202619 releases
Element 29 Announces Grant Of Stock Options And Deferred Share Units
Element 29 Resources granted 1,150,000 stock options to certain directors and a consultant, each exercisable at $1.75 per share for five years, and 190,000 deferred share units under its long-term incentive plan. All grants are subject to TSX Venture Exchange acceptance and applicable securities laws.
CorporateElement 29 Mobilizes Third Drill Rig to Elida Copper Project, Peru
A third drill rig has been mobilized to the Elida copper-molybdenum-silver project in west-central Peru, beginning drilling at the previously untested Zone 4 porphyry target with hole ELID046. Two rigs continue step-out drilling west of Zone 1, following up on intercepts in ELID033, ELID035 and ELID037, under a 40-platform permit approved in July 2026, with the company aiming to exceed its 10,000-metre 2026 target. Element 29 also plans to seek permit amendments to increase authorized platforms from 40 to up to 60.
Drill resultsElement 29 Announces Election of Randy Smallwood and George Brack to its Board of Directors
Randy Smallwood and George Brack were elected as independent directors at Element 29's annual general meeting held September 25, 2026, each receiving 100% of votes cast and joining a seven-member board. Shareholders approved all matters, including the 10% rolling stock option plan with 97.44% in favour, with 69,080,645 shares, or 36.55% of shares outstanding, represented. The Company also amended its agreement with Torrey Hills Capital at US$3,000 per month plus 100,000 options at $1.79, and engaged Mining Stock Education LLC for one year at US$30,000 up front and US$90,000 due in January 2027.
ManagementElement 29 Upgrades to OTCQX Best Market
Element 29 Resources has qualified to upgrade from the OTCQB Venture Market to the OTCQX Best Market, trading under the symbol EMTRF. The company is listed on the TSX Venture Exchange and BVL as ECU. Its flagship Elida Porphyry Cu-Mo-Ag Deposit in west-central Peru has an initial pit-constrained inferred Mineral Resource Estimate of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag at a 0.2% Cu cutoff grade.
CorporateElement 29 Announces Inclusion of Randy Smallwood and George Brack as Director Nominees at the Upcoming AGM
Randy Smallwood, non-executive Chair of Wheaton Precious Metals and its CEO from 2011 to 2026, and George Brack, Wheaton's Lead Independent Director and former non-executive Chair of Capstone Mining, have been added as management nominees for election to Element 29 Resources' board at its virtual annual general meeting on Friday, September 25, 2026 at 10:00 a.m. Pacific Time. If elected, they would serve as independent directors alongside Brad Mercer, Patrick Elliott, Mary-Carmen Vera, Chet Idziszek and Richard Osmond.
CorporateElement 29 Closes $12.0 Million Private Placement with Continued Participation from Strategic Investors
A non-brokered private placement of 7,272,727 common shares at $1.65 per share closed effective August 10, 2026 for gross proceeds of $11,999,999.55, with cash finder's fees of $405,396.92 paid and a four-month-and-one-day hold period expiring December 11, 2026. Alpayana S.A.C. topped up to maintain a 9.9% interest, with additional participation from Randy Smallwood. Net proceeds will fund exploration across the Company's Perú copper projects, including Elida, Flor de Cobre and Paka.
FinancingElement 29 Announces Fully-Committed Private Placement of up to $12,000,000 with Strategic Investors
A fully-committed non-brokered private placement of up to 7,272,727 common shares at $1.65 per share for gross proceeds of up to $12,000,000 will be completed with participation from strategic investors. Net proceeds will fund exploration across Element 29's Peruvian copper portfolio, including the flagship Elida project plus Flor de Cobre and Paka. Finders may receive a cash fee of 7% of gross proceeds they arrange; the financing is subject to final TSX Venture Exchange acceptance and a four-month-and-one-day hold period.
FinancingElement 29 Receives Upgraded Five-Year Drill Permit Supporting Advancement of the Elida Porphyry Cu-Mo-Ag Project, Perú
An upgraded Permiso de Inicio de Actividades drill permit from Peru's Ministerio de Energía y Minas authorizes up to 40 drill platforms over five years at the Elida porphyry Cu-Mo-Ag project in central Perú, up from 20 previously. Two rigs are operating, with more than 4,885 metres completed of a planned 10,000-metre diamond drilling program. Under Decreto Supremo N.° 014-2026-EM, published July 18, 2026, the company intends to seek a DIA amendment to allow up to 60 platforms.
