Element 29 Receives DIA Environmental Certification Advancing New Drilling Permit Application at Elida Porphyry Cu-Mo-Ag Deposit, Perú
Element 29 Receives DIA Environmental
Certification Advancing New Drilling Permit
Application at Elida Porphyry Cu-Mo-Ag
Deposit, Perú
Vancouver, British Columbia--(Newsfile Corp. - January 6, 2026) -
Element 29 Resources Inc. (TSXV:
ECU) (OTCQB: EMTRF) (BVL: ECU)
("
Element 29
" or the "
Company
") is pleased to announce that
it has received environmental certification under a Declaración de Impacto Ambiental ("
DIA
") from the
Perúvian Ministerio de Energía y Minas ("
MINEM
"), marking a significant milestone in the Company's
application for a new Programa de Inicio de Actividades ("
PIA
") drilling permit at its Elida Porphyry
Copper ("
Cu
") - Molybdenum ("
Mo
") - Silver ("
Ag
") Deposit ("
Elida
") in central Perú.
Richard Osmond, President and CEO of Element 29, commented: "Completion of the DIA represents an
important step toward securing a new PIA that would significantly expand the current permitted drilling
footprint and support continued advancement of the Company's flagship Elida project in Perú, within a
strong market environment for copper, molybdenum, and silver."
Mr. Osmond continues, "Drilling at Elida continues to progress well with two drill rigs currently operating
and five drill holes completed totaling more than 4,600 metres of the planned 7,000-metre diamond
drilling program; assay results are pending. Current drilling is being conducted under the existing PIA
drilling permit, which remains valid through Q2 2026."
Element 29's current PIA drilling permit was approved under a Ficha Técnica Ambiental ("
FTA
")
environmental certification, authorizing up to 20 drilling platforms, and is scheduled to expire in Q2 2026.
The newly approved DIA, which is valid for a period of up to five years, provides a comprehensive review
of potential environmental impacts associated with exploration activities and outlines appropriate
mitigation measures for up to 40 drilling platforms. This approval represents an important advancement
toward securing a replacement PIA, which would allow the Company to continue exploration beyond the
current pit-constrained Mineral Resource Estimate
1
and further evaluate the larger hydrothermal
alteration footprint of the Elida porphyry Cu-Mo-Ag system.
As part of the requirements for the new PIA drilling permit application, the Company also executed a new
five-year Access Agreement with the host community on April 30, 2025 (refer to
June 4, 2025
news
release) and is in the process of completing a Collective Impacts Report (Informe de Impactos
Colectivos) for submission to the Ministerio de Cultura as part of the Prior Consultation (Consulta
Previa) process.
The receipt of the DIA environmental certification, together with the execution of the Access Agreement,
represents key milestones for Elida, as they satisfy critical requirements of the new PIA drilling permit
application.
About Elida Porphyry Cu-Mo-Ag Deposit
The Elida porphyry Cu-Mo-Ag deposit occurs along the east side of a large block of 32 contiguous
concessions totaling 22,800 hectares ("
ha
") that are 100% owned by Element 29 Resources Inc. The
project is in west-central Perú and is road accessible from the capital city, Lima, along the Pan
American Highway, 170 kilometres ("
km
") northwest to the coastal city of Barranca, then inland 75 km
along a secondary road with paved and unpaved surfaces.
Elida is well located for future mine development and will benefit from nearby infrastructure and a skilled
workforce. The project is situated at a moderate elevation between 1,500 m and 2,000 m with access to
transportation routes to coastal shipping ports and power infrastructure, including a 45 mega-watt
hydroelectric generation facility situated just 15 km from the Property.
The Elida porphyry complex is a Cu-Mo-Ag mineralized multiphase porphyry system with a 2.5 x 2.5 km
hydrothermal alteration footprint at surface, associated with Eocene-aged quartz monzonite stocks,
emplaced into the Cretaceous volcano-sedimentary sequence and a granodiorite member of the
Peruvian Coastal Batholith. Elida is one of the first Eocene-age mineralized porphyry systems
discovered in Perú.
Previous drilling by Element 29 intersected multiple, long intervals of porphyry Cu-Mo-Ag mineralization
which has been traced to a depth of greater than 1000 m where it remains open. Most of the Cu-Mo
mineralization is carried in A-veins, B-veins and C-veins that were formed during the waning stages of
potassic alteration, with a significant secondary amount of Cu mineralization carried in retrograde
alteration from a later chlorite-epidote overprint.
