Ero Copper Corp. (the “Company”)
(TSX:
ERO) is pleased to provide a quarterly update on the
ongoing exploration drill programs for its 99.6% owned MCSA Mining
Complex located in Bahia State, Brazil and its 97.6% owned NX Gold
Mine located in Mato Grosso State, Brazil. This update encompasses
drill and assay results received from early December 2020 through
early April 2021.
HIGHLIGHTS
Regional Exploration
Program
- Delineation of two
new mineralized systems within the Curaçá Valley, measuring 800
meters and 2.2 kilometers in strike length respectively,
highlighted by the following drill results:
- FTS-62: 25.0
meters @ 1.02% Cu (Terra do Sal System, Surubim District)
- FC4-05:13.6 meters
@ 1.24% Cu (C4 System, Surubim District)
In-Mine and Near-Mine Exploration
Programs (Pilar & Vermelhos Mines)
- FVS-922: 13.8
meters @ 2.62% Cu, including 4.0 meters @ 5.52% Cu, and FVS-872:
4.2 meters @ 5.72% Cu including 2.0 meters @ 9.60% Cu (“Novo” Zone
Discovery, Vermelhos Mine, located 200 meters below current mine
infrastructure)
- FC48142: 20.9
meters @ 5.16% Cu, including 3.0 meters @ 10.02% Cu (Deepening
Extension, Pilar Mine)
- FVS-1229: 9.2
meters @ 3.64% Cu, including 4.0 meters @ 6.23% Cu (Extension of
Toboggan orebody, Vermelhos Mine)
- FSI-105: 4.7
meters @ 2.73% Cu and 6.4 meters @ 1.67% Cu (Extension of known
mineralization, Vermelhos Southern Corridor)
Past Producing Mine
Re-evaluation
- FLM-16: 15.0
meters @ 3.03% Cu, including 4.0 meters @ 4.44% Cu (Lagoa da Mina,
Surubim District, high grade zone identified within historic drill
database)
- FAS-102: 37.0
meters @ 0.87% Cu (Suçuarana Norte, Pilar District, holes
identified within historic drill database)
Exploration activities during the period
continued to advance target zones and newly identified mineral
systems within each of the Company’s core exploration programs.
These programs are focused on developing multiple targets in
parallel within the Company’s exploration portfolio that have the
potential to meaningfully augment each phase of the Company’s
life-of-mine production plans from the near to medium-term and over
the long-term at both the MCSA Mining Complex and the NX Gold Mine.
A summary of relevant highlights from these programs has been
provided in Table 1, attached to this press release.
- Regional
Exploration Program: Regional exploration efforts within
the Curaçá Valley are currently focused on drilling and completing
additional ground geochemistry and ground geophysical surveys
including borehole electromagnetic (“EM”) surveys within several
newly identified mineralized systems. Work is currently ongoing
within two of these systems, measuring between 800 meters and 2.2
kilometers in strike length. There are currently six drill rigs
operating on these programs, as well as six dedicated geochemistry
teams, four ground gravity teams and three ground induced
polarization (“IP”) teams further refining drill locations within
these new systems. Additional exploration work on other untested
high-priority target areas throughout the broader Curaçá Valley
remains ongoing.
- In-Mine
and Near Mine Exploration Programs: Exploration efforts
are focused on extensions of continuity as well as discovery of new
mineralized envelopes within the Deepening Extension Zone of the
Pilar Mine, extensions at depth below the Vermelhos Mine main
orebodies, extensions of mineralization within the Southern
Vermelhos Corridor and extensions of the Santo Antonio Vein of the
NX Gold Mine. Notable results during the period include (i)
high-grade extensions and the deepest intercept drilled in the
Deepening Extension Zone of the Pilar Mine to date, located
approximately 150 meters below the limit of the 2020 inferred
mineral resource shell, (ii) a newly discovered high-grade lens,
known as the “Novo Zone”, located approximately 200 meters beneath
the main Vermelhos orebodies and existing infrastructure of the
mine and (iii) a near-development high-grade structure located 15
meters south of existing development within the Toboggan orebody of
the Vermelhos Mine. Results from the ongoing NX Gold exploration
program, where 10 drill rigs are currently operating, are expected
for the Company’s second quarter exploration update due to
third-party assay lab closures in Brazil.
- Past
Producing Mine Re-evaluation: Exploration efforts focused
on near to medium-term production growth during the period
comprised a re-evaluation of each of the Company’s fully permitted,
past producing open pit mines within the Curaçá Valley. These
efforts are centered upon using newly developed regional
exploration datasets to evaluate the potential for targeted
high-grade open pit and underground development. To date, target
zones have been identified from just beneath the historic open pits
up to 70 meters beneath the pit limits in two of the Company’s past
producing open pit mines. Active drilling within these programs is
currently underway at Lagoa da Mina, the northern portion of the
Angicos Mine (within the Surubim District) and at Suçuarana Norte
(within the Pilar District). A targeting and drill program for
high-grade mineralization beneath the Surubim Mine is currently
being developed and is expected to commence during Q2 2021.
Commenting on the results, David Strang,
President and CEO, stated, “We hit the ground running on all of our
exploration programs in 2021 and I am pleased that we are starting
to see significant results from our systematic approach to
exploration within the Curaçá Valley after re-prioritization of
regional programs due to the COVID-19 pandemic during 2020. So far,
our teams have identified and developed a comprehensive portfolio
of ongoing projects with positive implications throughout our life
of mine plans that, in my mind, are beginning to crystallize the
real potential and inherent optionality of the Curaçá Valley.
We have updated our approach to releasing
quarterly exploration results to provide the reader with a
simplified, itemized overview of our exploration programs during
the quarter and to better reflect the potential impact on our
operations over the near, medium and longer term as we work to both
(i) increase production through utilization of available excess
mill capacity with our regional exploration programs, and (ii)
continue to improve and augment the near and medium term production
profile (improved grade and mill throughput) versus what is
outlined in our current life of mine plan with our past producing
and in-mine operational programs.
Our regional exploration programs within the
Curaçá Valley have highlighted the discovery of two new mineralized
systems. Both of these new systems, although early days, have
excellent potential to host high-grade massive sulphide
mineralization as well as disseminated near-surface mineralization.
Within one of these systems, known as “C4”, disseminated sulphide
mineralization has been intercepted from surface outcrop to
approximately 700 meters below surface. Given the extent of
identified mineralization, we are using ground-based geophysical
tools and borehole EM throughout these systems to further define
their extent and evaluate potential for higher-grade
massive-sulphide mineralized bodies within the mineralized
envelopes. In addition, our regional Platinum Group Metal (“PGM”)
studies continue to progress as we have now brought multi-element
analysis capability in-house.