CorporateElement 29 Extends Mineralization in ELID035 with Longest Intercept of 1,534.6 m Grading 0.58% CuEq2 at its Elida Porphyry Cu-Mo-Ag Deposit, Perú
Drill hole ELID035 at the Elida porphyry Cu-Mo-Ag deposit in central Perú returned 1,534.6 m grading 0.58% CuEq (0.34% Cu, 0.064% Mo, 2.56 g/t Ag) from 56.6 m to the end of hole at 1,591.2 m, including 1,071.1 m of 0.61% CuEq beyond the current Mineral Resource Estimate. ELID042 returned 805.8 m at 0.36% CuEq from 123.7 m, and ELID043 returned 343.8 m at 0.30% CuEq from 952.2 m. 4,885.5 m of the planned 10,000 m 2026 program is complete, with two rigs active.
Drill resultsElement 29 Renews IR Consultant Agreement and Engages Market Maker
A 12-month investor relations consulting agreement with Port Guichon Strategic Advisory was renewed effective July 3, 2026, at $10,000 for the first month and $6,000 per month thereafter, replacing an agreement that expired June 30, 2026. Velocity Trade Capital Ltd. was engaged for market-making services at $8,000 per month, terminable on 30 days' notice after 60 days. Both agreements are subject to TSX Venture Exchange approval. Drilling continues at Elida in Perú, with 43 holes for 28,079 m completed.
CorporateElement 29 Engages Synectiq to Advance Resource Modelling and Metallurgical Test Work at its Elida Porphyry Cu-Mo-Ag Deposit, Perú
Synectiq Inc. has been engaged to support mineral resource modelling and to design and manage a metallurgical test work program at the Elida porphyry Cu-Mo-Ag deposit in central Perú. The updated Mineral Resource Estimate would build on the pit-constrained 2022 estimate and incorporate drilling completed since, including the ongoing Phase 3 program, with potential completion targeted by year-end. The initial metallurgical program covers sample selection, comminution testing, mineralogical characterization and flotation investigations. The 2022 inferred MRE was 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag.
CorporateElement 29 Appoints Vice President, Investor Relations and Marketing
Dylan Berg has been appointed Vice President, Investor Relations and Marketing of Element 29 Resources, effective immediately. Under a consulting agreement subject to TSX Venture Exchange approval, Berg will be paid $10,000 per month for the initial three months and $12,000 per month thereafter, plus performance-based incentives, and has been granted 1,000,000 stock options exercisable at $1.35 per share for five years, vesting quarterly over two years. Element 29's principal asset is the Elida copper-molybdenum-silver deposit in Perú.
ManagementElement 29 Announces Grant of Stock Options and Deferred Share Units
An aggregate of 4,000,000 stock options has been granted to certain directors, officers and consultants of Element 29 Resources, each exercisable at $1.35 per share for five years from the grant date under the Company's incentive stock option plan. An additional 428,750 deferred share units were granted to certain eligible persons under the long-term incentive plan. All grants are subject to TSX Venture Exchange acceptance and applicable securities laws.
CorporateElement 29 Closes $35.4 M Private Placement with 9.9% Interest Acquired by Strategic Investor
A non-brokered private placement closed effective April 21, 2026, with 32,245,269 common shares issued at $1.10 per share for gross proceeds of $35,469,796. Alpayana S.A.C., led by Chair Alejandro Gubbins, acquired a 9.9% interest as a new strategic investor, and Randy Smallwood also participated. Net proceeds will fund exploration in Perú, including the 2026 drilling program at the Elida porphyry copper-molybdenum-silver deposit, and general working capital. Cash finder's fees totaled $629,999.99; shares are subject to a hold period expiring August 22, 2026.
FinancingElement 29 Announces Private Placement of up to $35,500,000
A non-brokered private placement of up to 32,272,727 common shares at $1.10 per share for gross proceeds of up to $35,500,000 is planned. Net proceeds will fund exploration in Perú, including the 2026 drilling program at the Elida porphyry copper-molybdenum-silver deposit in west-central Perú, and general working capital. Finders may receive a cash fee of 7.0% of gross proceeds they arrange; directors and officers may participate, and the financing requires TSX Venture Exchange approval with a four-month and one-day hold period.
