- Element 29 Resources (EMTRF, Financial) identifies six major resistivity anomalies at Elida, suggesting significant resource expansion potential.
- Previous drilling intersected 1,039.6m of 0.54% CuEq, including 310.1m of 0.71% CuEq.
- The company is set to resume Phase-III drilling to potentially expand the current resource estimate.
Element 29 Resources (OTCQB: EMTRF) announced the discovery of significant geophysical anomalies at its Elida Porphyry Copper-Molybdenum-Silver Deposit in Peru. The recent magnetotellurics (MT) geophysical survey identified six major resistivity anomalies, some correlating with existing mineralization and others extending beyond currently mapped areas. This suggests a substantial potential for expanding the resource footprint.
The MT survey spanned a 5 km by 6 km area with 122 stations, producing a high-resolution 3D resistivity model reaching depths of over 3,000 meters. Among the anomalies, a high-resistivity feature was found to align with existing Cu-Mo-Ag mineralization, further substantiating the geological model. Additionally, several large, untested low-resistivity anomalies were detected, promising new discovery zones beyond the current 2.5 km by 2.5 km phyllic hydrothermal alteration footprint.
Previous drilling efforts at Elida have returned impressive results, including an intersection of 1,039.6 meters grading 0.54% Copper Equivalent (CuEq), with a higher-grade portion of 310.1 meters at 0.71% CuEq. These compelling findings will guide Element 29's Phase-III drilling program, aimed at expanding the pit-constrained Inferred Mineral Resource Estimate and enhancing overall Cu-Mo-Ag grades.
The Elida project is situated in a world-class mining jurisdiction in Peru, benefiting from its strategic location and existing infrastructure. Element 29 is poised to explore this opportunity further, leveraging the detailed insights and targets provided by the MT survey to advance the project toward a Tier-1 discovery.
