Nexa Reports Third Quarter 2022 Exploration Results

Rhea-AI Summary

Nexa Resources has released its third-quarter 2022 drilling and assay results, highlighting a focus on near-mine expansion and infill drilling, particularly at the Aripuanã project. By the end of the quarter, cumulative drilling reached 199,639 meters, with 24,693 meters drilled in Q3 alone. Results indicate potential for extending mine life, especially at Cerro Lindo and the Pasco complex, where significant mineralization was reported. The Hilariôn project also showed promising skarn mineralization. The company plans further exploratory drilling of 28,380 meters in the upcoming quarter.

Positive

• Cumulative drilling production reached 199,639 meters.
• Exploratory drilling in Q3 totaled 24,693 meters.
• Significant mineralization confirmed at Cerro Lindo and Pasco complex.
• Potential to extend the life of mine indicated by exploration results.
• Completed Ambrex infill program at Aripuanã confirmed high-grade intersections.
• Planned exploratory drilling for next quarter totals 28,380 meters.

Negative

• None.

LUXEMBOURG / ACCESSWIRE / October 27, 2022 / Nexa Resources S.A. ("Nexa Resources", "Nexa", or "Company") is pleased to provide today the drilling and assay results from the third 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 third quarter, cumulative drilling production achieved 199,639 meters with 59,127 meters from exploratory drilling and 140,512 meters from infill drilling. Total exploratory drilling in 3Q22 was 24,693 meters with 14,997 meters from Peru, 6,800 meters from Brazil, and the remaining 2,895 meters from Namibia. Exploratory drilling planned for the next quarter includes 13,980 meters in Peru with ten rigs, 9,740 meters in Brazil with nine rigs, and 4,650 meters in Namibia with three rigs, totaling 28,380 meters.

Commenting on the report, Jones Belther, Senior Vice-President of Mineral Exploration & Business Development, said "Our brownfield exploration programs have progressed as planned and initial results continue to indicate we have the potential to extend the life of mine of our current operations. At Cerro Lindo, Pucasalla's target has continued to be extended to the southeast with intersections ranging from 4 to 13 meters. At the Pasco complex, the Integración orebody confirmed continuity at depth below level 3300 in two holes with multiple intersections such as 4 meters grading 4.15% Zn and 0.87% Pb. At Orebody Norte in the San Gerardo open pit, we confirmed deep mineralization continuity, highlighted by hole PEATD01522 with 5.5 meters grading 3.62% Zn, 4.32% Pb, 89.83 g/t Ag and 0.42g/t Au; 2.1m grading 7.51% Zn, 1.47% Pb, 42.74 g/t Ag and 1.20 g/t Au and 9.9 meters grading 2.22% Zn, 0.99% Pb and 0.45 g/t Au. At the Morro Agudo/Bonsucesso trend the Poções target, which is located four kilometers northwest of Bonsucesso, confirmed assay results similar to Bonsucesso with 3.7 meters grading 3.68% Zn and 0.41% Pb reinforcing the potential to expand Bonsucesso Mineral Resources.

In the Hilarión project, at the Hilarión Oeste target, which is located one kilometer southwest of the Hilarión deposit, three scout holes confirmed a skarn mineralized zone occurring as multiple lenses with up to 32 meters in width below outcropping zinc and lead occurrences revealing a mineralized parallel trend adjacent to the Hilarión deposit. At Aripuanã, the Ambrex infill program was completed confirming a thick and high-grade intersection which should support the conversion of Inferred Mineral Resources to Indicated Mineral Resources. New assay results received in 3Q22 are highlighted by holes BRAPD000101 with 34.8 meters grading 7.26% Zn, 11.53% Pb, 420.53 g/t Ag and 0.29 g/t Au (Ambrex body) and 60.4 meters grading 4.56% Zn, 2.04% Pb, 0.53 g/t Au and 46.64 g/t Ag (Babaçu body), and by hole BRAPD000092 with 58.7 meters grading 2.06% Zn and 0.96% Pb and 33.3 meters grading 2.46% Zn and 0.75% Pb (Ambrex body)".

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 starting the Aripuanã project as its sixth underground mine in Mato Grosso, Brazil. Nexa also currently owns and operates three smelters, two located in Brazil and one in Peru, Cajamarquilla, which is the largest smelter in the Americas. 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/722791/Nexa-Reports-Third-Quarter-2022-Exploration-Results

FAQ

What are Nexa Resources' Q3 2022 exploration results?

Nexa Resources reported significant drilling progress in Q3 2022, with 24,693 meters drilled and notable mineralization found at Cerro Lindo and Pasco.

How much drilling did Nexa Resources achieve in Q3 2022?

In Q3 2022, Nexa Resources achieved a total of 24,693 meters of exploratory drilling.

What future drilling plans does Nexa Resources have?

Nexa Resources plans to conduct 28,380 meters of exploratory drilling in the upcoming quarter across Peru, Brazil, and Namibia.

Where is the Aripuanã project located?

The Aripuanã project is located in Mato Grosso, Brazil, and is in the ramp-up stage.

What are the key grades reported in Nexa's Q3 2022 results?

Key grades include intersections at Cerro Lindo with up to 4.15% Zn and 0.87% Pb, and Aripuanã with up to 7.26% Zn and 11.53% Pb.