ELMGF - Element79 Gold Corp Engages Peruvian Technical Services Provider for Development at Lucero
(TheNewswire)
Vancouver,BC – TheNewswire –March 15 th , 2023 - Element79 Gold Corp (CSE:ELEM) (OTC:ELMGF)(FSE:7YS) ("Element79 Gold", the"Company" ) is pleased to announce itsengagement of has entered service engagementsSLM Mining Services (“ SLM ”), a technical mining service providerwith extensive experience working in Peru and the Andean Region, forthe work plan building up to commencing ore extraction operations atthe Lucero High Grade Previously-Producing Gold-Silver Mine, SLM willwork in conjunction with the Company’s operations team. Theduration of the contract with SLM is 3 years.
Overview of SLM MiningServices
SLM provides a wide range of management and developmentservices for mining projects. SLM Mining Services is committed todeveloping and managing mining projects from its early stages,covering activities such as target identification, geologicalexploration, economic valuation, integral management, surface landagreements with local owners, and dealing with regulatory permitspertaining to mining activities, among others. All activitiesperformed by SLM are under the highest industry standards to createvalue for mining projects by integrating local stakeholders,protecting the environment and building strong relationships at alllevels. SLM team has many years’ experience working on thediscovery, development and operations of multiple mining projectsthroughout the Andean region.
Overview of the Engagement
The Management Services Agreements include that SLMwill appoint a general manager for the Lucero project, provide anoffice in Lima, Peru for administrative and address for domestic taxpurposes and back-office services such as project logistics,procurement and day to day operations. The Agreements also includesite visits and exploration work at the Lucero site over the coming 6months and Community Relations Services, ensuring one senior memberthat will be assigned to maintain good relations with the localstakeholders in the Chachas district in the region surrounding theLucero Project and to conduct all the works needed to obtain sociallicense permitting for operations to commence.
James Tworek, Element79 Gold’s CEO comments: “SLMis a key piece in the plan to bring Lucero back into production. SLM’s past and upcoming boots-on-the- ground work at Lucero and community relations with the local Chachas group alongwith our in-house Operations team will greatly assist in advancing theproject toward cash flow generation. We will release our developmentplans shortly as well as the results of these programs as theyprogress.”
About Element79 Gold
Element79 Gold is a mining company focused on gold,silver and associated metals. Element79 Gold’s main focus is on twocore properties: developing its previously-producing, high-grade goldand silver mine, the Lucero project located in Arequipa, Peru, withthe intent to bring it back into production in the near term; and itsflagship Maverick Springs Project located in the famous gold miningdistrict of northeastern Nevada, USA, between the Elko and White PineCounties. Maverick Springs hosts a 43-101-compliant, pit-constrainedmineral resource estimate reflecting an inferred resource of 3.71million ounces of gold equivalent “AuEq” at a grade of 0.92 g/tAuEq (0.34 g/t Au and 43.4 g/t Ag) with an effective date of Oct. 19,2022 (see news release October 20, 2022, available on SEDAR). Theacquisition of the Maverick Springs Project also included a portfolioof 15 properties along the Battle Mountain trend in Nevada, which arenon-core to its primary business focus. InBritish Columbia, Element79 Gold has executed a Letter of Intent andfunded a drilling program pursuant to acquire a private company whichholds the option to 100% interest of the Snowbird High-Grade GoldProject, which consists of 10 mineral claims located in CentralBritish Columbia, approximately 20km west of Fort St. James. TheCompany also has an option to acquire 100% interest in the DaleProperty, 90 unpatented mining claims located approximately 100 kmsouthwest of Timmins, Ontario, Canada in the Timmins Mining Division,Dale Township. The Company is analyzing the non-core Nevada projects,The Dale Property and Snowbird Property for further merit ofexploration, sale or spin-out. For more information about theCompany, please visit www.element79.gold
For corporate matters, pleasecontact:
James C. Tworek, Chief Executive Officer
Email: jt@element79gold.com
For investor relations inquiries,please contact:
Investor Relations Department
Phone: +1 (604) 200-3608
Email: investors@element79gold.com
The CSE has not reviewed and does not acceptresponsibility for the adequacy or accuracy of this release.
Certain information contained hereinmay constitute “forward-looking information” under Canadiansecurities legislation. Generally, forward-looking information can beidentified by the use of forward-looking terminology such as“expects”, “anticipates”, “will be”, “intends” orvariations of such words and phrases or statements that certainactions, events, or results “will” occur. Forward-lookingstatements regarding the Company and its business and strategies arebased on the Company’s estimates and are subject to known andunknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of theCompany and its subsidiaries to be materially different from thoseexpressed or implied by such forward-looking statements orforward-looking information, including capital expenditures and othercosts. There can be no assurance that such statements will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers shouldnot place undue reliance on forward-looking statements andforward-looking information. The Company will not update anyforward-looking statements or forward-looking information that areincorporated by reference herein, except as required by applicablesecurities laws
Copyright (c) 2023 TheNewswire - All rights reserved.