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Centaurus Metals Declares Maiden Resources at Jaguar

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

 

Email: office@centaurus.com.au

Web: www.centaurus.com.au

 

Centaurus Metals Hits Thick Nickel Sulphide at Jaguar Central and North

THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) recently completed diamond drilling at the Jaguar Central and Jaguar North deposits, part of the company’s 100 per cent-owned Jaguar nickel sulphide project in the Carajás Mineral Province of Brazil.

Centaurus Metals reported the drilling had returned “outstanding” broad high-grade nickel sulphide intercepts from shallow depths.

Results from first two drill holes at Jaguar Central returned consistent thick and shallow high-grade nickel sulphide intersections, including:

JAG-DD-20-042
40.5m at 1.35 per cent nickel, 0.09 per cent copper and 0.03 per cent cobalt from 20m, including 12m at 1.95 per cent nickel, 0.15 per cent copper and 0.04 per cent cobalt from 38.5m

JAG-DD-20-047
2m at 4.57 per cent nickel, 0.11 per cent copper and 0.1 per cent cobalt from 41m and 67.3m at 1.2 per cent nickel, 0.08 per cent copper and 0.03 per cent cobalt from 67m, including 19m at 1.7 per cent nickel, 0.13 per cent copper and 0.04 per cent cobalt from 79.8m

The first three drill holes at Jaguar North also returned consistent thick and shallow high-grade nickel sulphide intersections, including:

JAG-DD-20-046
26.8m at 1.21 per cent nickel, 0.13 per cent copper and 0.04 per cent cobalt from 84.3m, including 10.8m at 2.1 per cent nickel, 0.15 per cent copper and 0.06 per cent cobalt from 84.3m

JAG-DD-20-048
12m at 1.81 per cent nickel, 0.44 per cent copper and 0.08 per cent cobalt from 79m, including 4.5m at 3.66 per cent nickel, 0.63 per cent copper and 0.17 per cent cobalt from 86.5m

JAG-DD-20-050
28.5m at 1.44 per cent nickel, 0.13 per cent copper and 0.05 per cent cobalt from 29.1m, including 3.6m at 3.55 per cent nickel, 0.49 per cent copper and 0.16 per cent cobalt from 50.7m

“It’s quite rare to see such consistent grades and widths across so many shallow deposits which would be amenable to extraction via open pit mining, before possibly moving underground in the future,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.

“These important attributes put Jaguar in a league of its own as a nickel sulphide development proposition and reinforce why we see it as a company-making project.

“Importantly, these results also show that our targeting method has been very successful in allowing us to infill and often extend the high-grade zones delineated in previous wide-spaced drilling by Vale.

“This targeting method has proven to be successful at Jaguar South, Onça Preta and Onça Rosa and now we are having the same success at Jaguar Central and Jaguar North.

“The shallow zones of mineralisation delineated by this drilling and the historical Vale holes into Jaguar Central and Jaguar North will be incorporated in the upcoming maiden Mineral Resource estimate.

“In the meantime, we will continue to evaluate the deeper potential – which we think is just as exciting.

“Down-hole geophysics on the new drill holes has consistently identified strong conductor plates below the deepest drilling, indicating significant potential for more semi-massive to massive sulphides at depth.

“This potential will be systematically tested in the months ahead.

“With all of the drilling required to deliver our maiden Mineral Resource now complete, two rigs are continuing to operate at Jaguar Central and Jaguar North to test down-dip extensions of the deposits.

“Additionally, a regional field team has commenced mapping, soil sampling and FLEM survey work to generate a pipeline of new regional targets on the western portion of the land package which we will be aiming to start drilling in the next two to three months.”

 

Email: office@centaurus.com.au

Web: www.centaurus.com.au

 

Centaurus Metals Delivers Further Strong Results From Jaguar Nickel Project

THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) reported new drilling results from the company’s 100 per cent-owned Jaguar nickel sulphide project in the Carajás Mineral Province of Brazil.

Centaurus Metals said the recent drilling has continued to demonstrate the consistency of high-grade shallow semi-massive to massive nickel sulphide mineralisation at the Onça Preta deposit and Onça Rosa prospect.