In our operations, we continue to have success
in demonstrating continuity of high-grade mineralization within the
Deepening Extension Zone at the Pilar Mine and within the Vermelhos
Mine. At Vermelhos, two new zones of mineralization, including a
high-grade lens discovered approximately 200 meters beneath the
current infrastructure of the mine is giving us line of site
towards being able to extend the high-grade production profile from
Vermelhos – a key objective of this year’s program. In addition, we
continue to focus on extending the Deepening Extension Zone to
depth as well as upgrading the Inferred mineral resources within
the zone.
A new exploration initiative was started in late
2020 to evaluate our fully permitted, past producing open pit mines
targeting both expansion potential and high-grade underground
continuity. These historic assets have never before been looked at
incorporating all of the available datasets we have compiled during
our regional exploration campaign, and while early, the program is
already producing some compelling results. Confirmatory drilling of
these high-grade zones is underway and two examples of the style of
mineralization we are targeting have been provided in this release.
Additional results from these ongoing programs are expected in the
Company’s second quarter exploration update.
At NX Gold, our exploration programs are
progressing according to plan. We currently have 10 drill rigs
operating in the district focussed on extending the known
mineralization of the Santo Antonio vein, identifying new veins
within and adjacent to the mine’s infrastructure and conducting the
first regional exploration drill programs on identified structures
between two and 20 kilometers away from the mine. While we are
excited about the early stages of the program, at this time there
is a significant backlog of available fire-assay results due to
third-party assay lab closures in Brazil during Q1 2021. We
anticipate being in a position to provide results during our next
exploration update.”
There are currently twenty-three drill rigs
working throughout the Curaçá Valley, including six drill rigs
allocated to regional exploration, including within the two newly
identified mineralized systems.
Expansions and extensions, as referenced herein,
reflect mineralization not captured in the Company’s updated NI
43-101 mineral resource and mineral reserve models, as outlined in
the Company’s technical reports dated January 8, 2021 and January
14, 2021 for NX Gold Mine and the MCSA Mining Complex (or the
“Curaçá Valley”), respectively. There has been insufficient work
and analysis surrounding new discoveries, as referenced herein, to
define a mineral resource and it is uncertain if further
exploration and analysis will result in such targets being
delineated as a mineral resource.
The drill holes outlined in this press release
within the Vermelhos and Pilar Districts will be made available on
the Company’s Curaçá Valley site tour and interactive
three-dimensional models for the Pilar Mine and the Vermelhos
System, which can be accessed via the Company’s website
(www.erocopper.com) or via VRIFY Technology Inc. (“VRIFY”)
(www.vrify.com).
REGIONAL EXPLORATION PROGRAM
The Company’s strong pipeline of regional
exploration prospects are currently focused on two newly discovered
mineral systems which contain high potential for both high-grade
and near-surface disseminated mineralization. Work streams within
these systems are advancing at various stages of development and
prioritization ranging from ground geochemistry and mapping to
active drilling and follow-up borehole EM surveys.
Terra do Sal System
The Terra do Sal System is located 8.0
kilometers southeast of the Surubim Mine. While a small, historic,
inferred mineral resource had previously been defined, the
incorporation of newly compiled regional datasets, including ground
geochemistry and geophysical data, as well as ongoing confirmatory
drilling suggests that the mineralized system is more extensive
than previously thought. The system footprint has now been
interpreted on surface as extending over 800 meters in strike
length and measures approximately 250 meters in thickness at
surface. Representative historic holes within the Terra do Sal
system include FTS-13 that intersected 21.0 meters grading 1.08%
copper, FTS-14 that intersected 58.0 meters grading 1.52% copper
including 28.0 meters grading 2.05% copper and FTS-27 that
intersected 45.0 meters grading 1.01% copper including 16.0 meters
grading 1.25% copper. New holes, drilled by the Company in late
2020, demonstrate both the extension of and continuity within the
broader system. Results are highlighted by hole FTS-62 that
intersected 25.0 meters grading 1.02% including 6.0 meters grading
1.38% copper. Ground geophysical work and target refinement is
ongoing with drilling / borehole EM work to further test the
broader system expected to recommence later in 2021.
Please see Figure 1 for a plan map detailing
Terra do Sal System collar locations and Figure 2 for a east-west
cross-section.
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Terra do Sal System |
FTS-13 |
325.0 |
346.0 |
21.0 |
1.08 |
FTS-14 |
243.0 |
301.0 |
58.0 |
1.52 |
including |
248.0 |
276.0 |
28.0 |
2.05 |
FTS-27 |
175.0 |
220.0 |
45.0 |
1.01 |
including |
181.0 |
197.0 |
16.0 |
1.25 |
FTS-29 |
276.0 |
287.0 |
11.0 |
0.85 |
FTS-62 |
316.5 |
341.5 |
25.0 |
1.02 |
including |
326.5 |
332.5 |
6.0 |
1.38 |
NSI indicates no significant intercept, based on
a three meter mining width and a cut-off grade of 0.18% copper for
regional exploration programs to demonstrate geological controls,
irrespective of depth. Drill holes were drilled from surface. Holes
not included are either pending assay results, have been included
in a different section of this press release for clarity of
discussing drill results or were previously included in a prior
press release. The length of intercept may not represent the true
width of mineralization. Values may not add up due to rounding.
From, to and mineralized intercepts are rounded to the nearest
tenth of a meter.
C4 System
The C4 System is located approximately 13
kilometers south, south-west of the Surubim Mine. Drilling and
surface geochemistry have estimated the extent of the system on
surface over 2.2 kilometers in strike length, and the system has
been mapped over approximately 200 meters in thickness at surface.
Due to the large footprint of the system, drill targets have been
separated into four separate domains. Drill results continue to
highlight the extent of disseminated copper mineralization across
multiple drill targets within these domains. To date,
mineralization has been intercepted at C4 from outcrop at surface
to approximately 700 meters below surface as evidenced by hole
FC4-01 that intersected a series of mineralized lenses over the
length of the 700 meter drill hole – making it among the deepest
mineralized intercepts identified in the Curaçá Valley outside of
the Pilar Mine. Borehole EM work to target high-grade zones within
the identified mineralized target domains remains ongoing.
Please see Figure 3 for a plan map detailing C4
System collar locations and Figure 4 for a north-south long
section.
