Element 29 Resources Inc. has closed a $12.0 million non-brokered private placement at $1.65 per share. The proceeds are intended to fund exploration activities across its copper projects in Peru, including the flagship Elida project.
Element 29 Resources Inc. has renewed its agreement with Port Guichon Strategic Advisory for investor relations and engaged Velocity Trade Capital Ltd. to provide market-making services. The company also provided an update on the Elida project, noting ongoing diamond drilling and referencing a 2022 Inferred Mineral Resource Estimate of 321.7 Mt at 0.32% Cu.
Element 29 Resources Inc. has appointed Dylan Berg as Vice President, Investor Relations and Marketing. The announcement also provides a summary of the company's flagship Elida porphyry copper-molybdenum-silver deposit in Perú.
Element 29 Resources has received DIA environmental certification for its Paka porphyry-skarn project in Peru, a key step toward securing a drilling permit. Additionally, the company provided an update on its Elida porphyry project, where ongoing drilling is targeting resource expansion beyond the previous pit shell.
Element 29 Resources reported significant drill results at the Elida Porphyry project in Perú, highlighted by a 1,489 m intercept of 0.58% CuEq in hole ELID037. These results extend mineralization well beyond the current pit-constrained resource and correlate with a large geophysical anomaly, suggesting potential for significant resource expansion.
Element 29 Resources Inc. has received DIA environmental certification from the Peruvian Ministry of Energy and Mines, a key step in expanding its permitted drilling footprint at the Elida porphyry project. This milestone, alongside a new five-year community access agreement, supports the upcoming application for a replacement drilling permit (PIA) to continue exploration beyond the current resource limits.
Element 29 Resources Inc. has mobilized a third drill rig to accelerate its exploration program at the Elida Porphyry Cu-Mo-Ag deposit in Perú, aiming to expand the existing Inferred Mineral Resource. The company also announced the exercise of warrants, generating CAD$4.6 million in gross proceeds to fund the campaign and working capital.
Element 29 has commenced a 7,000m diamond drilling program at its Elida porphyry Cu-Mo-Ag deposit in Perú to expand the existing Inferred Mineral Resource. The campaign targets high-grade copper-core potential at depth and resource expansion beyond the current pit shell, guided by recent magnetotelluric geophysical surveys.
Alta Copper has entered into a definitive option agreement with Precore Gold Corp. for its 100% owned Arikepay copper-gold project in Peru. The agreement includes staged interest acquisitions, significant milestone payments tied to resource and study completions, and a total exploration commitment of Cdn$9,000,000 over 10 years. Additionally, the company announced the termination of its JV agreement for the Don Gregorio project to seek improved terms.
