{kanada_flagge}Element 29 Resources (TSX-V: ECU; FRA: 2IK; OTCQB: EMTRF) has appointed Steve Stakiw as the company’s new president, chief executive officer and director. Richard Osmond, who served as interim CEO for a few months, is vacating the position but remains Chairman. The change at the top of the company is effective April 11, 2022.
Steve Stakiw is a seasoned executive and geologist with over 25 years of experience in the mining sector, particularly in capital markets. As Senior Vice President, he was most recently a key member of the New Pacific Metals Corp. team advancing a world-class silver deposit in South America, and was also involved in the successful financing and spin-off of its wholly owned subsidiary Whitehorse Gold Corp. as a public company. Prior to that, he was vice president of investor relations and part of the original team that grew Trevali Mining Corp. from an exploration-stage company through development to a mid-tier producer of base metals with four mines on three continents.
Commenting on his appointment, Stakiw said, “I look forward to joining Element 29 and working with the Board and the strong technical team to maximize the potential of the Company’s high-grade copper projects in Peru in the interest of all stakeholders. With 2022 shaping up as a year of significant milestones at both Elida and Flor de Cobre, I see good opportunities to enhance the Company’s market profile and valuation.”
In connection with the appointment, Steve Stakiw will receive 500,000 stock options pursuant to the Company’s incentive stock option plan. The incentive stock options are exercisable at a price of $0.59 per share for a period of five years.
Element 29 Resources expects to make significant progress on both of its advanced copper projects in Peru in 2022. The company is currently drilling at its flagship Flor de Cobre copper project where its goal is to validate the historical resource estimate of 57.4 MT of 0.67% copper and expand the resource at depth to then publish a NI 43-101 compliant resource estimate later in the year. At the Elida copper project, the company recenlty completed Phase I drilling, with all seven holes showing high grades of copper over long intervals of mineralization, allowing Element 29 to move forrward in publishing an initial resource estimate in 2022. Both projects shows tremendous opportunity to be a large-scale, high-grade copper deposits, are at low elevation, near infrastructure and have strong community support. So lots of news to come in 2022.
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