HIGHLIGHTS
MCSA In-Mine and Near-Mine Exploration Programs
- Deepening Extension drilling, within the
Pilar Mine , continues to extend high-grade "Superpod" mineralization down-plunge and along strike from the current mineral resource:- FC5527: 71.2 meters at 3.55% copper ("Cu"), including 13.0 meters at 8.87% Cu (65 meters south of previously released hole FC5522, which intercepted 67.0 meters at 9.21% Cu)
- FC5396: 61.0 meters at 2.11% Cu, including 18.0 meters at 3.92% Cu (located on the same level approximately 150 meters south of intercept FC5527 and over 200 meters south of previously released intercept FC5522)
- Drilling within the South Extension, located in the upper levels of the
Pilar Mine , has intercepted new and unexpected high-grade mineralization approximately 40 meters outside of the current mineral resource shell and 50 meters from existing mine infrastructure. This new high-grade zone remains open to the south where additional exploration drilling is underway:- FC2974: 8.7 meters at 5.39% Cu, including 4.7 meters at 7.99% Cu
- FC2977: 22.0 meters at 1.57% Cu, including 4.0 meters at 3.43% Cu
- Results within the Deepening Extension and ongoing drill programs within the upper levels of the
Pilar Mine , including new drilling within the South Extension, are supportive of new design efforts to evaluate the potential for increasing overall production volumes from the mine relative to the 2020 life-of-mine plan through the development of a two-mine system in which the upper levels of the mine would be serviced by the existing shaft while lower levels would be completely serviced by the new external shaft. - Exploration drilling at the
Vermelhos Mine continued to extend the limits of known mineralization within a north-trending mineralized corridor (encompassing the East ZoneConduit, in-mine extensions of UG1 and UG3 and the Southern Vermelhos Corridor connecting theVermelhos Mine to Siriema). Drilling during the period targeted the northern extension of this corridor between theVermelhos Mine and the N8 deposit as well as extensions of mineralization adjacent to the mainVermelhos Mine orebodies. Highlights include:- FV-321: 24.0 meters at 0.81% Cu, including 4.0 meters at 1.50% Cu (East Zone Conduit, beneath N8 deposit)
- FVS-876: 13.5 meters at 1.24% Cu, including 2.0 meters at 2.53% Cu (East Zone Conduit, approximately 475 meters south of the intercept in FV-321)
- FVS-1162: 16.9 meters at 1.66% Cu, including 5.8 meters at 9.87% Cu (
Vermelhos Mine , extension of Sombrero orebody to depth) - FVS-1275: 8.4 meters at 3.01% Cu and 13.8 meters at 4.65% Cu, including 5.3 meters at 7.90% Cu (
Vermelhos Mine , extension of Toboggan orebody within existing infrastructure)
MCSA Past Producing Open Pit Mine Re-Evaluation
- Exploration activities at Lagoa da Mina, part of the past-producing
Angicos Mine , continued to undertake wide-spaced step-out drilling beyond the previously identified high-grade zone of mineralization located approximately 70 meters beneath the historic open pit. New drill results indicate the zone of high-grade mineralization extends an additional 200 meters down-plunge and remains open to depth. Results are highlighted by:- FLM-94: 16.0 meters at 1.18% Cu and 24.0 meters at 1.54% Cu, including 11.0 meters at 2.30% Cu (intercept located 250 meters down-plunge from previously announced hole FLM-77 that intercepted 32.2 meters at 2.69% Cu, including 6.0 meters at 4.00% Cu)
