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Element 29 Drills 383.75 Metres of 0.71% CUEQ at the Elida Copper Project
Management will host a webcast at 2:00 pm ET October 19, 2021 to review the Project Vancouver...
About this update from Element 29 Resources, Inc.
[{"type":"text","content":"Element 29 Drills 383.75 Metres of 0.71% CUEQ at the Elida Copper ProjectManagement will host a webcast at 2:00 pm ET October 19, 2021 to review the ProjectVancouver, British Columbia--(Newsfile Corp. - October 18, 2021) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (\"Element 29\" or the \"Company\") is pleased to announce results from the first two drill holes of a six-hole, 4,000 metre drilling program in progress at its 100% owned Elida Copper Project (\"Elida\" or \"the Project\") located in central Perú. See Figure 1.Richard Osmond, Chairman and Interim CEO, comments, \"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 today's press release.Elida HighlightsDrill 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., <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. S...