Elissa Acquires Additional US Based Rare Earth Projects
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/25/11 -- 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.