Centaurus expands DSO potential at Candonga

THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) claims to have confirmed potential for high‐grade Direct Ship Ore (DSO) mineralisation at the company’s new Candonga West DSO iron ore project in south‐east Brazil.

The claims come after the completion of a ground magnetic survey, which Centaurus said had verified the location of a number of targets identified during a surface mapping program.

The company said the survey had also identified new sub‐surface anomalies it considers to be prospective for high‐grade DSO mineralisation.

The Candonga West project is located eight kilometres from Centaurus’ 100 per cent-owned Candonga DSO project, where first production is planned for Q2 2015.

 

Candonga project location map. Source: Company announcement

 

The company hopes it can either expand or extend the mine life of its proposed 300,000 tonnes per annum Candonga DSO operation.

Centaurus has commenced an auger drill program at Candonga West and is also investigating options for a gravity (density) survey, which it hopes will produce an accurate 3D model to assist with future diamond and RC drill‐hole targeting.

“The information from the magnetic surveys and ground mapping has helped us to refine drill targets and design a drill program for the first quarter of next year that will allow us to define initial JORC-compliant Mineral Resources at Candonga West,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.

“As we move towards the development of an efficient, small‐scale 300,000 tonnes per annum DSO operation at Candonga with very low capital and operating costs, we are clearly demonstrating a longer term growth path for the company at Candonga West, which has the potential to emerge as a second complementary production hub.”

Email: office@centaurus.com.au

Website: www.centaurus.com.au