"ELYSIUM RESOURCES LIMITED ENTERS INTO BINDING AGREEMENT TO ACQUIRE PROSPECTIVE GOLD AND BASE METALS PROJECTS IN WA’S PILBARA AND PATERSON REGIONS"
"By way of background, in November last year, Hardey applied for an Exploration Licence covering 163km² of ground prospective for Witwatersrand-style conglomerate-hosted gold and high grade orogenic gold in the Paraburdoo region of Western Australia. Subsequent to the recent land rush in April – October this year (Figure 2), whereby Novo and other ASX listed entities pegged ground surrounding Hardey, the Hardey shareholders identified and pegged further licences resulting in a tenement package which comprises 512km² of Fortescue Group Rocks and the underlying Pilbara granite-greenstone terrain. Subject to completion of the Acquisition, EYM will hold a significant tenement package that is prospective for Paleo-Placer ‘Witwatersrand-style” conglomerate-hosted gold mineralisation similar to the discoveries reported recently in the region by Novo Resources Limited (TSX-V: NVO) and Artemis Resources (ASX: ARV) at Purdy’s Reward and OscarWits and, most recently, by De Grey Mining (ASX: DEG) at the Loudens Patch prospect."
Has been trading at cash, so plenty of upside. Lets see how far the wits hype pushes it.
