Element 29 Resources a Vancouver-based copper explorer with projects in Peru, has released its first resource estimates for the Elida project in the Andean nation, with an initial resource soon to follow from its Flor de Cobre project.
Both properties were previously drilled and returned intercepts of potentially economic grades with low observed levels of deleterious elements like arsenic.
“I think this is a very significant initial copper resource estimate that we’ve delivered,” said CEO Steve Stakiw, a geologist who joined the company in April. “The potential to grow this is great. Also, the molybdenum is almost double global average moly grades in copper-porphyry systems and has the potential to enhance the economics of the deposit.”