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
C4 System (North) |
FC4-01* |
47.2 |
50.7 |
3.6 |
0.69 |
and |
89.8 |
108.5 |
18.8 |
0.31 |
and |
122.4 |
140.3 |
18.0 |
0.30 |
and |
161.1 |
205.1 |
44.0 |
0.33 |
and |
232.9 |
242.7 |
9.8 |
0.31 |
and |
248.7 |
259.9 |
11.3 |
0.20 |
and |
265.0 |
270.3 |
5.3 |
0.56 |
and |
326.8 |
331.8 |
5.0 |
0.38 |
and |
344.8 |
359.6 |
14.9 |
0.22 |
and |
390.8 |
400.9 |
10.0 |
0.39 |
and |
408.2 |
428.7 |
20.4 |
0.22 |
and |
442.6 |
454.2 |
11.6 |
0.29 |
and |
472.9 |
507.7 |
34.9 |
0.22 |
and |
516.7 |
524.5 |
7.8 |
0.33 |
and |
560.3 |
573.1 |
12.8 |
0.22 |
and |
589.2 |
614.0 |
24.8 |
0.28 |
and |
621.3 |
645.5 |
24.2 |
0.22 |
and |
670.5 |
696.9 |
26.4 |
0.25 |
FC4-02 |
94.9 |
105.6 |
10.7 |
0.33 |
and |
111.0 |
122.0 |
11.0 |
0.25 |
and |
130.3 |
135.1 |
4.8 |
0.45 |
and |
155.4 |
191.3 |
35.9 |
0.37 |
including |
174.2 |
187.0 |
12.9 |
0.49 |
FC4-03 |
NSI |
NSI |
NSI |
NSI |
FC4-07 |
2.2 |
5.7 |
3.5 |
0.48 |
and |
34.7 |
48.8 |
14.1 |
0.29 |
and |
72.3 |
77.7 |
5.4 |
0.28 |
and |
91.8 |
143.5 |
51.7 |
0.24 |
FC4-10 |
NSI |
NSI |
NSI |
NSI |
FC4-14 |
26.2 |
31.1 |
4.9 |
0.40 |
and |
65.9 |
72.7 |
6.9 |
0.31 |
and |
148.7 |
155.1 |
6.4 |
0.44 |
and |
169.9 |
173.0 |
3.1 |
0.65 |
CRC4-01 |
70.0 |
80.0 |
10.0 |
0.29 |
and |
132.0 |
147.0 |
15.0 |
0.28 |
and |
163.0 |
171.0 |
8.0 |
0.35 |
and |
186.0 |
200.0 |
14.0 |
0.28 |
CRC4-02 |
68.0 |
114.0 |
46.0 |
0.21 |
CRC4-03 |
104.0 |
142.0 |
38.0 |
0.20 |
and |
158.0 |
213.0 |
55.0 |
0.37 |
including |
188.0 |
195.0 |
7.0 |
0.89 |
CRC4-04 |
98.0 |
139.0 |
41.0 |
0.31 |
and |
178.0 |
185.0 |
7.0 |
0.25 |
and |
266.0 |
271.0 |
5.0 |
0.64 |
FC4-17 |
NSI |
NSI |
NSI |
NSI |
C4 System (Central) |
CRC4-09 |
69.0 |
139.0 |
70.0 |
0.31 |
including |
90.0 |
106.0 |
16.0 |
0.45 |
FC4-19 |
24.3 |
75.0 |
50.7 |
0.40 |
FC4-21 |
NSI |
NSI |
NSI |
NSI |
FC4-25 |
137.2 |
151.2 |
14.0 |
0.32 |
and |
166.3 |
181.9 |
15.6 |
0.34 |
FC4-26 |
79.9 |
94.5 |
14.6 |
0.28 |
and |
101.9 |
150.7 |
48.8 |
0.26 |
and |
157.3 |
166.8 |
9.5 |
0.21 |
CRC4-11 |
148.0 |
155.0 |
7.0 |
0.31 |
and |
162.0 |
168.0 |
6.0 |
0.24 |
and |
249.0 |
260.0 |
11.0 |
0.52 |
and |
296.0 |
300.0 |
4.0 |
0.50 |
FC4-20 |
16.4 |
21.2 |
4.8 |
0.39 |
and |
40.3 |
92.6 |
52.3 |
0.32 |
including |
86.0 |
90.0 |
4.0 |
0.69 |
C4 System (Southeast) |
FC4-04 |
25.8 |
30.8 |
5.0 |
0.19 |
and |
37.9 |
46.6 |
8.7 |
0.22 |
and |
51.5 |
56.7 |
5.2 |
0.22 |
and |
102.0 |
117.0 |
15.0 |
0.30 |
FC4-06 |
25.3 |
60.0 |
34.8 |
0.19 |
FC4-08 |
NSI |
NSI |
NSI |
NSI |
C4 System (Southwest) |
FC4-05 |
32.8 |
46.4 |
13.6 |
1.24 |
including |
32.8 |
36.8 |
4.0 |
1.79 |
FC4-09 |
85.1 |
89.2 |
4.1 |
0.72 |
FC4-12 |
9.8 |
27.0 |
17.2 |
0.40 |
and |
42.4 |
51.1 |
8.7 |
0.40 |
FC4-15 |
NSI |
NSI |
NSI |
NSI |
FC4-18 |
NSI |
NSI |
NSI |
NSI |
(*)FC4-01 is a vertical hole, drilled to test
mineralization continuity at depth. Please refer to associated
long-section for grade profile of drill holes. NSI indicates no
significant intercept, based on a three meter mining width and a
cut-off grade of 0.18% copper for regional exploration programs to
demonstrate geological controls, irrespective of depth. Drill holes
were drilled from surface. Holes not included are either pending
assay results, have been included in a different section of this
press release for clarity of discussing drill results or were
previously included in a prior press release. The length of
intercept may not represent the true width of mineralization.
Values may not add up due to rounding. From, to and mineralized
intercepts are rounded to the nearest tenth of a meter.
IN-MINE & NEAR-MINE EXPLORATION PROGRAMS
During the period, the Company continued to
prioritize drilling of the Deepening Extension Zone within the
Pilar underground mine, where the Company continues to confirm
thick and high-grade mineralization at depth as well as extensions
of the Vermelhos Mine, including within the Southern Vermelhos
Corridor.
The Deepening Extension Zone, Pilar
Mine
Exploration activities in the Deepening
Extension Zone remain focused on upgrading the inferred mineral
resource classification through infill drilling and further
extending the known limits of mineralization to depth and
down-plunge. The drill program utilizing directional drilling
technology to evaluate the mineralized potential of the Deepening
Extension Zone to depth, continues as planned. These holes can be
differentiated by the letter ascribed to the same numerical
“parent” hole.
Deepening Extension Zone drilling is currently
targeting mineralization on the East Limb of the Pilar Mine to
level -1500 approximately 1,200 meters to 2,000 meters below
surface and approximately 100 meters laterally from the current
level of the primary ramp (completed to level -979).
