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Element 29 Continues Potential Resource Expansion Drilling at Its Elida Porphyry Cu-Mo-Ag Deposit in Perú
Newsfile·2025-09-03 13:35

Core Viewpoint - Element 29 Resources Inc. has initiated a new exploration drilling program at its Elida Porphyry Cu-Mo-Ag Deposit in central Peru, aiming to unlock significant resource growth and expand the existing mineral resource estimate [1][2]. Group 1: Drilling Program Details - The drilling program will consist of up to 7,000 meters of diamond drilling, targeting resource expansion beyond the current pit shell to depths exceeding 1,000 meters [3]. - The program includes infill drilling to enhance confidence in the existing mineral resource and improve overall Cu-Mo-Ag grades [3]. - The exploration drilling will utilize a 3D resistivity model from a recent geophysical survey to identify high-priority untested targets [3]. Group 2: Previous Drilling Results - Previous drilling has confirmed higher-grade Cu mineralization extending beyond the current inferred mineral resource estimate, indicating strong growth potential for the Elida deposit [2][4]. - Notable results from drill hole ELID033 included 1,039.6 meters of 0.54% CuEq, with a significant portion showing higher-grade mineralization [5]. - Drill hole ELID036 is expected to enhance overall Cu-Mo-Ag grades and potentially expand resources beyond the current pit shell, targeting a large low-resistivity anomaly [7]. Group 3: Project Location and Infrastructure - The Elida deposit is located within a block of 29 contiguous concessions totaling 19,159.06 hectares, easily accessible from Lima, Peru [8]. - The project benefits from nearby infrastructure, including transportation routes to coastal shipping ports and a hydroelectric generation facility located 15 kilometers from the property [9]. Group 4: Mineral Resource Estimate - An independent pit-constrained Inferred Mineral Resource Estimate outlined 321.7 million tonnes of 0.32% Cu, 0.029% Mo, and 2.61 g/t Ag at a 0.2% Cu cut-off grade [12]. - The mineralization has been traced to depths greater than 900 meters, remaining open for further exploration [11].