NX Gold Mine Highlights
- Drilling throughout the
NX Gold Mine continues to demonstrate continuity of high-grade gold mineralization within the Santo Antonio Vein as well as extend the limits of known mineralization within the recently discovered Matinha Vein with apparent thickening at depth:Santo Antonio , SA104: 8.8 meters at 3.92 grams per tonne (“gpt”) gold (“Au”), including 2.6 meters at 6.33 gpt Au (a down-plunge extension of approximately 115 meters from the limit of the current Inferred mineral resource shell)Santo Antonio , SA94B: 6.0 meters at 23.61 gpt Au (intercept located 40 meters south of previously released drill hole SA94A that intercepted 9.0 meters at 22.66 gpt Au and approximately 40 meters down-plunge of previously released drill hole SA89 that intercepted 2.7 meters at 15.38 gpt Au)- Matinha, MAT25: 10.9 meters at 3.52 gpt Au (located 65 meters down-plunge of previously announced drill hole MAT20A: 2.8 meters @ 19.73 gpt Au)
Commenting on the results,
"Within the Deepening Extension zone, recent drilling has further extended the known limits of the high- grade 'Superpod' mineralization and enhanced our understanding of the increasing potential of the Deepening relative to the project as outlined in 2020. Site clearing and early civil works commenced in September, and in parallel, new drill results are being incorporated into engineering efforts focused on ensuring the optimal external shaft design. We are taking the time to strategically review the shaft design parameters relative to what we knew about the mineral resources of the Deepening in 2020 to provide the maximum benefit for the long-term future of the Company. These efforts are centered upon a potential increase in the shaft depth and diameter in order to (i) enhance flexibility for continuing to extend the mine to depth with new drilling and (ii) optimize material and personnel movement to maximize productive shaft capacity from the highest-grade known area of the
"Our exploration activities at the
There are currently twenty-four 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 four drill rigs operating at the Boa Esperança project in Pará State.
Exploration activities during the period continued to advance target zones and new mineral systems within each of the Company’s core exploration programs. These programs are focused on developing a portfolio of assets in parallel with potential to meaningfully augment each phase of the Company’s life- of-mine production plans from the near to medium-term and over the long-term at both the
Expansions and extensions, as referenced herein, reflect mineralization not captured in the Company’s NI 43-101 compliant mineral resource and mineral reserve models, as outlined in the Company’s technical reports dated
The drill holes outlined in this press release within the Pilar and Vermelhos Districts will be made available on the Company’s Curaçá Valley site tour and interactive three-dimensional models for the
IN-MINE & NEAR-MINE EXPLORATION PROGRAMS
During the period, the Company continued to prioritize infill and extensional drilling of several key areas within the Company's operations in advance of its 2021 mineral resource and reserve update, expected to be released prior to year-end. These programs prioritized drilling of (i) the Deepening Extension within the