The known limits of mineralization, that remain
open, within the Deepening Extension Zone extend over approximately
900 meters in strike length, over a total depth of approximately
600 meters and over average thicknesses ranging from 10 to 15
meters with localized thickening throughout the zone. Within the
total strike length, a higher-grade continuous zone of
approximately 400 to 500 meters in strike length continues to be
supported in the central segments of the target area. Drilling
during the period continued to test continuity within a new zone of
high-grade mineralization in the south-central segment of this area
at depth. Five drill rigs continue to systematically drill the
defined exploration target area within the Deepening Extension
Zone.
Results are highlighted by noteworthy high-grade
drilling throughout the zone including hole FC48142 that
intersected 20.9 meters grading 5.16% copper including 3.0 meters
grading 10.02% copper within the south-central high-grade area, and
hole FC5175 that intersected 11.3 meters grading 4.25% copper
including 2.3 meters grading 17.70% copper and 9.7 meters grading
3.15% copper in the northern high-grade area. Results during the
period also include the deepest known intercept of mineralization
of the Pilar Mine in hole FC48173B, that intersected 7.2 meters
grading 2.14% copper including 4.0 meters grading 3.08% copper. The
intercept in hole FC48173B is located approximately 200 meters
deeper than the limit of the 2020 inferred mineral resource,
indicating that the Pilar Mine remains open to depth.
In addition, as was first detailed in the
Company’s press release dated December 15, 2020, a new offset zone
of parallel mineralization at depth continues to be confirmed. This
zone is located approximately 70 to 120 meters east of the main
Deepening Extension Zone. Results during the period are highlighted
by hole FC5518 that intersected 22.0 meters grading 1.02% copper
including 4.0 meters grading 2.02% copper and hole FC5519 that
intersected 22.2 meters grading 2.32% copper including 8.0 meters
grading 3.52% copper. These holes are located approximately 500
meters north of previously announced hole FC47173 (7.2 meters
grading 3.28% copper including 3.0 meters grading 4.35% copper).
These new results continue to support the potential to delineate a
new, parallel structure to the Deepening Extension Zone extending
over a defined north-south strike length of approximately 600
meters that remains open to the north, south and to depth. Please
refer to the Company’s press release dated December 15, 2020 for
additional detail on previously released holes.
Please see Figure 5 for a north-south long
section, Figure 6 for a west-southwest to east-northeast composite
section and Figure 7 for a level map showing collar locations of
Deepening Extension Zone drilling within the Pilar Mine.
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Deepening Extension Zone |
FC47197 |
597.3 |
600.3 |
3.0 |
1.26 |
FC48142 |
699.9 |
703.9 |
4.0 |
1.11 |
and |
727.4 |
748.3 |
20.9 |
5.16 |
including |
738.9 |
741.9 |
3.0 |
10.02 |
FC48173A |
526.2 |
534.8 |
8.6 |
0.85 |
and |
539.8 |
566.3 |
26.6 |
1.53 |
including |
539.8 |
552.8 |
13.0 |
2.15 |
and |
573.2 |
580.2 |
7.0 |
2.21 |
including |
573.2 |
575.2 |
2.0 |
5.26 |
and |
597.3 |
600.4 |
3.1 |
1.82 |
and |
642.9 |
651.5 |
8.6 |
2.10 |
FC48173B |
360.1 |
367.3 |
7.2 |
2.14 |
including |
362.1 |
366.1 |
4.0 |
3.08 |
FC5175 |
638.1 |
649.3 |
11.3 |
4.25 |
including |
638.1 |
640.3 |
2.3 |
17.70 |
and |
656.3 |
666.1 |
9.7 |
3.15 |
including |
663.8 |
666.1 |
2.2 |
11.18 |
FC5517A |
NSI |
NSI |
NSI |
NSI |
FC5518 |
628.6 |
631.6 |
3.1 |
1.07 |
and |
739.0 |
761.0 |
22.0 |
1.02 |
including |
740.0 |
744.0 |
4.0 |
2.02 |
FC5519 |
691.5 |
713.7 |
22.2 |
2.32 |
including |
702.3 |
710.3 |
8.0 |
3.52 |
and |
835.6 |
847.6 |
12.0 |
1.36 |
including |
845.6 |
847.6 |
2.0 |
3.66 |
FC5630C |
NSI |
NSI |
NSI |
NSI |
NSI indicates no significant intercept based on
a three meter mining width and cut-off grade of 0.51% copper. Drill
holes were drilled from level -670 in the Pilar Mine. Holes not
included are either pending assay results, have been included in a
different section of this press release for clarity of discussing
drill results or were previously included in a prior press release.
The length of intercept may not represent the true width of
mineralization. Values may not add up due to rounding. From, to and
mineralized intercepts are rounded to the nearest tenth of a
meter.
Vermelhos Mine Extensions
Within the Vermelhos Mine, drilling seeks to
test continuity of mineralization near existing mine infrastructure
and to test for new high-grade lenses at depth. Results are
highlighted by hole FVS-922 that intersected 13.8 meters grading
2.62% copper including 4.0 meters grading 5.52% copper and hole
FVS-872 that intersected 4.2 meters grading 5.72% copper including
2.0 meters grading 9.60% copper in a newly discovered zone of
mineralization. The zone, known as the “Novo Zone” was drilled
based upon a revised structural interpretation supported by
geologic mapping of the main Vermelhos orebodies. The new discovery
is located approximately 200 meters below the existing
infrastructure of the Vermelhos Mine and has been interpreted as a
sub-horizontal, north-plunging lens of high-grade massive sulphide
mineralization, extending over an identified strike length to date
of approximately 200 meters. The lens remains open down plunge and
drilling of the modeled extension, along with borehole EM surveys,
is ongoing.
In addition to the Novo Zone, new mineralization
extending the continuity of high-grade mineralization adjacent to
existing infrastructure within the mine has been delineated during
short-term infill drilling. A new area of mineralization identified
within the immediate mine area extends known high-grade
mineralization and remains open to depth. The target area has been
drilled over 35 meters in strike length, 17 meters in vertical
extent with an average thickness of 10 meters, and is located
immediately adjacent to existing infrastructure.
Please see Figure 8 for a plan map detailing all
Vermelhos near-mine collar locations, Figure 9 for north-south long
section detailing all Vermelhos near-mine drilling and Figure 10
for an east-west cross-section detailing the Novo Zone
discovery.
