Centaurus Metals (ASX:CTM) - Managing Director, Darren Gordon
Managing Director, Darren Gordon
Source: Centaurus Metals
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  • Centaurus Metals (CTM) has further reinforced the potential of the Jaguar Project in Brazil
  • The Jaguar South deposit has returned broad, high-grade nickel from drilling which aims to upgrade the mineral resource and complete feasibility studies
  • Survey work has also outlined multiple conductors which extend to more than 270 metres below drilling and CTM plans to undertake follow-up drilling
  • Step-out drilling and survey work is now underway at the Onça Preta (Black Jaguar) deposit
  • Company shares ended the day 3.24 per cent in the red to close at $1.05

Centaurus Metals (CTM) has continued to receive high-grade semi-massive and massive nickel sulphide results from the Jaguar Project in northern Brazil.

A recently completed hole from the deepest step-out drilling undertaken at the Jaguar South deposit intersected 21 metres at 1.25 per cent nickel from 367 metres, including three metres at 5.56 per cent nickel from 369 metres.

Deeper drilling at the project is aimed at finding additional resource tonnes and upgrading existing underground resources into higher confidence resource categories, which is necessary for future ore reserve estimation and feasibility work.

Further, a downhole electromagnetic (DHEM) survey at the deposit produced multiple strong late-time conductor plates, which extend to more than 270 metres below the deepest drilling

The conductor plates also have conductivities of between 900 to 1200 siemens and, at Jaguar, conductor plates with these levels consistently host semi-massive and massive sulphides. They also indicate that the high-grade mineralisation throughout the deposit continues at depth. CTM plans to conduct deeper drilling to test the potential extensions.

Step-out drilling and DHEM surveys are now underway at the Onça Preta (Black Jaguar) deposit where previous drilling has returned 18 metres at 2.19 per cent nickel from 318 metres.

Managing Director Darren Gordon commented on extending the known DHEM conductor plates.

“This bodes well for future resource expansion as conductor plates in this location, with the conductivity strength seen in the DHEM surveys, are known to consistently host semi-massive and massive sulphides,” he said.

“With our exploration team consistently hitting high-grade nickel in areas where we have not drilled before, anticipation is building around upcoming drill testing of some of the deeper targets being outlined by the current DHEM surveys.”

Company shares ended the day 3.24 per cent in the red to close at $1.05.

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