ELEMENTOS LIMITED — Regulatory Filings 2012

Dec 19, 2012

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20 DECEMBER 2012

DIVISORIA PORPHYRY-RELATED MINERALISATION EXTENDED

Highlights

• Disseminated gold and silver anomalies extended within the chargeability anomaly at the Divisoria porphyry prospect

• New high-grade gold and silver veins and breccias identified

• The potential of the Santo Domingo mineralised system continues to grow with new high grade structures and the expanding porphyry system

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to report new exploration advances at the Divisoria prospect at the Santo Domingo project, Argentina.

Follow-up mapping and sampling of targets identified by the recent geophysics successfully identified alteration and geochemical anomalies that appear to represent porphyry mineralisation in a number of areas not previously recognised.

Highlights from both porphyry-style veinlets and disseminated sulphides, and late stage cross-cutting veins and breccias within the geophysical anomaly include:

Sample type and material	Length	Assay results
Representative panel samples of stockwork veinlets in a porphyry with phyllic alteration	3.0 m 2.0 m 2.0 m	 0.6 g/t gold  0.28 g/t gold  0.31g/tgold
Selective samples of only the “B and D-type” veinlets from within the potassic and phyllic alteration zone	0.2 m 0.2 m 0.1 m 0.4 m	 19.8 g/t gold and 15 g/t silver  9.7 g/t gold  6.7 g/t gold and 10.8 g/t silver  1.18g/tgold and 186g/t silver
Representative samples in late- stage veins and breccias	0.8 m 0.1 m	 7.4 g/t gold and 84 g/t silver  43.1g/tgold and 19.7g/t silver

These samples are all from new localities and represent a significant expansion of the previously recognised mineralisation zone. Recent flooding has exposed new outcrops in the gully bottoms, highlighting the potential for significant new discoveries in the poorly exposed area.

Significantly, a new occurrence of intermediate sulphidation epithermal mineralisation (ISE), the first at Divisoria, has been identified, and is situated two kilometres from the existing ISE prospects. This implies a far wider potential distribution than realised to date.

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New Disseminated Mineralisation at the Divisoria Prospect

Follow-up mapping and sampling at the Divisoria porphyry prospect, targeting anomalies highlighted by the 2011 Pole-Dipole Induced Polarisation (“PDIP”) and Audio Magneto Telluric (“AMT”) geophysics programs, has significantly expanded the previously identified disseminated and stockwork mineralisation on surface, within the footprint of the geophysical anomalies.

Additionally, flash-floods during summer storms earlier in the year have opened new outcrops along the streambeds, exposing new areas of alteration and mineralisation, which is significant since it highlights the potential to extend the mineralised system within the area already studied.

New Epithermal Structures Identified at Divisoria

Narrow, sheeted veinlets of high-grade mineralisation in a strongly altered north-east trending shear-zone, similar to the ISE mineralisation at Yvette and El Arriero West, have been discovered 250 metres north of the Divisoria porphyry prospect. These are important as they are located on the rim of the circular feature that appears to encompass most of the strongest porphyry-style mineralisation, similar to the occurrences recently identified in El Arriero West, but three kilometres from the nearest location of a similar style. Localised sampling returned:

o 0.2 metres at 43.1 g/t gold and 19 g/t silver.

Localised trenching and representative sampling are required to test this prospect.

New High-Grade Structures Identified at Divisoria

Several narrow, high-grade structures have been discovered cross-cutting the earlier porphyry mineralisation, within the metamorphic host rocks. These structures predominantly trend to the north-west, with a lesser set to the north-east.

The narrow, high-grade structures are characterised as follows:

• Silicified breccias with oxide matrix, mostly crosscutting early porphyry mineralisation:

• 0.8 metres at 7.4 g/t gold and 84 g/t silver (Figure 1).

This is on the same trend where previous sampling returned:

• 3.22 g/t gold, 50 metres to the south.

• Narrow quartz veins (gold–silver plus polymetallic) cross-cutting both porphyry mineralisation and metamorphic basement, where previous sampling returned values up to:

• 0.2 metres at 5.6 g/t gold;

• 0.3 metres at 38.8 g/t gold; and

• 0.2 metres at 4.8 g/t gold.

Although not stand-alone targets, these have the potential to increase the overall grade of the deposit by intercepting blind structures at depth.

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Figure 1: North-west structure (between dotted red lines), which returned 0.8 metres at 7.4 g/t gold and 84 g/t silver. The structure is hosted in phyllic altered dacite porphyry. A previous sample in phyllic altered host rock returned about 0.27 g/t gold.

Exploration Potential

The Santo Domingo project exhibits two distinct styles of mineralisation that need to be further tested for their economic potential:

• low grade–high tonnage, gold–copper disseminated porphyry mineralisation; and

• peripheral, high grade–low tonnage gold-silver polymetallic narrow structures.

The geology appears typical of Andean-style porphyry emplacement, with the addition of the shear-hosted mineralisation around the periphery of the system, which has now been recognised in two newly exposed localities. The main targettypes are:

• Gold-copper porphyry systems at:

• Divisoria - the larger and most prospective of the porphyry targets;

• El Arriero and El Arriero Extension - high-level expression of a porphyry system; and

• Alunita - largely untested prospect with intense alteration.

• High-grade, gold, silver and base-metal shear zones at:

• Yvette and Yvette Norte - intersecting trends of mineralised shearzones; and

• The newly discovered El Arriero West and Divisoria North prospects.

