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Element 29 Drills 418.0 Metres of 0.51% CUEQ at the Elida Copper Project
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2021) - Element 29 Resources Inc. ...
About this update from Element 29 Resources, Inc.
[{"type":"text","content":"Element 29 Drills 418.0 Metres of 0.51% CUEQ at the Elida Copper ProjectVancouver, British Columbia--(Newsfile Corp. - November 15, 2021) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (\"Element 29\" or the \"Company\") is pleased to announce results from the next two drill holes of a seven-hole, 4,500 metre (\"m\") drilling program in progress at its 100% owned Elida Copper Project (\"Elida\" or \"the Project\") located in central Perú (Figure 1).Richard Osmond, Chairman and Interim CEO, comments, \"Following the results of the first two drill holes at Elida, we are very pleased with the results from holes ELID021 and ELID022. These holes have long, continuous mineralized intervals with attractive copper and molybdenum grades. ELID021 has traced the mineralization to a depth of over 700 m below surface and drilling has tested the lateral continuity over a strike-length of 300 m on the east side of Target 1. It is very encouraging to see the drilling confirm the geometry of the mineralized zone as previously inferred from sparse historical drilling and continue to show low levels of arsenic. The mineralized zone remains open at depth beneath these latest holes and continues to support our belief that Elida has the potential to be a large-scale copper project, which will be enhanced by its low elevation and proximity to infrastructure.\"Click HERE to listen to Richard Osmond discuss the highlights of today's press release.Elida Drilling HighlightsDrill hole ELID021 intersected 556.1 m of 0.36% copper (\"Cu\"), 0.024% molybdenum (\"Mo\"), and 2.40 g/t silver (\"Ag\") for 0.47% copper equivalent1 (\"CuEq\") (Figure 2). The hole confirmed the northern limit and the eastward continuity of mineralization. Drill hole ELID022 intersected 388.0 m of 0.34% Cu, 0.026% Mo, 2.36 g/t Ag (0.45% CuEq1) (Figure 3). This hole was drilled to obtain information from the east side of the mineralized zone and define the northern extent of mineralization.Target 1 mineralization is now traced by drilling to a depth of approximately 700 m below surface. Mineralization remains open at depth.The latest drill holes support the preliminary interpretation of the Target 1 mineralized zone, which was derived from sparse historical drilling. Results indicate strong lateral and vertical continuity of Cu and Mo mineralization.With the enco...