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Ero Copper announces greater than 100% increase in mineral reserves and provides pathway for mill expansion of the Vale do Curaçá Property
VANCOUVER, British Columbia, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Ero Copper Corp. (the “Company”) (TSX: ERO) is pleased to announce the release of its 2019 update
About this update from Ero Copper Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Ero Copper Corp. (the “Company”) (TSX: ERO) is pleased to announce the release of its 2019 updated National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) compliant mineral reserve and resource estimate along with updated life of mine (“LOM”) production, capital and operating cost projections for a flexible and phased plan to return the Caraíba Mill to its original design capacity of 5.5 million tonnes per annum on its 99.6% owned Vale do Curaçá Property (herein referred to as the “Curaçá Valley”) located in Bahia State, Brazil. Highlights of the 2019 mineral reserve and resource estimate include: A 106% increase in Proven and Probable mineral reserves to approximately 38 million tonnes (containing 436,000 tonnes of copper) compared to the Proven and Probable mineral reserves set out in the 2018 Technical Report (as defined below), using the same copper price assumption of US$2.75 per pound; A 69% increase in Measured and Indicated mineral resources to approximately 72 million tonnes (containing approximately 894,000 tonnes of copper), inclusive of mineral reserves, as compared to the Measured and Indicated mineral resources set out in the 2018 Technical Report at the same geological cut-off grades; Updated LOM production plan increasing copper production by approximately 140,000 tonnes of copper as compared to the LOM production plan set out in the 2018 Technical Report; Pathway provided for a low-cost and phased mill expansion to return the mill to its original design capacity of 5.5 million tonnes per annum with a preliminary capital expenditure estimate of US$63 million. Commenting on the update, David Strang, President and CEO stated, “We are very pleased with the 2019 updated mineral resource and reserve estimate. Since acquiring the operations in the Curaçá Valley in 2016, we have continued to significantly grow mineral resources and reserves annually. Including mine depletion, we have added over 500,000 tonnes of contained copper to our measured and indicated resource base since 2017. In addition, our updated LOM plan continues to increase the copper production profile over the prior year. In 2018, we set out a plan to produce approximately 40,000 tonnes of copper annually for the following six years and in 2019, that plan ...