Exploration activities within the Deepening Extension remain focused on upgrading high-grade zones of Inferred mineral resources through infill drilling as well as further extending the known limits of mineralization to depth. Deepening Extension drilling is currently targeting mineralization on the East Limb of the
At the deepest limits of the 2020 Inferred mineral resource shell, new drilling continues to increase confidence and extend the limits of an extremely high-grade "Superpod" style zone of mineralization where two plunging zones previously identified within the Deepening Extension appear to join together over an identified strike length of approximately 450 meters and demonstrated vertical continuity over 365 meters. Drilling in this area continues to confirm some of the best drill results drilled by the Company in the Curaçá Valley. The zone remains open to depth and is located approximately 550 meters beneath current mine infrastructure. In parallel with early site works that commenced in September, engineering and design efforts are underway to review the 2020 shaft design, incorporating the latest drilling. These efforts are centered upon maximizing productive shaft capacity for the highest grade areas of the
Results during the period are highlighted by hole FC5527 that intercepted 71.2 meters grading 3.55% copper, including 13.0 meters at 8.87% copper. This intercept is located at the same level, approximately 65 meters south, of the previously released intercept within the Deepening Extension (hole FC5522 that intercepted 67.0 meters grading 9.21% copper). Demonstrating continuity of high-grade mineralization along strike, new drilling in hole FC5396 intercepted 61.0 meters grading 2.11% copper, including 18.0 meters at 3.92% copper, drilled at the same level approximately 150 meters south of intercept FC5527, and over 200 meters south of previously released hole FC5522. Vertical continuity within the zone is highlighted by the previously released hole FC5625 that intercepted 96.4 meters grading 3.97% copper, including 60.6 meters grading 5.61% copper, located approximately 230 meters above the intercepts highlighted in holes FC5527, FC5522 and FC5396. Together with prior results, these intercepts demonstrate localized thickening and vertical continuity of high-grade mineralization over a down-dip distance of approximately 365 meters throughout the 450 meters of identified strike length. Please refer to the Company's press releases dated
Please see Figure 1 for a north-south long section, Figure 2 for a west to east composite section and Figure 3 for a level map showing collar locations of Deepening Extension drilling within the
Q3 2021 Deepening Intercepts(1)
Hole ID | From (m) | To (m) | Length (m) | Cu (%) | |||||
FC48185 | 574.3 | 577.3 | 3.0 | 17.81 | |||||
and | 605.6 | 610.3 | 4.6 | 1.20 | |||||
and | 649.7 | 665.5 | 15.8 | 5.31 | |||||
including | 659.7 | 664.5 | 4.8 | 8.40 | |||||
and | 673.7 | 681.7 | 8.0 | 6.66 | |||||
including | 675.7 | 678.7 | 3.0 | 11.90 | |||||
FC5184 | 560.7 | 565.1 | 4.4 | 4.87 | |||||
including | 561.7 | 563.7 | 2.0 | 9.22 | |||||
and | 663.7 | 669.7 | 6.0 | 1.18 | |||||
FC5185 | NSI | NSI | NSI | NSI | |||||
FC5396 | 773.5 | 776.5 | 3.0 | 1.90 | |||||
and | 785.5 | 846.5 | 61.0 | 2.11 | |||||
including | 824.9 | 842.9 | 18.0 | 3.92 | |||||
FC5524 | 807.7 | 810.8 | 3.1 | 1.07 | |||||
and | 892.4 | 901.0 | 8.6 | 6.11 | |||||
including | 896.4 | 899.4 | 3.0 | 8.75 | |||||
