Elissa Resources has reported 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.