Nexa Reports 2026 First Half Exploration Results
Rhea-AI Summary
Nexa (NYSE: NEXA) reported first-half 2026 exploration results, highlighting brownfield drilling success at the Vazante mine in Brazil and El Porvenir in Peru. Key intercepts include 5.1 meters grading 13.93% Zn, 0.26% Pb and 9.09 g/t Ag at Vazante, and 64.7 meters grading 6.33% Zn, 2.71% Pb, 0.09% Cu, 502.08 g/t Ag and 0.30 g/t Au at El Porvenir, with a higher-grade 19.0-meter sub-interval.
In 1H26, Nexa drilled 123,455 meters, comprising 99,116 meters of infill and 24,339 meters of exploration drilling across Peru and Brazil, including 8,399 meters in early-stage greenfield projects. For 2H26, Nexa plans 40,490 meters of exploration drilling (24,440 meters in Peru and 16,050 meters in Brazil), increasing activity versus the first half. The company has revised its 2026 exploration drilling program to 66,805 meters, up 12% from 59,870 meters, while maintaining its 2026 mineral exploration and project evaluation guidance.
Positive
- 123,455 meters drilled in 1H26, including 24,339 meters of exploration
- High-grade El Porvenir intercept: 64.7m at 6.33% Zn plus strong Pb and Ag
- Vazante intercept: 5.1m at 13.93% Zn with silver credits
- Exploration program for 2026 raised 12% to 66,805 meters
- Planned 2H26 exploration drilling of 40,490 meters, up from 24,339 meters in 1H26
- Early-stage greenfield drilling reached 8,399 meters in 1H26
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 02 | Transaction update | Neutral | +1.3% | Company acknowledged potential discussions regarding Votorantim's interest in Nexa. |
| Jun 25 | Shareholder voting | Positive | +3.1% | Shareholders approved resolutions and a US$17.5 million share premium reimbursement. |
| May 29 | Operations update | Positive | +6.9% | Cajamarquilla operations resumed while sales guidance remained unchanged. |
| May 13 | Fire incident | Negative | +6.4% | Cajamarquilla operations were temporarily suspended following a fire and four injuries. |
| May 06 | Quarterly earnings | Positive | -16.7% | Strong first-quarter earnings and production results preceded a negative 24-hour reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Nexa's recent non-earnings announcements were followed by positive 24-hour reactions, while the May 6 earnings release was followed by a -16.69% reaction.
Key Terms
brownfield drilling technical
infill drilling technical
greenfield exploration technical
mineral resource growth technical
polymetallic technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Brownfield Drilling Advances Priority Targets at Vazante and El Porvenir
Luxembourg, Luxembourg--(Newsfile Corp. - July 28, 2026) - Nexa Resources S.A. (NYSE: NEXA) ("Nexa Resources", "Nexa", or the "Company") is pleased to announce its drilling and assay results for the first half of 2026. This document contains forward-looking statements.
Highlights
Vazante - Conexão Sucuri Norte target: 5.1 meters at
13.93% Zn,0.26% Pb, and 9.09 g/t Ag in drill hole BRBVZEND000107 from 454.2 meters.El Porvenir - Integración target: 64.7 meters at
6.33% Zn,2.71% Pb,0.09% Cu, 502.08 g/t Ag, and 0.30 g/t Au, including 19.0 meters at12.39% Zn,4.39% Pb,0.12% Cu, 494.11 g/t Ag, and 0.49 g/t Au in drill hole PEEPD03147 from 526.8 meters.
Summary
Nexa's 2026 drilling strategy remains focused on three key areas: near-mine expansion, Mineral Resource growth through brownfield and infill drilling, and the advancement of greenfield exploration.
In 1H26, total drilling amounted to 123,455 meters, comprising 99,116 meters of infill drilling and 24,339 meters of exploration drilling. Exploration drilling comprised 19,654 meters in Peru (using 9 rigs) and 4,685 meters in Brazil (using 3 rigs), of which 8,399 meters were dedicated to early-stage greenfield projects.
Exploration drilling focused on testing new targets and expanding known mineralization, while infill drilling aimed to increase geological confidence within existing orebodies.
For the second half of 2026, Nexa plans to execute 40,490 meters of exploration drilling, comprising 24,440 meters in Peru (with ten rigs) and 16,050 meters in Brazil (with six rigs), up from the 24,339 meters completed in the first half of the year, with increased activity in Brazil.
