Ero Copper hits 67 metres of 9.21% copper in extension of the Pilar mine

Vancouver-based Ero Copper (TSX: ERO, NYSE: ERO) has provided an exploration update on its ongoing drill programs for the MCSA mining complex and the NX Gold mine, both in Brazil, with a highlight hole of 67 metres of 9.21% copper at MCSA.

The company’s primary asset is a 99.6% interest in the Brazilian copper mining company, MCSA, which owns the MCSA Mining Complex in Bahia state. Copper ore is mined at MCSA from the Pilar and Vermelhos underground mines.

Deepening extension drilling within the Pilar mine has delineated a new open zone of “Superpod” mineralization extending over 350 metres in strike length at the deepest limits of the previously defined 2020 inferred mineral resource shell.

Recent results represent some of the best holes drilled by the company in the Curaçá Valley to date. Hole FC5522 intersected 67 metres grading 9.21% copper including 21 metres at 14.14% copper (the best hole on a grade-metre basis drilled by the company) located 470 metres beneath the current development of the mine. Located on the same level, approximately 100 metres south of that intercept, hole FC5523 intersected 35.2 metres grading 5.51% copper including 9 metres at 8.6% copper. Mineralization remains open to depth and along strike.

At the Vermelhos mine, new drilling continues to extend mineralization adjacent to mine infrastructure as well as to intersect new mineralized lenses up to 125 metres beneath the main orebodies.

MCSA also owns 100% of the Boa Esperança development project, an IOCG-type copper project located in Pará, Brazil.

In addition, Ero Copper owns 97.6% of the NX Gold mine, an operating gold and silver mine in Mato Grosso state. The company decided late last year to extend the life of the mine.

New extensions to depth of the Santo Antonio Vein at NX Gold are highlighted by the best intercept in the history of the mine. Hole SA94A, located approximately 10 metres beyond the limit of the 2020 inferred mineral resource shell, intersected 9 metres grading 22.66 grams gold per tonne. ln addition, hole MAT20A, which intersected 2.8 metres grading 19.73 grams gold per tonne, represents the discovery of a new high-grade extension of the Matinha Vein; the new vein extension is located approximately 600 metres down-plunge from the previously defined limit of the Matinha Vein.

The current results include the regional discovery of two new mineralized gold systems, known as the Sovaco de Cobra and the Mata Verde systems, located approximately 1.2 km northeast and 25 km east-northeast of the NX Gold mine, respectively.

There are currently 24 drill rigs working throughout the Curaçá Valley, including six drill rigs allocated to regional exploration. Nine drill rigs are operating at NX Gold and the company now has three drill rigs operating at the Boa Esperança project.”

“All in all, the results from this spring drilling campaign have continued to point to the potential for mine life extension at both of the company’s producing assets,” Jackie Przybylowski, a mining analyst at BMO Capital Markets commented in a research note. She has an outperform rating on the company and a one-year price target of $31 per share.

At press time Ero Copper was trading at $25.05 per share within a 52-week range of $15.98 and $29.76 per share.