FC5526 | 713.8 | 726.5 | 12.7 | 3.50 | |||||
including | 723.8 | 726.5 | 2.7 | 7.78 | |||||
and | 758.6 | 761.6 | 3.0 | 1.87 | |||||
FC5527 | 818.1 | 889.3 | 71.2 | 3.55 | |||||
including | 858.1 | 871.1 | 13.0 | 8.87 | |||||
and | 900.8 | 925.2 | 24.4 | 1.70 | |||||
including | 901.8 | 904.8 | 3.0 | 3.97 |
(1) NSI indicates no significant intercept based on a three meter mining width and cut-off grade of 0.51% copper. Drill holes were drilled from level -674 in the
South Extension,
In 2019, a comprehensive exploration campaign targeting the southern limits of the
Results during the period are highlighted by hole FC2974 that intercepted 8.7 meters grading 5.39% copper, including 4.7 meters grading 7.99% copper, and hole FC2977 that intercepted 22.0 meters grading 1.57% copper, including 4.0 meters grading 3.43% copper. These new intercepts, drilled approximately 25 meters apart, demonstrate lateral continuity over 50 meters and vertical continuity of 40 meters and, with prior drilling, continue to provide evidence of high-grade continuity south of known mineralization in the upper levels of the
Please see Figure 4 for a level map showing collar locations of South Extension drilling within the
South Extension Intercepts(1)
Hole ID | From (m) | To (m) | Length (m) | Cu (%) | |||||
FC2974* | 86.0 | 94.7 | 8.7 | 5.39 | |||||
including | 89.0 | 93.7 | 4.7 | 7.99 | |||||
and | 101.8 | 111.3 | 9.5 | 1.15 | |||||
FC2975* | 79.4 | 85.3 | 5.9 | 1.36 | |||||
and | 106.6 | 113.1 | 6.5 | 3.91 | |||||
including | 107.1 | 110.1 | 3.0 | 5.11 | |||||
FC2977* | 96.4 | 103.1 | 6.7 | 1.25 | |||||
and | 118.6 | 140.7 | 22.0 | 1.57 | |||||
including | 123.6 | 127.6 | 4.0 | 3.43 | |||||
FC2980* | 106.6 | 116.6 | 10.0 | 0.88 | |||||
FC2981* | 87.5 | 91.4 | 3.9 | 1.04 | |||||
and | 98.6 | 103.6 | 5.0 | 1.03 | |||||
and | 118.9 | 136.0 | 17.1 | 1.06 |
(1) NSI indicates no significant intercept based on a three meter mining width and cut-off grade of 0.51% copper. Drill holes were drilled from level -170 in the
Vermelhos Mine Extensions
Within the
East Zone Conduit results during the period are highlighted by hole FV-321 that intercepted 24.0 meters grading 0.81% copper, including 4.0 meters grading 1.50% copper, and hole FVS-876 that intercepted 13.5 meters grading 1.24% copper, including 2.0 meters grading 2.53% copper. These intercepts were drilled approximately 475 meters apart. The intercept of hole FVS-876 is located at the same depth, approximately 430 meters north of the existing eastern-most underground infrastructure of the
Ongoing infill drilling within the main
Please see Figure 5 for a plan map detailing all Vermelhos near-mine collar locations, Figure 6 for north-south long section detailing all Vermelhos near-mine drilling.
Vermelhos Intercepts(1)
Hole ID | From (m) | To (m) | Length (m) | Cu (%) | |||||
Vermelhos Mine Orebody Extensions | |||||||||
FVS-1048* | 37.2 | 42.2 | 5.0 | 1.08 | |||||
FVS-1124* | 10.8 | 18.2 | 7.5 | 2.18 | |||||
FVS-1162* | 37.3 | 54.1 | 16.9 | 1.66 | |||||
and | 106.6 | 112.3 | 5.8 | 9.87 | |||||
FVS-1165* | 42.7 | 49.8 | 7.2 | 1.10 | |||||
and | 52.0 | 65.0 | 13.0 | 1.39 | |||||
and | 104.5 | 116.6 | 12.1 | 2.25 | |||||
FVS-1226* | 6.0 | 12.0 | 6.0 | 3.16 | |||||
FVS-1273* | 31.2 | 36.1 | 4.9 | 1.09 | |||||
and | 43.0 | 48.7 | 5.7 | 0.54 | |||||
FVS-1275* | 30.3 | 38.6 | 8.4 | 3.01 | |||||
and | 45.2 | 59.0 | 13.8 | 4.65 | |||||
including | 47.4 | 52.7 | 5.3 | 7.90 | |||||
