Element 29 Resources Inc. Updates on Elida Porphyry Deposit and Corporate Developments

In a series of announcements on May 21, 2025, Element 29 Resources Inc., a mineral exploration company based in Vancouver, Canada, provided significant updates on its flagship Elida Porphyry Copper-Molybdenum-Silver (Cu-Mo-Ag) deposit in central Peru. The company, listed on the TSX Venture Exchange, has been actively working towards enhancing its exploration and development capabilities.

Exciting Drilling Results and Expansion Plans

Element 29 recently reported strong drilling results from hole ELID033, which revealed an impressive 1,039.6 meters at 0.54% CuEq from the surface. This promising outcome underscores the potential of the Elida deposit and sets the stage for further exploration activities. The company is also in the process of expanding its drilling capacity from 20 to 40 platforms, pending regulatory approval. This expansion is crucial for accelerating the exploration and development of the deposit.

Securing Community Support and Environmental Approvals

A key aspect of Element 29’s strategy involves maintaining strong relationships with local communities. The company has successfully secured a new five-year surface access agreement with the host community, ensuring continued support and cooperation. Additionally, Element 29 has submitted a Declaración de Impacto Ambiental (DIA) environmental approval application, which is essential for expanding drill capacity. While awaiting regulatory approval for the DIA and drilling permits, the company remains committed to sustainable and responsible development practices.

Advanced Geophysical Surveys and Leadership Changes

To further its exploration efforts, Element 29 has launched a large-scale magnetotellurics (MT) geophysical survey at Elida. This advanced survey aims to identify deeper mineralization potential, setting the groundwork for the planned Phase-III drill program restart in Q3 2025. In corporate developments, Element 29 announced the appointment of Michael Au as Chief Financial Officer, succeeding Duane Lo. This leadership change is part of the company’s ongoing efforts to strengthen its financial and operational capabilities.

Marketing and Future Outlook

Element 29 has also engaged the Caesars Report for a one-year marketing campaign, aimed at enhancing the company’s visibility and attracting potential investors. With these strategic initiatives, Element 29 Resources Inc. is well-positioned to advance its exploration and development activities at the Elida deposit, driving value for its shareholders.

As the company navigates these developments, stakeholders and investors will be keenly watching for further updates on regulatory approvals and the progress of the upcoming drill program. Element 29’s proactive approach to exploration and community engagement highlights its commitment to unlocking the full potential of its resource properties.