Element 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, Peru
Original announcement by tmx on
- Company
- Element 29 Resources Inc.
- Ticker
- ECU
- Exchange
- TSX
- Region
- Peru
- Primary commodity
- Copper
- Secondary commodities
- Molybdenum, Silver
- Document categories
- Drill results, Other
- Extracted
- 2026-09-19 18:37:08 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Element 29 has reported significant drill results from its Elida Porphyry project in Peru, headlined by a 1,534.6 m intercept in hole ELID035 grading 0.58% CuEq. These results extend mineralization well beyond the current Mineral Resource Estimate limits, demonstrating continuity at depth.
Reasoning: The release reports exceptional drill intercepts that extend the known mineralized footprint significantly beyond the current resource estimate, demonstrating both scale and depth continuity in a porphyry system.
Positive factors
- Significant extension of mineralization beyond current MRE limits
- Very long continuous intercept (over 1,500m)
- Discovery of deeper, higher-grade zones
- Continuity demonstrated at depth
Negative factors
- True widths not yet known (apparent widths only)
Facts used in scoring: 5
Classification and evidence
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: Mineralization extended more than 1,000m beyond the limits of the current Mineral Resource Estimate.
Evidence · text
“extending mineralization more than 1,000 m beyond the limits of the current Mineral Resource Estimate”
Apparent Width Onlynegative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Why it applies: Reported intercepts represent downhole lengths; true widths are not known at this time.
Evidence · text
“Reported intercepts represent downhole lengths; true widths are not known at this time.”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: Release includes details on independent accredited laboratory (ALS), insertion of duplicates, blanks, and standards.
Evidence · text
“ALS is an independent, accredited analytical laboratory operating in accordance with ISO/IEC 17025:2017 quality standards.”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Drill Results (5)
ELID035Elida · copperGrade: 0.34Grade Unit: %Intercept: 1534.6 mView all detailsHide details
Identity
- Hole ID
- ELID035
- Project
- Elida
- Commodity
- copper
- Region
- peru
- Reported Region
- peru
- Ticker
- ECU
Geometry
- Grade
- 0.34
- Grade Unit
- %
- Intercept
- 1534.6 m
- From
- 56.6 m
- To
- 1591.2 m
- Hole Depth
- 1591.2 m
- Intercept Depth
- 56.6 m
Classification
- Deposit Type
- porphyry
- Program
- exploration
- Sample Type
- drill
- Group ID
- ELID035:56.6-1591.2
- Mining Method
- open_pit
Location
- Loc. Confidence
- medium
QA/QC
- Laboratory
- ALS Peru S.A.C.
- QA/QC Disclosed
- Yes
- Lab Certified
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks, duplicates
Metal Equivalent
- Metal Eq. Grade
- 0.58
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-07-23T00:00:00.000Z
Reasoning: Exceptional scale of the intercept extending the resource footprint.
Positive factors
- Extremely long continuous intercept
Evidence · text
“ELID035 intersected 1,534.6 metres ("m") grading 0.58% CuEq 2 (0.34% Cu, 0.064% Mo, and 2.56 g/t Ag), from 56.6 m to the end of hole at 1,591.2 m.”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Element 29 Extends Mineralization in ELID035 with Longest Intercept of 1,534.6 m Grading 0.58% CuEq2 at its Elida Porphy"
ELID035Elida · molybdenumGrade: 0.064Grade Unit: %Intercept: 1534.6 mView all detailsHide details
Identity
- Hole ID
- ELID035
- Project
- Elida
- Commodity
- molybdenum
- Region
- peru
- Reported Region
- peru
- Ticker
- ECU
Geometry
- Grade
- 0.064
- Grade Unit
- %
- Intercept
- 1534.6 m
- From
- 56.6 m
- To
- 1591.2 m
- Hole Depth
- 1591.2 m
- Intercept Depth
- 56.6 m
Classification
- Deposit Type
- porphyry
- Program
- exploration
- Sample Type
- drill
- Group ID
- ELID035:56.6-1591.2
- Mining Method
- open_pit
Location
- Loc. Confidence
- medium
QA/QC
- Laboratory
- ALS Peru S.A.C.
- QA/QC Disclosed
- Yes
- Lab Certified
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks, duplicates
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-07-23T00:00:00.000Z
Reasoning: Secondary metal in a large porphyry intercept.
