Today, as always, copper is one of the most essential materials in our everyday life. And the element on the periodic table known as ‘E29’ represents a vitally strategic source of one of the world’s most crucial base metals. Brought on by the explosion in the burgeoning electric vehicle (EV) market, global electrification, transportation equipment, and home appliances…copper is one of earth’s most important metals. It has been so for nearly 5,000 years.
Back in March, Stockhouse Editorial introduced our investor audience to one of the leading companies in discovering new copper assets in South America -
Element 29 Resources Inc. (
TSX-V.ECU,
OTC: EMTRF,
Forum) – an advanced copper explorer focused on advancing a portfolio of Peruvian projects – including its flagship copper porphyry
Flor de Cobre project located in southern Peru and its
Elida porphyry copper-molybdenum-silver project located in central Peru.
Since then the company has been making waves, and not of the famous surfing varieties off the coast of Peru.
Both projects are at low elevations, near infrastructure with strong community support in prolific copper-producing regions.
In the News
Most recently, Element 29 reported initial drilling results from its Elida Copper Project. And the results were exciting, to say the least.
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Elida Highlights:
- Drill hole ELID019 intersected 383.75 metres ("m") of 0.54% copper ("Cu"), 0.035% molybdenum ("Mo"), and 4.2 g/t silver ("Ag") for 0.71% copper equivalent1 ("CuEq"). See Figure 2. The vertical hole was collared to test the vertical continuity of strong Cu-Mo mineralization intersected by ELID012, which was drilled in 2015.
- Drill hole ELID020 intersected 308 m of 0.43% Cu, 0.028% Mo, 3.9g/t Ag (0.56% CuEq1). See Figure 3. This hole was drilled to test the southward continuation of mineralization intersected by ELID015.
- Low arsenic ("As") grades (e.g., less than 50 ppm) were encountered in both holes in association with good copper mineralization. This suggests arsenic levels within a copper concentrate should be well within smelter acceptable limits.
- Sulfide mineralization extends to the bedrock surface, situated beneath 30-100 m of unconsolidated colluvial gravel.
Richard Osmond, Chairman and Interim CEO, commented:
"The initial drill results from Elida are very encouraging. The long, well-mineralized intervals from the first two holes demonstrate that attractive copper grades extend down from the bedrock surface with good vertical continuity. This higher-grade portion of the mineralized zone remains open at depth and will require further drilling to determine its vertical and lateral extents. The copper grades are complemented by molybdenum grades, which are significantly higher than many well-known porphyry copper deposits. We are also very fortunate to have low arsenic concentrations associated with our copper mineralization, which is critical to the production of a saleable copper concentrate. The attractive drilling results to date enhance our belief that Elida can be a large-scale copper project benefitting from low elevation and proximity to important power and transport infrastructure."
Click
HERE to listen to Richard Osmond discuss the highlights of the recent press release.
About the Elida Project
Elida is a porphyry copper-molybdenum exploration project within a property composed of 28 mining concessions totaling 19,000-plus hectares that are 100% owned by Elida Resources – a Peruvian subsidiary of Element 29. The property contains a large, 2 x 2 kilometre alteration system enclosing a cluster of porphyry centres that represent five distinct exploration targets. A first-pass drill program consisting of 18 diamond drill holes totaling 9,880 metres completed in 2014-15 identified significant copper, molybdenum, and silver mineralization associated with a QMP stock at Target 1. The remaining four large targets are untested. Under the current drill permit, the Company can elect to drill-test all identified targets.
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The Project is located in central Perú, approximately 85 kilometres inland from the Pacific coast at moderate elevations between 1,500 and 2,000 metres and close to transportation and power infrastructure, including a 45 mega-watt hydroelectric generation facility situated 15 kilometres from the Project.
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But there’s more to come from the company. Expect drill results from the four remaining drill holes at Elida in Q4 2021 which should allow Element 29 to publish a maiden mineral resource on the Project. Meanwhile at Flor de Cobre, investors can expect drilling to start in Q1 2022 there following the completion of the Elida drill program. So lots of catalysts to come!
Here’s the company’s
corporate presentation.
To find out more, visit
www.e29copper.com.
And be sure to follow them on
Twitter,
Linkedin and
YouTube so you don’t miss a thing.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.