Proactiveinvestors Australia

Elementos www.elementos.com.au/

Elementos (ASX: ELT) is an Australian-based exploration and development company. High grade gold-silver and copper targets are the priority focus of Elementos, which has interests in three world-class mineral provinces in three countries, Chile, Argentina, and Australia.

Pdf

Elementos defines high grade copper in world class northern Chile copper district

Tuesday, March 13, 2012 by Christine Feary

Elementos defines high grade copper in world class northern Chile copper district

Elementos (ASX: ELT) has returned copper values of up to 3.5% from initial sampling work at the Ignacia prospect within the Mercedes Project in northern Chile.

Mercedes is located within the Atacama region, the world’s foremost copper producing region which hosts a number of world class porphyry deposits.

Projects in the region include BHP Billiton’s (ASX: BHP) Spence Mine with a copper Resource of 64 million tonnes at 1.01% copper oxide and 222 million tonnes at 0.91% copper sulphide.

Mapping and geological sampling at the Ignacia and Mecha prospects returned 21 rock chip samples with high grade copper values, along with anomalous silver and molybdenum.

Of these samples, 18 assayed at greater than 1% copper.

At Ignacia, samples assayed up to 3.5% copper, 22 grams per tonne (g/t) silver and 9g/t molybdenum, while samples from Mecha assayed up to 2.7% copper and 35g/t silver.

So far, Elementos has identified 1 kilometre long mineralised trends at both Mecha and Ignacia.

Mapping and sampling is continuing over near surface high grade targets and at deeper porphyry prospects in order to generate targets for drilling.

Mercedes acquisition

In February 2012 Elementos secured an option to acquire a 90% interest in the Mercedes copper project.

Elementos is acquiring the Mercedes project through a series of options over four years, for a total consideration for the acquisition comes to $10 million.

The company is now responsible for managing and funding all exploration, evaluation and development of Mercedes.

Sign up to Proactive Investors

Andrew McCrea's Research Reports
Sign up to Andrew McCrea's Research Reports and Receive Latest Research & Flash Trades
Receive Proactive Investors Newsletter, Investor Forum Invites
Receive Proactive Investors Newsletter, Event Invites, Special Stock Notifications

Comments from Proactive Investors readers

  • Fill in your details below:
Verification Code
Andrew McCrea is Sub Authorised Representative (SAR: 291331) of Proactive Investors Australia Pty Ltd
(ABN: 19 132 787 654) which is a Corporate Auhorised Representative (CAR: 413802) of RM Capital
Pty Ltd (AFSL: 221938).

Copyright © proactiveinvestors.com.au, 2012. All Rights Reserved