Element79 unveils compelling assay results from its Lucero property, showcasing significant gold and silver grades alongside high concentrations of base metals.
The data from these assays not only lays the groundwork for resource development but also guides the Company’s 2024 drill program, utilizing comprehensive 3D modeling for precision and efficiency.
Through strategic meetings with artisanal miners and swift responses to community needs like the Chachas landslide, Element79 underscores its commitment to responsible mining practices and meaningful community integration.
Element79 (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0), a prominent player in the mining industry, is redefining the gold and silver market with its robust portfolio and innovative strategies. With its focus primarily on gold and silver, Element79 stands as a beacon in the mining industry, committed to delivering impressive results while adhering to the highest environmental and social standards. This article sheds light on Element79’s journey, its flagship projects, recent developments, and future prospects.
About Element79
Element79 (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0), a leading figure in the mining industry, has established itself as a pioneer in responsible mining practices. Its commitment to sustainable development and strategic acquisitions highlight Element79’s dedication to maximizing shareholder value. The company’s impressive portfolio features two flagship projects, the Lucero Property in Peru and the Maverick Springs Project in Nevada, both of which exhibit significant potential for high-grade operations.
Lucero Property: The Goldmine in Peru
Nestled in Arequipa, Peru, the Lucero Property is a high-grade gold and silver mine that stands as one of Element79’s flagship projects. With a rich history and immense potential for future development, Lucero is a testament to Element79’s commitment to mining excellence.
Historically, the Lucero mine boasted impressive grades, with an average of 19.0g/t Au Equivalent (Au Eq) during its five years of production ending in 2005. Recent assays from underground workings in March 2023 have further validated the potential for a significant high-grade future operation. These assays yielded up to 11.7 ounces per ton of gold and 247 ounces per ton of silver, indicating a promising future for high-grade operations.
Additional Assay Results
Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) unveils additional findings from its recent underground and surface sampling efforts at the Lucero property, the cornerstone of its endeavors.
James Tworek, CEO of Element79, underscores the significance of these results: “This data isn’t just promising; it’s pivotal. It forms the bedrock upon which we build our future at Lucero.”
Out of 97 samples analyzed, 56 returned notable gold grades, with peaks at 8.55 g/t gold and 523 g/t silver, as shown in Table 1. Additionally, high concentrations of base metals were detected, affirming the project’s richness and reinforcing the Company’s confidence in its resource potential.
These assay results serve dual purposes for Element79. Firstly, they lay the groundwork for resource development and future mine planning, marking essential milestones in the project’s evaluation process.
Secondly, this data will steer the Company’s 2024 drill program, informed by comprehensive 3D modeling of geology and historic mine workings. This approach aims for precision and efficiency, utilizing a wealth of data including historical records dating back to 2005, current geochemistry data, underground mapping, and geophysical surveys.
Tworek emphasizes the significance of this data in guiding future exploration efforts: “It delineates areas of economic strength and directs our focus for ore extraction, leveraging both past data and current findings.”
Maverick Springs Project: A Silver Lining in Nevada
Another gem in Element79’s portfolio is the Maverick Springs Project, located in the renowned gold mining district of northeastern Nevada, USA. With its proximity to the prolific Carlin Trend, Maverick Springs presents an exciting opportunity for Element79. The project is a silver-rich sediment/carbonate-hosted deposit, similar to the renowned silver-rich epithermal deposits found in Nevada.
Elevating Community Relations
In its ongoing commitment to community engagement, Element79 (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) orchestrated a strategic meeting with artisanal miners from Lomas Doradas. The goal? To cultivate collaborative ties, ensuring mutual support as the Company embarks on exploration efforts on surface land. Seeking exclusive agreements, Element79 aims for a unified approach to mineral extraction and sales, benefitting both parties.
In a bid to solidify this partnership, Element79 proposed draft contracts. These agreements outline a decade-long surface access arrangement for exploration at the Lucero mine site, reciprocated by granting local miners access to defined locations for their operations. Additionally, Element79 pledges to facilitate optimal market pricing for Lomas Doradas’ ore, ensuring a steady revenue stream for both sides.
In March, Element79’s swift response to a landslide in Chachas exemplified its dedication to community assistance. The team provided vital support, aiding in the transfer of stranded community members until roads were cleared.
Embracing local traditions, Element79’s (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) community relations team joined in a traditional Water Ceremony alongside local authorities and leaders. This culturally rich event, steeped in Chachas tradition, underscores the Company’s commitment to meaningful engagement and integration.
Throughout the year, Element79’s engagement in social awareness remains steadfast. Site visits and consultations with annex leaders bolster community support for ongoing exploration efforts. The Company advocates for a progressive approach, aligning with sustainable development goals and community interests.
Conclusion
Element79’s (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) commitment to responsible mining practices, coupled with its robust portfolio, positions it as a leader in the mining industry. The company’s dedication to sustainable development, strategic acquisitions, and community relations exemplify its commitment to maximizing shareholder value.
As Element79 continues its exploration and development efforts, it remains steadfast in its commitment to responsible and sustainable mining practices. By leveraging its expertise and strategic acquisitions, Element79 is well-positioned to deliver value to its shareholders while contributing to the responsible development of the mining industry.
