Elissa Acquires Additional US Based Rare Earth Projects
25 Oktober 2011 - 3:00PM
Marketwired
Elissa Resources ("Elissa" or the "Company") (TSX
VENTURE:ELI)(OTCQX:ELSRF)(PINK SHEETS:ELSRF) is pleased to report
that it recently staked three blocks of claims totalling
approximately 10,000 acres (4,000 hectares) covering significant
parts of a large REE (rare earth elements) bearing mineral belt
located in eastern Idaho and south-western Montana, U.S.A. Elissa
staked its claim blocks following an extensive literature research
and brief follow-up ground work. The region includes numerous
historical REE occurrences and deposits which have been largely
neglected or overlooked in recent times. Some of these occurrences
were explored briefly in the 1950s and 1960s by a few large
companies, including Molycorp and Union Carbide, but the area has
since received little attention.
Available academic studies and reports on this area suggests
that the overall geological setting (structure and lithology) is
favorable for targets of interesting size. Available descriptions
for some of the many widespread REE occurrences throughout the area
suggest potential for mineralization of favourable grade and style.
Elissa has initiated preliminary ground geophysical surveys in one
of its three claim blocks in this area to define areas for
follow-up soil sampling grids.
Further to the Company's March 7, 2011 news release, Elissa
Resources also wishes to report that it will no longer be pursuing
the acquisition of Regency Metals Corp. and its subsequent
ownership of an exploration project in the Dominican Republic.
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.
ON BEHALF OF THE BOARD OF DIRECTORS of ELISSA RESOURCES Ltd.
Paul McKenzie, President & 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.
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. We seek safe harbour.
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 or
accuracy of this release.
Contacts: Elissa Resources Ltd. Paul McKenzie President &
CEO +1 604 662 3692 or Toll Free: 1 888 662 3692 +1 604 642 2929
(FAX)info@elissaresources.comwww.elissaresources.com
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