Exciting Drill Results from Element 29 Resources’ Elida Deposit in Peru
Vancouver, BC – Element 29 Resources Inc. (ECU on TSXV, EMTRF on OTCQB, ECU on BVL), a mineral exploration company, recently announced the initial results from the first two drill holes of its Phase-III diamond drill program at the Elida Porphyry Copper (“Cu”), Molybdenum (“Mo”), and Silver (“Ag”) Deposit in central Peru. The company’s exploration efforts continue to yield impressive results, with mineralization starting near the surface and extending to depths exceeding 1000 meters.
Detailed Drill Results
The first two drill holes, EL25-016 and EL25-017, were drilled approximately 100 meters apart from each other. The mineralization intercepted in both holes demonstrates the potential for significant resource expansion at the Elida Deposit.
Drill hole EL25-016:
- Length: 1,096.5 meters
- Average grade: 0.43% Cu, 0.04% Mo, and 1.1 g/t Ag
- High-grade intervals: 111.2 meters grading 0.64% Cu, 0.07% Mo, and 2.3 g/t Ag
Drill hole EL25-017:
- Length: 1,122.5 meters
- Average grade: 0.38% Cu, 0.03% Mo, and 1.0 g/t Ag
- High-grade intervals: 135.5 meters grading 0.60% Cu, 0.05% Mo, and 1.8 g/t Ag
Impact on Element 29 and the Mining Industry
These promising drill results have the potential to significantly increase the resource estimate at the Elida Deposit. Element 29’s shareholders may benefit from the potential upside as the company continues to explore and develop the deposit.
The mining industry as a whole may also benefit from these results as they highlight the potential for discovering large, high-grade porphyry Cu-Mo-Ag deposits in Peru. This could lead to increased exploration efforts in the region and potentially discover new deposits, creating new opportunities for companies and investors alike.
Conclusion
The first two drill holes from Element 29 Resources’ Phase-III diamond drill program at the Elida Deposit in Peru have returned impressive results, with long intervals of mineralization starting near surface and extending to depths over 1000 meters. These results not only suggest the potential for significant resource expansion but also highlight the potential for discovering large, high-grade porphyry Cu-Mo-Ag deposits in the region. Element 29’s shareholders and the mining industry as a whole could potentially benefit from these findings, as exploration efforts in the area may increase, leading to new opportunities and discoveries.
As the drilling program continues, investors and industry professionals will eagerly await further results from Element 29. The potential for resource expansion and discovery in Peru’s porphyry belt is an exciting prospect for the mining industry, and these initial results are a promising start.