As previously disclosed, Nexa revised its 2026 exploration drilling program to 66,805 meters, up
Commenting on the results, Jones Belther, Senior Vice President of Technical Services & Business Development, stated: "Nexa's exploration activities in the first half of 2026 delivered encouraging results across our core operating districts while continuing to build a diversified pipeline of future growth opportunities. Brownfield drilling at El Porvenir and Vazante returned positive results and further enhanced our understanding of these mineralized systems, supporting the potential for future Mineral Resource growth and mine-life extension. Across the broader portfolio, our geological, geophysical and target generation programs advanced priority targets and deepened our understanding of key mineral systems, supporting the identification of new opportunities for future drilling campaigns. Our exploration strategy remains focused on disciplined Mineral Resource growth, efficient capital allocation, and the generation of long-term value through a high-quality and diversified portfolio."
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 polymetallic producer, with zinc as our main product. We have over 65 years of experience developing and operating mining and smelting assets in Latin America. We currently own and operate five polymetallic mines - four long-life underground (two in the Central Andes region of Peru and two in Brazil, in the states of Minas Gerais and Mato Grosso) and one open-pit mine in the Central Andes region of Peru. We also own and operate three zinc smelters - two in the state of Minas Gerais, Brazil (Três Marias and Juiz de Fora), and one in Lima, Peru (Cajamarquilla), which is the largest zinc smelter in the Americas.
Cautionary Statement on Forward-Looking Statements
This document contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, as well as forward-looking information within the meaning of applicable Canadian securities legislation, including National Instrument 51-102 (collectively, "forward looking statements"). All statements other than statements of historical fact are forward-looking statements. The words "believe", "will", "may", "would", "could", "should", "estimate", "continues", "anticipates", "intends", "plans", "expects", "budget", "scheduled", "forecasts," "targets", "outlook", "guidance", "potential", "project" and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such statements. These factors include, among others, volatility in zinc, copper, lead, silver and gold prices, by-product credits and treatment charges; exchange rate fluctuations, particularly in the Brazilian real and Peruvian sol against the U.S. dollar; availability and cost of critical inputs, including energy, transportation and labor; operational and health, safety and engineering risks inherent to underground and open-pit mining and zinc smelting, including process safety events, equipment failures and fires at smelting facilities; tailings storage facility integrity and management; community opposition, social license disruptions and blockades affecting access to our operations; labor disputes and relations with our workforce and with local communities; cybersecurity incidents and disruptions to information technology systems; execution risk on capital projects, and the risk that capital projects are not completed within expected timelines or budgets; political, regulatory, fiscal and institutional developments in Peru, Brazil and Luxembourg, and broader geopolitical developments, including trade restrictions, tariff changes and policy shifts affecting cross-border commerce, supply chains and capital markets; permitting, environmental regulation, and changes in mining legislation, taxation or government policies; physical climate risk, including the increasing severity and frequency of weather events, and transition risks associated with the global energy transition and decarbonization, including the risk of failing to meet announced sustainability and emissions targets; outbreaks of contagious or infectious diseases, pandemics, or other public health crises; the activities of competitors and global and regional economic conditions; and risks relating to ongoing or future regulatory matters or investigations involving the Company, its operations or customers, and any related impacts on our financial statements. The occurrence of one or more of these factors may materially impact our results of operations and the assumptions underlying our forward-looking statements.
Certain forward-looking statements are based on third-party data and market forecasts, which may not be accurate or current. Nexa does not guarantee such external data and assumes no obligation to update it except as required by law.
Material factors and assumptions on which our forward-looking statements are based include, among others: that demand for our products develops as expected; that customers and counterparties perform their contractual obligations; that operations are not disrupted by mechanical failures, supply constraints, labor disturbances, transportation or utility interruptions or adverse weather; that capital projects are executed within expected timelines and budgets; and that there are no material adverse variations in metal prices, exchange rates, or the cost of energy, supplies or transportation, nor material differences between estimated mineral reserves and mineral resources and actual recovered amounts, beyond those reflected in any specific assumptions disclosed in the materials accompanying this document.
Forward-looking statements speak only as of the date on which they are made, and Nexa undertakes no obligation to update or revise any forward-looking statement, except as required by applicable law.
Further information regarding risks and uncertainties associated with these forward-looking statements, and the assumptions, parameters and methods used to estimate our mineral reserves and mineral resources under National Instruments 43-101, can be found in Nexa's annual report on Form 20-F and in other public disclosures available on the Company's website and filed with the SEC on EDGAR (www.sec.gov), with the Canadian Securities Administrators on SEDAR+ (www.sedarplus.ca).
For further information, please contact:
Investor Relations Team
ir@nexaresources.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306958