Nexa Reports Fourth Quarter 2024 Exploration Results

Core Viewpoint - Nexa Resources reported its fourth quarter and full year exploration results for 2024, highlighting a focus on near-mine expansion, brownfield and infill drilling, and promising greenfield projects [2][3]. Exploration and Drilling Results - Cumulative drilling at the end of Q4 2024 totaled 229,148 meters, consisting of 63,779 meters of exploration drilling and 165,369 meters of mining infill drilling. Exploration drilling fell approximately 8% short of the annual target due to operational challenges and heavy rainfall [3][5]. - In Q4 2024, exploration drilling amounted to 19,121 meters, with 12,910 meters in Peru, 4,937 meters in Brazil, and 1,273 meters in Namibia. This included 7,204 meters for early-stage greenfield projects in Brazil and Peru [3][5]. - For Q1 2025, exploration drilling plans include 7,050 meters in Peru and 6,310 meters in Brazil, totaling 13,360 meters [3]. Achievements and Future Plans - In 2024, the company achieved 92% of its planned drilling activities, completing 63,779 meters out of a target of 69,200 meters. The brownfield exploration programs progressed well, focusing on expanding the portfolio and extending the life of mines [5]. - Significant mineralization was confirmed at various targets, including Orebodies 8B and 8C at Cerro Lindo, the Massaranduba target at Aripuanã, and the Lumiadeira and Sucuri targets at Vazante. Exploration at the Pasco complex also confirmed the expansion of the mineralized zone at the Integración target [5]. - A total of 82,340 meters of drilling is planned for 2025, with 62% allocated to Peru [5]. Company Profile - Nexa is a large-scale, low-cost integrated zinc producer with over 65 years of experience in mining and smelting in Latin America. The company operates five long-life mines and three smelters, with significant production capabilities [6][7]. - In 2024, Nexa was among the top five producers of mined zinc globally and one of the top five metallic zinc producers worldwide, according to Wood Mackenzie [8].