Element 29 Resources Inc. (“Company” or “E29”) principal objective is to explore, and potentially develop tier-1 copper (“Cu”) - (molybdenum (“Mo”) deposits in Perú, one of the lowest-cost, lowest-risk mining jurisdictions globally.
E29 has four (4) early-to-advanced stage porphyry copper projects in Perú including the flagship Elida porphyry copper-molybdenum-silver deposit in west-central Perú which has an initial mineral resource estimate of 321.7 million tonnes grading 0.32% copper, plus 0.03% molybdenum and 2.61 g/t silver at a 0.2% copper cutoff grade and a low 0.74:1 modeled strip ratio (refer to NI 43-101 Technical Report by Marc Jutras, P.Eng, dated September 20th, 2022).
Alongside Elida, E29 has three (3) early stage, highly prospective porphyry copper projects in Peru. These include the Flor de Cobre porphyry copper-molybdenum prospect situated in the Southern Perú Copper Belt, just 26 kilometres from the giant Cerro Verde copper mine (Freeport-Buenaventura) as well as the Paka and Pahuay porphyry copper-(molybdenum-silver-gold-zinc) skarn prospects related to Tertiary-aged porphyry complexes intruding Cretaceous volcanic, volcanoclastic, limestone and siliciclastic rocks near the eastern margin of the Peruvian Coastal Batholith.
E29 has a clear plan of value creation through mineral resource expansion at Elida as well as the potential for new tier-1 copper discoveries on its more than 25,000 hectares of titled concession in Perú.
The E29 projects are well located for future mine development and will benefit from nearby infrastructure including roads, powerlines, ports, water, and a skilled workforce.