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Elissa Resources Ltd.

Published : May 11th, 2011

Prepares to Drill Sage Creek Gold Project, Nevada

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TSX-V: ELI 2060-777 Hornby Street
Vancouver, BC
Canada
Email: contact@elissaresources.com V6Z 1T7
Phone: +1.604.669.8368 Fax: 

Vancouver, British Columbia, May11, 2011: Elissa Resources (�Elissa� or the �Company�) (TSXV-ELI)  The Company reports that it is in final stages of preparations for a 600-metre drilling program at its Sage Creek Gold Project, in east-central Idaho, U.S.A.  The program will commence as soon as snow cover at the project recedes to allow access by the drill crews.

Elissa believes the tabular gold-bearing unit at Sage Creek offers a straightforward target concept which can be readily tested by a program of shallow Diamond core holes. Data generated by several previous exploration efforts � geophysical surveys, mapping, sampling, and only limited drilling � indicate the presence of widespread gold mineralization on the property. Gold-bearing rock float containing up to 30 g/t gold is found throughout the area, and up to 3.0 g/t gold was intersected over 10 m (not true thickness) in one of the old drill holes. The project area is part of the regionally extensive Belt Supergroup sedimentary rock sequence of Proterozoic age, which hosts many important metal mining districts throughout northern Idaho, western Montana and southern British Columbia. The gold-bearing target at Sage Creek appears to be a gently dipping unit of chert and banded iron formation. The unit shallowly underlies the area, sub-parallel to the hill slopes, and for this reason several of the historical gold mines on the property and nearby areas were developed as open-pit operations.

Elissa also plans to carefully examine the Sage Creek prospect area for possible rare earth elements (REE) mineralization. The prospect is located along a broad regional NW-SE trending belt that is known to host many REE occurrences, some of potentially large size, such as the Lemhi Pass REE-Th district approximately 45 miles (70 km) to the southeast along the Idaho-Montana border. There are several REE deposits in the vicinity of the Sage Creek project, some of which are reported in published literature to be enriched in the heavy REE (HREE) minerals which are rarer and more valuable than the light REE (LREE) minerals. 

The technical information outlined in this news release, has been reviewed and approved by Mel Klohn, PGeo, a Director of Elissa Resources Ltd. and a Qualified Person under National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS of ELISSA Resources Ltd.

Paul McKenzie, President and CEO

 

About Elissa Resources Ltd.

Elissa Resources is advancing its 100% owned Thor light and heavy rare earth minerals property in Nevada, 16 miles (32km) east of Molycorp Minerals� Mountain Pass deposit, California. Additionally Elissa has an option to earn a 100% interest on both the Sage Creek and St. Elmo gold projects also in Nevada. The Company also has 100% ownership of a prospective lithium property in Nevada.

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.�

 

For further information:

Scott Parsons, Director 604 669 8368 (ext 106) or Paul McKenzie, President / CEO (ext 107)

Email: contact@elissaresources.com

www.elissaresources.com

 

 

 

 

Elissa Resources Corp.
Paul McKenzie - President and CEO

For further information:

Telephone 1.604.669.8368
Email: contact@elissaresources.com
Web: www.elissaresources.com

"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."

www.elissaresources.com

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Elissa Resources Ltd.

CODE : RH.V
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Elissa Res is a exploration company based in Canada.

Elissa Res is listed in Canada and in United States of America. Its market capitalisation is CA$ 21.5 millions as of today (US$ 21.0 millions, € 15.3 millions).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 9.90, and its lowest recent point on November 14, 2008 at CA$ 0.20.

Elissa Res has 53 860 000 shares outstanding.

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2007 Annual Report
Financings of Elissa Resources Ltd.
6/16/2008ANNOUNCES PRIVATE PLACEMENT
6/8/2007Closes $2.44 Million Private Placement
5/6/2007INCREASES PRIVATE PLACEMENT
Project news of Elissa Resources Ltd.
3/26/2012Expands Drill Program at Thor Heavy and Light REE Project, N...
1/10/2012Commences Drilling at Thor Rare Earth Project, Nevada
5/11/2011Prepares to Drill Sage Creek Gold Project, Nevada
3/30/2011Plans Additional Geophysical Survey at its Thor Rare Earth P...
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8/13/2008(Ulaan Ovooo)CONDUCTS BULK SAMPLE COAL TESTS ON ULAAN OVOO
6/18/2008(Ulaan Ovooo)COMMISSIONS A FULL PRE-FEASIBILITY STUDY
12/21/2007NI 43-101 Report and Mine Engineering underway
6/12/2007(Ulaan Ovooo)Confirms Large Coal Resource at Chandgana Tal Coal Project, ...
5/22/2006(Ulaan Ovooo)Update on the Ulaan Ovoo coal project
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6/19/2012Reports Phase One Drill Results From Thor REE Project, Nevad...
12/1/2010Elissa Sells Banbury Project for CDN $2,000,000
4/15/2010and Prophecy Announce Completion of Merger
4/12/2010Shareholders of Prophecy and Red Hill Approve Merger
4/8/2010and Prophecy Provide Update On Capitalization
4/1/2010Prophecy To Commence Drilling Program At Chandgana Khavtgai
3/24/2010Prophecy Initiates Bulk Tonnage Metallurgical Testing at Lyn...
3/19/2010Details the Proposed Spin-Out Company
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1/22/2010and Prophecy Resource Corp. Announce Major Merger
11/2/2009Demand for Mongolian Coal on the Climb
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3/4/2009Mongolia gives nod to Rio, Ivanhoe mine
12/17/2008Letter to Shareholders
12/11/2008Mongolian Government Ready for Mining Deals
11/27/2008MPs’ GROUP FAVORS 34% SHARE IN OYU TOLGOI
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9/23/2008Mongolia creates new Ministry of Mining
9/2/2008GOVERNMENT ENVIRONMENTAL APPROVAL RECEIVED
7/22/2008Kerry Holdings and MCS Holding to Acquire QGX Ltd. for Cdn$5...
7/22/2008Mongolian news article of interest...A new era begins for Mo...
3/5/2008Mongolia eyes mining deal soon
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10/25/2007Very Large New Coal Discovery
10/25/2007To Attend Casey Investment Summit
10/24/2007Shares Halted
9/14/2007Mongolian Government update
9/10/2007 INCREASES ITS TOTAL MONGOLIAN COAL RESOURCE BY 68% TO 350.1...
9/6/2007 ACQUIRES CHANDGANA KHAVTGAI, A PROMISING EXTENSION PROPERTY...
8/15/2007CONFIRMS THAT COAL AT CHANDGANA TAL IS HIGHLY DESIRABLE FOR ...
5/30/2007China Asks Japan, South Korea to Pay More for Coal
3/14/2007China Fuels Coal Prices As Imports Pass Exports
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