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Ero Copper shares were up nearly 6% Tuesday morning after the company released new drill results for its Vale do Curaçá copper project located in Bahia State, Brazil, and at its NX Gold Mine located in Mato Grosso State.
The drilling highlights at Curaçá include hole FC48155, with 46.5 meters grading 4.96% copper including 36.5 meters grading 6.08% copper and including 6.0 meters grading 11.98% copper; and hole FC48161, with 20.3 meters grading 4.76% copper including 9.5 meters grading 7.12% copper and including 2.2 meters grading 12.07% copper.
“At the Pilar Mine in Bahia, drill results from the Deepening Extension Zone continue to exceed our own lofty expectations,” said David Strang, Ero Copper CEO in a media statement.
“At the NX Gold Mine, results highlight the potential to continue to increase mine life and ultimately grow production volumes from the mine. The first regional exploration efforts commenced during the third quarter at the mine, and there are now a total of eight drill rigs in operation.”
Throughout December, drill rigs within the Curaçá Valley are being demobilized for year-end maintenance and are expected to restart in January 2021.
A mine plan for NX Gold suggests a six-year life for the operation. In the first four years (starting in 2021), the mine would produce an average of 41,400 gold oz. annually.
The company has a C$1.68 billion market capitalization.
