- Centaurus Metals (CTM) has reported more positive nickel results from the Jaguar Central Deposit at its Jaguar Project in northern Brazil
- Recent drilling at Jaguar intersected further thick semi-massive to massive nickel sulphides at the project
- The deposit has continued to impress Centaurus since it announced its maiden JORC-compliant mineral resource estimate (MRE) in June
- That MRE already accounts for over half a million tonnes of contained nickel at the Jaguar Project
- Now, Centaurus is already targeting a resource upgrade, with nearly $25 million on hand to support an update as CTM prepares to release a scoping study early next year
- On the market today, Centaurus is down 0.88 per cent, trading for 56 cents per share
Centaurus Metals (CTM) has reported further high-grade nickel sulphide results at its Jaguar Nickel Sulphide Project in northern Brazil.
Specifically, the company has received results from its in-fill, extensional and step-out drilling program at the Jaguar Central Deposit.
Recent drilling has intersected significant wide zones of high-grade mineralisation at the deposit.
Results include 47.1 metres at 1.37 per cent nickel, 0.08 per cent copper and 0.03 per cent cobalt from 65.9 metres, including 13.1 metres at 2.34 per cent nickel, 0.15 per cent copper and 0.05 per cent cobalt from 65.9 metres.
In June, the company released its 2020 JORC mineral resource estimate (MRE) of 48 million tonnes at 1.08 per cent nickel for 517,500 tonnes of contained nickel.
Since then, the Jaguar Central Deposit has delivered consistent thick semi-massive to massive nickel sulphides intersections and remains open at depth and along strike to the east.
Managing Director Darren Gordon said the recent drilling shows the potential of the Jaguar deposit.
"Much of the recent successful drilling at Jaguar Central sits outside the existing mineral resource and we remain confident that we should be able to lift the overall Jaguar Central contribution to the MRE as part of the resource upgrade due in early 2021," he said.
"We believe that the intersections generated from drilling at Jaguar Central over the last couple of months represent some of the best near-surface nickel sulphide intersections seen in the market for some time and the results continue to support our view that the Jaguar Project is well on its way to being one of the few nickel sulphide projects to be developed over the next two to three years," he added.
Currently, there are four diamond rigs on-site targeting the Jaguar South and the Onça Rosa deposits. In-fill drilling for the JORC MRE is nearly finished, with the company targeting completion in early 2021.
Centaurus has nearly $25 million on hand to support an MRE update as it prepares to release a scoping study early next year.
On the market today, Centaurus is down 0.88 per cent and is trading for 56 cents per share at 12:34 pm AEDT.