Nexa Resources reports Q3 exploration results

Nexa Resources (NEXA) provided the drilling and assay results from the third quarter of 2024. Nexa’s 2024 drilling strategy emphasizes near-mine expansion and brownfield and infill drilling, with additional exploration drilling planned for promising greenfield projects. Exploration expenditure and drilling execution are approximately 14% behind schedule, mainly due to operational challenges and rainfall impacting activities at Cerro Lindo. By the end of the third quarter, cumulative drilling reached 170,008 meters comprising 44,658 meters from exploration drilling and 125,350 meters from mining infill drilling. Total exploration drilling for 3Q24 amounted to 18,850 meters, with 11,391 meters completed in Peru, 6,712 meters in Brazil, and 746 meters in Namibia. This includes 5,193 meters dedicated to early-stage greenfield projects in Brazil and Peru. Drilling activities in 3Q24 were behind schedule, primarily due to technical and mechanical issues affecting early-stage greenfield projects in Brazil, Peru, and Namibia, resulting in of 2,496 meters less drilling than was planned. For the next quarter, planned exploration drilling includes 13,475 meters in Peru, 5,350 meters in Brazil, and 1,450 meters in Namibia, totaling 20,275 meters. Highlights: Cerro Lindo, Orebody 8B: 4.6 meters at 2.75% Zn and 0.47% Cu in drill hole PECLD07556 from 544.95 meters. Aripuana, Massaranduba target: 4.1 meters at 0,61% Cu in drill hole BRAPD000198 from 651.4 meters. Vazante, Sucuri Norte orebody: 3.3 meters at 7.13% Zn in drill hole BRBVZEND000067 from 469.0 meters. El Porvenir, Integracion target: 19.2 meters at 4.53% Zn in drill hole PEEPD02781 from 297.9 meters;5.5 meters at 5.84% Zn and 1.58% Cu in drill hole PEEPD02802 from 452.8 meters. 14.4 meters at 4.02% Zn and 0.50% Cu in drill hole PEEPD02802 from 501.0 meters. Commenting on the report, Jones Belther, Senior Vice President of Mineral Exploration & Business Development, said “Our brownfield exploration programs are progressing well, focused on expanding our exploration portfolio and extending the life of our mines. At Cerro Lindo, drilling has confirmed the depth and continuity of mineralization in Orebody 8B. At Aripuana, recent exploration of the Massaranduba target, located 3 km southeast of Babacu, identified mineralized intercepts. Results at Vazante confirm the extent of mineralization at the northern end of the Sucuri target. Meanwhile, at our Pasco complex, drilling continues to expand the depth of mineralization at the Integracion orebody.”