# Element 29 Resources (TSXV:ECU)

> Element 29 Resources Inc.

## 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 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.

## Key facts

- **Cash position:** Not available
- **Shares outstanding:** 155.5 million
- **Fully diluted shares:** 185.4 million
- **Warrants:** 19.4 million
- **Options:** 10.5 million
- **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 - 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. 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. The Elida porphyry copper (“Cu”) - molybdenum (“Mo”) - silver (“Ag”) deposit (“Elida” or “Project”) occurs along the east side of a large block of 29 contiguous concessions totaling 19,749 hectares that are 100% owned by Element 29 Resources Inc. Elida is well located for future mine development and will benefit from nearby infrastructure and a skilled workforce. The project is situated at a moderate elevation between 1,500 metres and 2,000 metres with access to transportation routes to coastal shipping ports and power infrastructure, including a 45 mega-watt hydroelectric generation facility situated just 15 kilometres from the Project. Elida was staked by GlobeTrotters Resource Group Inc. over a large, remote-sensing anomaly situated in an emerging porphyry belt in central Perú. Ground follow-up of this anomaly by GlobeTrotters led to the discovery of a large untested porphyry Cu-Mo centre that is part of a porphyry cluster enclosed by a 2.5 x 2.5 kilometre hydrothermal alteration footprint. The porphyry system is a multiphase complex of porphyry stocks and dikes ranging in age from Eocene to Miocene and composed of quartz monzonite and quartz monzodiorite intruded into Cretaceous Casma Group volcanic, volcaniclastic and sedimentary rocks along the eastern margin of the Peruvian Coastal Batholith. The primary exploration target at Elida is a zone of Cu-Mo-Ag mineralization, characterized by intense multi-phase quartz veining containing chalcopyrite and molybdenite. High-grade mineralization (>0.5 % Cu) found in steeply dipping volcano-sedimentary rocks forms a halo around a lower-grade core consisting of quartz monzodiorite porphyry stocks hosting molybdenite-bearing quartz veins (A-type) with minor chalcopyrite. The majority of Cu is carried in A-type veins that were formed during the waning stages of potassic alteration, with a significant secondary amount of Cu carried in B-type veins (chlorite-epidote-pyrite-chalcopyrite). Chalcopyrite is the principal Cu sulfide mineral found in both sedimentary and intrusive host rocks. Molybdenite is the only Mo sulfide identified. Lundin Mining Perú S.A.C. optioned the Project from GlobeTrotters in 2013 and completed 18 diamond drill holes for a total of 9,888.9 metres. All holes intercepted Cu-Mo mineralization and six (6) of the holes intercepted significant Cu-Mo mineralization. Diamond drill hole ELID012 intersected an interval of 502.9 m of 0.42% Cu, 0.046% Mo, and 3.2 g/t Ag for a 0.59% CuEq grade including 181.8 m of 0.55% Cu, 0.046% Mo, and 4.5 g/t Ag for a 0.71% CuEq grade. Some mineralized intercepts begin immediately below colluvial cover, demonstrating the mineralized system begins at bedrock surface beneath the post-mineral unconsolidated cover sequence. Lundin dropped the option in 2016. The Project was acquired by Element 29 in February 2019 through a share purchase agreement with GlobeTrotters to acquire 100% of the shares in Peruvian subsidiary Elida Resources S.A.C. In 2021, Element 29 completed seven (7) diamond drill holes totaling 4,612.7 metres that intersected multiple, long intervals of Cu-Mo-Ag mineralization and traced mineralization to a depth greater than 900 metres from surface. ELID025 intersected a continuous interval of Cu-Mo-Ag mineralization from bedrock surface at 38.4 metres to a depth of 947.2 metres and returned 908.75 metres of 0.39% Cu, 0.035% Mo, and 2.9 g/t Ag for a 0.51% CuEq grade. This hole ended in mineralization and was discontinued for operational reasons. Based on 14,361.4 metres of diamond drilling, Element 29 completed an independent initial Inferred Mineral Resource Estimate on the Elida porphyry Cu-Mo-Ag deposit which outlined 321.7 million tonnes of 0.32% Cu, 0.029% Mo and 2.61 g/t Ag at a 0.2% Cu cut-off grade and a 0.74:1 strip ratio. In 2022, Element 29 completed an additional seven (7) diamond drill holes totaling 2,043 metres with ELID032 intersecting 404.5 metres of 0.45% Cu, 0.032% Mo and 3.6 g/t Ag for a 0.55% CuEq grade, including 123.0 metres of 0.52% Cu, 0.036% Mo and 4.0 g/t Ag for 0.65% CuEq grades starting from bedrock surface at 45.5 metres depth. This hole ended in strong Cu-Mo-Ag mineralization with 13.4 metres of strong Cu-Mo-Ag mineralization grading 0.75% Cu, 0.032% Mo, and 7.2 g/t Ag for a 0.83% CuEq grade. The hole was discontinued for operational reasons. The results from this program have not been updated in the current Mineral Resource Estimate. In 2024, the Company drilled two holes consisting of 2,249.8 metres. The Company continues to intersect long intervals of Cu-Mo-Ag mineralization starting near surface and extending to vertical depths of over 1000 m highlighting the potential for further resource expansion. Highlights from this program include: Drill hole ELID033 intersected 0.54% CuEq (0.39% Cu, 0.036% Mo, 2.96 g/t Ag) over 1039.6 m starting from bedrock surface to the end of the hole at 1109.6 m. Drill hole ELID035 intersected 0.54% CuEq (0.33% Cu, 0.045% Mo, 2.76 g/t Ag) over 922.4 m starting at bedrock surface to the end of the hole at 979.0 m. Drill hole ELID033 extended the porphyry Cu-Mo-Ag mineralization with higher Cu grades than the existing pit-constrained Inferred Mineral Resource Estimate to a vertical depth of more than 1000 m along the western side of the Zone-1. The Cu-Mo-Ag grades in ELID033 also increased significantly at depth with the last 310.1 m grading 0.71% CuEq (0.56% Cu, 0.040% Mo, 3.49 g/t Ag). This suggests the Cu-Mo-Ag mineralization is increasing at depth on the western side of Zone-1."]
- **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.)

