Elysium digs deeper for copper and gold in NSW
Published 06-SEP-2017 12:11 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Elysium Resources (ASX:EYM), a metals junior based in Australia, has commenced Phase 2 of its drilling programme at Lloyd’s Copper Mine at the Burraga Copper-Gold Project in New South Wales (NSW). Elysium’s prime focus has recently switched to its flagship Burraga Copper-Gold Project, following a Board overhaul earlier this year.
The Burraga Project consists of three continuous exploration licences (EL6463, EL6874, EL7975) and one exploration licence application (ELA5454) covering a total area of approximately 221 sq. km.
Having completed Phase 1 of its exploration programme last month, Elysium has swiftly moved to commencing Phase 2 — a two-hole, 600 metre reverse circulation (RC) programme at its Lloyd’s Copper-Lead-Zinc (Cu-Pb-Zn) prospect in NSW.
Although, it is early stages in this programme and investors should seek professional financial advice if considering this stock for their portfolio.
Previously in Phase 1, Elysium intersected [email protected]% Cu, 0.1% Zn and 12.4 g/t Ag, from samples collected to the east of the known resource. Phase 2 intends to test the extent of mineralisation further north where Elysium’s geologists have a less clear understanding of the underlying geology.
Elysium’s Lead Geologist Alex Tunnadine, says Elysium’s tenements are located on the Lachlan Fold belt, “which houses some of Australia’s biggest gold mines including Newcrest Mining’s Cadia and Evolution Mining’s Cowal pit”.
It is hoped that the superb mining results achieved by larger, more mature miners can be emulated over the coming years as Elysium progresses towards defining a Resource at Burraga, before moving onto mine design, larger infrastructure development and eventual mining activity.
Drilling is expected to be completed within one week, subject to drilling conditions. At the latest update, drilling has commenced on the first 300 metre hole and will be followed by a second 300m hole to be drilled from the same pad, in what Elysium describes as “scissor holes” (shown in the illustration below).
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
