Ero Copper Extends High-Grade Furnas Mineralization, Ahead of Schedule on Vale Earn-In
ERO has more than doubled off its 52-week low of $12.79.
Summary
Ero Copper announced significant new assay results from 24,000 meters of drilling at its Furnas Copper-Gold Project, confirming high-grade continuity and extending mineralization. Key intercepts include 90 meters at 0.74% copper and 0.50 gpt gold, and 45 meters at 0.98% copper and 0.36 gpt gold. This follows the strategic earn-in agreement with Vale announced in March, and Ero is now two years ahead of schedule on completing the required drilling programs for a 60% interest in the project. These results de-risk the Furnas project, indicating a larger and higher-grade resource potential, which is crucial for a mining company's long-term value. The company expects to publish a Pre-Feasibility Study (PFS) in 2027 and award the engineering contract for the PFS and Feasibility Study (FS) in mid-2026.
At the time of this announcement, ERO was trading at $25.82 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $12.79 to $39.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.