Centaurus Metals (ASX:CTM) - Chair, Didier Murcia
Chair, Didier Murcia
Source: Centaurus Metals
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  • Centaurus Metals (CTM) further highlights the outstanding potential of its Jaguar Nickel Sulphide Project in Brazil
  • The company is drilling 65,000 metres across four deposits to upgrade Jaguar’s 58.9 million tonne resource by the end of this year
  • Drilling results continue to return high-grade nickel intersections and extend mineralisation, reinforcing the “robust nature” of the resource model
  • An upgraded mineral resource will contribute to a longer mine life and position Centaurus to become a global top-10 nickel sulphide producer
  • Company shares were up 4.84 per cent to trade at 97.5 cents at 11:10 am AEST

Centaurus Metals (CTM) has received more high-grade semi-massive and massive nickel sulphide results from the Jaguar Project in Brazil.

The company is targeting a 65,000-metre drilling program across four deposits within the nickel sulphide project to upgrade and expand its mineral resource.

Latest step-out results from Jaguar South include 16 metres at 1.32 per cent nickel from 363.4 metres including 6.8 metres at 2.29 per cent nickel from 366.4 metres, five metres at 2.56 per cent nickel from 26.5 metres and 9.7 metres at 1.21 per cent nickel from 52.9 metres, including three metres at 2.18 per cent nickel from 58 metres.

Strike extension drilling at Jaguar Central outlined a 60-metre extension to the east of the resource limits and confirmed the Jaguar Central high-grade shoot continues.

Best results include 14.4 metres at 1.1 per cent nickel from 297 metres including three metres at 2.2 per cent nickel from 300 metres.

Further, infill drilling at the Jaguar West and Jaguar Central North deposits have highlighted the consistency of mineralisation and the “robust nature” of the existing resource model.

Latest and best results include 16.5 metres at 0.92 per cent nickel from 160.1 metres including 1.8 metres at 3.55 per cent nickel from 174.7 metres, and 4.7 metres at 1.69 per cent nickel from 118.3 metres, including two metres at 3.22 per cent nickel from 121 metres.

Managing Director Darren Gordon said the results clearly indicated the opportunity to further expand Jaguar’s significant resource.

“We expect that any new resources or extensions delineated at the four deposits that already have planned underground operations are likely to be picked up in the next round of stope optimisations and therefore brought rapidly into the mine plan,” Mr Gordon said. “This is important as these additional resources can either contribute to a longer mine life or a reassessment of the planned production rate.

“Jaguar is already a standout project in terms of scale and quality among undeveloped nickel sulphide projects worldwide and, at the planned nickel production rate of over 20,000 tonnes per annum, Centaurus is firmly on track to become a global top-10 nickel sulphide producer.”

As it stands, the Jaguar Project has an indicated and inferred mineral resource estimate of 58.9 million tonnes at 0.96 per cent nickel for 562,000 tonnes of contained nickel. Centaurus expects to upgrade this by the end of this year.

Company shares were up 4.84 per cent to trade at 97.5 cents at 11:10 am AEST.

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