At the Divisoria gold-copper porphyry prospect, disseminated sulphides enclosed within the phyllic alteration assemblage correlate strongly with the chargeability anomaly from surface to beyond 300 metres depth.

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Partnering Process

The Company is currently in discussions and undertaking site visits with a number of parties interested in acquiring or joint venturing the project.

For more information, please contact:

Corey Nolan

Managing Director Phone: +61 (7) 3221 7770 Email: admin@elementos.com.au

Elementos is an Australian, ASX-listed, copper and gold exploration company, with projects in Argentina, Chile and Australia. The properties are all in mineral rich, highly prospective provinces, with developed infrastructure nearby.

Please visit us at www.elementos.com.au

SAMPLE QUALITY CONTROL AND ASSURANCE

Gold assay results presented above are finals and have been calculated using a 0.5 g/t gold cut-off grade. Gold intervals are weighted averages of sample length multiplied by gold grade.

Samples were prepared at the Acme Analytical Laboratories (“AcmeLabs”) preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the AcmeLabs laboratory in Chile and for ICP-MS 32 elements (15 grams charge) at the AcmeLabs laboratory in Vancouver, all ISO-9001:2000 certified laboratories. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Samples returning greater than 1% lead and / or greater than 1% zinc are assayed using aqua regia digestion ore grade / AAS.

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Gustavo Delendatti, a member of the Australian Institute of Geoscientists. Mr Delendatti is a full-time employee of Elementos Ltd and its subsidiaries, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which it is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the „Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.‟ Mr Delendatti consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Northern
Divisoria
El Arriero
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Figure 2: Location of main prospects at Santo Domingo Project

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Table 2: New assay results at Divisoria prospect.

Sample ID	Sample type	Sample length (m)	Gold (g/t)	Silver (g/t)	Rock Type	Prospect
4951	Rock chip	2	0.016	-1	Dacite	Divisoria
4952	Rock chip	2	0.069	-1	Dacite	Divisoria
4953	Rock chip	0.2	19.80	15	Quartz Veinlets	Divisoria
4954	Selective	0.1	0.334	2	Quartz Veinlets	Divisoria
4955	Selective	0.1	1.467	6	Quartz Veinlets	Divisoria
4956	Rock chip	2	0.009	-1	Andesite	Divisoria
4957	Selective	0.1	0.082	-1	Quartz Veinlets	Divisoria
4958	Rock chip	2	0.033	-1	Andesite	Divisoria
4959	Rock chip	2	0.055	-1	Andesite	Divisoria
4960	Rock chip	2	0.280	7	Dacite	Divisoria
4961	Float	2	0.042	2	Breccia	Divisoria
4962	Float	2	0.038	4	Breccia	Divisoria
4963	Selective	0.1	43.1	19.7	Quartz Veinlets	Divisoria
4964	Rock chip	2	0.061	0.8	Dacite	Divisoria
4965	Rock chip	2	0.076	0.4	Breccia	Divisoria
4966	Rock chip	2	0.028	-0.3	Dacite	Divisoria
4967	Rock chip	2	0.075	-0.3	Breccia	Divisoria
4968	Rock chip	2	0.018	0.3	Breccia	Divisoria
4969	Rock chip	2	0.018	0.9	Breccia	Divisoria
4970	Rock chip	2	0.076	1.6	Breccia	Divisoria
4971	Rock chip	1	0.033	2.2	Dacite	Divisoria
4972	Rock chip	0.2	0.078	-0.3	Structure	Divisoria
4973	Rock chip	2	0.316	-0.3	Breccia	Divisoria
4974	Rock chip	0.4	1.186	186	Structure	Divisoria
4975	Selective	0.1	1.353	8.4	Quartz Veinlets	Divisoria
4976	Rock chip	2	0.047	2.5	Dacite	Divisoria
4977	Rock chip	2	0.049	1	Dacite	Divisoria
4978	Rock chip	0.1	6.7	10.8	Structure	Divisoria
4979	Selective	0.8	7.422	83.9	Structure	Divisoria
4980	Rock chip	0.2	9.7	25.1	Structure	Divisoria
4984	Rock chip	2	0.263	1	Dacite	Divisoria
4985	Rock chip	2	0.161	1	Dacite	Divisoria
4986	Rock chip	1.5	0.149	6	Dacite	Divisoria
4987	Rock chip	1	0.07	2	Dacite	Divisoria
4988	Rock chip	1.5	0.144	4	Dacite	Divisoria
4989	Rock chip	1	0.057	1	Dacite	Divisoria
4990	Rock chip	0.3	0.067	<1	Structure	Divisoria
4992	Rock chip	1.5	0.053	1	Breccia	Divisoria
4993	Rock chip	1.5	0.026	1	Breccia	Divisoria
4994	Rock chip	3	0.601	6	Dacite	Divisoria
4995	Rock chip	2	0.119	3	Dacite	Divisoria

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Sample ID	Sample type	Sample length (m)	Gold (g/t)	Silver (g/t)	Rock Type	Prospect
4996	Rock chip	1	0.142	<1	Breccia	Divisoria
4997	Rock chip	0.8	0.055	<1	Structure	Divisoria
4998	Rock chip	2	0.018	2	Dyke	Divisoria
4999	Rock chip	1.5	0.017	2	Dacite	Divisoria
5000	Rock chip	1	0.26	13	Dacite	Divisoria
4570	Rock chip	1.5	0.028	2	Dacite	Divisoria
4571	Selective	0.05	15.2	65	Quartz Veinlets	Divisoria
4572	Rock chip	1.5	0.026	<1	Metamorphic	Divisoria

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