At the Onça Preta deposit, recently completed Resource in-fill and extensional drilling consistently intersected thick semi-massive nickel sulphides near surface.

A shallow high-grade zone has been extended to over 150m of strike, with assay results confirming strong potential for a high-grade open pit, including:

JAG-DD-20-025
4.7 metres at 2.26 per cent nickel from 49.6m; and

JAG-DD-20-027
6.4m at 1.34 per cent nickel from 93m.

At the Onça Rosa prospect, new drilling intersected semi-massive to massive sulphides, including:

JAG-DD-20-043
3.6m at 2.38 per cent nickel from 271.7m, including 1.9m at 4.28 per cent nickel from 271.7m; and

JAG-DD-20-038
3.9m at 3.19 per cent nickel from 14m.

Centaurus Metals claimed the deeper intersection confirms the continuity of high-grade mineralisation 45m along strike from historical drilling and its own recent results.

“Results from Onça Preta continue to demonstrate the consistency of grade across the deposit,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.

“We have now extended the strike length of the shallow, high-grade mineralisation to over 150 metres centred on the outstanding intercept of 14.9 metres at 2.94 per cent nickel from 56.8 metres reported earlier this year – underlining the potential for a low-strip, open pit start-up operation.

“And, just as importantly, as we drill deeper, we continue to intersect high-grade mineralisation where we interpret it to be, with great results including 26.2 metres at 1.42 per cent nickel from 220 metres.

“One of the unique things about Jaguar is the near-surface, high-grade potential across a number of deposits and the flexibility that this can bring to a project.

“To date, we have identified multiple open pittable start-up options including Onça Preta and Jaguar South, where we intersected 21.8 metres at 2.65 per cent nickel from just 22 metres.

“We are also confident that we will intersect further shallow mineralisation at Jaguar Central and Jaguar North deposits, where drilling has just started following up some historical shallow high-grade intersections.

“Beyond the resource drilling we have also been working up our Onça Rosa prospect and this is starting to take shape.

“Our recent drilling success has extended the strike of the high-grade mineralisation to over 100 metres and strong EM plates modelled from DHEM surveys indicate that the mineralisation extends down-dip at least another 150 metres below existing drilling, which included intersections of 7.9 metres at 5.27 per cent nickel and 9.3 metres at 3.13 per cent nickel from around 250 metres depth.

“These EM plates will be drill tested once extensional and in-fill resource drilling at Jaguar Central and North is finished.

“The company remains well funded and is on target to deliver its maiden JORC Mineral Resource Estimate for the Jaguar project by the end of June.”

 

Email: office@centaurus.com.au

Web: www.centaurus.com.au

 

Centaurus Metals Making Positive Metallurgical Progress at Jaguar

THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) received further encouraging metallurgical test work results from the company’s Jaguar nickel sulphide project in northern Brazil.

Centaurus Metals recently completed test work on a new composite of ore sampled from the Onça Preta deposit that returned a 16 per cent nickel concentrate grade with a nickel recovery of 81.8 per cent.

The company explained that the composite had a head grade of 1.53 per cent nickel and was taken from four drill holes across the Onça Preta deposit, which is located in the north of the project area.

Centaurus is pleased with the current progress being made with the metallurgical test work program with recent results complementing the design concepts the company has developed for the project, which is based on a smaller, high-grade project using industry-standard flotation techniques, rather than the original project design concepts of previous owner Vale.

“The continued strong recoveries we are achieving in developing a processing route for the project remain around 25 per cent better than those previously delivered in other studies,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.

“If we are able to maintain this excellent trajectory, it will ultimately have a significant positive impact on future project economics.

“These results – coupled with the continued success of our high-grade in-fill and extensional drilling program – are key to developing a robust high-grade nickel operation at Jaguar, leveraging off the project’s other competitive advantages in terms of the shallow, high-grade nature of the mineralisation and its proximity to low-cost power and an engaged labour force and infrastructure in a premier mining jurisdiction.”

 

Email: office@centaurus.com.au

Web: www.centaurus.com.au