Element 29 Resources(TSXV:ECU)

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 developing Tier-1 copper-(molybdenum) deposits in Perú. The company aims to create value through mineral resource expansion on its flagship Elida deposit, which has an initial resource estimate of 321.7 million tonnes. 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
119,832,598
Fully diluted shares
185,400,000
Mineral resource
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 (waste: mineralized material). 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 (at a cut-off grade of 0.40% Cu) 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.
Projects
["Elida: 100% Ownership\n- 19,749 hectares of titled concessions.\n- Located in west-central Perú near Antamina, the 6th largest copper mine in the world.\n- Low elevation, adjacent to electrical grids, highways and ports.\n- Discovered in 2011 with initial drilling in 2014-2015 which intersected porphyry copper mineralization.\n- Initial Inferred Mineral Resource Estimate published in 2022.\n\nElida: Initial Inferred Mineral Resource Estimate Highlights\n- 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 (waste: mineralized material).\n- 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 (at a cut-off grade of 0.40% Cu) has potential to be mined with minimal stripping in the initial years of mining.\n- Significant Mo and Ag grades have the potential to enhance the economics of the deposit, subject to metallurgical test work.\n- Strong potential for resource expansion.\n\nElida: Exploration Potential\n- Cluster of 5 porphyry Cu targets outlined with limited drilling outside Zone 1.\n- Inferred Mineral Resource Estimate is open for potential expansion laterally and at depth.\n- Potential exists to increase Cu-Mo-Ag grades within the current pit-shell.\n\nElida: Strategic Advantages\n- Low elevation at 1,500 metres.\n- Accessible by road just 75 kilometres from the coast.\n- Access to clean energy from hydroelectric powerplant 15 kilometres away.\n- Access to the Antamina and Chancay ports roughly 150 kilometres away.\n- High grade Cu-Mo-Ag mineralization outcropping at bedrock surface.\n- Low arsenic and other deleterious metals in ore mineralization.\n- Skilled work force for mine development and operation.\n\nElida is Perfectly Situated in Perú\n- Opportunities exist to expand resources laterally and at depth.\n- Located at low elevation in Perú near two of the top 10 copper mines in the world.\n- Large mineral systems with potential for resource expansion.\n- Easy access to power and transport infrastructure.\n- Rapid path to resource development.","Flor de Cobre Project\n- An emerging, large porphyry copper system with discovery potential.\n- Adjacent to electrical grid and highway.\n- Low to moderate elevation.\n- Located in Southern Perú Copper Belt near Cerro Verde, the 5th largest Copper Mine in the world.\n\nFlor de Cobre 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\").\n\nThe 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.\n\nFlor 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.\n\nElement 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.\n\nThe 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\n- Lower elevation (~3,000 meters)\n- Nearby transportation routes\n- Close to the electrical grid\n- Ports are close by\n- Local mining services and skilled workforce available.\n\nThe Paka porphyry copper-(gold-silver-zinc) skarn project (previously referred to as the Muñaorjo project) consists of 1,000 hectares and is 100% owned by Element 29, subject to a 2% net smelter return royalty.\n\nThe project is located approximately 200 kilometres northeast of Arequipa, Perú within the probable northwest continuation of the Paleocene-aged Southern Perú Copper Belt, which is host to several very large porphyry copper deposits including the Cerro Verde mine (Freeport-McMoRan) and the Toquepala mine (Southern Copper).\n\nThe 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. Rock sample results for this area (58 rock samples) are highly anomalous and returned assay results up to 4% copper. This porphyry copper skarn alteration is related to a deeper Tertiary-aged porphyry complex intruded along the anticlinal axis of middle Cretaceous-aged Acurquina Formation limestones. The skarn alteration is also open to the northwest where it is unconformable overlain by thin post-mineralization Miocene-aged Huaylillas volcanoclastic sequences.\n\nThis 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 and Chartered Financial Analyst 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.)

Verified data last updated: 2026-07-03

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