Element79 Gold (CSE: Elem, OTCQB: ELMGF, FWB: 7ys) gives more details about recent developments in the Lucero project in Peru, after the company had invoked the Force Majeurure clause under its agreement with Condor Resources (TSXV: CN).
“If you work outside … A jurisdiction such as North America, you can come across these delays. And although we have been working with the community with the community for more than two and a half years since the acquisition of this project on Lucero, there has been ebbs and streams, both at a federal level and at the local level, the CEO and the CEO, said James.
By calling on the force majeure clause, Element79 was able to pause payment obligations with regard to the Lucero project for a maximum of two years.
“It gives us the opportunity to work out the things that postpone the progress of the project. Although we are still firmly believing the opportunity that the Lucero project has and what it stands in the future, it is unfortunately a slow Poy for the time being,” Tworek explained.
In the meantime, the company will shift its reconnaissance focus to its Nevada projects, including the Elephant Project and the recently acquired Gold Mountain project.
“Nevada is nothing new for us. We took over a portfolio of 16 projects in 2021, all in the General Carlin Getchell and Battle Mountain Trend,” said Tworek.
The Chief Executive noted that the Elephant project is close to a number of large producing and former producing mines and has around 40 drill holes that will give the exploratory team a jumping start. The company is working on releasing the very first NI 43-101 report on the Elephant project, of which Tworek said it will provide insight into the current source and future project work.
View the full interview with Element79 Gold CEO James C. Tworek above.
#Element79 #Gold #CEO #highlights #Strategic #Pivot #Nevada #projects