# Element 29 Resources Adds Third Drill Rig at Elida Copper Project in Peru

- URL: https://stocks.freetheai.org/news/element-29-resources-adds-third-drill-rig-at-elida-copper-project-in-peru-e700af
- Published: 2026-10-13T11:30:00Z
- Category: company_news; sentiment: bullish; impact: medium
- Symbols: [TSXV:ECU](https://stocks.freetheai.org/symbols/TSXV-ECU)
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Element 29 Resources Inc. (TSXV:ECU) has deployed a third drill rig at its Elida copper project in Peru, starting exploration on the previously untested Zone 4 target. Meanwhile, two existing drill rigs are conducting step-out drilling at Zone 1 to expand the site's inferred mineral resource base. Following the announcement, shares of the company rose 4.42% to 1.89 CAD.

The addition of the third rig is designed to accelerate the company's exploration pace as it aims to complete more than 10,000 meters of drilling in 2026. Expanding work at Zone 1 could increase the overall size of the copper resource, while initial drilling at Zone 4 tests a new porphyry target that could yield additional mineralized areas.

Investors can look for initial assay results within two to four weeks. In addition, Element 29 Resources may seek regulatory approvals for up to 60 drill platforms to support broader geological testing across the system.

## Key points

- Element 29 Resources deployed a third drill rig at the Elida copper project in Peru.
- Drilling has commenced on the untested Zone 4 target while two rigs continue step-out drilling at Zone 1.
- The company plans to complete over 10,000 meters of drilling during 2026.
- Initial assay results are expected within two to four weeks.
- Element 29 Resources may request approval for up to 60 drill platforms for expanded testing.

## Questions and answers

### What is Element 29 Resources doing at the Elida copper project?

Element 29 Resources has brought in a third drill rig at the Elida project in Peru to begin drilling the untested Zone 4 while continuing resource expansion drilling at Zone 1.

### When will Element 29 Resources release drill assay results from Elida?

Local assay results from the current drilling program at the Elida project are expected within two to four weeks.

### How much drilling does Element 29 Resources plan for 2026?

The company plans to complete more than 10,000 meters of drilling at the Elida project in 2026.