Business
Element 29 Releases Final Results from Flor de Cobre Drill Program Including 329.4 Metres of 0.56% Cu in Hole FDC011
Vancouver, British Columbia--(Newsfile Corp. - September 7, 2022) - Element 29 Resources Inc...
About this update from Element 29 Resources, Inc.
[{"type":"text","content":"Element 29 Releases Final Results from Flor de Cobre Drill Program Including 329.4 Metres of 0.56% Cu in Hole FDC011Vancouver, British Columbia--(Newsfile Corp. - September 7, 2022) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (\"Element 29\" or the \"Company\") announces results of the final three holes from the recently completed 4,532 metre (\"m\"), twelve-hole drill program at the Flor de Cobre Copper Project (\"Flor de Cobre\" or \"the Project\") located in southern Peru (Figure 1). Flor de Cobre Drilling Highlights Drillhole FDC011, located along the northwest margin of the permitted drilling area intersected 329.4 m of 0.56% copper (\"Cu\") from 183.1 m, including 100.1 m of 0.99% Cu of enriched mineralization. Drillhole FDC012 intersected 393.1 m of 0.51% Cu, 0.005% Mo, 1.5 g/t Ag from 79.9 m including 152.1 m of 0.82% Cu of enriched mineralization. These angled drillholes add confidence to the position and geometry of the Candelaria Porphyry Complex (\"Candelaria\") and presence of elevated copper grades within the primary sulphide mineralization. The Candelaria Porphyry Complex is untested to the northwest, toward the large Atravesado porphyry target (\"Atravesado\") area. Steve Stakiw, Element 29's President and CEO, comments, \"These final drill results from our Flor de Cobre program have further boosted confidence in geological interpretations and distribution of the Candelaria Porphyry Complex, which is important for controlling copper mineralization. This understanding will be important for our next step of undertaking a mineral resource estimate incorporating all available data from the Candelaria portion of the Flor de Cobre project.\" Click HERE to watch a short video by Steve Stakiw, CEO, and Paul Johnston, Vice-President, Exploration, discussing the highlights of today's press release.The Company has successfully completed the objectives of this latest drill program, namely confirming the reliability of historical drillholes completed by Rio Amarillo Mining and Phelps Dodge in 1994 and 1995, and to explore for primary copper sulphide mineralization underneath the enrichment blanket to depths of over 500 m on the Candelaria portion of the Flor de Cobre property. Nine historical drillholes were selected for twinning based on cumulative grade times thickness and representing approximately 70% of the to...