Northwire Canada EditionFriday, November 13, 2026
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Production / Operations

Element 29 clears DIA for drill permit at Elida

By The Northwire Desk — AI Analysis Jan 06, 2026 · 17:33 ECU · 1.20 Element 29 Resources Inc.
ECU · Price

Executive Summary

  • Element 29 Resources Inc. has received environmental certification (DIA) from Peru's MINEM, a critical milestone for its new drilling permit application (PIA) at the Elida porphyry Cu-Mo-Ag deposit.
  • The DIA allows for up to 40 drilling platforms and is valid for five years, significantly expanding the permitted footprint compared to the current FTA-based permit (20 platforms, expiring Q2 2026).
  • Current drilling operations are progressing well, with two rigs active and 4,600 meters completed toward a 7,000-meter target; assay results are pending.

Key Details

  • Environmental Certification: Received Declaracion de Impacto Ambiental (DIA) from Ministerio de Energia y Minas (MINEM).
  • Permit Scope: The new DIA covers up to 40 drilling platforms, valid for up to five years.
  • Current Permit Status: Existing PIA (approved under Ficha Tecnica Ambiental/FTA) allows 20 platforms and expires in Q2 2026.
  • Drilling Progress:
    • Two drill rigs currently operating.
    • Five drill holes completed.
    • Total drilled: >4,600 meters.
    • Planned program: 7,000 meters of diamond drilling.
    • Status: Assay results are pending.
  • Regulatory Milestones:
    • Executed a new five-year access agreement with the host community on April 30, 2025.
    • Completing a collective impacts report (Informe de Impactos Colectivos) for submission to the Ministerio de Cultura for the prior consultation (Consulta Previa) process.
  • Project Background (Elida):
    • Location: West-central Peru, 170 km NW of Lima, 75 km inland from Barranca.
    • Concessions: 32 contiguous concessions totaling 22,800 hectares (100% owned).
    • Geology: Eocene-age porphyry system with a 2.5 x 2.5 km hydrothermal alteration footprint.
    • Infrastructure: Access to Pan American Highway, power infrastructure (45 MW hydroelectric facility 15 km away), and skilled workforce.
  • Historical Drilling & Resources:
    • Total historical drilling: 40 holes, 23,223.55 meters.
    • 2022 Inferred Resource Estimate (based on 14,361.4 m of drilling):
      • 321.7 million tonnes.
      • 0.32% Cu, 0.029% Mo, 2.61 g/t Ag.
      • Cut-off: 0.2% Cu, 0.74:1 strip ratio.
    • Mineralization traced to depths >1,000 m and remains open.

Notable Quotes

  • "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 Peru, within a strong market environment for copper, molybdenum and silver." — Richard Osmond, President and CEO
  • "Drilling at Elida continues to progress well with two drill rigs currently operating and five drill holes completed totalling more than 4,600 metres of the planned 7,000-metre diamond drilling program; assay results are pending." — Richard Osmond, President and CEO
Read the original news release →

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Production / Operations