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- Centaurus Minerals (CTM) has delivered a mineral resource upgrade for its Jaguar Nickel Sulphide Project in Brazil
- The exploration play is now thought to contain 58.6 million tonnes at 0.95 per cent nickel for 557,800 tonnes of contained nickel
- Of that estimate, 40 per cent of the resource is now classified as indicated
- Promisingly, nickel mineralisation at the Brazilian project also remains open at depth and along strike, meaning there’s potential to further increase the mineral resource
- The company has an intensive work program lined up at Jaguar over 2021’s first half, including extensional drilling and surveying for future greenfield targets
- CTM is on track to submit two crucial applications in 2021’s second quarter
- At the end of last year, Centaurus had $24 million in the bank, which it believes is enough to drive exploration and development work at Jaguar over 2021
- Centaurus shares climbed 2.35 per cent higher on today’s news, trading at 87 cents
Centaurus Minerals (CTM) has delivered a mineral resource (MRE) upgrade for its Jaguar Nickel Sulphide Project in Brazil.
The exploration play, spanning 30 square kilometres, is now thought to contain 58.6 million tonnes at 0.95 per cent nickel for 557,800 tonnes of contained nickel.
Of that estimate, 40 per cent of the resource is now classified as indicated. That means Jaguar’s indicated resource estimate has jumped 50 per cent to 19.9 million tonnes at 1.12 per cent nickel for 223,400 tonnes of contained nickel.
Promisingly, over 80 per cent of Jaguar’s contained nickel sits no more than 200 metres below the surface — according to Centaurus, that makes the project a unique development opportunity.
Nickel mineralisation at the Brazilian project also remains open at depth and along strike, meaning there’s potential to further increase the mineral resource.
The explorer has a significant work program lined up in 2021’s first half. Four drilling rigs are already at the project, completing in-fill and extensional drilling. Centaurus has plans to mobilise extra rigs in the second quarter in a bid to test deeper, high-grade underground targets at Jaguar.
In the meantime, CTM’s team will continue mapping, soil sampling and surveying to identify future greenfield targets. The company has also flagged pre-feasibility level metallurgical and development studies are on the horizon.
Finally, Centaurus is gearing up to deliver two crucial applications next quarter. The company says its updated mining lease application and environmental licence application are progressing on schedule.
“In addition to achieving our primary goal of upgrading the indicated resource by 50 per cent, which has significantly de-risked the project ahead of the upcoming scoping study, we have also achieved a further increase in the global MRE,” Centaurus’ Managing Director, Darren Gordon, commented today.
“This reinforces the quality of the Jaguar Project as a globally significant, near-surface nickel sulphide deposit with outstanding potential for continued growth. It is also a fitting reward for the efforts of our exploration team, who have done a great job in advancing our drill programs over the past six months,” he continued,
At the end of last year, Centaurus had $24 million in the bank, which it believes is enough to drive exploration and development work at Jaguar over 2021.
Centaurus shares climbed 2.35 per cent higher on today’s news, trading at 87 cents at 12:53 pm AEDT.
