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Element79 Gold Shares Production Plans for Lucero Gold Project in Peru

Element79 Gold (CSE:ELEM,OTC Pink:ELMGF) is transitioning from an asset amalgamator to a near-term producer, according to CEO James C. Tworek.

As part of making this transition, the company is looking to formalize the artisanal miners at the property, who are currently producing 70 to 90 metric tons of ore per week from the project.

“There's a permit process in Peru called the reinfo process," Tworek said. "We're currently, with our local community outreach specialists … speaking to all these small permit holders … and trying to bring them in under us.”

Under the reinfo process, Element79 Gold will take on the expenses and bring the artisanal miners’ production under the company. “We get to sell their ore, and that is one way of bringing some level of production under Element79 Gold in the very short run,” Tworek explained.

The company is also looking to sign offtake agreements for production from Lucero. “I don't have a hard line on specific timing, but you're going to see the offtake agreement, or potentially a couple of them being signed," he said. "And with that in mind, we'll be bringing analysis and modeling to the table in terms of setting up drill plans and getting drills turning.”

Element79 just completed fieldwork at the Lucero site to regenerate historical mapping and data sets, and the data will be used to plan its next drilling campaign.

Watch the full interview with Element79 Gold CEO James C. Tworek above.

Disclaimer: This interview is sponsored by Element79 Gold (CSE:ELEM,OTC Pink:ELMGF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Element79 Gold in order to help investors learn more about the company. Element79 Gold is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Element79 Gold and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.


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