FVS-1276* | 27.3 | 47.6 | 20.3 | 1.07 | |||||
including | 42.6 | 47.6 | 5.0 | 2.71 | |||||
FVS-1278* | 57.1 | 77.3 | 20.2 | 0.90 | |||||
and | 80.0 | 83.5 | 3.6 | 0.73 | |||||
FVS-1282* | 70.5 | 87.0 | 16.5 | 1.22 | |||||
FVS-1283* | 50.2 | 63.0 | 12.8 | 1.80 | |||||
including | 59.1 | 63.0 | 4.0 | 4.16 | |||||
East Zone Conduit | |||||||||
FV-199 | 277.8 | 294.8 | 17.0 | 0.81 | |||||
and | 322.3 | 339.3 | 17.0 | 0.68 | |||||
and | 342.3 | 348.5 | 6.1 | 0.84 | |||||
FV-301 | 255.0 | 273.0 | 18.0 | 0.85 | |||||
including | 255.0 | 258.0 | 3.0 | 1.57 | |||||
and | 292.2 | 300.2 | 8.0 | 1.91 | |||||
including | 297.2 | 299.2 | 2.0 | 5.09 | |||||
and | 321.3 | 329.3 | 8.0 | 0.94 | |||||
FV-304 | 274.4 | 281.4 | 7.0 | 0.84 | |||||
and | 291.4 | 294.4 | 3.0 | 1.27 | |||||
and | 324.0 | 331.0 | 7.0 | 0.69 | |||||
and | 352.3 | 363.6 | 11.4 | 0.96 | |||||
FV-308 | NSI | NSI | NSI | NSI | |||||
FV-309 | 370.8 | 374.2 | 3.4 | 0.86 | |||||
FV-310 | 332.6 | 336.6 | 4.0 | 0.77 | |||||
and | 388.2 | 393.2 | 5.0 | 0.85 | |||||
and | 423.1 | 430.1 | 7.0 | 0.95 | |||||
FV-311 | 387.1 | 399.5 | 12.4 | 1.36 | |||||
including | 395.1 | 398.5 | 3.4 | 2.16 | |||||
and | 423.1 | 433.0 | 9.9 | 0.40 | |||||
FV-312 | 341.2 | 345.4 | 4.2 | 0.75 | |||||
and | 368.5 | 375.7 | 7.2 | 0.91 | |||||
FV-313 | 359.7 | 362.7 | 3.0 | 1.51 | |||||
FV-321 | 325.5 | 331.5 | 6.0 | 0.76 | |||||
and | 344.2 | 368.1 | 24.0 | 0.81 | |||||
including | 353.1 | 357.1 | 4.0 | 1.50 | |||||
FV-331 | 367.5 | 388.3 | 20.8 | 0.84 | |||||
including | 370.4 | 376.1 | 5.7 | 1.37 | |||||
FVS-876 | 112.2 | 125.7 | 13.5 | 1.24 | |||||
including | 122.3 | 124.3 | 2.0 | 2.53 | |||||
FVS-877 | NSI | NSI | NSI | NSI |
(1) NSI indicates no significant intercept, based on a three meter mining width and a cut-off grade of 0.18% copper for near- surface intervals and 0.51% for intervals below 200 meters down hole. Drill holes were drilled from surface and from level +170, level +165, and level +350 in the
PAST PRODUCING MINE RE-EVALUATION
In late 2020, the Company commenced an exploration program designed to strategically review and re- evaluate known zones of mineralization existing beneath several past producing open pit mines throughout the Curaçá Valley. This program sought to utilize and incorporate new datasets developed during the Company’s regional exploration programs to identify and extend high-grade mineralized envelopes beneath mines that may be suitable for open pit and/or underground mine development. The results of this program continue to demonstrate continuity of high-grade mineralization within Lagoa da Mina, part of the past-producing
Lagoa da Mina,
The past producing open pit
Results during the period are highlighted by hole FLM-94 that intercepted 16.0 meters grading 1.18% copper and 24.0 meters grading 1.54% copper, including 11.0 meters at 2.30% copper. The new high- grade intercept of hole FLM-94 reflects a step-out hole by approximately 250 meters from previously released holes FLM-77 that intercepted 32.2 meters grading 2.69% copper, including 6.0 meters grading 4.00% copper, and FLM-16 that intercepted 15.0 meters grading 3.03% copper, including 4.0 meters grading 4.44% copper. Mineralization remains open down-plunge to the north. Please refer to the Company’s press releases dated
Please see Figure 7 for a plan map detailing Lagoa da Mina collar locations and Figure 8 for a north- south long section.
