Another finance commentary from 2014, on the Burraga area Plenty...

Another finance commentary from 2014, on the Burraga area
Plenty of potential, just need a bit of luck with the drill bit.
Elysium extends Lloyds copper mine


Elysium Resources Limited (ASX: EYM) has intersected multiple sulphide-bearing horizons in all five holes at the Lloyds copper mine, which may prove to be lateral extensions of known ore bodies.
The Lloyds mine is part of the broader Burraga copper-gold project in New South Wales, consisting of three contiguous exploration licenses surrounding the highly prospective Burraga Granite.
The Burraga region is in the heart of the world-class Lachlan Fold Belt, which is renowned for its base and precious metal deposits such as Cadia-Ridgeway.
EYM's licenses encompass highly productive historical mine sites, namely the Lloyds copper mine (19,443 tonnes grading between 3.5% and 4.1% copper) and the Lucky Draw gold mine (1.4 million tonnes grading 4.2 grams per tonne gold), as well as the highly prospective Isabella and Hackneys Creek gold prospects.
Mineralisation at Lloyds copper mine is complex, but is characterised by stacked lenses which have some characteristics of an epithermal-style system. The mine also has two existing slag dumps, totaling 90,000 tonnes grading 1.3% copper (all indicated, no cut-off) and a drill proven tailings resource of 280,000 tonnes grading 1.2% copper, once again all in the indicated category with no cut-off.
To date, drilling at Lloyds has targeted mineralised horizons based on previous models further to the east than had previously been drilled, with the company aiming to intercept mineralisation down dip.
Core from the 2015 drilling program and exploration holes within the Lloyd's prospect are currently undergoing sample preparation for further analysis.
EYM will undertake a 2,000 metre reverse circulation drilling program to assist in establishing gold targets at Hackney's Creek.
Similarly, a soil sampling program at the Isabella gold prospect will be undertaken over an identified prospective area in order to establish future drill targets.