase-two drill program designed to target a possible REE-bearing rock system of significant size.
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.
Elissa Resources is advancing its 100% owned Thor heavy and light rare earth element (REE) project in Nevada, 28 km (17 miles) east of Molycorp Minerals’ Mountain Pass REE deposit and processing facility, California. Elissa also owns a 100% interest in the Ulysses REE Project located in eastern Idaho and south-western Montana.
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.”
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