As discussed in a recent report, Element 29 Resources (ECU.V) had commissioned a MagnetoTelluric geophysical survey on its Elida flagship project. The survey focused on a 5,000 by 6,000 meter surface area where 122 stations collected data to map the 3D resistivity model to depths exceeding 3,000 meters.
This resistivity model outlined a 1,000 meter long east-west trending high-resistivity anomaly running through the centre of the Elida deposit and this large anomaly coincides nicely with the Elida porphyry intrusive complex. Based on the classic signature, the company’s technical team has now highlighted six MT anomalies which are nicely summarized in the bullet points below.
Based on the additional data, Element 29 Resources will now refine the drill targets for its Phase III drill program to make it as efficient as possible to grow the current 322 million tonne resource (which already hosts in excess of 2.2 billion pounds of copper).
Disclosure: The author has a long position in Element 29. The company is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
