Ero Copper Corp. (NYSE:ERO) is one of the cheap Canadian stocks to buy now. On July 10, Ero Copper announced the completion of its 28,000-meter Phase 1 drill program at the Furnas Copper-Gold Project in Brazil’s Carajás Mineral Province. Initial results from this program show continuity and extend the known limits of high-grade mineralization, particularly in zones identified for future underground mining operations.
Significant intercepts from the Southeast zone include 105 meters at 1.54% copper equivalent (CuEq) in hole FURN-DD-00284 and 75 meters at 1.30% CuEq in hole FURN-DD-00271, with the latter extending mineralization ~70 meters down-dip from previous limits. ~10,000 meters of assay results have been received to date, confirming strong continuity and pushing mineralization to a maximum down-dip depth of 730 meters from surface, with the deposit remaining open.
A technician in a hardhat examining a drill head inside a mining facility.
The previous National Instrument 43-101 (NI 43-101) mineral resource estimate for Furnas was based on an average historical drilling depth of 300 meters (vertical). The Phase 1 drilling focused on both infill drilling to confirm continuity and step-out drilling to extend mineralization. Notably, only one of the 66 holes drilled during this campaign failed to intercept mineralization.
Ero Copper Corp. (NYSE:ERO) is an energy company that explores, develops, and produces mining projects in Brazil.
While we acknowledge the potential of ERO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.