Centaurus logs further strong drilling results at Jambreiro

THE DRILL SERGEANT: Centaurus Metals has received encouraging results from the final batch of assays from a recently completed RC in-fill drilling campaign at the company’s Jambreiro iron ore project in Brazil.

Centaurus said the results support the quality and consistency of mineralisation at the project to underpin an imminent JORC Resource upgrade.

According to the company’s managing director Darren Gordon the latest results demonstrate the consistency of widths and grade of mineralisation at Jambreiro, underpinning a solid resource inventory to support the project’s development.

“It’s great to see all the final assays delivered in a timely fashion so that the resource upgrade work can be completed before the end of May,” Gordon said in the company’s announcement to the Australian Securities Exchange.

“We have now completed over 14,000 metres of drilling at Jambreiro which provides great confidence in the Resource base as a platform for completion of the Bankable Feasibility Study.”

 

Jambreiro prospect map with recent results. Source: Company announcement

 

Highlights of the recent results from the Jambreiro project include the following continuous intervals:

–    62.0 metres at 31.8 per cent iron, 3.4 per cent aluminium oxide and 0.03 per cent phosphorous from 37.0 metres;

–    45.0m at 29.4 per cent iron, 3.4 per cent aluminium oxide and 0.04 per cent phosphorous from 83.0m;

–    26.0m at 28.5 per cent iron, 3.5 per cent aluminium oxide and 0.04 per cent phosphorous from 43.0m;

–    24.0m at 47.1 per cent iron, 2.5 per cent aluminium oxide and 0.03 per cent phosphorous from surface; and

–    24.0m at 32.0 per cent iron, 2.6 per cent aluminium oxide and 0.04 per cent phosphorous from 19.0m.

The company said the in-fill drilling program has strengthened its confidence in the resource inventory at Jambreiro and will lead to an upgrade of the resource (mainly in JORC classification) by the end of May.

This new resource will form the basis of the ongoing BFS and marks another milestone on the company’s journey to production, which it anticipates to occur before the end of 2013.