Element 29 Continues to Drill Long Mineralized Intercepts to Potentially Expand Mineral Resources1 at Its Elida Porphyry Cu-Mo-Ag Deposit, Peru
Element 29 continues to deliver massive intercepts at Elida, but the market awaits a resource update to validate the "Game Changer" narrative.
The most recent news (April 1, 2026) reports significant drilling results from hole ELID041 at the Elida Porphyry Cu-Mo-Ag deposit in Peru. The hole returned a massive 903.7m interval grading 0.38% CuEq, including higher-grade sub-intervals of 707.7m at 0.41% CuEq and 495.2m at 0.46% CuEq. Crucially, mineralization was found to extend more than 400m beyond the current pit-constrained mineral resource estimate (MRE). This follows a string of positive news including the receipt of DIA environmental certifications for both the Paka and Elida projects (Jan/Feb 2026) and a record-breaking intercept in January 2026 (1,489m of 0.58% CuEq).
The news is Routine - Positive. While the intercepts are objectively massive and demonstrate the scale of the porphyry system, they are incremental to the 2025-2026 drill program's established trend. - Resource Expansion: The 400m step-out beyond the existing MRE shell is a material physical expansion of the mineralized body, supporting the company's goal of a significant resource upgrade in late 2026. - Grade Consistency: The grades (0.38% - 0.46% CuEq) are consistent with or slightly above the current Inferred Resource grade (0.32% Cu), suggesting that the upcoming MRE may see an improvement in both tonnage and grade. - Permitting De-risking: The transition from FTA to DIA/PIA permits allows for a doubling of drill platforms (from 20 to 40), which is essential for the planned 5,000m follow-up program in H1 2026. - Comparison to Projections: The company is successfully executing the 7,000m program announced in late 2025. The "Game Changer" status is withheld until these long intercepts are converted into a Measured and Indicated resource category or a Preliminary Economic Assessment (PEA) is released.
Element 29 is a Peru-focused copper explorer. Its flagship is the Elida Porphyry Cu-Mo-Ag Deposit in central Peru (low elevation, near infrastructure). - Current Resource: 321.7 Mt @ 0.32% Cu, 0.03% Mo, 2.61 g/t Ag (Inferred). - Flagship Status: The project is characterized by a very low strip ratio (0.74:1) and massive vertical continuity (mineralization confirmed to >1,400m depth). - Secondary Projects: Flor de Cobre (Arequipa) and Paka (Porphyry-skarn).