Q3 2021 Lagoa da Mina Intercepts(1)
Hole ID | From (m) | To (m) | Length (m) | Cu (%) | |||||
FLM-83 | 323.0 | 338.9 | 16.0 | 0.85 | |||||
including | 335.9 | 338.9 | 3.0 | 1.71 | |||||
and | 351.8 | 360.8 | 9.0 | 1.05 | |||||
FLM-84 | 158.8 | 187.5 | 28.8 | 0.71 | |||||
and | 202.7 | 207.5 | 4.8 | 1.46 | |||||
and | 215.7 | 231.5 | 15.9 | 0.87 | |||||
including | 215.7 | 221.5 | 5.8 | 1.33 | |||||
FLM-85 | 308.4 | 341.1 | 32.7 | 0.88 | |||||
including | 334.2 | 341.1 | 6.9 | 1.28 | |||||
FLM-86 | 325.0 | 328.0 | 3.0 | 1.56 | |||||
FLM-87 | NSI | NSI | NSI | NSI | |||||
FLM-88 | NSI | NSI | NSI | NSI | |||||
FLM-89 | 349.3 | 363.7 | 14.4 | 0.73 | |||||
FLM-90 | NSI | NSI | NSI | NSI | |||||
FLM-91 | 262.0 | 269.5 | 7.5 | 1.31 | |||||
FLM-93 | 270.9 | 285.8 | 14.9 | 1.04 | |||||
and | 293.7 | 298.7 | 5.0 | 1.05 | |||||
FLM-94 | 405.8 | 421.8 | 16.0 | 1.18 | |||||
and | 427.8 | 451.8 | 24.0 | 1.54 | |||||
including | 435.8 | 446.8 | 11.0 | 2.30 | |||||
and | 470.8 | 473.8 | 3.0 | 1.41 | |||||
FLM-95 | 363.0 | 366.0 | 3.0 | 1.08 |
(1) NSI indicates no significant intercept, based on a three meter mining width and a cut-off grade of 0.18% copper for regional exploration programs to demonstrate geological controls, irrespective of depth. Drill holes were drilled from surface. Holes not included are either pending assay results, have been included in a different section of this press release, or were included in a prior press release. The length of intercept may not represent the true width of mineralization. Values may not add up due to rounding. From, To and Length are rounded to the nearest tenth of a meter.
REGIONAL EXPLORATION PROGRAM
The Company continues to systematically develop, refine and test its pipeline of regional exploration targets. Progress of the program is excellent, reflecting a multi-year effort to construct a detailed geological database that incorporates airborne geophysics, ground geophysics, and detailed groundwork including soil geochemistry, mapping and trenching. In addition to follow-up work on the previously announced regional systems of C4 and Terra do Sal, both located in the
NX GOLD MINE
Drilling at the
NX Gold In-Mine Programs
Within the
Within the Santo Antonio Vein, results are highlighted by SA94B that intercepted 6.0 meters at 23.61 gpt gold, demonstrating continuity of high-grade gold mineralization to depth. The intercept is located approximately 40 meters south from previously released drill hole SA94A (9.0 meters at 22.66 gpt Au) and approximately 40 meters down-plunge from previously released drill hole SA89 (2.7 meters at 15.38 gpt Au). Additional drilling down-plunge of the deepest known gold mineralization within
Following the
Please see Figure 9 for a plan map detailing
Q3 2021 NX Gold In-Mine Intercepts(1)
Hole ID | From (m) | To (m) | Length (m) | Au (gpt) | ||||
SA94B | 760.7 | 766.7 | 6.0 | 23.61 | ||||
SA99A | NSI | NSI | NSI | NSI | ||||
SA99B | 827.6 | 835.2 | 7.6 | 3.98 | ||||
including | 827.6 | 829.3 | 1.7 | 10.60 | ||||
SA104 | 913.8 | 922.6 | 8.8 | 3.92 | ||||
including | 920.0 | 922.6 | 2.6 | 6.33 | ||||
SA106 | 685.0 | 690.4 | 5.4 | 0.97 | ||||
Matinha Upper Vein | ||||||||
MAT22 | NSI | NSI | NSI | NSI | ||||
MAT22A | NSI | NSI | NSI | NSI | ||||
MAT23 | 483.2 | 483.6 | 0.4 | 61.16 | ||||
MAT24 | 564.8 | 566.2 | 1.5 | 2.71 | ||||
including | 565.3 | 565.8 | 0.5 | 7.85 | ||||
MAT25 | 578.5 | 589.4 | 10.9 | 3.52 | ||||
including | 578.5 | 579.0 | 0.5 | 41.89 | ||||
and | 583.0 | 584.0 | 1.0 | 7.37 | ||||
MAT28 | NSI | NSI | NSI | NSI | ||||
MAT29A | 598.8 | 606.4 | 7.6 | 2.00 | ||||
including | 603.5 | 605.0 | 1.5 | 6.92 | ||||
Matinha Lower Vein | ||||||||
MAT24 | 760.5 | 762.9 | 2.4 | 0.92 | ||||
including | 762.5 | 762.9 | 0.4 | 4.96 | ||||
MAT26 | 668.6 | 670.2 | 1.6 | 8.04 | ||||
MAT27 | 758.8 | 759.9 | 1.1 | 1.43 |
(1) NSI indicates no significant intercept, based on cut-off grade of 1.40 grams per tonne gold. Drill holes were drilled from surface. The length of intercept may not represent the true width of mineralization and reported intercepts reflect the entire thickness of the vein. Values may not add up due to rounding. From, To and Length are rounded to the nearest tenth of a meter. Drill hole intercept for MAT23 reflects new assays that were previously pending.