FinancingElement 29 Continues to Drill Long Mineralized Intercepts to Potentially Expand Mineral Resources1 at its Elida Porphyry Cu-Mo-Ag Deposit, Perú
Drill hole ELID041 at the Elida porphyry Cu-Mo-Ag deposit in central Perú returned 903.7 m grading 0.38% CuEq (0.31% Cu, 0.02% Mo, 2.22 g/t Ag) from 29.8 m depth, including 707.7 m of 0.41% CuEq and 495.2 m of 0.46% CuEq. The hole, drilled to 1,232.2 m on the northeastern side of the deposit, extended mineralization more than 400 m beyond the current pit-constrained resource at a 0.2% Cu cut-off. An updated resource estimate is targeted for late 2026, with preliminary metallurgical test work scheduled for Q2 2026.
Drill resultsElement 29 Reports Longest and Highest-Grade Intercepts to Date at Elida with 1,489 m of 0.58% CuEq2
Drill hole ELID037 at the Elida porphyry Cu-Mo-Ag deposit in west-central Perú returned 1,489.0 m grading 0.58% CuEq (0.44% Cu, 0.04% Mo, 4.09 g/t Ag) from bedrock surface to the end of hole at 1,552.0 m, including 1,152.0 m of 0.64% CuEq and sub-intervals of 401.0 m at 0.71% CuEq and 283.8 m at 0.76% CuEq, ending in 93.8 m of 0.87% CuEq. Results were also reported for ELID036, ELID038, ELID039 and ELID040. Five holes totaling over 4,700 m of a planned 7,000 m program are complete, with the remaining 2,300 m scheduled for Q1 2026, a further 5,000 m planned for the first half of 2026, metallurgical test work in Q2 2026 and an updated resource on program completion.
Drill resultsElement 29 Receives DIA Environmental Certification Advancing New Drilling Permit Application at Elida Porphyry Cu-Mo-Ag Deposit, Perú
Environmental certification under a Declaración de Impacto Ambiental has been granted by Peru's Ministerio de Energía y Minas for Element 29's Elida porphyry Cu-Mo-Ag deposit in central Peru, advancing its application for a new Programa de Inicio de Actividades drilling permit. The DIA is valid up to five years and covers up to 40 drilling platforms, versus 20 under the existing permit, which expires in Q2 2026. Two rigs have completed five holes totaling more than 4,600 m of a planned 7,000 m program, with assays pending.
Corporate
202512 releases
Element 29 Adds Third Drill Rig to Accelerate the Ongoing Drill Program at its Elida Porphyry Cu-Mo-Ag Deposit in Perú
A third diamond drill rig has been mobilized to the Elida porphyry Cu-Mo-Ag deposit in west-central Perú, expanding a program of up to 7,000 m, the majority of which the company plans to complete before the end of 2025. Hole ELID037 is at 834 m of a planned 1,500 m, ELID036 at 470 m of a planned 850 m, and ELID038 is newly started toward 1,000 m; assays are pending. Separately, the exercise of 18,405,253 warrants at $0.25 raised gross proceeds of CAD$4,601,313.
Drill resultsElement 29 Continues Potential Resource Expansion Drilling at its Elida Porphyry Cu-Mo-Ag Deposit in Perú
Drilling has begun at the Elida porphyry Cu-Mo-Ag deposit in west-central Perú, with a program of up to 7,000 metres of diamond drilling targeting resource expansion beyond the current pit shell to depths exceeding 1,000 m, plus infill drilling. The first rig is deepening ELID033 to approximately 1,500 m from its prior 1,109.6 m end of hole, which returned 1,039.6 m of 0.54% CuEq. A second rig is drilling ELID036 to 850 m on the pit's southwest side.
Drill resultsElement 29 Closes Private Placement of $6.3M
A non-brokered private placement of 12,649,000 units at $0.50 per unit closed effective August 19, 2025 for gross proceeds of up to $6,324,500, with each unit comprising one common share and one-half warrant exercisable at $0.70 until August 19, 2028. Insiders took 330,000 units, and cash finder's fees totalled $254,415; securities are subject to a hold period expiring December 20, 2025. Net proceeds will fund Perú exploration, including the Phase-III drill program at the Elida copper-molybdenum-silver deposit, and working capital.
FinancingElement 29 Announces Upsized Private Placement of up to $6,400,000
The previously announced non-brokered private placement has been increased to up to 12,800,000 units at $0.50 per unit for gross proceeds of up to $6,400,000, with each unit comprising one common share and one-half warrant exercisable at $0.70 for 36 months. Net proceeds will fund exploration in Perú, including the Phase-III drill program at the Elida porphyry copper-molybdenum-silver deposit in west-central Perú, and general working capital. Finders may receive a 7.0% cash fee; TSX Venture Exchange approval is required.
