- Lucero property’s underground mapping reveals extensive historical workings, surpassing initial expectations.
- Portfolio expansion along the Battle Mountain trend in Nevada presents near-term resource development opportunities.
- Strategic initiatives, including property sales and option agreements, demonstrate Element79’s proactive approach to maximizing value for shareholders.
Are you in search of a stock that has been laying low? Look no further. There’s one gold play that’s been quietly simmering, yet holds immense potential. Element79 (CSE:ELEM) may have been relatively silent, but investors haven’t lost interest; in fact, they’re steadily accumulating. Towards late January 2024, the share price saw a significant uptick and has since stabilized. It’s highly probable that investors are eagerly anticipating a surge in this stock. To ensure you don’t overlook this golden opportunity, I’ll provide a detailed breakdown tailored just for you.
First things first, let’s talk about gold
In 2024, gold is shining brightly on the financial scene, captivating investors with its opportunities and reliability. Here’s a less flamboyant, yet engaging rundown on why gold is a hot topic:
- Interest Rates and Monetary Moves: With the U.S. Federal Reserve likely to cut interest rates, gold becomes more appealing. Lower interest rates generally boost gold’s allure because it performs well when the returns on other investments don’t overshadow it.
- Inflation and Global Uncertainty: As economic uncertainties and inflation persist, gold steps up as a reliable safeguard. It’s valued for its ability to protect against the erosion of currency value, making it a preferred asset during times of financial stress.
- Technical Momentum: Gold has been breaking past key resistance levels, indicating strong market sentiments. This momentum suggests potential for reaching new highs, with some forecasts eyeing the $2,400 per ounce mark, driven by its technical and market trends.
- Diversification Benefits: Gold is like a strategic player in an investment portfolio, offering diversification that can reduce risk. It’s known for its stability in turbulent times, which can help balance out the ups and downs of other investments.
Analysts are optimistic about gold in the coming year, predicting it could reach dazzling new highs thanks to a combination of lower expected interest rates, ongoing global economic challenges, and its traditional role as a financial asset.
Do you want gold? Here is Element79!
Gold is interesting, and shows lots of advantages. But if you want to have a higher risk/reward, Element79 (CSE:ELEM) is a company to look after.
Element79 Gold is a dynamic player in the precious metals industry, demonstrating a strong commitment to capitalizing on the growing demand for gold and silver. The company’s strategic operations focus on two significant projects, each situated in established mining jurisdictions known for their rich mineral deposits.
Key Projects of Element79 Gold
- Lucero Mine, Arequipa, Peru:
- Type: Previously-producing, high-grade gold and silver mine.
- Objective: The company aims to develop a maiden resource estimate and resume production in the near term.
- Location Advantages: Situated in Arequipa, Peru, an area with a historical mining presence, which provides a robust infrastructure and experienced labor force, enhancing the prospects of rapid development and reduced operational risks.
- Maverick Springs Project, Nevada, USA:
- Type: Flagship project with significant gold and silver resources.
- Resource Estimate: The project boasts a 43-101-compliant, pit-constrained mineral resource estimate. As of October 19, 2022, it contains an inferred resource of approximately 3.71 million ounces of gold equivalent (AuEq) at a grade of 0.92 g/t AuEq, which breaks down to 0.34 g/t Au and 43.4 g/t Ag.
- Location Advantages: Located between Elko and White Pine Counties in northeastern Nevada, this region is famed for its extensive gold mining history. The favorable location in such a renowned district provides a competitive edge due to established logistics, regulatory familiarity, and mining-friendly community support.
- But that’s not all. Brace for more thrills as the company has inked an Option Agreement to sell the Maverick Springs project. The countdown is on as the company eagerly anticipates sealing this deal on or before July 21, 2024.
The Company’s dynamic portfolio also boasts 5 properties lining the coveted Battle Mountain trend in Nevada. Among them, the Clover and West Whistler projects stand out, holding immense promise for rapid resource development. Excitement mounts as three properties within the Battle Mountain Portfolio are currently under contract for sale to Valdo Minerals Ltd., with the deal set to close in the first half of 2024.
What is the Most Recent Update From the Company?
We could talk to you about the conference participation or the closing of the second tranch of the private placement, but its update about the Lucery property is the most interesting one.
Recent underground mapping and channel sampling efforts on Element79’s Lucero property have exceeded expectations, revealing new insights and expanding the understanding of the geological landscape. Initially estimated at just 2.5 km, historical workings have been found to span a vast 8.9 km network, with 85% now meticulously mapped and sampled. This significant discovery positions the Company for unprecedented exploration opportunities.
A total of 19 adits have been mapped to date, with 10 more awaiting underground mapping. The recent work between October and December has provided valuable insights into the gold-silver mineralization of the project. Here are some of the key findings:
- The mineralization follows an intermediate sulfidation epithermal style, characterized by Au-Ag veins accompanied by lead and zinc sulphides.
- Subvertical structures, hosted within dacite tuffs, primarily control the mineralized veins, with an average vein width of 0.40m.
- Mineralization within the Apacheta zone remains open at depth and towards the northwest.
- Two structures, the Promesa vein and the Pillune sector, show significant exploration potential for gold-silver mineralization.
- Particularly noteworthy is the Pillune sector, which appears to host a well-defined ore shoot, indicating substantial mineralization potential.
“As we advance on this journey of discovery, our commitment to unlocking Lucero’s vast potential through collaborative relationships remains unwavering. With each milestone, we inch closer to realizing our vision of sustainable and responsible resource exploration and production. We remain dedicated to creating enduring value for our shareholders and fostering prosperity within the communities we operate.”
James Tworek, CEO of Element79
What you Need to Remember about Element70
Element79 (CSE:ELEM)’s recent discoveries and strategic initiatives position the company for significant growth and success in the near future. With the expansion of the Lucero property’s geological landscape and the impending sale of properties along the Battle Mountain trend, Element79 is poised to capitalize on exciting exploration opportunities while maximizing shareholder value.
Marc has been involved in the Stock Market Media Industry for the last +4 years. After obtaining a college degree in engineering in France, he moved to Canada, where he created Money,eh?, a personal finance website. He then contributed to building Guerilla Capital, a Capital Markets company and FirstPhase Media where he was head of research. At10xAlerts, he writes articles and conducts interviews on many sectors, including technology, metals & mining markets.