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Vermelhos Mine Toboggan Extension |
FV-189 |
NSI |
NSI |
NSI |
NSI |
FVS-869 |
357.0 |
360.0 |
3.0 |
0.86 |
and |
366.0 |
370.0 |
4.0 |
1.03 |
FVS-919 |
NSI |
NSI |
NSI |
NSI |
FVS-1144* |
51.5 |
64.3 |
12.8 |
1.77 |
including |
61.6 |
64.3 |
2.7 |
3.59 |
and |
69.3 |
76.5 |
7.2 |
2.35 |
FVS-1226* |
8.2 |
12.0 |
3.7 |
4.74 |
FVS-1229* |
7.3 |
16.5 |
9.2 |
3.64 |
including |
11.5 |
15.5 |
4.0 |
6.23 |
Novo Zone |
FVS-872 |
205.0 |
209.2 |
4.2 |
5.72 |
including |
207.2 |
209.2 |
2.0 |
9.60 |
FVS-922 |
553.8 |
567.5 |
13.8 |
2.62 |
including |
562.9 |
566.9 |
4.0 |
5.52 |
FVS-924 |
NSI |
NSI |
NSI |
NSI |
FVS-925 |
588.7 |
591.4 |
2.7 |
2.57 |
NSI indicates no significant intercept, based on
a three meter mining width and a cut-off grade of 0.18% copper for
near-surface intervals and 0.51% for intervals below 200 meters
down hole. Drill holes were drilled from surface and from level
+258, level +170, level +190 and level +120 in the Vermelhos Mine.
Holes not included are either pending assay results, have been
included in a different section of this press release for clarity
of discussing drill results or were previously included in a prior
press release. The length of intercept may not represent the true
width of mineralization. Values may not add up due to rounding.
From, to and mineralized intercepts are rounded to the nearest
tenth of a meter. (*) Denotes short-term drilling undertaken for
mine planning purposes that intersected new unmodeled mineralized
envelopes.
Southern Vermelhos Corridor
Exploration activities during the period within
the Southern Vermelhos Corridor, a near-mine exploration zone
extending from the Siriema Deposit to the UG1 mining area of the
Vermelhos Mine, remain focused on two primary objectives: (i)
testing continuity of high-grade copper mineralization within the
corridor, and (ii) conducting borehole EM surveys to identify
high-grade exploration targets. The target zone within the Southern
Vermelhos Corridor has a north-south strike length of approximately
700 meters, an east-west section width of approximately 300 meters
and is currently defined to a depth of approximately 400 meters
below surface.
The program continues to demonstrate the
presence of multiple stacked mineralized lenses, including
high-grade mineralization. Three drill rigs are operational within
the Southern Vermelhos Corridor focused on systematically testing
the continuity of mineralization. The program has been designed on
50 meter drill spacing. Initially, the focus will be the northern
section of the Southern Vermelhos Corridor given its proximity to
the existing mine infrastructure of the Vermelhos Mine and the
potential for exploration success to meaningfully enhance the
near-term base-case grade profile through replacement of lower
grade production in addition to extending the mine life of the
Vermelhos Mine.
Results during the period are highlighted by
hole FSI-105 that intersected 4.7 meters grading 2.73% copper and
6.4 meters grading 1.67% copper. In relation to previous holes,
FSI-105 is approximately 60 meters southwest of hole FVS-910 (7.2
meters grading 1.20% copper including 9.1 meters grading 1.83%
copper ) and approximately 330 meters southwest of hole FVS-911
(3.1 meters grading 1.21% copper and 5.1 meters grading 1.98%
copper). Please refer to the Company’s press release dated December
15, 2020 for additional detail on previously released holes.
Intercepts below three meters in thickness
drilled within the Southern Vermelhos Corridor are reported below
as not significant, consistent with the Company’s minimum mining
thickness and overall approach to reporting exploration drill
results.
Please see Figure 8 for a plan map detailing
Southern Vermelhos Corridor collar locations and Figure 9 for a
north-south long section detailing all Vermelhos near-mine
drilling.
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Southern Vermelhos Corridor |
FSI-103 |
638.1 |
642.3 |
4.2 |
1.55 |
and |
666.5 |
671.8 |
5.3 |
1.07 |
FSI-104 |
NSI |
NSI |
NSI |
NSI |
FSI-105 |
900.6 |
905.3 |
4.7 |
2.73 |
and |
913.0 |
919.4 |
6.4 |
1.67 |
FSI-106 |
635.0 |
638.7 |
3.7 |
1.50 |
FSI-107 |
NSI |
NSI |
NSI |
NSI |
FVS-915 |
NSI |
NSI |
NSI |
NSI |
FVS-916 |
NSI |
NSI |
NSI |
NSI |
FVS-917 |
NSI |
NSI |
NSI |
NSI |
NSI indicates no significant intercept based on
a three meter mining width and cut-off grade of 0.51% copper. Drill
holes were drilled from surface. Holes not included are either
pending assay results, have been included in a different section of
this press release for clarity of discussing drill results or were
previously included in a prior press release. The length of
intercept may not represent the true width of mineralization.
Values may not add up due to rounding. From, to and mineralized
intercepts are rounded to the nearest tenth of a meter.
PAST PRODUCING MINE RE-EVALUATION
In late 2020, the Company commenced an
exploration program designed to strategically review and
re-evaluate known zones of mineralization existing beneath fully
permitted past producing open pit mines throughout the Curaçá
Valley. This program sought to utilize and incorporate new datasets
developed during the Company’s regional exploration programs to
isolate and extend high-grade mineralized envelopes beneath the
mines suitable for open pit and underground mine development and/or
implementation of ore-sorting. The preliminary results of this
program are positive and the Company expects that, with continued
exploration success, these new zones may form an integral component
of the Company’s near to medium-term growth objectives in terms of
filling excess mill capacity at elevated grade profiles. Examples
of identified targets zones within the Lagoa da Mina and Suçuarana
open pits are provided below.
Lagoa da Mina, Angicos Mine, Surubim
District
The past producing open pit Angicos Mine, within
the Surubim District, is located approximately 11 kilometers
northeast of the Surubim Open Pit Mine and approximately 32
kilometers north of the Pilar Mine. While the aggregate mineral
resource of the Angicos Mine is considered to be primarily
lower-grade disseminated copper sulphide mineralization, the
Company’s work program has identified a high-grade zone within the
overall mineralized envelope of the mineral resource that remains
open along strike and to depth. To date, the interpreted high-grade
lens can be traced over 100 meters in strike length, 45 meters in
width with variable thickness of up to 70 meters down-dip. The
characteristic nature of this high-grade lens is best highlighted
by previously drilled hole, FLM-16, that intersected 15.0 meters
grading 3.03% copper including 4.0 meters grading 4.44% copper. To
demonstrate additional continuity of the modeled zone, drilling of
this area commenced in late Q1 2021 along with borehole EM surveys.
Results from this new drill campaign are expected during the
Company’s second quarter exploration update. The table below
highlights the historic drill holes that define the newly
interpreted high grade lens.
Please see Figure 11 for a plan map detailing
Lago da Mina collar locations and Figure 12 for a north-south long
section.