The Company has completed 40 drill holes for a total of 23,223.55 metres ("
m
") of diamond drilling at
Elida. Based on just 14,361.4 m of drilling, Element 29 completed an independent pit-constrained
Inferred Mineral Resource Estimate in late 2022, which outlined 321.7 million tonnes of 0.32% Cu,
0.029% Mo and 2.61 g/t Ag at a 0.2% Cu cut-off grade and a 0.74:1 strip ratio.
Information on the Mineral Resource Estimate is in the technical report, available on the Company's
website
and on
SEDAR+
, titled "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida
Porphyry Copper Project in Perú" with an effective date of September 20, 2022 and prepared in
accordance with Form 43-101F1 by Marc Jutras, PEng MASc, Principal, Mineral Resources, Ginto
Consulting Inc., a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for
Mineral Projects, who is independent of Element 29 Resources Inc.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Richard
Osmond (P.Geo.), Element 29's President and CEO, who is the "
Qualified Person
" as defined by
National Instrument 43-101 Standards for Disclosure for Mineral Projects.
About Element 29 Resources Inc.
Element 29 is an emerging junior resource company with a highly experienced management team and
board focused on exploring and potentially developing copper deposits in Perú, one of the lowest-cost,
lowest-risk mining jurisdictions globally.
The Company's principal objective is to explore and significantly expand its Elida Porphyry Cu-Mo-Ag
Deposit in west-central Perú. Alongside Elida, the Company has three early stage, highly prospective
porphyry Cu projects in Perú for more than 25,000 ha of titled concession. These include the Flor de
Cobre porphyry Cu-Mo prospect situated in the Southern Perú Copper Belt, just 26 km from the Cerro
Verde copper mine (Freeport-Buenaventura)
2
as well as the Paka and Pahuay porphyry Cu skarn
prospects related to potential tertiary-aged, mineralized porphyry complexes intruding along the eastern
margin of the Peruvian Coastal Batholith.
All projects are well located for future mine development and will benefit from nearby infrastructure
including roads, powerlines, ports, water, and a skilled workforce.
More information is available at
www.e29copper.com
.
For more information:
Richard Osmond, P.Geo.
CEO and Director
1-888-246-7881
Notes:
1
.
The Mineral Resource Estimate information is available in "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida
Porphyry Copper Project in Perú" dated September 20, 2022, and prepared in accordance with Form 43-101F1 by Marc Jutras, P.Eng.,
M.A.Sc., Ginto Consulting Inc.
2
.
This news release contains information about adjacent properties on which Element 29 has no right to explore or mine. Readers are
cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Neither the TSX Venture Exchange (the "
TSX-V
") nor its Regulation Service Provider (as that term is
defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this press
release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking information and forward-looking statements within
the meaning of applicable Canadian securities legislation (collectively, "
Forward-looking
Statements
"). Any statements that are contained in this press release that are not statements of
historical fact may be deemed to be Forward-looking Statements. Forward-looking Statements are
frequently, but not always, identified by words such as "may", "will", "intends", "proposed", "believes",
"continues", "plans", "expects" or similar expressions (or the negative and grammatical variations of
any of these terms). Forward-looking Statements in this press release include, but are not limited to,
statements with respect to: the Company's resource properties and future capital requirements; and
the Company's plans, focus and objectives.
Forward-looking Statements involve various risks and uncertainties and are based on certain factors
and assumptions. Although Element 29's management considers these beliefs and assumptions
reasonable based on currently available information, there can be no assurance that such statements
will prove to be accurate, and actual results and future events could differ materially from those
anticipated in such statements. Forward-looking Statements necessarily involve known and unknown
risks, and important factors, among others, that could cause actual results to differ materially from the
Company's expectations include:; fluctuations in copper and other commodity prices; uncertainties
inherent in the exploration of mineral properties; risks associated with general economic conditions;
changes in legislation, income tax and regulatory matters; currency and interest rate fluctuations;
inability to access sufficient capital from internal and external sources; and other risk factors set forth
in the Company's prospectus under the heading "Risk Factors".
Readers are further cautioned not to place undue reliance on Forward-looking Statements as there
can be no assurances that the plans, intentions or expectations upon which they are placed will occur.
The Company undertakes no obligation to update or revise any Forward-looking Statements, whether
as a result of new information, future events or otherwise, except as may be required by law. New
factors emerge from time to time, and it is not possible for Element 29 to predict all of them or assess
the impact of each such factor or the extent to which any factor, or combination of factors, may cause
results to differ materially from those contained in any Forward-looking Statement. Any Forward-
looking Statements contained in this press release are expressly qualified in their entirety by this
cautionary statement.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/279520