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Element 29 Resources ( (TSE:ECU) ) has provided an update.
Element 29 reported new drilling results from hole ELID041 at its Elida porphyry copper-molybdenum-silver deposit in central Peru, intersecting 903.7 metres at 0.38% copper equivalent from near surface and extending mineralization more than 400 metres beyond the current pit-constrained resource shell. The program, now using two rigs, is focused on expanding near-surface open-pit resources, testing deeper higher-grade targets defined by geophysics, and underpinning an updated mineral resource estimate planned for 2026.
The company is also advancing permitting for a new multi-year drill program that would allow up to 40 additional platforms and broaden the exploration footprint across the wider hydrothermal system. Preliminary metallurgical test work slated for the second quarter of 2026 aims to quantify recoveries and characterize ore types, steps that are expected to refine project economics and de-risk potential future development for investors and other stakeholders.
The most recent analyst rating on (TSE:ECU) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Element 29 Resources stock, see the TSE:ECU Stock Forecast page.
Spark’s Take on ECU Stock
According to Spark, TipRanks’ AI Analyst, ECU is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow despite a low-debt balance sheet). Technicals are a meaningful positive with the stock above major moving averages and a positive MACD, while valuation is constrained by negative earnings and no dividend. A positive exploration acceleration event adds modest support but does not offset the current cash-burn profile.
To see Spark’s full report on ECU stock, click here.
More about Element 29 Resources
Element 29 Resources Inc. is a copper-focused exploration and development company listed in Canada, the U.S. and Peru. Its principal asset is the Elida porphyry copper-molybdenum-silver project in central Peru, where it is targeting large-scale, near-surface mineralization amenable to open-pit development to build a significant resource base.
Average Trading Volume: 74,573
Technical Sentiment Signal: Buy
Current Market Cap: C$172.6M
Learn more about ECU stock on TipRanks’ Stock Analysis page.