ELYSIUM RESOURCES LIMITED ENTERS INTO BINDING AGREEMENT TO ACQUIRE PROSPECTIVE GOLD AND BASE METALS PROJECTS IN WA’S PILBARA AND PATERSON REGIONS
Highlights:
- EYM has entered into a binding agreement pursuant to which it has conditionally agreed to acquire Hardey Resources Pty Ltd (Hardey).
- Hardey owns gold and base metal projects located in the Pilbara region of Western Australia, being the Bellary, Hamersley, Cheela and Elsie North Projects, covering 512km² of Fortescue Group Rocks, as well as the Grace Project located in the Paterson Province in Western Australia (together, the Hardey Projects).
- On completion, EYM will have a 100% ownership interest in Hardey and the Hardey Projects.
- Hardey’s maiden exploration program to commence almost immediately targeting the conglomerate-hosted gold potential of Hardey’s tenement portfolio, initially focussing at the Bellary
- Exploration field crew currently mobilising to site to begin systematic quad bike- assisted soil and stream sediment sampling and prospecting across the Hardey Projects that outcrops within its tenement
- Exploration will focus initially on the 46 sites of interest identified by Hardey’s geologist that are located within the target stratigraphy of the Fortescue Group Rocks and, in some cases, supported by historic geochemistry gold
- Hardey employed prospectors will be working in conjunction with EYM geological field team. Phase 1 of the program is expected to take 3-4 weeks to complete and significant results will be reported as they are
Elysium Resources Limited (ACN 115 593 005) (ASX: EYM) (EYM or the Company) is pleased to announce it has entered into a binding agreement (Agreement) pursuant to which it has agreed, subject to satisfaction of certain conditions precedent, to acquire 100% of the shares in Hardey from its current shareholders (Acquisition).
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