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Centaurus Metals (ASX:CTM) - Managing Director & CEO, Darren Gordon
Managing Director & CEO, Darren Gordon
Source: 121 Mining Investment Events
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  • Centaurus Metals (CTM) has received outstanding high-grade nickel sulphide results from diamond drilling at the Jaguar Central and Jaguar North deposits
  • These deposits are part of the Jaguar Nickel Sulphide Project in the Carajás Mineral Province of Brazil
  • Results have returned consistent thick and shallow high-grade nickel sulphides
  • Additionally, final results from recent drilling at Jaguar South have extended the known mineralisation 100 metres to the west
  • All assays will be incorporated in the upcoming maiden JORC resource estimate, which is due to be completed at the end of this month
  • Company shares are up a healthy 16.7 per cent and are trading for 31.5 cents each

Centaurus Metals (CTM) has received outstanding high-grade nickel sulphide intercepts from diamond drilling at the Jaguar Central and Jaguar North deposits.

These deposits are part of Centaurus’ wholly-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of Brazil.

Jaguar Central

Hosted in a strongly-sheared felsic sub-volcanic rock, Jaguar Central is located northwest of Jaguar South.

Mineralisation occurs over 800 metres of strike, with multiple zones of stringer to semi-massive and massive sulphide up to 30 metres wide. Centaurus says this extends from surface to more than 300 metres at depth.

At this deposit, the company focused on a 400-metre portion to target near-surface, high-grade mineralisation.

New assays include; 40.5 metres at 1.35 per cent nickel, 0.09 per cent copper and 0.03 per cent cobalt from 20 metres, including 12 metres at 1.95 per cent nickel, 0.15 per cent copper and 0.04 per cent cobalt from 38.5 metres, 4.9 metres at 0.98 per cent nickel, 0.05 per cent copper and 0.04 per cent cobalt from 66.5 metres; two metres at 4.57 per cent nickel, 0.11 per cent copper and 0.10 per cent cobalt from 41 metres.

Results from two holes have demonstrated the continuity of thick, fresh nickel sulphides intersected from near-surface.

One rig continues to drill at Jaguar Central and is focused on in-filling and extending the strike length of the shallow, high-grade mineralisation. Simultaneously, the company is carrying out various surveys on new and historic deeper holes for further step-out drilling.

Jaguar North

The Jaguar North deposit occurs over 400 metres of strike with multiple zones of stringer to semi-massive and massive sulphides up to 25 metres wide. These extend from surface to more than 250 metres in depth and remains open.

Highlighted assays include; 26.8 metres at 1.21 per cent nickel, 0.13 per cent copper and 0.04 per cent cobalt from 84.3 metres, including 10.8 metres at 2.10 per cent nickel, 0.15 per cent copper and 0.06 per cent cobalt from 84.3 metres, and 3.6 metres at 4.24 per cent nickel, 0.49 per cent copper and 0.16 per cent cobalt from 50.7 metres.

“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,” Managing Director Darren Gordon said.

Two drill holes at this deposit have also demonstrated the continuity of thick, fresh nickel sulphides intercepted from near-surface. Importantly, these drill holes will be included in the upcoming JORC estimate.

Like Jaguar Central, Centaurus is undertaking downhole electromagnetic (DHEM) and fixed-loop electromagnetic (FLEM) surveys.

The new results from Jaguar Central and Jaguar North will be included in the upcoming maiden JORC mineral resource estimate, which is due to be completed by the end of this month.

“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,” Darren stated.

Jaguar South

Assays from the final in-fill and extensional drilling program at Jaguar South have also been received and will be included in the upcoming JORC resource estimate.

Highlights include; 10.8 metres at 1.42 per cent nickel, 0.04 per cent copper and 0.04 per cent cobalt from 54.0 metres; including 6.3 metres at 2.23 per cent nickel, 0.06 per cent copper and 0.05 per cent cobalt from 54.0 metres, and 2.1 metres at 2.55 per cent nickel, 0.07 per cent copper and 0.08 per cent cobalt from 130.9 metres.

These results have extended the strike length at Jaguar South to more than 600 metres.

Company shares are up a healthy 16.7 per cent and are trading for 31.5 cents each at 10:54 am AEST.

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