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Lagoa da Mina |
FLM-03 |
200.0 |
220.0 |
20.0 |
1.16 |
FLM-09 |
180.0 |
194.0 |
14.0 |
0.82 |
and |
214.0 |
232.0 |
18.0 |
1.09 |
and |
240.0 |
249.0 |
9.0 |
1.27 |
FLM-16 |
155.0 |
168.0 |
13.0 |
1.13 |
including |
165.0 |
168.0 |
3.0 |
2.56 |
and |
178.0 |
193.0 |
15.0 |
3.03 |
including |
189.0 |
193.0 |
4.0 |
4.44 |
and |
208.0 |
211.0 |
3.0 |
1.01 |
FLM-18 |
194.0 |
203.0 |
9.0 |
1.28 |
including |
194.0 |
196.0 |
2.0 |
2.08 |
and |
224.0 |
235.0 |
11.0 |
1.59 |
including |
225.0 |
227.0 |
2.0 |
2.08 |
FLM-34 |
160.0 |
203.0 |
43.0 |
1.00 |
NSI indicates no significant intercept, based on
a three meter mining width and a cut-off grade of 0.18% copper for
regional exploration programs to demonstrate geological controls,
irrespective of depth. Drill holes were drilled from surface. Holes
not included are either pending assay results, have been included
in a different section of this press release for clarity of
discussing drill results or were previously included in a prior
press release. The length of intercept may not represent the true
width of mineralization. Values may not add up due to rounding.
From, to and mineralized intercepts are rounded to the nearest
tenth of a meter.
Suçuarana Norte, Suçuarana Mine, Pilar
District
The past producing open pit mine of Suçuarana
Norte, within the Pilar District, is located approximately 20
kilometers south of the Pilar Mine and Caraíba Mill. The strategic
review of the Suçuarana Norte open pit, similar to Lagoa da Mina,
has identified a continuous zone of mineralization, grading between
0.60% and 1.00% copper extending from just beneath the historic
open pit mine over 400 meters in strike length. To date, the
higher-grade zone has been modeled to a depth approximately 200
meters from the bottom of the open pit and measures up to 30 meters
in thickness. The zone is believed to be comprised of two parallel,
primary sub-vertical mineralized structures, which are known as the
East and West Lens. To demonstrate additional continuity of the
modeled zone, drilling of this area commenced in late Q1 2021 along
with borehole EM surveys. Results from this new drill campaign are
expected during the Company’s second quarter exploration update.
The table below highlights the historic drill holes that define the
newly interpreted higher grade lenses.
Please see Figure 13 for a plan map detailing
Suçuarana Norte collar locations and Figure 14 for a north-south
long section.
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Suçuarana Norte, West Lens |
FAS-25 |
241.0 |
245.0 |
4.0 |
0.77 |
FAS-26 |
155.0 |
161.0 |
6.0 |
0.72 |
and |
192.0 |
195.0 |
3.0 |
0.80 |
and |
296.0 |
303.0 |
7.0 |
0.65 |
FAS-31 |
163.0 |
168.0 |
5.0 |
0.87 |
Suçuarana Norte, East Lens |
FAS-19 |
142.0 |
147.0 |
5.0 |
0.75 |
FAS-21 |
70.0 |
81.0 |
11.0 |
0.84 |
FAS-29 |
174.0 |
177.0 |
3.0 |
0.72 |
FAS-33 |
70.0 |
81.0 |
11.0 |
0.73 |
FAS-38 |
121.0 |
138.0 |
17.0 |
0.96 |
FAS-40 |
170.0 |
179.0 |
9.0 |
0.86 |
and |
194.0 |
206.0 |
12.0 |
0.82 |
and |
212.0 |
222.0 |
10.0 |
0.70 |
FAS-42 |
118.0 |
121.0 |
3.0 |
0.81 |
and |
233.0 |
237.0 |
4.0 |
0.80 |
FAS-43 |
47.0 |
72.0 |
25.0 |
0.87 |
FAS-45 |
87.0 |
96.0 |
9.0 |
0.92 |
FAS-46 |
138.0 |
142.0 |
4.0 |
0.87 |
FAS-48 |
179.0 |
184.0 |
5.0 |
0.76 |
FAS-51 |
22.0 |
36.0 |
14.0 |
0.88 |
FAS-52 |
134.0 |
153.0 |
19.0 |
0.96 |
and |
186.0 |
192.0 |
6.0 |
1.02 |
FAS-53 |
49.0 |
63.0 |
14.0 |
0.94 |
FAS-55 |
104.0 |
107.0 |
3.0 |
0.82 |
FAS-57 |
189.0 |
193.0 |
4.0 |
0.72 |
FAS-61 |
141.0 |
168.0 |
27.0 |
0.81 |
and |
178.0 |
184.0 |
6.0 |
0.89 |
FAS-65 |
101.0 |
107.0 |
6.0 |
0.87 |
FAS-67 |
144.0 |
163.0 |
19.0 |
0.98 |
and |
178.0 |
182.0 |
4.0 |
0.70 |
and |
189.0 |
199.0 |
10.0 |
0.77 |
FAS-68 |
160.0 |
165.0 |
5.0 |
0.94 |
FAS-71 |
196.0 |
199.0 |
3.0 |
0.75 |
FAS-72 |
166.0 |
169.0 |
3.0 |
0.97 |
FAS-73 |
41.0 |
59.0 |
18.0 |
0.95 |
FAS-76 |
88.0 |
91.0 |
3.0 |
0.87 |
FAS-77 |
81.0 |
89.0 |
8.0 |
0.74 |
FAS-89 |
166.0 |
177.0 |
11.0 |
0.89 |
FAS-102 |
158.0 |
163.0 |
5.0 |
1.04 |
and |
185.0 |
190.0 |
5.0 |
0.76 |
and |
193.0 |
230.0 |
37.0 |
0.87 |
FAS-108 |
7.0 |
12.0 |
5.0 |
0.76 |
and |
15.0 |
18.0 |
3.0 |
0.86 |
FAS-114 |
73.1 |
80.1 |
7.0 |
1.03 |
FAS-115 |
74.6 |
81.6 |
7.0 |
0.81 |
FAS-120 |
130.2 |
139.0 |
8.75 |
0.82 |
and |
181.8 |
192.8 |
11.0 |
0.72 |
and |
193.0 |
230.0 |
37.0 |
0.87 |
NSI indicates no significant intercept, based on
a three meter mining width and a cut-off grade of 0.18% copper for
regional exploration programs to demonstrate geological controls,
irrespective of depth. Drill holes were drilled from surface. Holes
not included are either pending assay results, have been included
in a different section of this press release for clarity of
discussing drill results or were previously included in a prior
press release. The length of intercept may not represent the true
width of mineralization. Values may not add up due to rounding.
From, to and mineralized intercepts are rounded to the nearest
tenth of a meter.
