Nexa Reports Second Quarter 2022 Exploration Results

Rhea-AI Summary

Nexa Resources reports its second quarter 2022 drilling and assay results, indicating a strong focus on near-mine expansion and infill drilling. Cumulative drilling production reached 132,302 meters, with 34,434 meters from exploratory drilling. Significant results include intersections at Cerro Lindo and the Pasco complex, with notable grades of zinc, lead, silver, and gold. Future exploratory drilling plans total 24,900 meters, distributed across Peru, Brazil, and Namibia. Overall, Nexa aims to expand its mineral resources while enhancing life-of-mine in its operations.

Positive

• Cumulative drilling production reached 132,302 meters, indicating strong progress.
• Exploratory drilling has yielded high-grade results, particularly at Cerro Lindo and the Pasco complex.
• Future exploratory drilling plans encompass 24,900 meters, enhancing growth potential.

Negative

• None.

LUXEMBOURG / ACCESSWIRE / July 26, 2022 / Nexa Resources S.A. ("Nexa Resources", "Nexa", or "Company") is pleased to provide today the drilling and assay results from the second quarter of 2022. This document contains forward-looking statements.

Summary

Nexa's drilling strategy for 2022 is focused on near-mine expansion brownfield and infill drilling, including the Aripuanã project which is in the ramp-up stage. Additional exploratory drilling is also planned for greenfield projects with a favorable perspective.

Exploration expenditure and drilling production are running close to budget and drilling schedule. By the end of the second quarter, cumulative drilling production achieved 132,302 meters with 34,434 meters from exploratory drilling and 97,868 meters from infill drilling. Total exploratory drilling in 2Q22 was 18,339 meters with 12,357 meters from Peru, 4,412 meters from Brazil, and the remaining 3,231 meters from Namibia. Exploratory drilling planned for the next quarter includes 12,900 meters in Peru with nine rigs, 9,500 meters in Brazil with four rigs, and 2,500 meters in Namibia with two rigs, totaling 24,900 meters.

Commenting on the report, Jones Belther, Senior Vice-President Mineral Exploration & Technology, said "Our brownfield exploration programs are advancing toward expansion of our exploration portfolio and potentially increasing life of mine in our mining operations. Cerro Lindo Pucasalla's target has continued to be extended to the southeast highlighted by hole PECLD06064 with 4.4 meters grading 1.37% Zn and 0.72% Pb. At the Pasco complex, the Integración orebody continues to be expanded at depth in holes with multiple intersections up to 32 meters like 17.7 meters grading 1.91% Zn, 0.93% Pb, 43.74g/t Ag, and 0.65g/t Au. At the Asunción orebody in the San Gerardo open pit, we obtained several mineralized drill intersections such as 3.8 meters grading 1.63% Zn, 6.48% Pb, and 122.6 g/t Ag. At Morro Agudo/Bonsucesso, brownfield drilling continues revealing thick and high-grade mineralized intersections in the central zone of the mineralized body highlighted by hole BRMAMBSCD000239 with 8.8 meters grading 14.06% Zn and 2.86% Pb. An important confirmation of zinc and lead mineralization at the Poções target, located four kilometers northwest of Bonsucesso, opens the potential to expand Bonsucesso Mineral Resources. At Aripuanã, the Babaçu northwest extension confirmed thick and high grade intercept after assay results received in May 2022 with 231.5 meters grading 9.49% Zn, 3.65% Pb, and 0.13g/t Au including 56.6 meters grading 26.19% Zn, 9.14% Pb, 82 g/t Ag and 0.25 g/t Au".

For a full version of this document, please go to our Investor Relations website at: http://ir.nexaresources.com

About Nexa

Nexa is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five long-life underground mines - three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil - and is developing the Aripuanã project as its sixth underground mine in Mato Grosso, Brazil. Nexa was among the top five producers of mined zinc globally in 2021 and also one of the top five metallic zinc producers worldwide in 2021, according to Wood Mackenzie.

Contact:

Roberta Varella - Head of Investor Relations | ir@nexaresources.com
+55 11 94473-1388

SOURCE: Nexa Resources S.A.

View source version on accesswire.com:
https://www.accesswire.com/709891/Nexa-Reports-Second-Quarter-2022-Exploration-Results

FAQ

What were Nexa Resources' drilling results for Q2 2022?

Nexa Resources reported cumulative drilling production of 132,302 meters, with significant exploratory results at several sites.

How much exploratory drilling is Nexa planning for the next quarter?

Nexa plans a total of 24,900 meters of exploratory drilling across Peru, Brazil, and Namibia.

What grades were found in the recent drilling at Cerro Lindo?

Recent drilling at Cerro Lindo revealed 4.4 meters grading 1.37% Zn and 0.72% Pb.

What is Nexa's strategy for 2022 regarding drilling?

Nexa's strategy focuses on near-mine expansion and infill drilling, primarily targeting the Aripuanã project.