# Element 29 Adds Third Drill Rig to Accelerate the Ongoing Drill Program at its Elida Porphyry Cu-Mo-Ag Deposit in Per&\#xFA; Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e Original source: https://money.tmx.com/en/quote/ECU/news/6672715824557540/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e Publisher: tmx Original announcement: 2025-10-15T12:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Element 29 Resources Inc. - Ticker: ECU - Exchange: TSX - Region: Perú - Primary commodity: Copper - Secondary commodities: Molybdenum, Silver - Document categories: Drill results, Capital raise - Extracted: 2026-08-21 05:27:50 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Element 29 has mobilized a third drill rig at its Elida Porphyry Cu-Mo-Ag project in Perú to accelerate its 7,000m drilling program. The company also announced the exercise of warrants, generating over CAD$4.6 million in proceeds to fund the campaign. Reasoning: The company is accelerating its exploration at Elida by adding a third rig to test high-priority targets and expand the existing resource. While it restates some historical high-grade intercepts, the mobilization of additional capacity and successful warrant exercise are positive operational signals. - Positive factor: acceleration of drilling program - Positive factor: third rig mobilized - Positive factor: testing high-priority targets - Positive factor: capital raised via warrant exercise - Negative factor: historical results restated - Negative factor: unsuccessful re-entry attempts on ELID033 Facts used in scoring: 12 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The document mentions that core samples are being processed for geochemical analysis and refers to previous technical reports prepared by a Qualified Person. Evidence · text > prepared in accordance with Form 43-101F1 by Marc Jutras, PEng MASc, Principal, Mineral Resources, Ginto Consulting Inc., a Qualified Person **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The current drilling program includes infilling the upper portions of holes to strengthen confidence in the existing Mineral Resource. Evidence · text > the upper portions of the holes infill to strengthen confidence in the existing Mineral Resource ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Drill Results (12) ### ELID033 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-0) Elida · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID033 - Project: Elida - Commodity: copper - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.39 - Grade Unit: % - Intercept: 1039.6 m - From: 69.9 m - To: 1109.6 m #### Classification - Sample Type: drill - Group ID: ELID033:69.9-1109.6 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-01-22T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Large intercept of 1,039.6 m at 0.39% Cu is a significant historical result. - Positive factor: long intercept - Negative factor: historical data Evidence · text > ELID033, which previously intersected 1,039.6 m of 0.54% CuEq \(0.39% Cu, 0.036% Mo, 2.96 g/t Ag\) ### ELID033 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-1) Elida · molybdenum Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID033 - Project: Elida - Commodity: molybdenum - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.036 - Grade Unit: % - Intercept: 1039.6 m - From: 69.9 m - To: 1109.6 m #### Classification - Sample Type: drill - Group ID: ELID033:69.9-1109.6 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-01-22T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Trace molybdenum grade in a historical intercept. - Negative factor: historical data Evidence · text > 0.39% Cu, 0.036% Mo, 2.96 g/t Ag ### ELID033 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-2) Elida · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID033 - Project: Elida - Commodity: silver - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 2.96 - Grade Unit: g/t - Intercept: 1039.6 m - From: 69.9 m - To: 1109.6 m #### Classification - Sample Type: drill - Group ID: ELID033:69.9-1109.6 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-01-22T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Trace silver grade in a historical intercept. - Negative factor: historical data Evidence · text > 0.39% Cu, 0.036% Mo, 2.96 g/t Ag ### ELID033 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-3) Elida · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID033 - Project: Elida - Commodity: copper - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.56 - Grade Unit: % - Intercept: 310.1 m - From: 799.5 m - To: 1109.6 m #### Classification - Sample Type: drill - Group ID: ELID033:799.5-1109.6 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-01-22T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: High grade sub-interval within a historical hole. - Positive factor: high grade sub-interval - Negative factor: historical data Evidence · text > including 310.1 m of 0.71% CuEq \(0.56% Cu, 0.040% Mo, 3.49 g/t Ag\) from 799.5 m ### ELID033 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-4) Elida · molybdenum Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID033 - Project: Elida - Commodity: molybdenum - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.04 - Grade Unit: % - Intercept: 310.1 m - From: 799.5 m - To: 1109.6 m #### Classification - Sample Type: drill - Group ID: ELID033:799.5-1109.6 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-01-22T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Molybdenum grade in a historical sub-interval. - Negative factor: historical data Evidence · text > 0.56% Cu, 0.040% Mo, 3.49 g/t Ag ### ELID033 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-5) Elida · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID033 - Project: Elida - Commodity: silver - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 3.49 - Grade Unit: g/t - Intercept: 310.1 m - From: 799.5 m - To: 1109.6 m #### Classification - Sample Type: drill - Group ID: ELID033:799.5-1109.6 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-01-22T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Silver grade in a historical sub-interval. - Negative factor: historical data Evidence · text > 0.56% Cu, 0.040% Mo, 3.49 g/t Ag ### ELID023 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-6) Elida · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID023 - Project: Elida - Commodity: copper - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.24 - Grade Unit: % - Intercept: 523.5 m - From: 87 m #### Classification - Sample Type: drill - Group ID: ELID023:87.0-null #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-19T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Significant historical copper intercept. - Positive factor: long intercept - Negative factor: historical data Evidence · text > ELID023, which returned 523.5 m of 0.35% CuEq \(0.24% Cu, 0.024% Mo, 2.9 g/t Ag\) ### ELID023 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-7) Elida · molybdenum Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID023 - Project: Elida - Commodity: molybdenum - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.024 - Grade Unit: % - Intercept: 523.5 m - From: 87 m #### Classification - Sample Type: drill - Group ID: ELID023:87.0-null #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-19T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Trace molybdenum grade in a historical intercept. - Negative factor: historical data Evidence · text > 0.24% Cu, 0.024% Mo, 2.9 g/t Ag ### ELID023 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-8) Elida · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID023 - Project: Elida - Commodity: silver - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 2.9 - Grade Unit: g/t - Intercept: 523.5 m - From: 87 m #### Classification - Sample Type: drill - Group ID: ELID023:87.0-null #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-19T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Trace silver grade in a historical intercept. - Negative factor: historical data Evidence · text > 0.24% Cu, 0.024% Mo, 2.9 g/t Ag ### ELID023 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-9) Elida · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID023 - Project: Elida - Commodity: copper - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.41 - Grade Unit: % - Intercept: 91 m - From: 87 m #### Classification - Sample Type: drill - Group ID: ELID023:87.0-null #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-19T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: High grade sub-interval in a historical intercept. - Positive factor: high grade sub-interval - Negative factor: historical data Evidence · text > including 91 m of 0.56% CuEq \(0.41% Cu, 0.032% Mo, 4.1 g/t Ag\) from bedrock surface at 87 m ### ELID023 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-10) Elida · molybdenum Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID023 - Project: Elida - Commodity: molybdenum - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 0.032 - Grade Unit: % - Intercept: 91 m - From: 87 m #### Classification - Sample Type: drill - Group ID: ELID023:87.0-null #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-19T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Molybdenum grade in a historical sub-interval. - Negative factor: historical data Evidence · text > 0.41% Cu, 0.032% Mo, 4.1 g/t Ag ### ELID023 [Link to this fact](https://atlas-staging.minestarters.com/news/element-29-adds-third-drill-rig-to-accelerate-the-ongoing-drill-program-at-its-e--2ce2e5a7-6a63-41f0-8777-1e07b4cbb82e#fact-drill-facts-11) Elida · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ELID023 - Project: Elida - Commodity: silver - Region: perú - Reported Region: Perú - Ticker: ECU #### Geometry - Grade: 4.1 - Grade Unit: g/t - Intercept: 91 m - From: 87 m #### Classification - Sample Type: drill - Group ID: ELID023:87.0-null #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-19T00:00:00.000Z #### Dates - Event date: 2025-10-15T00:00:00.000Z Reasoning: Silver grade in a historical sub-interval. - Negative factor: historical data Evidence · text > 0.41% Cu, 0.032% Mo, 4.1 g/t Ag ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.