NX Gold Regional Exploration Program
The first regional exploration campaign on the broader NX Gold land package commenced in early 2021. Results from this program continue to demonstrate that additional gold-bearing quartz veins are prevalent throughout the broader
NOTE ON NI 43-101 COMPLIANT TECHNICAL REPORT(S)
The conversion of drill results presented in this press release into NI 43-101 compliant mineral resources and mineral reserves, including but not limited to the drill results associated with the new and potential extensions of mineralization across each of the mineral districts, including new discoveries and newly identified mineralized systems outlined in this press release, all require additional work and analysis that remains ongoing. To date, there has been insufficient exploration and accompanying analysis to define a mineral resource and it is uncertain if further exploration will result in these extensions being delineated as a mineral resource. Accordingly, the results herein may not be included in future NI 43-101 compliant mineral resources or mineral reserves depending on the results of this additional work and analysis, and other technical and/or economic reasons.
QUALITY ASSURANCE / QUALITY CONTROL
The Company is currently drilling on surface and underground with core drill rigs using a combination of owned and third-party contracted drill rigs. During the period from
The Company is currently drilling on surface with third-party contracted core drill rigs. During the period from
ABOUT
/s/ David Strang | For further information contact: (604) 335-7504 info@erocopper.com |
CAUTION REGARDING FORWARD LOOKING INFORMATION AND STATEMENTS
This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). Forward-looking statements include statements that use forward-looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, statements with respect to the Company's expected operations at the
Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this press release including, without limitation, assumptions about: continued effectiveness of the measures taken by the Company to mitigate the possible impact of COVID-19 on its workforce and operations; favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the production, development and exploration of the Company’s properties and assets; future prices of copper and other metal prices; the timing and results of exploration and drilling programs; the accuracy of any mineral reserve and mineral resource estimates; the geology of the
Furthermore, such forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation the risk factors listed under the heading “Risk Factors” in the Annual Information Form of the Company for the year ended
Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, conditions, results, performance or achievements to differ from those anticipated, estimated or intended.
The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking statements contained herein. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws.
CAUTIONARY NOTES REGARDING MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES
In accordance with applicable Canadian securities regulatory requirements, all mineral reserve and mineral resource estimates of the Company disclosed in this press release have been prepared in accordance with NI 43-101 and are classified in accordance with the
Mineral resources which are not mineral reserves do not have demonstrated economic viability. Pursuant to the CIM Standards, mineral resources have a higher degree of uncertainty than mineral reserves as to their existence as well as their economic and legal feasibility. Inferred mineral resources, when compared with measured or indicated mineral resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Pursuant to NI 43-101, inferred mineral resources may not form the basis of any economic analysis. Accordingly, readers are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral reserve, or is or will ever be economically or legally mineable or recovered.
Figures accompanying this release can be downloaded here:
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Source:
2021 GlobeNewswire, Inc., source