Evidence · text
“0.064% Mo”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Element 29 Extends Mineralization in ELID035 with Longest Intercept of 1,534.6 m Grading 0.58% CuEq2 at its Elida Porphy"
ELID035Elida · silverGrade: 2.56Grade Unit: g/tIntercept: 1534.6 mView all detailsHide details
Identity
- Hole ID
- ELID035
- Project
- Elida
- Commodity
- silver
- Region
- peru
- Reported Region
- peru
- Ticker
- ECU
Geometry
- Grade
- 2.56
- Grade Unit
- g/t
- Intercept
- 1534.6 m
- From
- 56.6 m
- To
- 1591.2 m
- Hole Depth
- 1591.2 m
- Intercept Depth
- 56.6 m
Classification
- Deposit Type
- porphyry
- Program
- exploration
- Sample Type
- drill
- Group ID
- ELID035:56.6-1591.2
- Mining Method
- open_pit
Location
- Loc. Confidence
- medium
QA/QC
- Laboratory
- ALS Peru S.A.C.
- QA/QC Disclosed
- Yes
- Lab Certified
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks, duplicates
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-07-23T00:00:00.000Z
Reasoning: Secondary metal in a large porphyry intercept.
Evidence · text
“2.56 g/t Ag”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Element 29 Extends Mineralization in ELID035 with Longest Intercept of 1,534.6 m Grading 0.58% CuEq2 at its Elida Porphy"
ELID042Elida · copperGrade: 0.28Grade Unit: %Intercept: 805.8 mView all detailsHide details
Identity
- Hole ID
- ELID042
- Project
- Elida
- Commodity
- copper
- Region
- peru
- Reported Region
- peru
- Ticker
- ECU
Geometry
- Grade
- 0.28
- Grade Unit
- %
- Intercept
- 805.8 m
- From
- 123.7 m
- To
- 929.5 m
- Hole Depth
- 1745.1 m
- Intercept Depth
- 123.7 m
Classification
- Deposit Type
- porphyry
- Program
- exploration
- Sample Type
- drill
- Group ID
- ELID042:123.7-929.5
- Mining Method
- open_pit
Location
- Loc. Confidence
- medium
QA/QC
- Laboratory
- ALS Peru S.A.C.
- QA/QC Disclosed
- Yes
- Lab Certified
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks, duplicates
Metal Equivalent
- Metal Eq. Grade
- 0.36
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-07-23T00:00:00.000Z
Reasoning: Significant width and extension beyond existing pit shell.
Positive factors
- Extends mineralization 500m beyond current pit shell
Evidence · text
“ELID042 ... returned 805.8 m grading 0.36% CuEq2 (0.28% Cu, 0.023% Mo, and 3.68 g/t Ag) from 123.7 m to 929.5 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Element 29 Extends Mineralization in ELID035 with Longest Intercept of 1,534.6 m Grading 0.58% CuEq2 at its Elida Porphy"
ELID043Elida · copperGrade: 0.23Grade Unit: %Intercept: 343.8 mView all detailsHide details
Identity
- Hole ID
- ELID043
- Project
- Elida
- Commodity
- copper
- Region
- peru
- Reported Region
- peru
- Ticker
- ECU
Geometry
- Grade
- 0.23
- Grade Unit
- %
- Intercept
- 343.8 m
- From
- 952.2 m
- To
- 1296 m
- Hole Depth
- 1296 m
- Intercept Depth
- 952.2 m
Classification
- Deposit Type
- porphyry
- Program
- exploration
- Sample Type
- drill
- Group ID
- ELID043:952.2-1296
- Mining Method
- open_pit
Location
- Loc. Confidence
- medium
QA/QC
- Laboratory
- ALS Peru S.A.C.
- QA/QC Disclosed
- Yes
- Lab Certified
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks, duplicates
Metal Equivalent
- Metal Eq. Grade
- 0.3
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-07-23T00:00:00.000Z
Reasoning: Deep intercept demonstrating continuity and potential for expansion.
Positive factors
- Suggests system is open at depth and to the west
Evidence · text
“The deepest of these intervals returned 343.8 m grading 0.30% CuEq2 (0.23% Cu, 0.021% Mo, and 2.53 g/t Ag) from 952.2 m to the end of hole”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Element 29 Extends Mineralization in ELID035 with Longest Intercept of 1,534.6 m Grading 0.58% CuEq2 at its Elida Porphy"
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.