FinancingElement 29 Announces Private Placement of up to $3,500,000
A non-brokered private placement of up to 7,000,000 units at $0.50 per unit for gross proceeds of up to $3,500,000 is planned, with each unit comprising one common share and one-half warrant exercisable at $0.70 for 36 months. Net proceeds will fund exploration in Perú, including the Phase-III drill program at the Elida porphyry copper-molybdenum-silver deposit in west-central Perú, and general working capital. Finders may receive a 7.0% cash fee; the financing requires TSX Venture Exchange approval.
FinancingElement 29 Engages Investor Relations Consultant
Port Guichon Strategic Advisory (PGSA) has been retained, effective immediately and subject to regulatory approval, to provide investor communications and outreach for Element 29 Resources at C$4,000 per month. PGSA is arm's length to the Company and holds no interest in it; principal Kevin Guichon will handle all Company-related activities. The Company also granted 100,000 stock options to directors, officers, employees and consultants, exercisable at $0.54 per share for five years, subject to regulatory acceptance.
CorporateElement 29 Identifies Multiple Large Untested MT Geophysical Anomalies at Elida Porphyry Cu-Mo-Ag Deposit
A magnetotelluric survey at the Elida porphyry Cu-Mo-Ag deposit in central Perú, comprising 122 MT stations over a 5 km by 6 km area, produced a 3D resistivity model to depths exceeding 3,000 m and identified six resistivity anomalies, including a 1,000 m long east-west high-resistivity anomaly correlating with the porphyry intrusive complex and several untested low-resistivity anomalies. The Company is preparing to resume Phase-III drilling under its existing FTA permit, using the model to refine targets.
Drill resultsElement 29 Resources Renews 5-Year Surface Access Agreement at its Elida Project
A renewed five-year surface access agreement with the host community at the Elida porphyry Cu-Mo-Ag project in central Perú has been signed, expiring April 30, 2030, supporting the Company's application for a new drill permit under an expanded Declaración de Impacto Ambiental that would increase authorized drilling platforms from 20 to 40 and allow drilling for a further five years. An ongoing magnetotellurics survey covers more than 100 stations across a 5 km by 6 km area, targeting depths beyond 2,000 m.
CorporateElement 29 Resources Provides an Update on its Elida Porphyry Cu-Mo-Ag Deposit and Corporate Developments
A magnetotellurics survey of more than 100 stations across a 5 km by 6 km area has begun at the Elida Cu-Mo-Ag deposit in central Perú, targeting depths beyond 2,000 m ahead of a Phase-III drill restart in Q3 2025. A DIA environmental application seeking to raise authorized drill platforms from 20 to 40 was submitted to MINEM, and a five-year surface access agreement with the host community is being finalized. Michael Au was appointed CFO, succeeding Duane Lo, effective May 21, 2025.
CorporateElement 29 Resources Engages Torrey Hills Capital
San Diego Torrey Hills Capital, Inc. has been retained, subject to regulatory approval, to increase awareness of Element 29 among US investment professionals, advisors and money managers, at US$8,000 per month for a three-month term, with principal Cliff Mastricola handling all activities. Torrey Hills is arm's length and holds no interest in the Company. Element 29 also granted 2,370,000 stock options exercisable at $0.49 per share for five years, plus 150,000 DSUs to directors and 126,000 RSUs to employees and consultants.
FinancingElement 29 Announces Results from Elida Phase-III Drill Program including 1039.6 metres of 0.54% CuEq2
Drill hole ELID033 at the Elida porphyry Cu-Mo-Ag deposit in central Perú returned 1,039.6 m of 0.54% CuEq (0.39% Cu, 0.036% Mo, 2.96 g/t Ag) from bedrock surface to the end of hole at 1,109.6 m, including 310.1 m of 0.71% CuEq from 799.5 m. ELID035 returned 922.4 m of 0.54% CuEq (0.33% Cu, 0.045% Mo, 2.76 g/t Ag), while ELID034 was lost at 161.2 m after 107.2 m of 0.39% CuEq. The remaining four holes of the 5,000 m Phase-III program are planned to resume in early Q2 2025, with an AMT survey in Q1.
