Element79 Gold Unearths High-Grade Gold and Silver at Lucero Mine
Vancouver, BC -- February 13, 2024 -- NewsGenie -- Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS0) has announced the final results from its 2023 work campaign at the Lucero mine project in Arequipa, Peru, conducted by SLM Resource Group. The campaign focused on revisiting historic workings at the Apacheta, Pillune, and Sando Alcalde areas.
Key highlights from the 2023 SLM program, which included a total of 72 chip samples, with 27 from the Pillune and Sando Alcalde areas. Noteworthy assays include 1.7 oz/t Gold and 189 oz/t Silver at Sando Alcalde, and 2.6 oz/t Gold and 3 oz/t Silver at Pillune. These results underscore the high-grade nature of the Lucero mineralization and its potential for near-term restart.
CEO and Director of Element79 Gold, James Tworek, expressed gratitude for SLM's work, stating that the assays revealed impressive gold and silver mineralization, clarifying what they believe will be a significant mining operation. The assay results, collected underground across several veins, showed high-grade gold-silver mineralization in veins ranging from 0.1 to 0.3 meters thick.
Figure 1. Lucero Project showing major historic mining areas.
Figure 2. Satellite image showing the Pillune and Sando Alcalde Areas of the Lucero Project.
Figure 3. Photographs of select underground chip sample locations at Pillune and Sando Alcalde Areas.
The Lucero project, formerly the Shila mine operated by Buenaventura, consists of 10,813 hectares in southern Peru. From 1998 to 2004, it reported production averaging approximately 18,800 ounces of gold and 435,000 ounces of silver per year.
Element79 Gold is focused on restarting production at the Lucero project in 2024 and is also advancing its portfolio of properties in Nevada and British Columbia.