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RMEC Presentation on June 4, 11:00 a.m. ET - Sign up here
Lucero Exploration Program - Most recent channel sampling with 455 samples returned exceptionally high-grade results
Ongoing community relations work with Chachas Community updates on progress and timing for completion of social contract
VANCOUVER, BC – TheNewswire - May 30, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) ("Element79" , the "Company ") is pleased to announce it will be presenting at the virtual Resource Mining & Exploration Conference ("RMEC"), an event hosted by Sagacity Capital Media and Guerilla Capital, on Tuesday, June 4, 2024 at 11:00 a.m. ET.
Element79 CEO, James Tworek, will provide a summary of the Company's recent exploration program results, discuss the importance of community relations in advancing mining projects, and present upcoming catalysts for 2024 and beyond. RMEC, is a unique virtual investor conference series, offering an interactive experience for featured companies and investors. Companies will have 20 minutes to outline their investment opportunity before investors get the ability to engage in a real-time Q&A with management after the presentation. To register for RMEC, please click the link:
Click Image To View Full Size About RMEC
RMEC (Resource Mining & Exploration Conference) is a unique virtual investor conference. The goal is to expose new investors, as well as our global network of retail and institutional investors, to vetted Exploration & Mining opportunities. The number of companies is limited, and the content is curated with investor time and interest being paramount. While not exhaustive by design, the RMEC aims to present potential investments to new and seasoned resource investors by presenting highlights for further research.
Each participating company hosts a live presentation followed by a Q&A period within approximately a 40-minute slot. The goal is to help investors learn about the junior companies that are shaping the future of the Global Resource Sector within a responsive and pressure free environment.
RMEC will present up to six junior exploration and near-term producing companies, as they seek to discover the next world-class mines. Investors can get more details about RMEC at www.rmeconferences.com .
Lucero Exploration Program Summary and Update
Element79 is also pleased to provide a summary of its most recent channel sampling on the Company's flagship property, Lucero, Peru. A total of 455 samples, representing more than a metric ton of mineralization and wall rock, underwent comprehensive analysis, revealing significant exploration potential. Notably, 115 samples returned substantial values, with gold (Au) ranging from 1.0 g/t to 98.1 g/t, silver (Ag) ranging from 0.7 g/t to 3,026 g/t, lead (Pb) up to 2.0%, and zinc (Zn) up to 3.5%, showcasing the strong mineral potential of the Lucero project.
Among these, 17 samples exhibited gold values surpassing 10g/t, with 8 samples exceeding 20 g/t, and 51 samples boasting silver values exceeding 100 g/t Ag. Of particular significance are 15 high-grade samples with values ranging from 12.65g/t to an impressive 98.1g/t of Au , and remarkable silver values of 62.1 g/t to 3,026 g/t and up to 3.24% Zn , reaffirming the project's exceptional potential for high-grade mineralization.
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Figure 1. Lithology map with veins and samples over 1g/t Au within the project; Apacheta and Pillune areas. |
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Figure 2. Winter 2024 sample locations (red stars) and fall 2023 Sample locations (yellow stars) which were previously released ( see news release April 23, 2023 ) mapped workings (crosses), with selected samples highlighted (black 2024 and grey 2023). |
Table 1. Channel Sample gold grade statistics |
Table 2. Samples returning >5.0g/t gold from underground channel samplings |
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The latest assay data further positions Element79 for strategic advancement, successfully transforming exploration work into pivotal milestones and underscoring the tangible promise and potential of the Lucero project. Importantly, th e data will be the foundation for the Company's upcoming drill plans and resource estimation.
Ongoing Progress in Chachas Community
With its focus on growing its relationships with the communities it works in, the Element79 Gold Corp team along with its NGO partner UMA, continue to work monthly in the greater Chachas region, sharing, listening, educating and helping residents and leaders, working between the seven different hamlets that make up the greater community. As previously announced, with the incoming of the new Mayor at the start of 2024, the community itself works to complete updates to its own underlying Charter, a foundational process that is required before further contracts such as those for the Company's long-term surface rights access, and formalization agreements with Lomas Doradas (the local artisanal mining association) that the Company has provided, can be finalized. The Chachas community formally meets at the end of every month to work through its affairs. Current guidance from the community is that it anticipates the ratification of the community Charter to be complete no later than the end of July, 2024. Further updates will be provided as they are received on a biweekly basis.
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Director of Element79 Gold and a "qualified person" as defined by National Instrument 43-101.
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 focus is on devel oping its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production in 2024.
The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date in the first half of 2024.
The Company has an option to acquire a 100% interest in the Dale Property, 90 unpatented 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.
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: jt@element79gold.com
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
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 prospects 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 activities 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 expressions) 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 cause 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 thereof; 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 pending 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.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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