Element79 Gold - Advancements in Field Work and Community Rela�ons in Lucero Region
Element79 Gold - Advancements in Field Work and Community Rela�ons in
Lucero Region
VANCOUVER, BC / THENEWSWIRE / November 14, 2023 – Element79 Gold Corp. (CSE: ELEM) (OTC:
ELMGF) (FSE: 7YS) ("Element79 Gold", the "Company") is pleased to provide a comprehensive update on
the recent advancements in geologic field work and community rela�ons ini�a�ves in the Apacheta and
Sando Alcalde areas of its flagship Lucero property.
Geological Field Work Progress:
Recent field work was focused on surface mapping (1/2,500 scale) as well as surface and underground
sampling at the Apacheta and Sando Alcalde areas. Despite adverse weather condi�ons affec�ng surface
work, underground work at Sando Alcalde commenced on Saturday , September 21st, following
authoriza�on from The Community of Chachas, RRCC. The achievements include:
• Mine Workings Mapping: 1,400 linear metre s covered, represen�ng 40% more than the ini�al
target schedule.
• Surface Geological Mapping (1:2,500 scale): A total of 360 hectares were mapped, contribu�ng
to a cumula�ve total of more than 400 hectares.
• Field Sta�ons: 98 established, with a cumula�ve total of 279.
• Samples Collected: A total of 111 samples have been collected and sent to Cer�min Laboratory
(33 surface, 64 underground, and 14 QA/QC).
Recent reports highlight substan�al progress in field work and surface sampling, of the Apacheta area
mapping now 75% complete.
Geological Observa�ons:
Mineraliza�on occurs within vein-faults at both the botom and top. On the surface, it manifests as a
siliceous ledge with Fe-Mn oxides and an argillic halo. Three dis�nct surface events have been iden�fied:
massive gray silica, whi�sh silica, and drusy quartz filling cavi�es with OxFe.
There are two main structure types:
1. Base Metal Structure: Comprising galena-sphalerite-pyrite (1st event), rhodochrosite-rhodonite-
silica (breccia�ng sulfides, 2nd event), galena-pyrite-chalcopyrite band to the vein footwall (3rd
event), and drusy quartz with OxFe filling cavi�es (4th event).
2. Silica-Sulfide Structure: Characterized by a central suture of tens of cen�metres of gray silica-
pyrite-chalcopyrite-galena filled with drusy quartz and clay-OxFe halos.
Near these structures altera�on of gray to whi�sh silica with clays (possibly dickite?) is prevalent,
showing moderate to strong argillic altera�on. Halos generally do not exceed 2 metres in width. As one
moves away from the structures, the predominant altera�on shi�s to a weak to moderate chlorite-
epidote-calcite (propyli�c halo).
The structural orienta�on follows three main controls: AZ 330° for main veins, EW for faults and
secondary veins, and AZ 60° for some faults and the emplacement of the daci�c intrusive.
The ground team has recommended defining ore shoot projec�on and barren zones through orienta�on
sampling by sectors.
Community Rela�ons and Social Affairs:
Recent social affairs ini�a�ves include:
• Support in the Geology Area: Permanent monitoring during the day to avoid disrup�on of data
collec�on ac�vi�es.
• Engagement with Ar�sanal Miners: Visits to working areas to build posi�ve rela�ons and
awareness with ar�sanal miners in the upper parts of Lomas Doradas.
• Dialogue with Community Leaders: Personal dialogue with leaders and the president of Lomas
Doras and coordinate the entry of geologists for mapping ac�vi�es.
• Coordina�on for Entry to Galleries: Coordina�on with the president of the Chachas community
and the president of Lomas Doradas for entry to ac�ve mining galleries, ensuring safety through
collabora�on with project managers and security.
• Community Ini�a�ves: Ongoing efforts including the coordina�on of the formal delivery of the
pipe dona�on to be used by the Chachas community water conveyance project.
Element79 Gold remains commited to transparency, community engagement, and the responsible
development of its Lucero Property. The Company looks forward to con�nued progress and collabora�on
with the local community.
Qualified Person
The technical informa�on in this release has been reviewed and verified by Neil Pe�grew, M.Sc., P . Geo.,
Director of Element79 Gold and a "qualified person" as defined by Na�onal Instrument 43-101.
About Element79 Gold Corp.
Element79 Gold is a mining company focused on gold and silver commited to maximizing shareholder
value through responsible mining prac�ces and sustainable development of its projects. Element79 Gold's
focus is on developing its past -producing, high-grade gold and silver mine, the Lucero project located in
Arequipa, Peru, with the intent to restart produc�on in the near term.
