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Thread: ELT - Elementos

  1. #1

    Default ELT - Elementos

    Hi All

    This IPO is in the market and MPS is underwriting this. ORE shareholders are getting a priority allotment so are the clients from MPS.

    I would be interested if any one can give some highlights up or down about this IPO. Market is difficult to assess considering MYER IPO got south and Kathmandu IPO got north.

    Some extract for heads up

    Elementos is offering up to 33,000,000 fully paid ordinary Shares at $0.25 (25 cents) per Share to raise $8,250,0000 in an Initial Public Offering. Martin Place Securities Pty Ltd is Sponsoring Broker and has Underwritten $6,250,000 of the IPO.

    An overview of Elementos is as follows:

    · Elementos (ELT) has been established through the spin-out of primarily copper-gold assets of Orocobre Limited (ASX: ORE)

    · The key project is the major copper gold molybdenum project in Argentina

    · ELT will be targeting resources in established world-class and emerging mineral provinces, focusing on gold and base metals as a priority

    · ELT will IPO with six projects in three mineral provinces in two countries, Argentina and Australia

    · Argentina − Projects located in San Juan province which is now established as a world class minerals province. The properties include: Santo Domingo copper-gold porphyry and Manantiales gold-silver epithermal vein

    − The key Santo Domingo project - large ground position established – 215km2, targeting major copper-gold-molybdenum porphyry system with three major target zones identified.

    − Manantiales - located directly north and adjoining Troy Resources’ Casposo gold project

    − Manantiales has two main target areas with strongly anomalous geochemistry, Manantial - the strike extension of the Casposo main reserve and La Puerta - the strike extension of the TRY’s Julieta vein zone

    · Australia – Project located around Mt Isa (Inlier minerals province) and Northern NSW.

    − Mt Isa prospect comprises the Millenium cobalt project Mt

    − Northern NSW comprises prospective emerging minerals province with gold and polymetallic mineralisation targets

    · IPO targeting raising $6.25M - $8.25M to fund exploration over the next 2 years

    · Elementos’ prospectus was lodge on 6 November 2009 with Shares now being offered at $0.25 per share, with a minimum application of $2,000 (8,000 shares)

    · Elementos’ share offer opened on 16 November 2009 and closes on 7 December 2009, with Shares expected to commence trading on the ASX on 17 December 2009
    Miner :
    All sellers are inevitably, and by the meaning of the word, buyers so DYOR .

  2. #2
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: ELT - Elementos

    Current SP - 7c
    Shares - 82m
    Options - 9.7m (varies expiries and strike price)
    Cash - $2.6m
    MC - $5.7m

    • At the Elvira porphyry prospect, IP geophysics identifies a weak chargeability anomaly at a depth considered uneconomic
    • Copper oxide potential remains prospective, to be assessed through on-going mapping and sampling programs

    Valentina Vein
    The Valentina vein is situated 2.5 kilometres east of the Manantial vein and 2.5 kilometres west of the La Puerta prospect. Initial representative rock chip samples have returned high-grade gold values with anomalous silver.
    Highlights include:
    • Three high-grade rock chip samples returning 17.9 g/t gold and 36 g/t silver, 12.7 g/t gold and 26 g/t silver, and 10.1 g/t gold and 27 g/t silver;
    • An additional five rock chip samples above 4.0 g/t gold including peaks of 8.59 g/t gold and 9 g/t silver; and
    • The structure remains open along strike with samples in the northern and southern ends returning 6.91 g/t gold and 12.7 g/t gold respectively
    • A cluster of new prospective vein targets identified in close proximity to the Manantial, Manantial Este and La Puerta veins
    • Initial rock chip sampling at the new Valentina vein prospect returned high grade gold up to 17.9 g/t and silver up to 36 g/t
    • Potential for multiple new high-grade gold-silver vein systems within the Manantiales project
    Other New Vein Systems
    A number of additional, relatively unexplored, vein targets have been identified. Initial sample results include:
    • Colorados - a quartz-calcite vein 150 metres long and 0.5 to 2 metres wide. Channel sampling returned best values of 0.5 metres at 5.38 g/t gold, 0.8 metres at 2.16 g/t gold and 0.65 metres at 0.89 g/t gold;
    • Colorados Sur - two parallel quartz–calcite veins, 1.5 km south of Colorados. Channel sampling returned best values of 0.64 metres at 1.48 g/t gold and 1.5 metres at 0.79 g/t; and
    • Gabo vein - located 0.8 km east of Colorados vein. A 190 metre long quartz–calcite vein in discrete outcrops with widths between 0.5 to 7 metres. Channel sampling returned best values of 0.68 metres at 3.15 g/t gold, 0.57 metres at 2.26 g/t gold, 0.82 metres at 1.85 g/t gold and 1.15 metres at 1.43 g/t gold.

    For full information about Tamaya see investor presentation below.