Drill resultsElement 29 Resources – Reviewing 2024 and a Look Ahead to 2025
A shareholder letter reviewing 2024 reports the Company raised $3.26 million and completed two deep diamond drill holes at the Elida Porphyry Cu-Mo-Ag Deposit in Perú, both intersecting greater than 950 metres of porphyry alteration from bedrock surface, with hole ELID033 still in strong alteration at 1,109.6 metres; assays are expected in the coming weeks. Planned 2025 work includes restarting the remaining 5,000 metre Elida Phase III drilling in Q2, an AMT survey in late Q1, a DIA approval to expand drill permits from 20 to 40 platforms, Flor de Cobre permitting in Q2, and a Paka drill permit application in Q1.
Corporate
202411 releases
Element 29 Completes the First Two Holes from the Phase-III Drill Program at its Elida Porphyry Cu-Mo-Ag Deposit in Central Perú
Two drill holes totalling 2,249.8 m have been completed in the Phase-III diamond drill program at the Elida porphyry Cu-Mo-Ag deposit in central Perú. ELID033 reached 1,109.6 m and ELID035 reached 979.0 m, both ending in strong porphyry-related alteration; a third hole, ELID034, was lost at 161.2 m during a drill bit change. Assay results are expected in the coming weeks, and drilling is scheduled to restart in early Q2 2025 after the rainy season.
Drill resultsElement 29 Receives Prior Consultation Process Exemption for the Atravesado Porphyry Cu-Mo Target Drill Permit
Peru's Ministry of Energy and Mines notified Element 29 on October 21, 2024 that it is exempt from the Consulta Previa process for exploration drilling at the wholly-owned Atravesado porphyry copper-molybdenum target, part of the Flor de Cobre project in the Southern Perú Copper Belt. Following an earlier DIA approval to drill from up to 40 platforms, completion of a surface access agreement with the host community would satisfy remaining requirements for an Authorization to Initiate Exploration Activities, with an initial drill program planned for 2025.
CorporateElement 29 Commences Resource Expansion Drill Program at its Elida Porphyry Cu-Mo-Ag Deposit in Central Perú
Drilling has begun at the Elida porphyry Cu-Mo-Ag deposit in central Perú, with a program of up to 4,000 m of diamond drilling expected to continue until early December 2024, aimed at expanding the existing pit-constrained inferred resource of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag. First hole ELID033 sits 200 m west of ELID025, which returned 908.75 m of 0.39% Cu, 0.035% Mo and 2.9 g/t Ag. The Company also granted 5,250,000 options at $0.255, 275,000 DSUs and 265,000 RSUs, and engaged Connect 4 Marketing for $5,200 plus $4,500 monthly.
Drill resultsElement 29 Closes Private Placement of $3.26 Million
A non-brokered private placement of 13,058,984 units at $0.25 per unit has closed for gross proceeds of $3,264,746. Each unit comprises one common share and one non-transferable warrant exercisable at $0.50 until August 29, 2027; insiders subscribed for 2,150,000 units and cash finder's fees of $92,767.50 were paid. Net proceeds will fund exploration at the Company's Peru projects and general working capital, with a hold period expiring December 30, 2024.
FinancingElement 29 Announces Private Placement of up to $3,000,000
A non-brokered private placement of up to 12,000,000 units at $0.25 per unit for gross proceeds of up to $3,000,000 is planned, with each unit comprising one common share and one warrant exercisable at $0.50 for 36 months from closing. Proceeds will fund a 4,000-metre phase 3 diamond drill program and metallurgical test work at the Elida Porphyry Cu-Mo-Ag Deposit in Peru, geological mapping at Flor de Cobre, environmental baseline studies at Paka, and working capital. Finders may receive a 7.0% cash fee; TSX Venture Exchange approval is required.
FinancingElement 29 Announces 2024 AGM Results
Shareholders at the June 27, 2024 annual general meeting approved all matters, setting the board at five directors and electing Patrick Elliott, Chet Idziszek, Brad Mercer, Richard Osmond and Mary-Carmen Vera. Davidson & Company LLP was re-appointed as auditors and the Stock Option Plan renewal was approved. Following the meeting, Brad Mercer was appointed independent Chair of the Board.
CorporateElement 29 Announces New Board Nominees
Brad Mercer, Chet Idziszek and Mary-Carmen Vera have been nominated as new independent directors for election at the 2024 Annual General Meeting on June 27, 2024, alongside existing directors Richard Osmond and Patrick Elliott. Robert Willis is retiring from the board and will not stand for re-election. The Company also granted 50,000 deferred share units to a director under its RSU/DSU Plan effective May 31, 2024.