NOTE ON NI 43-101 COMPLIANT TECHNICAL
REPORT(S)
The conversion of drill results presented in
this press release into NI 43-101 compliant mineral resources and
mineral reserves, including but not limited to the drill results
associated with the new and potential extensions of mineralization
across each of the mineral districts, including new discoveries and
newly identified mineralized systems outlined in this press
release, all require additional work and analysis that remains
ongoing. To date, there has been insufficient exploration and
accompanying analysis to define a mineral resource and it is
uncertain if further exploration will result in these extensions
being delineated as a mineral resource. Accordingly, the results
herein may not be included in future NI 43-101 compliant mineral
resources or mineral reserves depending on the results of this
additional work and analysis, and other technical and/or economic
reasons.
QUALITY ASSURANCE / QUALITY CONTROL
MCSA Mining Complex
The Company is currently drilling on surface and
underground with core drill rigs using a combination of owned and
third-party contracted drill rigs. During the period from November
2020 through early April 2021, third-party drill rigs were operated
by Major Drilling do Brasil Ltda., Tamarama Sondagens Ltda., Layne
Christensen Co., and DrillGeo Geologia e Sondagem Ltda., all of
whom are independent of the Company. Drill core is logged,
photographed and split in half using a diamond core saw at the
secure core logging and storage facilities of Mineração Caraíba
S.A. (“MCSA”). Half of the drill core is retained on site and the
other half core is used for analysis, with samples collected on
one-meter sample intervals unless an interval crosses a geological
contact. Reverse circulation cuttings are split at the drill rig
using one-meter sample intervals. All sample preparation is
performed in MCSA’s secure on-site laboratory. Total copper is
determined using a nitric-hydrochloric acid digestion and Atomic
Absorption Spectrometry (“AAS”) and/or Titration. Oxide copper
values are determined using sulfuric acid digestion followed by
AAS. PGM and gold analysis during the period was performed at the
SGS S.A.’s facility in Rustenburg, South Africa and Mintek S.A.’s
facility in Johannesburg, South Africa, with values determined
using nickel sulphide and lead collection fire assay. SGS S.A. and
Mintek S.A. are independent of the Company. All sample results
during the period have been monitored through a QA/QC program that
includes the insertion of certified standards, blanks, and pulp and
reject duplicate samples. Regular check-assays are submitted to ALS
Brasil Ltda’s facility located in Vespasiano, Minas Gerais, Brazil,
at a rate of approximately 5%. ALS Brasil Ltda is a subsidiary of
ALS Limited and is independent of the Company.
NX Gold Mine
The Company is currently drilling on surface
with third-party contracted core drill rigs. During the period from
November 2020 through early April 2021 third-party drill rigs were
operated by Servitec Foraco Sondagem S.A. who is independent of the
Company. Drill core is logged, photographed and split in half using
a diamond core saw at NX Gold S.A.’s (“NX Gold”) secure core
logging and storage facilities. Half of the drill core is retained
on site and the other half core is used for analysis, with samples
collected on half-meter sample intervals for quartz vein and
one-meter intervals in surrounding rock unless such interval
crosses a geological contact. Samples are sent to ALS Brasil
Ltda.’s laboratory in Goiânia (Brazil) for preparation and are
analyzed by the certified laboratory of ALS Peru S.A., whom are
independent of the Company. During the period, gold content has
been determined by both fire assay and screen fire assay. All
sample results during the period have been monitored through a
QA/QC program that includes the insertion of certified standards,
blanks, and pulp and reject duplicate samples at a rate of one
standard, one blank, and one duplicate pulp sample per every 20
samples for a blended rate of approximately 5%.
Emerson Ricardo Re, MSc, MBA, MAusIMM (CP) (No.
305892), Registered Member (No. 0138) (Chilean Mining Commission)
and Resource Manager of the Company who is a “qualified person”
within the meanings of NI 43-101, has reviewed and approved the
disclosure of technical information, including verification of the
sampling, analytical and testing data in this press release.
Quarterly reviews entail sampling and laboratory procedure review
as well as verification of original assay certificates associated
with a selection of samples from Company’s internal database
included in this press release.
ABOUT ERO COPPER CORP
Ero, headquartered in Vancouver, B.C., is
focused on copper production growth from the MCSA Mining Complex,
located in Bahia, Brazil. The Company's primary asset is a 99.6%
interest in the Brazilian copper mining company, MCSA, 100% owner
of the MCSA Mining Complex with over 40 years of operating history
in the region. The Company currently mines copper ore from the
Pilar and Vermelhos underground mines. In addition to the MCSA
Mining Complex, MCSA owns 100% of the Boa Esperança development
project, an IOCG-type copper project located in Pará, Brazil and
the Company owns 97.6% of the NX Gold Mine, an operating gold and
silver mine located in Mato Grosso, Brazil. Additional information
on the Company and its operations, including technical reports on
the MCSA Mining Complex, Boa Esperança and NX Gold properties, can
be found on the Company's website (www.erocopper.com) and on SEDAR
(www.sedar.com).
