Maiden Brazil drilling returns strong results for Centaurus

THE DRILL SERGEANT: Centaurus Metals has completed a maiden drilling program on the Fittipaldi prospect at its Serra da Lontra iron ore project in south-east Brazil, which has returned significant widths and grades of iron mineralisation.
 

The company expects Serra da Lontra, located 110 kilometres from the export port of Ilhéus in the State of Bahia, Brazil to become the cornerstone of an Export Hub alongside the company’s domestic iron ore business based around the Jambreiro project in the State of Minas Gerais.

 

Location map showing infrastructure in the immediate locality of Serra da Lontra. Source: Company announcement

Centaurus has completed a total of 2,900 metres of drilling at Serra da Lontra (1,600m of diamond and 1,300m of RC drilling), out of a planned 7,500m drilling program, which has been designed to support a maiden JORC resource estimate for the project.

“We are very pleased with these early results, which have given us significant confidence in the potential of this Project to underpin our export strategy in Brazil,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.

“Our focus will be to progress the drilling, in parallel with ongoing geotechnical drilling at Jambreiro, as the basis for a maiden JORC resource at Serra da Lontra which we are confident of delivering in July this year.”

Highlights of the first drill results include:

34 metres at 36.6 per cent iron, 8.4 per cent aluminium oxide and 0.05 per cent phosphorous from surface;

15m at 36.6 per cent iron, 2.2 per cent aluminium oxide and 0.06 per cent phosphorous from 7m and 25m at 33.4 per cent iron, 2.4 per cent aluminium oxide and 0.06 per cent phosphorous from 59m;

21m at 33.9 per cent iron, 6.8 per cent aluminium oxide and 0.06 per cent phosphorous from surface and 10m at 34.3 per cent iron, 5.6 per cent aluminium oxide and 0.07 per cent phosphorous from 25m;

25m at 32.0 per cent iron, 2.0 per cent aluminium oxide and 0.07 per cent phosphorous from 61m;

23.2m at 32.5 per cent iron, 1.2 per cent aluminium oxide and 0.08 per cent phosphorous from 11m;

31.7m at 34.2 per cent iron, 4.7 per cent aluminium oxide and 0.06 per cent phosphorous from surface;

27m at 34.3 per cent iron, 3.2 per cent aluminium oxide and 0.08 per cent phosphorous from 28m; and

11.5m at 41.6 per cent iron, 3.2 per cent aluminium oxide and 0.05 per cent phosphorous from surface and 18.8m at 34.0 per cent iron, 1.2 per cent aluminium oxide and 0.08 per cent phosphorous from 19.8m.

Centaurus said the drilling provided strong support for its Exploration Target of 30 to 50 million tonnes grading 30 to 40 per cent iron for the Serra da Lontra project.

As drilling at the Fittipaldi prospect nears completion, the company will be moving one of the contracted diamond rigs to Jambreiro to commence the geotechnical drilling required as part of the Jambreiro Bankable Feasibility Study.