THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) released a maiden JORC 2012 Indicated and Inferred Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Jaguar nickel sulphide project in the Carajás Mineral Province of northern Brazil.
Centaurus Metals declared the 48 million tonnes at 1.08 per cent nickel for 517,500 tonnes of contained nickel MRE to be an important step towards becoming a globally competitive nickel sulphide producing company.
The maiden MRE includes a large higher-grade component of 20.6 million tonnes grading 1.56 per cent nickel for 321,400 tonnes of contained nickel, forming the cornerstone of the company’s strategy to establish a high-grade, high-margin nickel sulphide project.
“This is a phenomenal starting point confirming Jaguar’s status as a new globally-significant nickel sulphide project,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.
“With a maiden Resource containing more than 500,000 tonnes of nickel, this is already one of the largest near-surface undeveloped nickel sulphide projects in the world and, as a maiden JORC Resource number, we believe it is up there with some of the best initial JORC Resources ever published by an ASX-listed junior.
“Significantly, the Resource also includes a high-grade core grading 1.56 per cent nickel that contains more than 320,000 tonnes of nickel metal, providing an outstanding platform from which to commence scoping and development studies.
“Importantly, around 80 per cent of the nickel tonnes are less than 200 metres from surface, with strong potential to further expand the high-grade Resource through systematic extensional and step-out drilling of the known Jaguar and Onça Preta deposits, all of which remain open at depth.
“Our deepest hole to date extends to a depth of just 300 metres, which in a nickel sulphide context means we’ve only just scratched the surface.
“We also see significant regional potential, with additional drilling planned at the emerging Onça Rosa discovery and across numerous untested adjacent prospects.
“This highlights the potential to add more tonnes and grade to what is an already globally-significant nickel Resource.
“Our drill planning is being driven by DHEM and FLEM surveys, which have been extremely successful so far in targeting the semi-massive and massive sulphide zones.
“In-fill drilling is already in progress with a view to further lifting the proportion of higher-confidence Indicated Resources in the MRE.
“We will also now begin to step-out quite aggressively and test new areas to see how quickly we can add tonnes and potentially make new discoveries both along strike and at depth.
“This multipronged approach should ensure that we can continue to grow the resource as we advance this exceptional project towards development.
“We also expect to complete a Scoping Study and deliver a further Resource upgrade this year, providing shareholders with strong news flow over the coming months.”
TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE