Luxembourg, Luxembourg--(Newsfile Corp. - February 11, 2025) - Nexa Resources S.A. (NYSE: NEXA) ("Nexa Resources", "Nexa", or "Company") is pleased to provide today the drilling and assay results from the fourth quarter and full year of 2024. This document contains forward-looking statements.
Summary
Nexa's 2024 drilling strategy focused on near-mine expansion, brownfield and infill drilling, and the exploration of promising greenfield projects.
At the end of the fourth quarter, cumulative drilling totaled 229,148 meters, comprising 63,779 meters of exploration drilling and 165,369 meters of mining infill drilling. Exploration drilling fell approximately 8% short of the annual target, primarily due to operational challenges at Aripuanã and Vazante, as well as heavy rainfall at Cerro Lindo. In 4Q24, exploration drilling totaled 19,121 meters, with 12,910 meters completed in Peru (with eight rigs), 4,937 meters in Brazil (with six rigs), and 1,273 meters in Namibia (with one rig). This includes 7,204 meters dedicated to early-stage greenfield projects in Brazil and Peru. For 1Q25, exploration drilling plans include 7,050 meters in Peru (with six rigs) and 6,310 meters in Brazil (also with six rigs), totaling 13,360 meters.
Highlights
- Cerro Lindo, Orebody 8B: 4.65 meters at 2.89% Zn, 0.79% Pb, 0.08% Cu, and 41.7 g/t Ag in drill hole PECLD07657 from 718.2 meters.
- Aripuanã, Massaranduba target: 10.1 meters at 8.04% Zn, 1.95% Pb, 0.28% Cu, 45.16g/t Ag and 0.15g/t Au in drill hole BRAPD000201 from 458.0 meters.
- Vazante, Sucuri target: 4.7 meters at 15.18% Zn, 0.19% Pb, and 30.12g/t Ag in drill hole MVZMV420P14170D18 from 208.7 meters.
- El Porvenir, Integración target: 28.7 meters at 3.07% Zn, 1.60% Pb, 0.11% Cu, 91.97 g/t Ag, and 0.87 g/t Au in drill hole PEEPD02857 from 333.6 meters.
Commenting on the report, Jones Belther, Senior Vice President of Technical Services & Business Development, stated: "During 2024, we achieved 92% of our planned drilling activities, completing 63,779 meters of exploration drilling out of the planned 69,200 meters. Our brownfield exploration programs progressed well, focusing on expanding our portfolio and aiming at future extension of the life of our mines. At Cerro Lindo, drilling confirmed the depth and continuity of mineralization in Orebodies 8B and 8C. At Aripuanã, exploration of the Massaranduba target, located 3 km southeast of Babaçu, confirmed significant intercepts and continuity of mineralization. At Vazante, results validated mineralization at the Lumiadeira target and confirmed extensions at the Sucuri target. Additionally, at our Pasco complex, exploration continues to confirm the expansion of the mineralized zone at the Integración target. In 2025 a total of 82,340 meters of drilling is planned, of which 62% will be allocated in Peru."
For a full version of this document, please go to our Investor Relations website at: https://ri.nexaresources.com/.
About Nexa
Nexa is a large-scale, low-cost integrated zinc producer with over 65 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five long-life mines, three of which are located in the central Andes region of Peru, and two of which are located in Brazil (one in the state of Minas Gerais and one in the state of Mato Grosso). Nexa also currently owns and operates three smelters, two of which are located in the state of Minas Gerais in Brazil, and one of which is Cajamarquilla located in Lima, Peru, which is the largest smelter in the Americas.
Nexa was among the top five producers of mined zinc globally in 2024 and one of the top five metallic zinc producers worldwide in 2024, according to Wood Mackenzie.
Cautionary Statement on Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to in this news release as "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. The words "believe," "will," "may," "may have," "would," "estimate," "continues," "anticipates," "intends," "plans," "expects," "budget," "scheduled," "forecasts" and similar words are intended to identify estimates and forward-looking statements. Forward-looking statements are not guarantees and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of NEXA to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments may be substantially different from the expectations described in the forward-looking statements for a number of reasons, many of which are not under our control, among them, the activities of our competition, the future global economic situation, weather conditions, market prices and conditions, exchange rates, and operational and financial risks. The unexpected occurrence of one or more of the abovementioned events may significantly change the results of our operations on which we have based our estimates and forward-looking statements.
Our estimates and forward-looking statements may also be influenced by, among others, legal, political, environmental or other risks that could materially affect the potential development of our projects, including risks related to outbreaks of contagious diseases or health crises impacting overall economic activity regionally or globally, as well as risks relating to ongoing or future investigations by local authorities with respect to our business and operations and the conduct of our customers, including the impact to our financial statements regarding the resolution of any such matters.
Our estimates and forward-looking statements may also be influenced by regulatory changes in the countries where we operate, including new trade restrictions, tariff escalations, and policy shifts affecting cross-border commerce and supply chains. Certain forward-looking statements are based on third-party data, market forecasts, and assumptions that may be subject to change. Nexa does not guarantee the accuracy of such external data and disclaims any obligation to update these statements unless required by law.
These forward-looking statements related to future events or future performance and include current estimates, predictions, forecasts, beliefs and statements as to management's expectations with respect to, but not limited to, the business and operations of the Company and mining production our growth strategy, the impact of applicable laws and regulations, future zinc and other metal prices, smelting sales, CAPEX, expenses related to exploration and project evaluation, estimation of mineral reserves and/or mineral resources, mine life and our financial liquidity.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable and appropriate by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies and may prove to be incorrect. Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, full integration of mining and smelting operations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labor disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in metal prices, exchange rates, or the cost of energy, supplies or transportation, among other assumptions.
We assume no obligation to update forward-looking statements except as required under securities laws. Estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward-looking statements. Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our public disclosures filed under our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov).
For further information, please contact:
Investor Relations Team
ir@nexaresources.com
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