Centaurus Metals drills high-grade iron at Candonga

THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) has reported, high‐grade results from the latest drilling at the company’s 100 per cent‐owned Candonga iron ore project, located 33 kilometres from its flagship Jambreiro iron ore project in Minas Gerais, Brazil.

 

Candonga project location map. Source: Company announcement

 

The results will be included in the maiden JORC resource estimate for Candonga which is on track to be delivered later this month.

The latest results include intersections of high‐grade, near‐surface mineralisation Centaurus believes to demonstrate Candonga has the potential to provide a source of high‐grade coarse grained friable itabirite to the Jambreiro project.

Highlights of the recent RC drilling results from Candonga include:

–    32 metres at 48.5 per cent iron, 1.4 per cent aluminium oxide and 0.08 per cent phosphorous from surface;

–     27m at 38.6 per cent iron, 1.3 per cent aluminium oxide and 0.05 per cent phosphorous from surface;

–    23m at 39.4 per cent iron, 4.9 per cent aluminium oxide and 0.09 per cent phosphorous from surface;

–     18m at 46.9 per cent iron, 0.8 per cent aluminium oxide and 0.05 per cent phosphorous from 7m;

–    5m at 59.1 per cent iron, 0.6 per cent aluminium oxide and 0.07 per cent phosphorous from 17.0m;

–    13m at 47.8 per cent iron, 4.1 per cent aluminium oxide and 0.04 per cent phosphorous from surface; and

–    12m at 45.3 per cent iron, 1.3 per cent aluminium oxide and 0.07 per cent phosphorous from 44m.

The company has now planned a small program of diamond drilling to provide the samples necessary to undertake detailed beneficiation testwork.

Centaurus expects the Candonga mineralisation will be able to be upgraded to a high-grade, low impurity product using a similar process flowsheet to the one that will be utilised at Jambreiro.

The company said the latest drilling results provided more evidence Candonga was shaping up as another significant satellite project alongside the Canavial project.

“The maiden resource for Candonga due by the end of this month will include these new results and should give us a good indication of the scale and potential of the deposit,” Centaurus Metals managing director Darren Gordon said in the compnay’s announcement to the Australian Securities Exchange.

“Both Candonga and Canavial represent very attractive regional growth opportunities for us once Jambreiro is up and running, with the potential to increase our production profile or extend the life of our operations.”