Ann: Basalt conglomerate gold discovery at Bellary Project, page-3

GOLD NUGGETS DISCOVERED IN HARDEY FORMATION BASALT CONGLOMERATE
Highlights:
• Gold nuggets (6) discovered in Hardey Formation basalt conglomerate via metal detecting over a 50m strike extent (Figure 1).
• Basalt conglomerate unit outcropping 30m to the north (Figure 2).
• Flat – pitted watermelon seed gold nuggets and coarse gold present.
• Gold nuggets spatially correlate to one of the 5 radiometric anomalies identified within the Lower Fortescue Group.
• Initial rock chip assay results received, with a best result of 3.89% Cu and 0.9g/t Au (HR0002) sampled within outcropping quartz vein.
• Prospectors are reminded that E47/3578 is a granted exploration tenement and therefore access is not allowed without company permission.

Elysium Resources Limited (ASX:EYM) (EYM or the Company) is pleased to announce gold nuggets (6) have been discovered by metal detecting (Refer to Table 1 for GPS locations) at the Bellary Project, 30km north-west of Paraburdoo, shedding from the Hardey Formation basalt conglomerate. Metal detecting by experienced prospectors has identified a goldbearing alluvial horizon which may be shedding from the observed outcropping Hardey basalt conglomerate within close proximity. The trend of the nuggets found and the outcropping conglomerates supports the hypothesis that the nuggets source is potentially the auriferous gold-bearing basalt conglomerate.

Furthermore, three outcropping parallel quartz veins have been mapped within close proximity to where the gold nuggets were discovered. Rock chip sampling at this locality returned anomalous results of 3.89%Cu and 0.9g/t Au in sample HR0002 (Appendix 1). The presence of both basalt conglomerate units and significant quartz veining, in EYM’s view, is very encouraging as it opens up the Bellary Project to both Witwatersrand paleo-placer style mineralisation and higher grade orogenic style mineralisation similar to Northern Star’s Paulsens mine in the Pilbara.

Elysium’s geological team is in the final stages of the Phase 1 field programme with results expected in the coming weeks.​