The Company also holds a por�olio of 5 proper�es along the Batle Mountain trend in Nevada, with the
Clover and West Whistler projects believed to have significant poten�al for near -term resource
development. Three proper�es in the Batle Mountain Por�olio are under contract for sale to Valdo
Minerals Ltd., with an an�cipated closing date around the end of 2023. The Company has also signed an
Op�on Agreement to sell the Maverick Springs projec t, an advanced-stage exploratory property with an
Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) and an�cipates comple�ng this
sale on or before March 28, 2024.
In Bri�sh Columbia, Element79 Gold has executed a Leter of Intent and funded a drilling program to
acquire a private company that holds the op�on to 100% interest of the Snowbird High-Grade Gold Project,
which consists of 10 mineral claims located in Central Bri�sh Columbia, approximately 20km west of Fort
St. James.
The Company has an op�on to acquire a 100% interest in the Dale Property, 90 unpatented mining claims
located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has
transferred this project to its wholly-owned subsidiary, Synergy Metals Corp, and is advancing through the
Plan of Arrangement spin-out process through the rest of 2023.
For more informa�on about the Company, please visit www.element79.gold
Contact Informa�on
For corporate matters, please contact:
James C. Tworek, Chief Execu�ve Officer
E-mail: [email protected]
For investor relations inquiries, please contact:
Investor Rela�ons Department
Phone: +1.613.879.9387
E-mail: [email protected]
Cau�onary Note Regarding Forward Looking Statements
This press contains "forward-looking informa�on" and "forward -looking statements" under applicable
securi�es laws (collec�vely, "forward-looking statements"). These statements relate to future events or
the Company's future performance, business prospec ts or opportuni�es that are based on forecasts of
future results, es�mates of amounts not yet determinable and assump�ons of management made in light
of management's experience and percep�on of historical trends, current condi�ons and expected future
developments. Forward-looking statements include, but are not limited to, statements with respect to:
the Company's business strategy; future planning processes; explora�on ac�vi�es; the �ming and result
of explora�on ac�vi�es; capital projects and explora�on ac�vi�es and the possible results thereof;
acquisi�on opportuni�es; and the impact of acquisi�ons, if any, on the Company. Assump�ons may prove
to be incorrect and actual results may differ materially from those an�cipated. Consequently, forward-
looking statements cannot be guaranteed. As such, investors are cau�oned not to place undue reliance
upon forward -looking statements as there can be no assurance that the plans, assump�ons or
expecta�ons upon which they are placed will occur. All statements other than statements of historical fact
may be forward-looking statements. Any statements that express or involve discussions with respect to
predic�ons, expecta�ons, beliefs, plans, projec�ons, objec�ves or future events or performance (o�en,
but not always, using words or phrases such as "seek", "an�cipate", "plan", "con�nue", "es�mate",
"expect", "may", "will", "project", "predict", "forecast", "poten�al", "target", "intend", "could", "might",
"should", "believe" and similar expressions) are not statements of historical fact and may be "forward-
looking statements".
Actual results may vary from forward -looking statements. Forward -looking statements are subject to
known and unknown risks, uncertain�es and other factors that may cause actual results to materially differ
from those expressed or implied by such forward -looking statements, including but not limited to: the
dura�on and effects of the coronavirus and COVID -19; risks related to the integra�on of acquisi�ons;
actual results of explora�on ac�vi�es; conclusions of economic evalua�ons; changes in project parameters
as plans c on �nue t o be r e fined; c ommodity pric es; v aria �ons in or e r es erv es, g r ade or r ec ove ry r a t es ;
actual performance of plant, equipment or processes rela�ve to specifica�ons and expecta�ons;
accidents; labour rela�ons; rela�ons with local comm uni�es; changes in na�onal or local governments;
changes in applicable legisla�on or applica�on thereof; delays in obtaining approvals or financing or in the
comple�on of development or construc�on ac�vi�es; exchange rate fluctua�ons; req uirements for
addi�onal capital; government regula�on; environmental risks; reclama�on expenses; outcomes of
pending li�ga�on; limita�ons on insurance coverage as well as those factors discussed in the Company's
other public disclosure documents, available on www.sedarplus.ca. Although the Company has atempted
to iden�fy important factors that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to be as an�cipated,
es�mated or intended. The Company believes that the expecta�ons reflected in these forward-looking
statements are reasonable, but no assurance can be given that these expecta�ons will prove to be correct
and such forward-looking statements included herein should not be unduly relied upon. These statements
speak only as of the date hereof. The Company does not intend, and does not assume any obliga�on, to
update these forward-looking statements, except as required by applicable laws.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies
of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.