Northwire Canada EditionSaturday, November 7, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Production / Operations

Element 29 Engages Synectiq to Advance Resource Modelling and Metallurgical Test Work at its Elida Porphyry Cu-Mo-Ag Deposit, Peru

Element 29 Advances Elida Resource Modelling Following Major Financing and Drill Extension

By The Northwire Desk — AI Analysis May 07, 2026 · 07:31 ECU · 1.28 Element 29 Resources Inc.
Executive Summary
  • Element 29 Resources has engaged Synectiq Inc. to perform mineral resource modelling and manage a metallurgical test work program for the Elida Porphyry Copper-Molybdenum-Silver Deposit in Peru.
  • Recent Phase 3 drilling at Elida has successfully extended copper mineralization beyond the limits of the current pit shell.
  • The company targets completing an updated Mineral Resource Estimate (MRE) by year-end, incorporating recent drilling data.
  • Synectiq's scope includes representative sample selection, comminution testing, mineralogical characterization, and flotation investigations.
  • The initial pit-constrained inferred MRE (late 2022) consists of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo, and 2.61 g/t Ag at a 0.2% Cu cutoff grade.
  • The program aims to refine the geological model and integrate Phase 3 drilling results into an updated resource model.
Material Impact
  • Incremental Progress: This announcement confirms the execution of the $35.47 million private placement closed in April 2026, specifically funding exploration activities at Elida.
  • Validation of Drilling: The news reiterates that Phase 3 drilling extended mineralization beyond the current pit shell, a fact previously highlighted in the April 1, 2026 drill results release (Hole ELID041).
  • Operational Step: Engaging Synectiq is a standard operational step required to process drilling data for an updated MRE; it does not represent a new discovery or financial event.
  • Market Expectation: Given the substantial financing in April and strong drill results in January/April, this progression toward an updated resource estimate was anticipated by the market.
  • No New Catalysts: There are no new strategic investors announced (Alpayana SAC joined in April), nor any M&A activity or takeover rumors.
ECU · Price
Company Overview
  • Company Name: Element 29 Resources Inc.
  • Flagship Project: Elida Porphyry Cu-Mo-Ag Deposit, Peru.
  • Project Status: Exploration / Development (Inferred Mineral Resource Estimate).
  • Jurisdiction: Southern Peru (approx. 1,600 m elevation), world-class mining jurisdiction with infrastructure access.
  • Resource Context: Existing pit-constrained inferred resource is 321.7 Mt @ 0.32% Cu, 0.029% Mo, 2.61 g/t Ag (0.2% Cu cut-off).
  • Other Assets: Flor de Cobre Project, Paka Project, Pahuay Project (all in exploration stages).
  • Management: Richard Osmond (President & CEO), Michael Au (CFO), Brad Mercer (Chair).
Read the original news release →

More from Element 29 Resources Inc.

Oct 13, 2026 · 07:31

Element 29 mobilized a third rig at its Elida project in Peru to target a 10,000-metre drill program.

Drill Results Aug 10, 2026 · 17:01

Element 29 raised $12m at $1.65 to fund a drilling campaign at its peru copper exploration project.

Financings Jul 31, 2026 · 07:20

Element 29’s fully committed $12m placement at $1.65 fuels copper exploration at its Peruvian projects.

Financings Jul 28, 2026 · 07:21

Element 29’s upgraded drill permit unlocks expanded exploration at its Elida project in Peru.

Production / Operations Jul 23, 2026 · 08:30

Element 29’s Elida project recorded another 1,500+ metre intercept, confirming the deposit’s extensive scale and size.

Drill Results Jul 03, 2026 · 07:31

Element 29 renews its investor relations and market maker services as Elida drilling advances toward a 2026 mineral resource estimate.

Production / Operations