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Element 29 Receives Environmental Permit for Flor de Cobre Copper Project and Announces Partnership with GlobeTrotters on Exploration Activities
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2024) - Element 29 Resources Inc. (TSXV:...
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[{"type":"text","content":"Element 29 Receives Environmental Permit for Flor de Cobre Copper Project and Announces Partnership with GlobeTrotters on Exploration ActivitiesVancouver, British Columbia--(Newsfile Corp. - March 1, 2024) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (BVL: ECU) (\"Element 29\" or the \"Company\") is pleased to announce that it has received environmental permit approval for exploration drilling at its wholly-owned Atravesado porphyry target on the Flor de Cobre copper project, located in southern Peru. The permit, known as a Declaración de Impacto Ambiental (\"DIA\"), allows the Company to drill from a maximum of 40 drilling platforms. Following approval of the environmental permit, Element 29 requested approval from the Peruvian General Mining Bureau (\"DGM\") for the Authorization to Initiate Exploration Activities (\"AIEA\"), which is a normal course step that triggers Peruvian authorities to evaluate the effect of exploration activities on the local community. The outcome of this evaluation will establish whether there is a need for a prior consultation process (\"Consulta Previa\"). In parallel, the Company is negotiating a surface rights agreement with the local community. After completing these steps, the Company expects that Peruvian authorities will be able to issue approval of the AIEA. Partnering with GlobeTrotters on ExplorationThe Company plans to partner with GlobeTrotters Resource Group (\"GlobeTrotters\"), a private exploraton company focused on project generation in South America. GlobeTrotters has been actively exploring in Peru for more than 10 years and responsible for the initial discovery of the Company's flagship Elida porphyry Cu-Mo-Ag deposit and the Atravesado porphry Cu target at Flor de Cobre. The plans are to utilize GlobeTrotters' technical expertise in Peru to advance the Company's portfolio of highly prospective porphyry Cu projects and share operational resources to potentially significantly cut costs. The plans to partner with GlobeTrotters, the largest shareholder of the Company, complements the appointment of Manuel Montoya as Chief Technical Officer (see February 29, 2024 press release).Richard Osmond, Chairman and CEO, commented, \"The receipt of the Atravesado target DIA on our Flor de Cobre project is an important step towards drilling this highly prospective target. Our Peru...