ManagementElement 29 Announces Appointment of Stellium Service Ltd as Investor Relations Consultant
Stellium Service Ltd. has been retained, subject to regulatory approval, to provide investor communications and outreach programs in the European and Australasian regions for £3,000 per month over an initial 12-month term, effective immediately. Stellium, based in London, UK with principal Andrew Wilson, is at arm's length to Element 29 and has no current ownership interest in the Company. Element 29 is advancing its Elida and Flor de Cobre porphyry copper projects in Peru.
ManagementElement 29 Receives Environmental Permit for Flor de Cobre Copper Project and Announces Partnership with GlobeTrotters on Exploration Activities
Environmental permit approval (Declaración de Impacto Ambiental) has been granted for exploration drilling at the Atravesado porphyry target on the wholly-owned Flor de Cobre copper project in southern Peru, allowing drilling from up to 40 platforms; the company has applied for the Authorization to Initiate Exploration Activities and expects the drill permit by Q3 2024. Element 29 also plans to partner with GlobeTrotters Resource Group, its largest shareholder, to share technical and operational resources in Peru. Separately, subsidiary Candelaria Resources S.A.C.
CorporateElement 29 Announces Appointment of Manuel Montoya as Chief Technical Officer
Manuel Montoya has been appointed Chief Technical Officer of Element 29 Resources. Montoya has over 35 years of experience in the natural resource sector, primarily in South America, and was part of the GlobeTrotters Resource Group team that made the initial discovery of the Elida porphyry Cu-Mo-Ag deposit and the Atravezado porphyry Cu-Mo target at Flor de Cobre in Peru. He previously held chief and principal geologist roles with Cominco Perú, Teck Cominco and Teck.
ManagementElement 29 Resources Announces Director and Officer Changes
Steve Stakiw has resigned as President, Chief Executive Officer and director of Element 29 Resources, along with Paul Johnston as Vice President, Exploration and directors Peter Espig and Michael Doggett. Chairman Richard Osmond becomes Chief Executive Officer, and Robert Willis (P.Eng) is appointed a director. Willis has more than 35 years in the mineral resources industry and is currently Senior Advisor for Sun Summit Minerals Corp.
Management
20238 releases
Element 29 Resources Closes Private Placement of $2.86 Million
A non-brokered private placement of 19,045,253 units at $0.15 per unit closed for gross proceeds of $2,856,788. Each unit comprises one common share and one non-transferable warrant exercisable at $0.25 until September 13, 2025; insiders bought 1,120,000 units and finder's fees of $144,007 were paid. Net proceeds will fund exploration at the company's Peru projects and general working capital, with securities subject to a hold period expiring January 14, 2024.
FinancingElement 29 Announces Increase of Private Placement to $2.9 Million
The non-brokered private placement first announced July 31, 2023 has been increased to up to 19,333,333 units at $0.15 per unit for gross proceeds of up to $2,900,000. Each unit comprises one common share and one non-transferable warrant exercisable at $0.25 for 24 months from closing, with finders eligible for a 7.0% cash fee. Proceeds will fund exploration at the company's Peru projects and general working capital, subject to TSX Venture Exchange approval.
FinancingElement 29 Terminates Previous Offering and Announces New Private Placement Financing of up to $2 million
A non-brokered private placement of up to 13,333,333 units at $0.15 per unit for gross proceeds of up to $2,000,000 has been launched, replacing the offering announced on May 30, 2023, which has been terminated. Each unit includes one common share and one warrant exercisable at $0.25 for 24 months from closing, with finders eligible for a 7.0% cash fee. Proceeds will fund exploration at the Company's Peru projects and general working capital, subject to TSX Venture Exchange approval.
FinancingElement 29 Announces Private Placement of up to $2 million
A non-brokered private placement of up to 11,111,111 units at C$0.18 per unit for gross proceeds of up to C$2,000,000 is planned, with each unit comprising one common share and one-half of a non-transferable warrant exercisable at C$0.27 for 24 months after closing. Finders may receive a cash fee of 7.0% of gross proceeds they arrange, and directors and officers may participate. Proceeds will fund exploration at the company's Peru projects and general working capital, subject to TSX Venture Exchange approval.
