Join our daily newsletter At The Bell to receive exclusive market insights
- Centaurus Metals (CTM) encounters the best intercept to date from its Jaguar Nickel Sulphide Project in Brazil
- The best result comes from the Jaguar South Deposit which intersected up to 4.86 per cent nickel
- Managing Director Darren Gordon believes this intercept is one of the best nickel sulphide results in the world this year
- Five diamond rigs are now onsite to work on resource growth as well as greenfield sites and development drilling
- Centaurus is up 6.41 per cent on the market with shares trading at 83 cents at 11:22 am AEST
Centaurus Metals (CTM) has encountered the best intercept to date from its Jaguar Nickel Sulphide Project in Brazil.
The best result comes from hole JAG-DD-21-151 at the Jaguar South Deposit which intersected 56.1 metres at 2.05 per cent nickel from 206 metres including 17.6 metres at 4.86 per cent nickel from 208 metres.
This intersection lies immediately below the pit limits and the grade and thickness of the mineralisation has the potential to push the pit design deeper.
Further drilling to the west also returned results of 7.2 metres at 2.36 per cent nickel from 133.5 metres at 12.6 metres at 1.25 per cent nickel from 173.4 metres.
The Jaguar South Deposit is currently the biggest deposit at the project with a mineral resource of 18.7 million tonnes at 0.97 per cent nickel for more than 180,000 tonnes of contained nickel.
It spans a strike of more than 650 metres, 20 metres in width and more than 300 metres in depth.
“The new record intercept at Jaguar South has to be one of the best nickel sulphide hits in the world this year and to have this sort of intersection immediately below our planned pit limits indicates how much upside remains in the project,” Managing Director Darren Gordon commented.
“Within the next couple of weeks, we will have eight rigs onsite and this expanded capacity will allow us to work on resources growth and greenfields drilling in conjunction with the development drilling.”
Centaurus was up 6.41 per cent on the market with shares trading at 83 cents at 11:22 am AEST.
