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Element 29 Resources

TSXV:ECULive AI agent

Element 29 Resources Inc.

Investor website: https://www.e29copper.com/

About

Element 29 Resources Inc. is an emerging junior resource company focused on exploring and potentially developing Tier-1 copper-(molybdenum) deposits in Perú. The company aims for value creation through mineral resource expansion on its flagship Elida deposit, which has an initial resource estimate of 321.7 million tonnes grading 0.32% copper, 0.03% molybdenum, and 2.61 g/t silver. Element 29 is committed to sustainability and operates in one of the lowest-cost, lowest-risk mining jurisdictions globally, benefiting from a skilled workforce and nearby infrastructure.

Verified company data

Cash position
Not available
Shares outstanding
196.3 million
Fully diluted shares
229.6 million
Mineral resource
Initial Inferred 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.
Projects
["Elida: 100% Ownership - 19,749 hectares of titled concessions. Located in west-central Perú near Antamina, the 6th largest copper mine in the world. Low elevation, adjacent to electrical grids, highways and ports. Discovered in 2011 with initial drilling in 2014-2015 which intersected porphyry copper mineralization. Initial Inferred Mineral Resource Estimate published in 2022. Highlights: Pit-constrained, Inferred Mineral Resource Estimate of 321.7 million tonnes grading 0.32% Cu plus 0.029% Mo and 2.6 g/t Ag, using a 0.20% Cu cut-off grade and low modeled strip ratio of 0.74:1. A near surface, higher-grade subset of the Mineral Resource Estimate consisting of 59.7 million inferred tonnes at 0.49% Cu, 0.036% Mo, and 3.99 g/t Ag has potential to be mined with minimal stripping in the initial years of mining. Significant Mo and Ag grades have the potential to enhance the economics of the deposit, subject to metallurgical test work. Strong potential for resource expansion. Exploration Potential: Cluster of 5 porphyry Cu targets outlined with limited drilling outside Zone 1. Inferred Mineral Resource Estimate is open for potential expansion laterally and at depth. Potential exists to increase Cu-Mo-Ag grades within the current pit-shell. Strategic Advantages: Low elevation at 1,500 metres. Accessible by road just 75 kilometres from the coast. Access to clean energy from hydroelectric powerplant 15 kilometres away. Access to the Antamina and Chancay ports roughly 150 kilometres away. High grade Cu-Mo-Ag mineralization outcropping at bedrock surface. Low arsenic and other deleterious metals in ore mineralization. Skilled work force for mine development and operation.","Flor de Cobre Project - 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. The 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. The Project is located approximately 35 kilometres southeast of Arequipa and is accessible along paved and maintained unpaved roads. 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. The project hosts the Atravesado porphyry Cu-Mo target, characterized by anomalous Cu and Mo geochemistry, resistivity and chargeability anomalies, and corresponding geological indicators. 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.","Paka Project - The Paka porphyry copper-(gold-silver-zinc) skarn project consists of 1,000 hectares and is 100% owned by Element 29, subject to a 2% net smelter return royalty. The project is located approximately 200 kilometres northeast of Arequipa, Perú within the probable northwest continuation of the Paleocene-aged Southern Perú Copper Belt. The property is centered on a large, 4.3 x 1.3 kilometre porphyry related hydrothermal alteration zone and covers a limestone sequence intruded by diorite and granodioritic rock units. Hydrothermal recrystallization in the limestone is extensive on the property and includes a central area containing skarn, quartz-limonite stockwork, hydrothermal brecciation, and associated strong copper-(gold-silver-zinc) mineralization exposed within a 480 x 280 metre area. This porphyry copper skarn target has not been drill-tested. Environmental baseline studies and community engagement are planned for 2024 with expectations of receiving drill permits in Q2 2025."]
Leadership
Richard Osmond, P. Geo., ICD.D (President & CEO, Over 25 years of experience in the mining sector including roles at INCO, Falconbridge, and Anglo American. Involved in exploration discoveries at Vale's Voisey's Bay and Glencore's Raglan mine.), Manuel Montoya (Chief Technical Officer & Country Manager, Over 35 years of experience in the natural resource sector, primarily in South America, with a strong background in mining exploration and geology.), Michael Au, CPA (CA) (CFO, Chartered Professional Accountant with over 20 years of experience in financial and regulatory reporting across various sectors including mining.), Terese Gieselman (Corporate Secretary, 32 years of international experience in junior mining and exploration companies, with extensive background in corporate and financial reporting.), Dylan Berg (Vice President, Investor Relations & Marketing, Over 14 years of capital markets experience in the junior resource sector, knowledgeable in corporate development and investor relations.)

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