Element79 Gold Releases Assays That Support Lucero Economics & Drill Potential

Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) reported additional results from the most recent underground and surface sampling of its flagship Lucero property.

These geochemical assays of exploration samples continue to support the immense potential housed within Element 79’s crown jewel.

The data obtained is not just promising; it’s the cornerstone upon which our future endeavors will be built. These recent results coupled with historical data represent the bedrock upon which we are advancing our Lucero project.

-James Tworek, CEO

Among a total of 97 samples were sent for assays, 56 of which returned greater than 0.1 g/t gold (up to 8.55 g/t gold and 523 g/t silver) which are shown in Table 1.

Several samples also were also rich in base metals (up to 23.7% lead and 9.9% zinc), all of which underscores the richness of our project further supporting the Company’s belief a robust resource base can be delineated.

Figure 1. Fall 2023 Sample locations (yellow stars), mapped workings (crosses), with selected Samples highlighted.

All Samples were sent for To CERTIMIN S.A. Laboratories, Lima, Peru for analysis. Standards and duplicates were inserted every 10th samples.

Recent data from assay results is pivotal for Element 79. Firstly, it will serve as the foundation for the Company’s resource development and future mine planning.  These reports are both essential steps the mine evaluation process and highlights crucial milestones in demonstrating the project’s viability.

Secondly, this data will inform the direction of the Company’s upcoming 2024 drill program, which will be guided by a 3D modelling of both geology and historic mine workings, designed to maximize efficiency and accuracy. The 3D model will harness the comprehensive dataset that has been amassed, including historic data compilation from the past-producing era leading up to 2005, current surface and underground geochemistry, review and channel sampling of underground workings, mapping (both underground and surface), geophysical surveys, as well as cross-sectional and longitudinal interpretations.

This data helps to prove from a methodical and unbiased perspective where both the ore “is” as much as where the ore “isn’t”.  When modelled in conjunction with past sampling data and historical production data, this proves that the current underground addits and open veins as well as their surface level expressions are strong economically, where future exploration and drilling campaigns will highlight where we will focus for ore extraction.

-James Tworek, CEO

As the Element79 team moves forward, its confidence is both in the skill and experience of its team as well as the continued positive results its work programs have yielded. The Company’s mission is to maximize shareholder value through continued development of the Lucero project, by bringing it back into commercial production, in a safe, ethical, sustainable and profitable fashion.

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.

Element79 is a Marketing Awareness Client of Capital 10X.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Duane Hope is a Partner at Capital 10X, he brings over 15 years of communications and research experience to the firm. His research and writing have appeared in publications for North American, European and Asian audiences.

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