Immense Potential
Element79 Gold (CSE ELEM / FSE 7YS0) has received another extensive data set from underground samples taken at the Lucero gold and silver project. According to the Canadian explorer, these geochemical assay results also support the “immense” potential of Element79’s flagship project.
According to CEO James Tworek, this data is not only promising, but also the foundation on which future activities will be built – especially in conjunction with existing historical data.
Of the 97 samples now returned from the lab, Element79 Gold reports that 56 had more than 0.1 grams of gold per tonne. The highest value was 8.55 g/t gold and 523 g/t silver. Interestingly, some samples also showed high concentrations of industrial metals – up to 23.7% lead and 9.9% zinc. This, according to the company, underlines the numerous mineral occurrences at Lucero and supports the company’s view that a robust resource base can be demonstrated there.
Crucial wealth of data for drilling and development
These and the results reported by Lucero in recent weeks and months are of critical importance to Element79 as they will serve as the basis for the company’s resource development and future mine planning. These in turn represent important steps in the mine evaluation process and are milestones in demonstrating the economic viability of the project.
In addition, Element79 will use the data to align the drilling program planned for 2024 as promisingly as possible. The aim is to use 3D modeling of the geology as well as the historical mining areas in order to achieve maximum efficiency and accuracy. The 3D model will incorporate the comprehensive and historical data obtained by Element79 from the production period up to 2005 as well as current results from underground and surface geochemical investigations, the evaluation and extraction of channel samples of underground areas of Lucero, mapping, geophysical surveys and crosssectional and longitudinal interpretations.
This, continues CEO Tworek, will provide a methodical and unbiased perspective from which to show where ore is located as well as where it is not. “Combined with the data from previous sampling and historical production, this proves that the current underground workings and open veins and their surface expressions are economically strong, with future exploration and drilling campaigns showing where we will focus our ore extraction efforts,” the Element79 CEO continued.
We are looking forward to the 3D modeling and, above all, to the upcoming drilling program and will definitely continue to follow this exciting company.
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