Ero Announces Result of Year-Long Value-Creation Initiative at Xavantina, Commences First Gold Concentrate Sales in Q4 2025
Executive Summary
- Ero Copper released a NI 43‑101 compliant update for the Xavantina Operations, adding a maiden inferred resource of ~29 kt (≈29,000 oz) of high‑grade gold concentrate from stockpile sampling.
- Total measured & indicated resources now total 664 koz (81 koz measured + 583 koz indicated) and inferred resources stand at 365 koz; proven & probable reserves are 448 koz.
- The company began commercial shipments of gold concentrate in October 2025, delivering ~3,000 t and targeting 10‑15 kt for Q4 2025, with net payability of 90‑95% and operating costs of $300‑$500 per ounce.
Key Details
- Stockpile Sampling: ~20 % of a 60,000 m³ stockpile sampled; inferred resource of ~29,000 oz (24,000 t @ 37.4 g/t Au).
- Gold Concentrate Shipments: Initial shipment of ~3,000 t in Oct 2025; Q4 2025 target shipments of 10‑15 kt.
- Sales Contract Terms: Net payability (pre‑streaming) 90‑95% of gross revenue, dependent on concentrate grade, destination port, and gold price; operating costs $300‑$500/oz.
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Resource & Reserve Summary (effective 30 Jun 2025):
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Proven Reserve: 221 kt @ 6.48 g/t Au = 46.1 koz
- Probable Reserve: 1,793 kt @ 6.98 g/t Au = 402.5 koz
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Total Reserves (P+P): 2,014 kt @ 6.93 g/t Au = 448.6 koz
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Measured Resource: 312 kt @ 8.05 g/t Au = 80.8 koz
- Indicated Resource: 1,949 kt @ 8.75 g/t Au = 548.2 koz
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Total Measured & Indicated: 2,261 kt @ 8.65 g/t Au = 628.9 koz
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Inferred Resources (Xavantina): 1,166 kt @ 9.75 g/t Au = 365.4 koz
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Gold Concentrate Inferred Resource: 24 kt @ 37.41 g/t Au = 29.3 koz
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Exploration Update: Ongoing infill drilling and engineering studies in Q4 2025 to upgrade extensions of mineralization and support planned underground expansion after recent mechanisation.
- Economic Assumptions: Gold price $2,100/oz for reserve calculations; USD/BRL 5.50 exchange rate; mining cost assumptions US$107/t ore, cut‑off 1.46 g/t Au.
- Technical Verification: Estimates prepared and verified by Mr. Cid Gonçalves Monteiro Filho, SME RM, qualified person under NI 43‑101.
- Future Filings: Full NI 43‑101 technical report to be filed on SEDAR and EDGAR within 45 days of this release.
Notable Quotes
“We are extremely proud of the work we are doing at Xavantina to extend mine life, enhance safety, improve productivity, and pursue multiple studies aimed at increasing total production for years to come,” – Makko DeFilippo, CEO.
“The successful mechanization of the Xavantina Operations and the start of gold concentrate sales… represent incredibly rewarding achievements.” – Makko DeFilippo, CEO.