An entirely United States focused exploration company with assets in Nevada and Idaho including the 100% owned Thor Heavy & Light Rare Earth Element Project (Nevada) located 16 miles (26 km) east of Molycorp's Mountain Pass rare earth mine and processing facility. Elissa's Thor REE Project is strongly represented in 8 of the heavy and in 5 of the light rare earth elements including dysprosium, neodymium, yttrium and terbium. Elissa also has compelling drill ready gold projects (Idaho and Nevada) with multi-million ounce discovery potential.

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Heavy Potential
Elissa Has Found Rare Earths in Nevada
~ By Ted Niles - July 6, 2011
Elissa Resources’ motto “Security in discovery” has a dual meaning. The interest. “There are no straight-up heavy rare-earth deposits,” McKenzie
first is the suggestion that company shares are a wise investment. But says. “You’re going to get a light deposit occasionally with a percentage
given that Elissa’s focus is on those mysterious but essential minerals of heavies. But in our case, of all the sampling we’ve got back, about 10%
known as rare earths, its secondary meaning, national security, makes it were heavies, and 90% were light. That’s significant.” McKenzie contrasts
particularly apropos. “Rare earths are very important economically,” says Thor with its neighbour 26 kilometres to the west, Molycorp’s Mountain
President and CEO Paul McKenzie, “particularly to economies as big as Pass Mine—the only producer of rare earths outside China, currently un-
the United States. And those counties are not producing rare earths.” dertaking a $531-million modernization and expansion program—and the
renowned Bayan Obo Mining District in Mongolia, both of which show un-
der 1% representation of heavy rare earths. “Because of their size they’re
going to produce some good amounts of heavies. But they’re certainly not
supporting world demand.”
McKenzie continues, “There are four metals that are deemed critical by
the US Department of Energy: neodymium, terbium, dysprosium and yt-
trium. We have some very strong representation of all of those. In fact, we
have strong representation in 13 of the 17 rare earth elements. The ones
we have strong representation of are the ones deemed most critical by
the US Department of Energy.”
Following further ground geophysical work and the acquisition of more
ground in the area, McKenzie anticipates drilling to begin “within a few
months.” He says, “Every time we’ve set foot on the property it’s become
more intriguing, more interesting, more exciting. But really the truth is go-
ing to be in the drill program. If that stacks up for us, then we’ll immedi-
China is: about 97% of them. And China, as a consequence of new ately expand that pretty aggressively.”
environmental regulations and quotas, has reduced its rare earths exports
by about 70%. McKenzie explains the consequences, “It causes the price McKenzie argues, “Even a small discovery could potentially be a fast track
of rare earths to skyrocket. And they’ve steadily done so over the past to production. And we know that [Molycorp] is looking for more heavy rare
couple of years; in the last six months alone they’re up 300% to 500%. earths. They’re becoming a pretty aggressive company; they’re smart.
And it scares the hell out of other countries because they cannot have I think what they’re really trying to do is to become to rare earths what
a steady source of rare earths, to the point where the United States is Cameco is to uranium. They want to be the dominant player. If we have
strongly considering stockpiling them.” something of size, even modest size, they may well be interested.”
There are 17 rare earth elements, and their uses defy enumeration. Elissa Resources has 28.8M shares, currently trading at $0.37 and a
“Pretty much everything we use in this modern world is entirely dependent market cap of $10.7 million. In addition to Thor, it has two gold projects:
upon them,” McKenzie says, “from computers to cell phones to hybrid Sage Creek in Idaho and St Elmo in Nevada. Both properties are “drill
cars, wind generation, lasers, fluorescent light bulbs.” He adds, “There are ready,” and McKenzie anticipates a Sage Creek drill program of “about
military applications, so the US does not want to get caught short.” This six to twelve holes of no less than 100 metres depth” will begin soon. He
is where Elissa’s Thor Project comes in: “We’re basically trying to create believes that both projects have “multimillion-ounce potential.”
domestic sources in the United States of rare earths.”
McKenzie concludes, “We have a significant advantage being next to Mo-
Thor comprises 183 contiguous claims, totalling 1,481 hectares, located lycorp. They are in the process of reopening, and they’re spending a billion
“
on the Nevada side of the Mojave Desert Region, about 120 kilometres dollars to do so—a vast majority of that going into their refining process
south of Las Vegas. Work to date has consisted of surface mapping, and refining facilities. This may give us an edge if we make a discovery.”
satellite imagery analysis, channel sampling and geochemical work, with
sample results as high as 10.6% REE. There is as yet no resource esti-
mate, but even now McKenzie is particularly excited. “We found a struc-
ture [the Lopez trend] 2.6 kilometres in length,” he reports, “and wherever
Every time we’ve set foot on the
this thing comes up out of the alluvial of the Mojave desert we’re getting property it’s become more intriguing,
very strong grades of both heavy and light earths on surface.” Elissa has
had similarly positive returns on its other two areas of focus: Black Butte more interesting, more exciting.
and NED.
– Paul McKenzie
The presence of these rare heavy rare earths makes Thor of unique
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