Elysium Resources (ASX: EYM)

 
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Until now, Western Australia’s Pilbara miners have fixed their attention on iron ore. Yet this focus is rapidly shifting, with encouraging gold discoveries rousing explorers to vie for a chance to strike it rich.

Elysium Resources Limited (ASX:EYM)has just entered into a binding agreement to acquire Hardey Resources’ prospective gold and base metals projects in WA’s Pilbara and Paterson regions. The projects are each prospective for conglomerate-hosted gold and high grade orogenic gold.

This acquisition elevates EYM into the Pilbara region as a genuine explorer with a highly prospective conglomerate-hosted gold tenement portfolio, supported by an experienced management team.

EYM will commence an exploration program almost immediately, targeting the conglomerate-hosted gold potential of Hardey’s portfolio of projects.

The Next Small Cap has already introduced its readers to a number of ASX-listed Pilbara gold explorers that have has some impressive returns in recent months. Artemis Resources (ASX:ARV) and De Grey Mining (ASX:DEG), are up 450% and 480%, respectively since early July, while Kairos (ASX:KAI) is up more than 350%.

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

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This initial phase of the exploration program to confirm the gold-bearing nature of the prospective conglomerate sequences which have been identified within Hardey’s tenure, will take around three to four weeks to complete.

Significant results will be reported as they are received, which should make for some attention grabbing newsflow.

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