FinancingElement 29 Announces Results from Elida Phase 2 Drill Program including 404.5 metres of 0.60% CuEq1
Phase 2 drilling at the 100%-owned Elida copper project in central Peru totalled 2,043 metres in seven holes. ELID032 intersected 404.5 m of 0.45% Cu, 0.032% Mo and 3.6 g/t Ag (0.60% CuEq) from the bedrock surface at 45.5 m, including 123.0 m of 0.68% CuEq, and ended in mineralization at 450.0 m; ELID031 returned 366.9 m of 0.38% CuEq. Three Zone 2 holes returned no significant copper values. Preliminary metallurgical testing is planned.
Drill resultsElement 29 Reports Positive Sequential Copper Leach Results from the Flor de Cobre Project
Sequential copper leach analysis was completed on 1,233 metres of drill core (674 samples) from the secondary copper enrichment intervals of the 12 holes drilled in 2022 at the Flor de Cobre copper-molybdenum project in southern Peru, 26 km southeast of the Cerro Verde mine. Results indicate the main enrichment zone at Candelaria is dominated by soluble secondary sulphide (chalcocite) with a minor copper oxide component, with chalcopyrite dominant beneath. The data will inform follow-up metallurgical test work.
Study resultsElement 29 Announces Upsize of Non-Brokered Private Placement
Its previously announced non-brokered private placement has been increased by up to 1,475,000 units, raising the total to up to 7,725,000 units at $0.20 per unit for aggregate gross proceeds of up to $1,545,000. Each unit includes one common share and one-half warrant exercisable at $0.30 for two years from closing, with finders eligible for a 6% cash fee. Proceeds will fund an initial mineral resource estimate for the Flor de Cobre project in Peru and working capital.
FinancingElement 29 Closes Private Placement of $1.54 Million
A non-brokered private placement of 7,725,000 units at $0.20 per unit closed for gross proceeds of $1,545,000, each unit comprising one common share and one-half warrant exercisable at $0.30 for two years. Insiders subscribed for 330,000 units; finder's fees of $30,900 were paid to Haywood Securities and $600 to Canaccord Genuity. Net proceeds will fund a planned initial mineral resource estimate for the Flor de Cobre project in Peru and general working capital.
Financing
202211 releases
Element 29 Announces Private Placement of up to $1.25 Million
A non-brokered private placement of up to 6,250,000 Units at $0.20 per Unit for gross proceeds of up to $1,250,000 is planned, with each Unit comprising one common share and one-half warrant exercisable at $0.30 for two years from closing. Finders may receive a cash fee of 6% of gross proceeds raised on subscriptions they arrange. Net proceeds will fund a planned initial mineral resource estimate for the Flor de Cobre project in Peru and general working capital. Closing is subject to TSX Venture Exchange acceptance, with a four-month hold period.
FinancingElement 29 Lists on the Lima Stock Exchange
Element 29 Resources' common shares began trading on the Bolsa de Valores de Lima on November 16, 2022 under the ticker symbol ECU. Kallpa Securities S.A.B. of Lima, Peru acted as sponsoring broker for the listing. The company is also listed on the TSX-V (ECU) and OTCQB (EMTRF), and holds the Elida Porphyry Copper Deposit and Flor de Cobre Copper Project in Peru.
CorporateElement 29 Announces Filing of Technical Report for Initial Mineral Resource Estimate at its Elida Porphyry Copper Deposit in Peru
An NI 43-101 technical report dated November 10, 2022, with an effective date of September 20, 2022, has been filed for the initial mineral resource estimate at the Elida porphyry copper deposit in west-central Peru. The pit-constrained Inferred resource totals 321.7 million tonnes grading 0.32% copper (2.24 billion pounds contained), 0.029% molybdenum and 2.6 g/t silver at a 0.20% Cu cut-off, with a 0.74:1 strip ratio. A higher-grade subset holds 34.1 million tonnes at 0.55% Cu, 0.037% Mo and 4.4 g/t Ag. The estimate covers one of five porphyry centres.
Resource updateElement 29 Commences Phase 2 Drill Program at the Elida Copper Deposit in Peru
An approximately 2,000 metre Phase 2 drill program has begun at the Elida copper-molybdenum deposit in west-central Peru. The program will test extensions of higher-grade mineralization internal to the Zone 1 deposit, including a near-surface subset of 34.1 million inferred tonnes at 0.55% copper, 0.037% molybdenum and 4.4 g/t silver at a 0.45% copper cut-off, and complete an initial test of Zone 2. Zone 1 hosts an initial inferred resource of 321.7 million tonnes at 0.32% copper, 0.03% molybdenum and 2.6 g/t silver.