ERO COPPER CORP. |
|
Signed: “David Strang” |
For further information contact: |
David Strang, President &
CEO |
Makko DeFilippo, Vice President, Corporate Development |
|
(604) 429-9244 |
|
info@erocopper.com |
|
|
CAUTION REGARDING FORWARD LOOKING INFORMATION AND STATEMENTS This
press release contains “forward-looking information” within the
meaning of applicable Canadian securities laws. Forward-looking
information includes statements that use forward-looking
terminology such as “may”, “could”, “would”, “will”, “should”,
“intend”, “target”, “plan”, “expect”, “budget”, “estimate”,
“forecast”, “schedule”, “anticipate”, “believe”, “continue”,
“potential”, “view” or the negative or grammatical variation
thereof or other variations thereof or comparable terminology. Such
forward-looking information includes, without limitation,
statements with respect to the Company's expected operations at the
MCSA Mining Complex and the NX Gold Mine, the estimation of mineral
reserves and mineral resources, the significance of any particular
exploration program or result and the Company’s expectations for
current and future exploration plans including, but not limited to,
planned areas of additional exploration, the potential to convert
any portion of the inferred mineral resource base, the significance
of any drill results or new discoveries and targets, including
without limitation extensions of defined mineralized zones,
possibilities for mine life extensions or continuity of down-plunge
mineralization, further extensions and expansion of mineralization
near the Company’s existing operations of the MCSA Mining Complex
or the NX Gold Mine, statements with respect to potential for any
additional PGM mineralization in the Curaçá Valley, statements with
respect to the importance of any new discoveries including newly
identified mineral systems, the significance of re-evaluation of
the Company’s past producing open pit mines, timing of deliverables
including assay results for the NX Gold Mine or PGM analysis,
timing of the Company’s next exploration update as well as any
implied significance or continuity therein including with respect
to filling excess mill capacity or improving grade profiles
relative to the Company’s current life of mine plans, and
statements with respect to any potential positive economic
enhancements as it relates to the Company’s recent life-of-mine
plan(s), or base-case plan(s) for the Deepening Extension Zone of
the Pilar Mine, the Vermelhos Mine, any past producing open pit
operations of the Company, or the NX Gold Mine based upon
exploration drill results.Forward-looking information is not a
guarantee of future performance and is based upon a number of
estimates and assumptions of management in light of management’s
experience and perception of trends, current conditions and
expected developments, as well as other factors that management
believes to be relevant and reasonable in the circumstances, as of
the date of this Press Release including, without limitation,
assumptions about: favourable equity and debt capital markets; the
ability to raise any necessary additional capital on reasonable
terms to advance the production, development and exploration of the
Company’s properties and assets; future prices of copper and other
metal prices; the timing and results of exploration and drilling
programs; the accuracy of any mineral reserve and mineral resource
estimates; the geology of the MCSA Mining Complex, NX Gold Mine and
the Boa Esperança Property being as described in the technical
reports for these properties; production costs; the accuracy of
budgeted exploration and development costs and expenditures; the
price of other commodities such as fuel; future currency exchange
rates and interest rates; operating conditions being favourable
such that the Company is able to operate in a safe, efficient and
effective manner; work force continues to remain healthy in the
face of prevailing epidemics, pandemics or other health risks,
political and regulatory stability; the receipt of governmental,
regulatory and third party approvals, licenses and permits on
favourable terms; obtaining required renewals for existing
approvals, licenses and permits on favourable terms; requirements
under applicable laws; sustained labour stability; stability in
financial and capital goods markets; availability of equipment and
critical supplies, spare parts and consumables; positive relations
with local groups and the Company’s ability to meet its obligations
under its agreements with such groups; and satisfying the terms and
conditions of the Company’s current loan arrangements. While the
Company considers these assumptions to be reasonable, the
assumptions are inherently subject to significant business, social,
economic, political, regulatory, competitive and other risks and
uncertainties, contingencies and other factors that could cause
actual actions, events, conditions, results, performance or
achievements to be materially different from those projected in the
forward-looking information. Many assumptions are based on factors
and events that are not within the control of the Company and there
is no assurance they will prove to be correct. Furthermore, such
forward-looking information involves a variety of known and unknown
risks, uncertainties and other factors which may cause the actual
plans, intentions, activities, results, performance or achievements
of the Company to be materially different from any future plans,
intentions, activities, results, performance or achievements
expressed or implied by such forward-looking information. Such
risks include, without limitation the risk factors listed under the
heading “Risk Factors” in the Annual Information Form of the
Company for the year ended December 31, 2020, dated March 16, 2021
(the “AIF”). Although the Company has attempted to identify
important factors that could cause actual actions, events,
conditions, results, performance or achievements to differ
materially from those described in forward-looking information,
there may be other factors that cause actions, events, conditions,
results, performance or achievements to differ from those
anticipated, estimated or intended. The Company cautions that the
foregoing lists of important assumptions and factors are not
exhaustive. Other events or circumstances could cause actual
results to differ materially from those estimated or projected and
expressed in, or implied by, the forward-looking information
contained herein. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. Forward-looking information
contained herein is made as of the date of this press release and
the Company disclaims any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or results or otherwise, except as and
to the extent required by applicable securities laws. GENERAL
Information of a scientific or technical nature in respect of the
MCSA Mining Complex included in this press release is based upon
the MCSA Mining Complex technical report entitled “2020 Updated
Mineral Resources and Mineral Reserves Statements of Mineração
Caraíba’s Vale do Curaçá Mineral Assets, Curaçá Valley”, dated
January 14, 2021 with an effective date of October 1, 2020,
prepared by Porfirio Cabaleiro Rodrigues, FAIG, Bernardo Horta de
Cerqueira Viana, MAIG, Paulo Roberto Bergmann, FAusIMM, Fábio
Valério Câmara Xavier, MAIG and Dr. Augusto Ferreira Mendonça, RM
SME all of GE21 Consultoria Mineral Ltda. (“GE21”) and Dr. Beck
(Alizeibek) Nader, FAIG of BNA Mining Solutions (“BNA”), whom are
independent qualified persons under NI 43-101. Information of a
scientific or technical nature in respect of the NX Gold Mine
included in this press release is based upon the technical report
entitled Mineral Resource and Mineral Reserve Estimate of the NX
Gold Mine, Nova Xavantina”, dated January 8, 2021 with an effective
date of September 30, 2020, prepared by Porfirio Cabaleiro
Rodrigues, FAIG, Paulo Roberto Bergmann, FAusIMM, Bernardo Horta de
Cerqueira Viana, MAIG and Leonardo de Moraes Soares, MAIG, all of
GE21, whom are independent qualified persons under NI 43-101.
Please see the relevant Technical Reports filed on the Company’s
profile at www.sedar.com, for details regarding the data
verification undertaken with respect to the scientific and
technical information included in this press release regarding the
MCSA Mining Complex and the NX Gold Mine for additional details
regarding the related exploration information, including
interpretations, the QA/QC employed, sample, analytical and testing
results and for additional details regarding the Mineral Resource
and Mineral Reserve estimates discussed herein.Cautionary Notes
Regarding Mineral Resource and Reserve Estimates In accordance with
applicable Canadian securities regulatory requirements, all mineral
reserve and mineral resource estimates of the Company disclosed or
incorporated by reference in this press release have been prepared
in accordance with NI 43-101 and are classified in accordance with
the CIM Standards.Mineral resources which are not mineral reserves
do not have demonstrated economic viability. Pursuant to the CIM
Standards, mineral resources have a higher degree of uncertainty
than mineral reserves as to their existence as well as their
economic and legal feasibility. Inferred mineral resources, when
compared with Measured or Indicated mineral resources, have the
least certainty as to their existence, and it cannot be assumed
that all or any part of an Inferred mineral resource will be
upgraded to an Indicated or Measured mineral resource as a result
of continued exploration. Pursuant to NI 43-101, Inferred mineral
resources may not form the basis of any economic analysis.
Accordingly, readers are cautioned not to assume that all or any
part of a mineral resource exists, will ever be converted into a
mineral reserve, or is or will ever be economically or legally
mineable or recovered. |
Figures accompanying this release can be downloaded
here: http://ml.globenewswire.com/Resource/Download/9586e8d5-4c43-46e0-8767-b078d7a65c3a
Ero Copper (TSX:ERO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ero Copper (TSX:ERO)
Historical Stock Chart
From Jul 2023 to Jul 2024