Element79 Gold To Provide
Summary and Update on Active Exploration Program, Community
Relations at RMEC on June 4
- 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, Canada -- May 30, 2024 -- InvestorsHub
NewsWire -- 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:
RMEC SIGN
UP
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).
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Table 1. Channel Sample gold grade
statistics
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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, the 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 developing 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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