Drill resultsElement 29 Announces Initial Mineral Resource Estimate for the Elida Porphyry Copper Deposit in Peru
An initial pit-constrained Inferred Mineral Resource of 321.7 million tonnes grading 0.316% copper (2,241.2 million pounds contained copper), 0.029% molybdenum and 2.61 g/t silver, at a 0.20% copper cut-off and a 0.74:1 strip ratio, has been estimated for the Elida porphyry copper-molybdenum deposit in west-central Peru, effective September 20, 2022. A higher-grade subset at a 0.45% copper cut-off totals 34.1 million tonnes at 0.547% copper, 0.037% molybdenum and 4.40 g/t silver. The estimate covers part of Zone 1, one of five porphyry centres; a NI 43-101 technical report will be filed within 45 days.
Resource updateElement 29 Releases Final Results from Flor de Cobre Drill Program Including 329.4 Metres of 0.56% Cu in Hole FDC011
Final three holes from the 4,532 metre, twelve-hole drill program at the Flor de Cobre copper project in southern Peru returned 329.4 m of 0.56% Cu from 183.1 m in FDC011, including 100.1 m of 0.99% Cu, and 393.1 m of 0.51% Cu, 0.005% Mo, 1.5 g/t Ag from 79.9 m in FDC012, including 152.1 m of 0.82% Cu. FDC010 returned 135.45 m of 0.40% Cu. A mineral resource estimate for Candelaria is planned for the latter half of 2022.
Drill resultsElement 29 Completes Validation Of Flor De Cobre Historical Drilling And Will Proceed With Mineral Resource Estimation
Results from the final four twinned holes of a 4,500 m, twelve-hole drill program at the Flor de Cobre copper project in southern Peru include FDC007 with 68.50 m of 0.45% Cu from 114.50 m, and FDC008 with 129.5 m of 0.29% Cu from 30.50 m. The twinning confirmed that 1994–1995 Rio Amarillo and Phelps Dodge historical drill data is sufficiently reliable to be used in a mineral resource estimate meeting CIM best practice guidelines, which the company will now undertake. Results for the three deeper angled holes, FDC010 to FDC012, are pending.
Drill resultsElement 29 Further Confirms Past Drill Results Used In Historical Copper Resource Estimate At Flor De Cobre
Three additional drill holes from the 4,500 m, twelve-hole program at the Flor de Cobre copper project in southern Peru returned 295.65 m of 0.38% Cu in FDC003, including 46.95 m of 0.69% Cu as oxides and 67.30 m of 0.46% Cu enriched sulphide, plus 145.50 m of 0.30% Cu primary sulphide; FDC004 returned 164.60 m of 0.43% Cu and FDC005 143.00 m of 0.34% Cu. The holes twin historical holes CAR-190, CAR-189 and M-008, with results pending for FDC006 through FDC012 ahead of an initial resource estimate.
Drill resultsElement 29 Drills 349.0 Metres Of 0.77% Copper Including 123.0 Metres of 1.42% Copper As Enrichment at Flor De Cobre
Drill hole FDC001 at the Flor de Cobre copper project in southern Peru returned 349.0 m of 0.77% Cu, including 123.0 m of 1.42% Cu in the enriched sulphide zone and 226.0 m of 0.42% Cu in primary sulphide below; FDC002 returned 378.55 m of 0.50% Cu, including 130.7 m of 0.90% Cu and 247.85 m of 0.30% Cu. Both twinned legacy holes K-008 and CAR-188 with similar grades. Holes FDC003 to FDC009 are complete with assays pending.
Drill resultsElement 29 Announces the Appointment of Steve Stakiw as CEO
Steve Stakiw has been appointed President, Chief Executive Officer and a Director of Element 29 Resources, effective April 11, 2022. A geologist with over 25 years in the mining sector, he was most recently Senior Vice President at New Pacific Metals Corp. and previously Vice President of Investor Relations at Trevali Mining Corp. In connection with the appointment, he was granted 500,000 stock options exercisable at $0.59 per share for five years, subject to regulatory acceptance.
ManagementElement 29 Announces Grant Of Incentive Stock Options
A total of 2,345,000 stock options have been granted to directors, officers, employees and consultants under the company's incentive stock option plan, subject to regulatory acceptance, exercisable at $0.57 per share for five years. Element 29 also granted 300,000 deferred share units to directors and 500,000 restricted share units to employees and consultants under its RSU/DSU Plan, subject to applicable securities law hold periods.
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