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elissa resources ltd (ELI) Snapshot

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Market Cap
642.1K
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5.3K
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Shares Outstanding
32.1M
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elissa resources ltd (ELI) Details

Elissa Resources Ltd., an exploration company, engages in the acquisition, exploration, and development of mineral resource properties in the United States. The company primarily explores for gold deposits and rare earth elements (REE). It has interest in the Thor Rare Earth property that is located in south western Nevada; Ulysses REE Project, which is located in eastern Idaho and south-western Montana; and the Sage Creek property that is located in Indian Creek Mining District, Lemhi County, Idaho, as well as has an option to earn a 100% interest in the St. Elmo (Nevada) gold project that is located 96 km north of Elko in north eastern Nevada. The company was formerly known as Elissa Resources Ltd. and changed its name to Elissa Resources Ltd. in February 2010. Elissa Resources Ltd. was incorporated in 2007 and is headquartered in Vancouver, Canada.

Founded in 2007

elissa resources ltd (ELI) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$100.0K
Chief Financial Officer and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

elissa resources ltd (ELI) Key Developments

Elissa Resources Ltd., Annual General Meeting, Aug 11, 2014

Elissa Resources Ltd., Annual General Meeting, Aug 11, 2014., at 11:00 Pacific Standard Time. Location: Armstrong Simpson, 2080 - 777 Hornby Street. Agenda: To receive the audited consolidated financial statements of the company for the fiscal year ended December 31, 201. and the auditors' report thereon; to fix the number of directors to be elected for the ensuing year at six; to elect directors of the company for the coming year; to appoint the auditors for the company for the coming year and authorize the Directors to fix the auditors' remuneration; to approve a 10% Rolling Stock Option Plan for the company and previous stock option grants; to approve, by an ordinary resolution, the company's proposed advance notice policy; and to transact such other business as may properly come before the meeting or any adjournment thereof.

Elissa Resources Ltd. Acquires Gold Projects Near Prolific Historic Homestake Mine and Goldcorp's Active Wharf Mine in Black Hills Region, South Dakota

Elissa Resources Ltd. announced that it has successfully optioned and acquired 104 gold lode claims in two separate blocks strategically located in two of the many gold mining camps in the historically famous Black Hills gold province in South Dakota, USA. The district includes the famous Homestake Mine which yielded more than 40 million ounces of gold averaging 0.3 opt (troy ounces per short ton) over its 125-year production history. Elissa's new acquisitions include the South Standby property, 16 miles (26 km) south of the Homestake Mine, and the False Bottom Property, only 3 miles (5 km) west-northwest of the Homestake Mine and immediately north of Goldcorp's currently producing Wharf Mine. The South Standby property consists of 18 unpatented lode claims, including 8 claims staked by Elissa and 10 claims optioned from BHB Partners of Newcastle, Wyoming, all 18 claims together totalling approximately 290 acres (117 hectares). The claims cover a significant part of the historical Rochford district, a former notable gold camp gold comprised of several old mines and various scantly explored occurrences. Although historical records are somewhat vague and incomplete, it appears the large operation in this old district was the Standby Mine which adjoins the north edge of Elissa's South Standby claim block. The Standby Mine, inactive since about 1910, is thought to have produced 25,000 to 50,000 tons of ore averaging 0.20 to 0.25 opt gold. Gold at the mine is localized along a tight fold structure that plunges SSE toward the South Standby claims and is hosted by Proterozic-age metamorphosed iron formation. The style and occurrence of the gold mineralization is very similar to the Homestake Mine and many geologists have, in fact, suggested that the host iron formation in the Rochford District and in the Homestake Mine are likely the same. The Homestake-like iron formation extending southward across Elissa's South Standby claim block consists of a structurally thickened belt of pyrrhotite-rich, cummingtonite-grunerite schist. It is exposed intermittently for at least 4,000 feet (1,200 m) along the strike of a NNW trending pair of tight folds accompanied by a major subparallel shear zone. Data available from BHB Partners, indicates the property was first explored by Getty in 1983-85, then by Noranda in 1988-90. During these campaigns, rock samples (probably grab samples) collected along the South Standby zone sporadically returned anomalous gold values up to 0.32 opt. Additionally, soil sampling identified two very strong arsenic anomalies, one 3,000 feet (910 m) long, the other 2,500 feet (760 m) long. Arsenopyrite (iron arsenic sulfide) is a common associate with Homestake-type mineralization, so arsenic serves as a valuable guide to gold mineralization in the gold camps of the region. Getty and Noranda also did a limited amount of drilling (5 holes by each company) to examine one of the arsenic-laden fold structures, intersecting short intervals (5 to 28 feet/1.5 to 8.5 m) of 0.02 to 0.152 opt gold (Note: These are the reported down-hole lengths of the mineralized intervals; true widths of mineralization are currently unknown). The second fold, a synformal-type structure more analogous to the richest gold-bearing structures in the Homestake mine, was overlooked and not tested. Old in-house company reports indicate both companies were encouraged by these first-pass exploration results, but for various corporate-level reasons not related to the project itself, they both abandoned activities in the Black Hills province and consequently abandoned the South Standby project. The project has not been explored since. Elissa's False Bottom property is in one of the more strongly mineralized parts of the region, a prolific district located only 3 miles (5 km) northwest of the Homestake Mine. The property consists of 86 newly staked lode claims, including 24 staked by BHB Partners and 62 staked by Elissa, together comprising a substantial claim block totalling approximately 1,214 acres (492 hectares), strategically surrounded by several modern-day gold deposits and operations. The property lies immediately north and partially adjoins Goldcorp's active Wharf Gold Mine, which has produced more than 2 million ounces of gold since 1986, and is immediately south and southeast of Barrick's inactive Richmond Hill Gold Mine (currently in care and maintenance). Parts of the False Bottom property in the past were intermittently explored for base metals (mainly molybdenum) related to young (Cenozoic-age) intrusive igneous rocks found on or near the property. However, new information gathered by BHB Partners indicates that the intrusives, at least in the northern part of the property, are tabular sill-like bodies underlain at relatively shallow depth by much older, metamorphosed and tightly folded iron formation of probable Proterozoic-age. It is very similar and perhaps equivalent to the gold-bearing Homestake Formation. A few historical drill holes in the False Bottom area are known to have intersected the iron formation, encountering intervals of low grade gold, but never attracted follow-up interest. The iron formation in the False Bottom area essentially has been largely ignored or overlooked by past exploration.

Elissa Resources Ltd., Annual General Meeting, Jul 16, 2013

Elissa Resources Ltd., Annual General Meeting, Jul 16, 2013., at 11:30 Pacific Standard Time. Location: 2080 - 777 Hornby Street. Agenda: To receive the audited consolidated financial statements of the company for the fiscal year ended December 31, 2012 and the auditors' report thereon; to fix the number of directors to be elected for the ensuing year at six; to elect directors of the company for the ensuing year; to appoint the auditors for the company for the ensuing year; to approve a 10% Rolling Stock Option Plan for the company and previous stock option grants; to approve, by an ordinary resolution, the company's proposed advance notice policy; and to transact such other business as may properly come before the Meeting or any adjournment thereof.

 

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