- Authorities have granted Element 29 Resources (ECU) permission to begin exploration on its Flor de Cobre Copper Project
- The company plans to initiate a drill program consisting of approximately 3,700 metres of diamond drilling at the project’s Candeleria target area
- The company’s flagship Flor de Cobre Project is located in southern Perú
- A total of 2,180 metres has been allocated to twin nine legacy drill holes to verify the accuracy of existing historical geochemical assay and drill logs
- Historical assay results are interpreted to represent 70 per cent of the copper contained in the historical copper resource
- Element 29 Resources is up 3.51 per cent, trading at $0.59 at 1:17 pm EST
Authorities have granted Element 29 Resources (ECU) permission to begin exploration on its Flor de Cobre Copper Project.
The company plans to initiate a drill program consisting of approximately 3,700 metres of diamond drilling at the project’s Candeleria target area.
The Vancouver-based mineral exploration company’s flagship Flor de Cobre porphyry Cu-Mo project is located in southern Perú, 26 kilometres southeast of Freeport-McMoRan’s Cerro Verde Cu-Mo mine.
A total of 2,180 metres has been allocated to twin nine legacy drill holes to verify the accuracy of existing historical geochemical assay and drill logs.
Historical geochemical assay results from these nine drill holes are interpreted to represent 70 per cent of the copper contained in the historical copper resource.
“Receiving the permits to start the drill program at our Flor de Cobre Copper Project is yet another important milestone for the Company, and follows the successful execution of the Elida deposit drill program. Flor de Cobre comprises two highly prospective porphyry centres – Candeleria and Atravezado. Candelaria was drilled in the 1990s and outlined an historical resource estimate of 57.4 million tonnes of 0.67% copper associated with a supergene enrichment blanket. The upcoming drill program will allow Element 29 to complete a potential mineral resource estimate compliant with NI 43-101 disclosure requirements while continuing to explore the system at depth. We are also very pleased to welcome Mr. Bruce Turner to the team. Bruce is a Professional Engineer with over 40 years of international mining experience and is an expert in open pit copper mining. His contributions will be invaluable as we continue to develop our copper projects in Perú,” said Chairman and Interim CEO Richard Osmond.
Element 29 Resources is up 3.51 per cent, trading at $0.59 at 1:17 pm EST.