Element 29 Receives DIA Environmental Certification Advancing New Drilling Permit Application at Elida Porphyry Cu-Mo-Ag Deposit, Peru
Element 29 expands Elida permits while pending assays determine if the deposit can achieve a tier-1 valuation.
The news release dated January 6, 2026, confirms that Element 29 has received the DIA (Environmental Certification) from the Peruvian Ministry of Energy and Mines (MINEM) for the Elida Copper project. This is a critical regulatory milestone required to apply for an expanded Drilling Permit (PIA). The new DIA allows for up to 40 drilling platforms (double the current 20) and is valid for 5 years. Additionally, the company secured a new 5-year Surface Access Agreement with the local community, extending through April 2030. Operationally, the company reports that 5 holes (4,600 metres) of its 7,000-metre diamond drilling program are complete, with two rigs active and assays currently pending.
This news is materially positive for several reasons: - Permit De-risking: Receiving the DIA clears the most significant environmental hurdle for expanding exploration beyond the current pit shell. This allows the company to test the large MT geophysical anomalies identified in mid-2025. - Social License: Renewing the community access agreement for 5 years provides the long-term stability necessary for advanced exploration and potential feasibility studies. This is often a major failure point for projects in Peru. - Operational Continuity: While current drilling is under the old permit (valid to Q2 2026), having the new DIA in place ensures no gap in drilling activity as they transition to the expanded footprint. - Pending Results: The 4,600 metres of completed drilling represent a significant volume of core. While the permitting news is positive, the market valuation is now heavily dependent on the assay results of these holes, which aim to confirm the high-grade deep core suggested by hole ELID033 (1,039m of 0.54% CuEq).
Element 29 is a Canadian explorer focused on copper in Peru. Its flagship project is Elida, a large-scale porphyry copper-molybdenum-silver deposit. - Elida Status: Currently holds an Inferred Mineral Resource of 321.7 million tonnes at 0.32% Cu, 0.029% Mo, and 2.61 g/t Ag. - Strategy: The company is using deep-sensing MT geophysics to locate a potential high-grade "core" of the system that could transition the project from a low-grade bulk tonnage play to a Tier-1 asset. - Secondary Project: Flor de Cobre, a past-producing copper project in the Southern Peru Copper Belt.