ELMGF - Element79 Gold Corp Receives Exploration Permit for Lucero Project from Chachas Community
(TheNewswire)
Vancouver, BC – TheNewswire- September12, 2023 – Element79 Gold Corp (CSE:ELEM ) ( FSE:7YS ) ( OTC:ELMGF) , a mining companyfocused on gold and silver, is pleased to announce a significantdevelopment in its mining exploration endeavors: The Community ofChachas, Castilla Province, Arequipa Region, has approved the issuanceof a permit to Minas Lucero del Sur S.A.C., a wholly-owned subsidiaryof Element79 Gold Corp, to conduct superficial mining explorationactivities, including geological mapping and selective sampling, for aduration of four months, commencing from September 1, 2023, throughDecember 31, 2023.
This decisionwas reached during the Local Assembly held on Sunday, September 3,2023. The resolution was endorsed by a majority of qualified communitymembers present at the assembly.
As part of theagreement reached during the assembly, Minas Lucero has undertaken tocontribute to the community's infrastructure development by providing3,000 meters of 4-inch piping in two deliveries, for the channeling ofLa Jocha in Ticlla.
"We aregrateful to the Community of Chachas for their trust and support.Element79 Gold Corp is dedicated to conducting environmentallyresponsible and sustainable exploration activities. We look forward toworking closely with the community to ensure a mutually beneficialpartnership," said James Tworek, CEO of Element79 Gold Corp,“This first four months of work is a critical step to our greaterdevelopment plan leading up to restarting production at Lucero, wherewe will be building out a data set through sampling, mapping,targeting trenching and drilling locations both above ground andunderground. While mapping will be across the whole property,trenching and drill site targeting will focus on the Apacheta, Pilluneand Sando Alcalde areas of the property, where the past productioncame from and is therefore of highest interest. Looking to somethingnew : wewill also be setting our sights on the Andrea area, where we intend tobegin work on a previously untouched vein system, alongside theChachas community’s artisanal miners. These next four monthsprovide a great first step towards building out both our understandingof the vein systems for subsequent phases of exploration, drilling andgetting to bulk sampling and PEA-level studies, as well as buildingwith the community to grow together.”
Element79 GoldCorp is committed to fostering positive relationships with localcommunities while adhering to the highest environmental and ethicalstandards in its exploration activities.
Image 1 –Element79 Director and Qualified Person, Neil Pettigrew, on site atLucero, Chachas District, Arequipa, Peru.
April2022.
About Element79 Gold Corp
Element79 Goldis a mining company focused on gold and silver committed to maximizingshareholder value through responsible mining practices and sustainabledevelopment of its projects. Element79 Gold's main focus is ondeveloping its previously-producing, high-grade gold and silver mine,the Lucero project located in Arequipa, Peru, with the intent to bringit back into production in the near term; The Company also holds aportfolio of 14 properties along the Carlin and Battle Mountain trendin Nevada, with the Clover and West Whistler projects are believed tohave significant potential for near-term resource development. TheCompany has signed an option agreement to sell its Maverick Springsproject, an advanced stage exploratory property with an InferredResource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) and anticipatescompleting this sale before the end of 2023. The Company continues tonegotiate the sale of its non-core Nevada and Battle Mountainprojects. In British Columbia, Element79 Gold has executed a Letter ofIntent and funded a drilling program to acquire a private company thatholds 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 a 100% interest in the DaleProperty, 90 unpatented mining claims located approximately 100 kmsouthwest of Timmins, Ontario, and has recently announced that it hastransferred this project to its wholly-owned subsidiary, SynergyMetals Corp, and is advancing through the Plan of Arrangement spin-outprocess through the rest of 2023. For more information about theCompany, please visit www.element79.gold
ContactInformation
For corporatematters, please contact:
James C. Tworek,Chief Executive Officer
E-mail: jt@element79gold.com
For investorrelations inquiries, please contact:
Investor RelationsDepartment
Phone:+1.613.879.9387
E-mail: investors@element79.gold
Cautionary NoteRegarding Forward Looking Statements
This presscontains "forward looking information" and"forward-looking statements" under applicable securitieslaws (collectively, "forward looking statements"). Thesestatements relate to future events or the Company's futureperformance, business prospects or opportunities that are based onforecasts of future results, estimates of amounts not yet determinableand assumptions of management made considering management's experienceand perception of historical trends, current conditions and expectedfuture developments. Forward-looking statements include, but are notlimited to, statements with respect to: the Company's business strategy; futureplanning processes; exploration activities; the timing and result ofexploration activities; capital projects and exploration activitiesand the possible results thereof; acquisition opportunities; and theimpact of acquisitions, if any, on the Company. Assumptions may proveto be incorrect and actual results may differ materially from thoseanticipated. Consequently, forward-looking statements cannot beguaranteed. As such, investors are cautioned not to place unduereliance upon forward-looking statements as there can be no assurancethat the plans, assumptions or expectations upon which they are placedwill occur. All statements other than statements of historical factmay be forward?looking statements. Any statements that express orinvolve discussions with respect to predictions, expectations,beliefs, plans, projections, objectives or future events orperformance (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 similarexpressions) are not statements of historical fact and may be"forward looking statements". Actual results may vary fromforward-looking statements. Forward-looking statements are subject toknown and unknown risks, uncertainties and other factors that maycause actual results to materially differ from those expressed orimplied by such forward-looking statements, including but not limitedto: the duration and effects of the coronavirus and COVID-19; risksrelated to the integration of acquisitions; actual results ofexploration activities; conclusions of economic evaluations; changesin project parameters as plans continue to be refined; commodityprices; variations in ore reserves, grade or recovery rates; actualperformance of plant, equipment or processes relative tospecifications and expectations; accidents; labour relations;relations with local communities; changes in national or localgovernments; changes in applicable legislation or application thereof;delays in obtaining approvals or financing or in the completion ofdevelopment or construction activities; exchange rate fluctuations;requirements for additional capital; government regulation;environmental risks; reclamation expenses; outcomes of pendinglitigation; limitations on insurance coverage as well as those factorsdiscussed in the Company's other public disclosure documents,available on www.sedarplus.ca . Although the Companyhas attempted to identify important factors that could cause actualresults to differ materially from those contained in forward-lookingstatements, there may be other factors that cause results not to be asanticipated, estimated or intended. The Company believes that theexpectations reflected in these forward-looking statements arereasonable, but no assurance can be given that these expectations willprove to be correct and such forward?looking statements includedherein should not be unduly relied upon. These statements speak onlyas of the date hereof. The Company does not intend, and does notassume any obligation, to update these forward-looking statements,except as required by applicable laws. Neither the Canadian SecuritiesExchange nor the Market Regulator (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
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