Elray Resources, Inc. (ELRY.OB) is a junior exploration and development corporation with an established portfolio of highly prospective, heavily mineralized mining tenements in South East Asia and North America. The company intends on becoming a multi-region exploration and production mining company, holding multiple properties and focused on responsible exploration of mineral resources and maximizing shareholder value.
Founded by senior executives and geologists with experience with the major gold production companies, Elray Resources has a duel strategy of identifying high value properties to prove up resources and acquiring properties that can quickly be brought to production stage for gold and other resources. The company continues to actively seek out new highly prospective properties across the globe to add to their portfolio of highly mineralized properties in South East Asia and North America.
The Prophyry Creek Project is a multiple style mineralization property. Elray Resources has observed and sampled an interesting new style of mineralization for Cambodia on the southwestern edge of the land, which suggests there is copper porphyry that underlies the project, located directly beneath the sampled outcrop or proportionally next to it. A select sample of the chalcopyrite and malachite/azurite micro-veining appearing near vertical in fairly close spacing produced results up to 1% copper in the quartz rich granodiorite outcropping in the steam and banks of a small drainage. This is a significant finding which holds great potential value.
The company also found fracture controlled copper mineralization and weak to moderate alteration with a small amount of disseminated copper mineralization within the altered granitic rock mass. This finding has major significance as it may represent the surface expression of a deeper seated copper or copper-gold type porphyry mineralization target. The company is not aware of any suspected porphyry deposits in Cambodia and the possibility of one of these as a major target could alter the level of mineral exploration in the county.
Utilizing geological maps, the company plotted known sites according to the geological settings with sampled projects. This showed the presence of mapped intrusive that could centrally be located or proximal enough to drive a hydrothermal system to create some of the observed metal occurrences. The intrusives have been mapped even showing segregation and possible complex emplacement late into a preexisting mixed assemblage of rocks. The suggested structural setting is complex and extensive and the timing of the intrusives is similar to other porphyry deposits in Asia.
About QualityStocks:
QualityStocks’ Small Cap Stock Newsletter is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.
Sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
The Quality Stocks Daily Stock Report http://video.qualitystocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment