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Element 29 Announces Filing of Technical Report for Initial Mineral Resource Estimate at Its Elida Porphyry Copper Deposit in Peru
Inferred Mineral Resource of 321.7 million tonnes grading 0.32% copper, 0.03% molybdenum and 2...
About this update from Element 29 Resources, Inc.
[{"type":"text","content":"Element 29 Announces Filing of Technical Report for Initial Mineral Resource Estimate at Its Elida Porphyry Copper Deposit in PeruInferred Mineral Resource of 321.7 million tonnes grading 0.32% copper, 0.03% molybdenum and 2.6 g/t silver with a low 0.74:1 strip ratioVancouver, British Columbia--(Newsfile Corp. - November 14, 2022) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (\"Element 29\" or the \"Company\") has filed the independent technical report in connection with an initial Inferred Mineral Resource Estimate (\"Mineral Resource\") at its Elida Porphyry Copper Deposit (\"Elida\") in west-central Peru (Figure 1).The technical report, titled, \"NI 43-101 Technical Report Mineral Resource Estimation of the Elida Porphyry Copper Project in Peru\" dated November 10, 2022 (the \"Technical Report\"), with an effective date of September 20, 2022, was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Mineral Resources, Ginto Consulting, Inc. (\"Ginto Consulting\"), and Steve Park, C.P.G, M.Sc., Independent Consultant. Refer to the Company's news release dated September 27, 2022, for a summary of the key results, assumptions and estimates contained in the Technical Report. The Technical Report was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") and is available under the Company's SEDAR profile and on the Element 29 website. Elida Mineral Resource Highlights Pit-constrained, Inferred Mineral Resource Estimate of 321.7 million tonnes grading 0.32% copper (\"Cu\") (for a total of 2.24 billion pounds of contained Cu) plus 0.029% molybdenum (\"Mo\") and 2.6 g/t silver (\"Ag\"), using a 0.20% Cu cut-off grade and low modeled strip ratio of 0.74:1 (waste: mineralized material). See Table 1 and Figure 2.A near surface, higher-grade subset of the Mineral Resource consisting of 34.1 million inferred tonnes at 0.55% Cu, 0.037% Mo, and 4.4 g/t Ag (at a cut-off grade of 0.45% Cu) has potential to be mined with minimal stripping in the initial years of mining. Significant Mo and Ag grades have the potential to enhance the economics of the deposit, subject to metallurgical test work. This Mineral Resource Estimate was completed on one of five porphyry centres at Elida and provides a solid foundation for future engineering studies as well as enh...