Element79 Gold Corp Receives Exploration Permit for Lucero Project from Chachas Community
Element79 Gold Corp Receives Exploration Permit for Lucero Project from Chachas
Community
Vancouver, BC, September 1 2, 2023 – Element79 Gold Corp (CSE:ELEM, FSE:7YS,
OTC:ELMGF), a mining company focused on gold and silver, is pleased to announce a
significant development in its mining exploration endeavors : The Community of Chachas,
Castilla Province, Arequipa Region, has approved the issuance of a permit to Minas Lucero
del Sur S.A.C., a wholly -owned subsidiary of Element79 Gold Corp, to conduct superficial
mining exploration activities, including geologica l mapping and selective sampling, for a
duration of four months, commencing from September 1, 2023, through December 31, 2023.
This decision was reached during the Local Assembly held on Sunday, September 3, 2023.
The resolution was endorsed by a majority of qualified community members present at the
assembly.
As part of the agreement reached during the assembly, Minas Lucero has undertaken to
contribute to the community's infrastructure development by providing 3,000 meters of 4 -
inch piping in two deliveries, for the channeling of La Jocha in Ticlla.
"We are grateful to the Community of Chachas for their trust and support. Element79 Gold
Corp is dedicated to conducting environmentally responsible and sustainable exploration
activities. We look forward to working closely with the community to ensure a m utually
beneficial partnership," said James Tworek, CEO of Element79 Gold Corp , “This first four
months of work is a critical step to our greater development plan leading up to restarting
production at Lucero, where we will be building out a data set throu gh sampling, mapping,
targeting trenching and drilling locations both above ground and underground . While
mapping will be across the whole property, trenching and drill site targeting will focus on
the Apacheta, Pillune and Sando Alcalde areas of the property, where the past production
came from and is therefore of highest interest. Looking to something new: we will also be
setting our sights on the Andrea area , where we intend to begin work on a previously
untouched vein system, alongside the Chachas community’s artisanal miners. These next
four months provide a great first step towards building out both our understanding of the
vein systems for subsequent phases of exploration, drilling and getting to bulk sampling and
PEA-level studies, as well as building with the community to grow together.”
Element79 Gold Corp is committed to fostering positive relationships with local
communities while adhering to the highest environmental and ethical standards in its
exploration activities.
Image 1 – Element79 Director and Qualified Person, Neil Pettigrew, on site at Lucero, Chachas District, Arequipa, Peru.
April 2022.
About Element79 Gold Corp
Element79 Gold is a mining company focused on gold and silver committed to maximizing
shareholder value through responsible mining practices and sustainable development of its
projects. Element79 Gold's main focus is on developing its previously-producing, high-grade
gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to bring it
back into production in the near term; The Company also holds a portfolio of 6 properties
along the Carlin and Battle Mountain trend s in Nevada, with the Clover and West Whistler
projects are believed to have significant potential for near-term resource development. The
Company has signed an option agreement to sell its Maverick Springs project, an advanced
stage exploratory property with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and
175MMoz Ag) and anticipates completing this sale before the end of 2023. The Company has
entered into a contract to sell three properties from the Battle Mountain Portfolio, with the
anticipation of closing this sale before the end of 2023. In British Columbia, Element79 Gold
has executed a Letter of Intent and funded a drilling program to acquire a private company
that holds the option to 100% interest of the Snowbird High -Grade Gold Project, which
consists of 10 mineral claims located in Central British Columbia, approximately 20km west
of Fort St. James. The Company also has an option to acquire a 100% interest in the Dale
Property, 90 unpatent ed 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 information about the Company, please visit www.element79.gold
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: [email protected]
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.613.879.9387
E-mail: [email protected]
Cautionary Note Regarding Forward Looking Statements
This press contains "forward looking information" and "forward-looking statements" under
applicable securities laws (collectively, "forward looking statements"). These statements
relate to future events or the Company's future performance, business prospec ts or
opportunities that are based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management made considering management's experience
and perception of historical trends, current conditions 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; exploration activities; the timing
and result of exploration activities; capital projects and exploration ac tivities and the
possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on
the Company. Assumptions may prove to be incorrect and actual results may differ
materially from those anticipated. Consequently , forward -looking statements cannot be
guaranteed. As such, investors are cautioned not to place undue reliance upon forward -
looking statements as there can be no assurance that the plans, assumptions or expectations
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 predictions, expectations, beliefs, plans, projections, objectives or future events or
performance (often, but not always, using words or phrases such as "seek", "anticipate",
"plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast",
"potential", "target", "intend", "could", "might", "should", "believe" and similar expr essions)
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, uncertainties and other factors that may cau se actual results to
materially differ from those expressed or implied by such forward -looking statements,
including but not limited to: the duration and effects of the coronavirus and COVID-19; risks
related to the integration of acquisitions; actual results of exploration activities; conclusions
of economic evaluations; changes in project parameters as plans continue to be refined;
commodity prices; variations in ore reserves, grade or recovery rates; actual performance of
plant, equipment or processes relative to specifications and expectations; accidents; labour
relations; relations with local communities; changes in national or local governments;
changes in applicable legislation or application ther eof; delays in obtaining approvals or
financing or in the completion of development or construction activities; exchange rate
fluctuations; requirements for additional capital; government regulation; environmental
risks; reclamation expenses; outcomes of p ending litigation; limitations 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 attempted to identify
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
anticipated, estimated or intended. The Company believes that the expectations reflected in
these forward-looking statements are reasonable, but no assurance can be given that these
expectations 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 obligation, to update these forward -
looking statements, except as required by applicable laws.