_Verified data last updated: 2026-05-15_

## Recent filings

- 2026-05-20 — financials — [ecu_2026-05-20_18-22-49.pdf](https://chat.orbiton.app/ecu/preview/51707?documentId=51707)
- 2026-05-20 — financials — [ecu_2026-05-20_18-22-18.pdf](https://chat.orbiton.app/ecu/preview/51704?documentId=51704)
- 2026-05-20 — mda — [ecu_2026-05-20_18-20-16.pdf](https://chat.orbiton.app/ecu/preview/51705?documentId=51705)
- 2026-05-20 — financials — [ecu_2026-05-20_18-17-45.pdf](https://chat.orbiton.app/ecu/preview/51706?documentId=51706)
- 2026-05-07 — press_release — [ecu_2026-05-07_06-44-51.pdf](https://chat.orbiton.app/ecu/preview/38294?documentId=38294)
- 2026-05-01 — press_release — [Element 29 Appoints Vice President, Investor Relations and Marketing](https://chat.orbiton.app/ecu/preview/36602?documentId=36602)
- 2026-04-29 — annual_report — [ecu_2026-04-29_20-06-39.pdf](https://chat.orbiton.app/ecu/preview/35558?documentId=35558)
- 2026-04-29 — mda — [ecu_2026-04-29_20-04-38.pdf](https://chat.orbiton.app/ecu/preview/35557?documentId=35557)

## Investor FAQ

### [Latest news?](https://chat.orbiton.app/ecu/faq/latest-news)

The latest news from Element 29 Resources includes the appointment of Dylan Berg as Vice President, Investor Relations and Marketing, as announced on May 1, 2026. Additionally, the company continues to report significant mineralization results from its drilling programs at the Elida project.

### [Upcoming catalysts](https://chat.orbiton.app/ecu/faq/upcoming-catalysts)

Upcoming catalysts for Element 29 Resources include further updates on drilling results from the Elida project, which has shown strong potential for resource expansion. The company is expected to continue its exploration efforts and may provide additional resource estimates based on ongoing drilling activities.

## Live AI chat

- https://chat.orbiton.app/ecu/chat
- Investor website: https://www.e29copper.com/