Flor de Cobre Project
STRATEGIC ADVANTAGES
- An emerging, large porphyry copper system with discovery potential.
- Adjacent to electrical grid and highway.
- Low to moderate elevation.
- Located in Southern Perú Copper Belt near Cerro Verde, the 5th largest Copper Mine in the world.
ATRAVESADO PORPHYRY CU-MO PROSPECT
- Geophysical response coincides with anomalous Cu geochemistry, potassic alteration, and A-type quartz veining.
- Anglo American drilled historical holes near the edge of the main target area.
- Target is just 1.5 km to the northwest of the Candelaria deposit with historical resources of 57.4 million tonnes of 0.67% Cu1.
- DIA environmental permit received and exempted from the Prior Consultation Process.
Notes:
- The source of the historical resource estimate is a press release issued by Rio Amarillo Mining Ltd. dated November 15, 1996 (Rio Amarillo Mining Ltd., November 15th, 1996: Aija Property Drill Results).
Flor de Cobre is Perfectly Situated in Perú
Resource
High potential to develop into a large porphyry copper deposit
Location
Located at relatively low elevation in Southern Perú Copper Belt near some of the largest Cu mines in the world
Geology
Large mineral systems with potential for Tier-1 discovery
Infrastructure
Easy access to power and transport infrastructure
Speed
Rapid path to resource development
Flor de Cobre porphyry copper (“Cu”) – molybdenum (“Mo”) project (“Flor de Cobre” or “Project”) is comprised of eleven (11) mining concessions and one (1) mining claim for a total of 3,135.355 hectares which are 100% owned by Element 29 Resources Inc. ("Element 29").
The Project is located approximately 35 kilometres southeast of Arequipa and is accessible along paved and maintained unpaved roads. Flor de Cobre is situated in the Southern Perú Copper Belt, known to host numerous giant porphyry Cu deposits, including the Cerro Verde mine operated by Freeport-McMoRan; the Cuajone and Toquepala mines operated by Southern Copper; and the Quellaveco mine operated by Anglo American. Flor de Cobre is situated just 26 kilometres southeast of Cerro Verde Mine at a modest elevation of ~2,700 metres with excellent infrastructure for future mine development.
Flor de Cobre is host to the Atravesado porphyry Cu-Mo target, a 1.5 x 2.0 kilometre hydrothermal alteration footprint characterized by anomalous Cu and Mo geochemistry, resistivity and chargeability anomalies, and corresponding geological indicators. Quartz veinlets associated with potassic alteration were recognized overprinted by later iron hydroxide after pyrite veinlets from the leaching of phyllic alteration. Higher quartz veinlet densities correlate with more abundant Cu oxide mineralization and anomalous outcrop Cu geochemistry interpreted as the leached capping zone formed on top of phyllic overprinting potassic altered sediments associated with a deeper early-mineral porphyry intrusion. Late-mineral porphyry dikes are also mapped within the target area.
Element 29 has recently taken possession of three (3) historical diamond drill holes completed by Anglo American in 2007 along the perimeter of the Atravezado porphyry Cu-Mo target where quartz veinlet densities are relatively low. The Company plans to complete more geological mapping and sampling as well as detailed logging of these historical drill holes to integrate into the geological model prior to drilling.
The Company has received the DIA environmental permit and has been exempted from the Prior Consultation Process. Drilling at Flor de Cobre is anticipated in mid-2025.
Flor de Cobre News
The scientific and technical content has been reviewed and approved by Richard Osmond (P.Geo.), Element 29’s President and CEO, who is the “Qualified Person” as defined by National Instrument 43-101 Standards for Disclosure for Mineral Projects.
