Exciting Developments at the Furnas Copper-Gold Project
VANCOUVER, British Columbia — Ero Copper Corp. (TSX: ERO, NYSE: ERO) is excited to share the final assay results from its extensive 28,000-meter Phase 1 drill program at the Furnas Copper-Gold Project, part of the Carajás Mineral Province in Brazil. This announcement unveils significant progress in the understanding and development of the project.
High-Grade Continuity in Drilling Results
The results from the Phase 1 program are revealing a consistent pattern of high-grade mineralization that extends deeper in the deposit, beyond what was previously expected. This allows for a confident expansion of the known mineralization limits, with a notable depth reach of approximately 950 meters below the surface.
Notable Drill Highlights
Among the standout drill results:
- FURN-DD-00322: A significant intercept of 115 meters at 0.76% copper and 0.47 grams per tonne gold (0.98% CuEq), striking from a depth of 220 meters down-dip.
- FURN-DD-00305: 103 meters at 0.88% copper and 0.80 grams per tonne gold (1.26% CuEq), showcasing the continuity within the high-grade zones.
- FURN-DD-00321: Deep drilling in the Northwest zone revealed 115 meters with 0.47% copper and 0.27 grams per tonne gold (0.60% CuEq), indicating further potential in this area.
- FURN-DD-00300: Showed good continuity with 80 meters at 1.02% copper and 0.36 grams per tonne (1.19% CuEq), reinforcing the resource conversion in the Northwest zone.
Continuing Drilling Efforts with Greater Ambitions
Currently, Ero Copper has eight drill rigs on site at Furnas, actively engaged in the ongoing Phase 2 drill program. This program is expected to encompass an additional 17,000 meters and is projected to wrap up ahead of schedule.
“Our Phase 1 drill results have reaffirmed the enormous potential for low-cost, long-term operations at Furnas,” stated Makko DeFilippo, President and Chief Executive Officer of the company. These results not only confirm the continuity of known high-grade mineralization but go beyond previous expectations, indicating even more significant resources possible beneath the surface.
Foundation for Future Growth
The completed assays from the Phase 1 drill program will play a crucial role in updating the National Instrument 43-101 compliant mineral resource estimate and guiding future exploration efforts. Ero anticipates finishing the preliminary economic assessment (PEA) of the project in the early half of the year, further bolstering projections for the area.
About the Furnas Copper-Gold Project
The Furnas project is situated approximately 50 kilometers from Vale Base Metals' Salobo operations and 190 kilometers from the company's Tucumã Operation. With 2,400 hectares under its belt, the project is strategically positioned near significant infrastructural developments including roads, power facilities, and industrial plants.
In a recent milestone, Ero Copper has entered into an earn-in agreement with Vale Base Metals for a 60% stake in the Furnas Project, signifying a strong partnership that promises further exploration and optimized project development.
Resource Estimate Highlights
From a historical drilling database, an initial NI 43-101 compliant mineral resource estimate showed:
- Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 grams per tonne gold, comprising approximately 364,700 tonnes of copper and 775,300 ounces of gold.
- Inferred Mineral Resource: 61.3 million tonnes at a grade of 1.06% copper and 0.63 grams per tonne gold, equating to approximately 647,400 tonnes of copper and over one million ounces of gold.
The integration of new data will enhance the understanding of the mineralization encountered and guide further exploration efforts for Ero Copper Corp.
Looking Ahead
With a robust drilling program underway and the promising results from the Phase 1 drills, Ero Copper is set on a trajectory toward expanding its operational capabilities. The strategic partnership with Vale Base Metals is expected to bolster both the project’s development and the company’s market position in the copper industry.
Frequently Asked Questions
What is the Furnas Copper-Gold Project?
The Furnas project is an iron oxide copper-gold deposit located in Brazil, near important mining infrastructure.
What are the recent drilling results?
Recent results include high-grade intercepts showing continuity and significant depth extensions of mineralization, with notable numbers highlighted in drill holes.
What is Ero Copper's strategy moving forward?
Ero Copper aims to enhance its resource estimates through ongoing drilling and strategic partnerships, particularly with Vale Base Metals.
How does Ero Copper calculate its mineral resources?
The company uses standards set by NI 43-101 and CIM for accurate resource assessment and reporting.
Where can I find more information about Ero Copper?
More details, including reports and updates on operations, can be found on Ero Copper's official website.
