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 found shallow high-grade intercepts at its Jaguar South Deposit in Brazil
  • The high-grade intercepts include 37.7 meters at 2.11 per cent nickel and 21.8 meters at 2.65 per cent nickel
  • Managing Director Darren Gordon told the market that the latest batch of assays included some of the best drilling results generated from the project so far
  • Jaguar South has now extended its strike length to over 600 meters at a vertical depth of 300 meters
  • Centaurus Metals is up 30.8 per cent on the market today, trading for 17¢ per share

Centaurus Metals (CTM) has found shallow high-grade intercepts at its Jaguar South Deposit.

The Jaguar South Deposit is located within the Jaguar Nickel Sulphide Project in Brazil.

The high-grade intercepts include 37.7 meters at 2.11 per cent nickel and 21.8 meters at 2.65 per cent nickel.

Managing Director Darren Gordon told the market that the latest batch of assays included some of the best drilling results generated from the project so far.

“There are very few high-grade nickel sulphide deposits globally that start so close to surface and offer the opportunity for open pit mining of high-quality mineralisation from just 20-30 metres depth,” he said.

“This highlights the unique opportunity that we have in front of us at Jaguar and the very exciting opportunity that is now rapidly taking shape,” he added.

Jaguar South has now extended its strike length to over 600 meters at a vertical depth of 300 meters.

These new results are similar to what Centaurus saw at the Onça Preta Deposit.

“These results are comparable to what we saw at Onça Preta Deposit, where we intersected 14.9 meters at 2.94 per cent of nickel including a high-grade core of almost 10 meters at over 4.0 per cent of nickel from just 57 meters,” Darren explained.

“It is great to see that we have multiple high-grade, low strip opportunities, across the Project and this bodes extremely well for the future development of the Jaguar Project as an initial open pit and longer-term underground operation,” he said.

Delayed Results

Due to the COVID-19 lockdown imposed by the Peru Government, the ASL laboratory in Lima has not been able to receive or process assays, including ones from Jaguar.

Therefore, there have been delays in receiving results. Jaguar sample batches that were stuck in Lima at the time of the lockdown have now been sent to Vancouver.

Results from Onça Preta and Onça Rosa are now expected in the coming weeks.

Centaurus Metals is up 30.8 per cent on the market today, trading for 17¢ per share at 12:16 pm AEST.

CTM by the numbers
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