Ero Copper's Promising Mineral Resource for Furnas Project
Ero Copper Unveils Initial Mineral Resource Estimate for Furnas Project
Ero Copper Corp. recently announced an exciting milestone with its initial mineral resource estimate for the Furnas Copper-Gold Project. This project, nestled in the Carajás Mineral Province, has garnered significant interest due to its promising resources.
Key Highlights of the Mineral Resource Estimate
According to the latest estimates, utilizing a 1.00% copper equivalent (CuEq) cutoff grade, the mineral resource estimate reveals a grand total of:
Indicated and Inferred Resources
- Indicated Mineral Resource: 35.2 million tonnes with an average grade of 1.04% copper and 0.69 grams per tonne (gpt) gold, which equates to approximately 364,700 tonnes of copper and around 775,300 oz of gold.
- Inferred Mineral Resource: 61.3 million tonnes at 1.06% copper and 0.63 gpt gold, translating to approximately 647,400 tonnes of copper and over 1.2 million ounces of gold.
This resource estimate is backed by over 90,000 meters of historical drilling, carried out by esteemed companies such as Vale S.A. and Anglo American plc, alongside rigorous resampling and validation efforts led by Ero Copper.
CEO's Vision for Future Development
David Strang, the CEO of Ero, expressed optimism about the potential of the Furnas project. "This initial mineral resource estimate serves as a robust foundation for our upcoming plans, as we aim to explore and expand upon these findings in the months ahead," he stated. "With our Phase 1 drill program, we plan to achieve two significant goals: refining high-grade zones through infill drilling and deeply exploring areas beyond the previously drilled 300-meter vertical depth limit."
Strang highlighted the unique prospects of the Furnas project as a major copper-gold mining opportunity. Leveraging their experience in underground mining operations in Brazil, along with successful projects like the Tucumã mine, Ero Copper is well-positioned to advance this project.
The partnership with Vale Base Metals fortifies their commitment to responsible mining practices, aiming to yield sustainable benefits while boosting Brazil’s standing in global mineral production.
Upcoming Phase 1 Drilling Program
In anticipation of further development, Ero Copper has received drilling permits and is scheduled to begin a minimum 28,000-meter Phase 1 drilling program in the coming months. This program will target notable high-grade zones within the deposit, focusing on:
- Infill drilling to enhance the understanding of inferred resources.
- Extensional drilling where historical data indicates a likelihood of increased grade and thickness.
Insights on Mining and Resource Management
The Furnas project, located about 50 kilometers from Vale's Salobo operations, encompasses an impressive 2,400 hectares. Its proximity to vital infrastructure, including roads and industrial facilities, makes it a prime candidate for successful extraction activities.
In recent developments, Ero Copper entered a definitive earn-in agreement with Salobo Metais S.A., presenting a strategic opportunity to secure a 60% interest in the project upon achieving specified milestones over five years.
To ensure that estimations and technological applications meet internationally recognized standards, the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) Definition Standards are implemented in reporting the mineral resources. All estimates considered a copper price of US$9,259 per tonne and a gold price of US$1,900 per ounce.
The Importance of Quality Assurance
Ero Copper emphasizes the integrity and quality of its resource estimation procedures. A series of four diamond drilling campaigns have incorporated strict quality control measures, ensuring accurate sampling and testing. The historical quality assurance and control data have been meticulously reviewed, achieving results that align with industry standards, thereby validating the reliability of the extracted data.
About Ero Copper Corp.
Ero Copper stands out as a prominent low carbon-intensity copper producer, primarily operational in Brazil. Its main assets include a significant stake in the Mineração Caraíba S.A., overseeing crucial mining operations in the Curaçá Valley. The company also holds equity interest in NX Gold S.A., which manages the Xavantina operations.
Python remains the ticker symbol for Ero Copper on both the TSX and NYSE, underscoring its strong presence within the mining sector.
Frequently Asked Questions
What is the significance of the mineral resource estimate for Ero Copper?
This estimate underlines the substantial potential of the Furnas Project, crucial for future exploration and development.
What are the main goals of the Phase 1 drilling program?
The primary aims include defining high-grade zones and extending mineralization depth beyond the previous limits.
Who is Ero Copper Corp. collaborating with on the project?
Ero Copper is partnering with Vale Base Metals to advance the Furnas Project sustainably.
What techniques are in place for resource assessment?
Mineral resources are estimated according to CIM Definition Standards to ensure compliance and accuracy.
How does Ero Copper ensure the quality of its data?
Through rigorous quality assurance, control measures, and comprehensive analysis of historical drilling data.
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