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New Listing: Element 29 Resources (TSXV:ECU)

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The company is a mineral exploration company, focused on Flor de Cobre and Elida, two new high quality copper projects in Peru which management believes show excellent potential for resource growth.

Additional Information:

Company: Element 29 Resources
Website: http://www.e29copper.com
Stock Symbol: TSXV:ECU
Date Published: Dec 7, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Element 29 Resources is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “ECU”, following its initial public offering.

The company raised gross proceeds of $6,655,200 from the placement of 13,310,400 units priced at $0.50 per unit, with each unit consisting of one share and one-half a warrant with a full warrant exercisable at $0.70 for 36 months.

The offering was led by Haywood Securities with a syndicate including BMO Capital Markets and Canaccord Genuity.

The shares are trading at $0.42.

The company is a mineral exploration company, focused on Flor de Cobre and Elida, two new high quality copper projects in Peru which management believes show excellent potential for resource growth.

Both projects have been drill-tested, with consistent and continuous intercepts ranging from 200 to 500 meters at economic grades, and no deleterious elements.

Flor de Cobre is located approximately 30 kilometers southeast of the large copper mine at Cerro Verde and approximately 7 kilometers northwest of the Chapi mine.

The Flor de Cobre property includes Candelaria, a well-known copper prospect identified in the 1930’s and the site of a historical small-scale mining operation.

Exploration strategy is focused on drilling in the area of historical resource of 57.4 million tonnes of 0.67% copper and testing new porphyry targets generated by recent IP survey on trend towards Cerro Verde mine.

First pass drilling at Elida by Lundin Mining in 2014-2015 consisted of 18 core holes totalling 9,880 meters which outlined part of a large system with copper and moly mineralization at one porphyry center.

No additional drilling has been done on the property since.

The company's principal objective is to explore and develop the Flor de Cobre and Elida Projects, and to identify other properties worthy of investment and exploration.

For more information, please visit the company’s website www.e29copper.com, contact Brian Booth, President and CEO, at 888-246-7881 or email bbooth@e29copper.com.

I’m Megan Edwards for Investmentpitch Media