    Santo Domingo
    Partnering Strategy
    The Company believes the two recent geophysical programs, in conjunction with the extensive investment in exploration over the last three years, have demonstrated that Santo Domingo has strong potential to host a world-class porphyry deposit. Defining and ultimately developing the potential resources will require a substantial investment, including additional geophysics, deep drilling and related infrastructure. The board considers that the best strategy is to seek a joint venture partner, with the financial capacity to explore and develop a large porphyry target, to complement the Company‟s technical understanding of the project.
    Divisoria Phase II Geophysical Survey Results
    The results of the second phase geophysical survey demonstrates a large, high-chargeability anomaly closely correlated with the magnetic low, disseminated gold–copper mineralisation and contact-breccias already recognised on surface. The anomaly is 1,000 by 600 metres in size and interpreted as approximately 300 metres deep, remaining open to the north, south and at depth.
    The survey incorporated four lines totalling 7.5 linear-kilometres of both Pole-Dipole Induced Polarisation (“PDIP”) and Audio Magneto Telluric (“AMT”) geophysics.
    The aim of the PDIP survey was to identify chargeability anomalies (potential zones of sulphide mineralisation) at shallow to moderate depths beneath the surface. The results are highly encouraging and demonstrate a pattern of chargeability and resistivity within magnetic low areas. This potentially relates to porphyry mineralisation over a larger area than mapped on surface.
    The AMT survey tested the resistive response of the rock down to approximately 800 metres depth, beyond the depth potential of the PDIP. Unfortunately, this survey produced poor quality data and lacked resolution at depth on three of the four lines, and was considered unreliable.

    • Two further Exploration Permits approved in the world-class Mt Isa district
    • Elementos now holds 248 km² of exploration permits over a mineralised trend, in close proximity to deposits including Rockland, Roseby and Dugald River
    • Exploration on the company’s existing Mining Leases1 on the Corella fault zone has identified strong copper, cobalt, gold and Rare Earth Element anomalies
    Next Steps
    The Company is currently working towards the consolidation of its land package in the district. Outstanding ground positions to be secured include:
    • 74 km² of additional EPMs subject to granting; and
    • Exercise of the Option-to-Purchase agreement with Forte Energy NL to acquire 134 Hectares of Mining Leases. The Mining Leases are currently subject to renewal and this process is nearing completion.
    Future exploration activities will involve:
    • Ground-magnetometry geophysical surveys of the Corella structure, including the zone of cobalt and copper anomalies already identified;
    • Drilling to confirm the cobalt and copper grades from historical drill holes;
    • Testing for the presence of Rare Earth Elements and Yttrium; and
    • Drilling deeper into structures showing mineralisation.

    There were no exploration activities at Cathedral Rocks during the quarter.

    Tightly held, rarely traded, has drifted on very low volume over the last 6 months. Manantiales looks to far out of the way of historic discoveries. Tamaya is slightly to the left of a line of existing mines, and with a little bit of luck could be something. I will be watching this.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  3. #3
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: ELT - Elementos


    Elementos announce a planned second phase geophysical survey at the Tamaya Project, central Chile.
    The Induced Polarisation Pole-dipole (“IPPD”) survey will test for two styles of mineralisation:
    • Porphyry mineralisation in the eastern sector as indicated by the encouraging results of the recent mapping, sampling and ground magnetometry survey; and
    • Structurally related mineralisation in the three main north-south structural trends, including the main vein that was historically mined for high-grade copper (sulphide) mineralisation.

    Porphyry Target
    The ground magnetometry survey completed in April 2012 outlined a large magnetic anomaly (Figure 1) that is related with evidence of porphyry mineralisation in the eastern sector of the property. The IPPD survey will test for chargeability anomalies (the presence of potential sulphide mineralisation related to the porphyry) within the magnetic anomaly.
    Moreover, Elementos’ mapping has identified evidence of potential porphyry related mineralisation similar to that at the Carmen de Andocollo mine, 40 kilometres to the north, and at the Llhaium deposit, 85 kilometres to the south, including:
    • Porphyry clasts with disseminated mineralisation within breccia structures in the Eastern zone;
    • Strong potassic alteration in association with the high-grade mineralisation in structures in the Eastern and Central zones, grading to moderate in the Northern and Tortolas prospects;
    • Multiple porphyry mineralisation related features, including:
    o Calcite-sulphide veining with very high-grade copper mineralisation;
    o Phreatomagmatic breccias, including a magnetite rich matrix and minor copper mineralisation in the matrix and as clasts;
    o Silica-sulphide breccia, veinlets and stockwork with 2% to 7% copper;
    o Tourmaline breccias with minor disseminated mineralisation in the matrix; and
    o “A-type” texture veinlets and stockworking in the Eastern, Central and Tortolas prospects with calcite, silica or magnetite-specularite fill.
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill


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