Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Centaurus Metals has identified “outstanding” nickel targets at its Jaguar project, Brazil
  • A maiden diamond drilling program is expected to commence by the end of the month
  • Centaurus Metals’ share price is down 6.67 per cent today, currently sitting at 1.4 cents apiece

Centaurus Metals has identified “outstanding” nickel targets at its Jaguar project, Brazil.

The company has discovered 14 down-hole electromagnetic (DHEM) conductors at the project across a 900 metre strike length. Historical nickel grades recorded in the area go up to 3.31 per cent from 56 metres.

Electromagnetic conductors continue further than the deepest drilling, demonstrating mineralisation is open at depth, according to Centaurus.

“We are very pleased with the way the Jaguar Project is shaping up,” Centaurus Managing Director Darren Gordon said.

An initial diamond drilling program at Jaguar is set to commence by the end of the month which will test the recently discovered electromagnetic plates.

“Centaurus will focus its first round of diamond drilling on further delineating the high-grade semi-massive and massive sulphide zones,” Darren explained.

He continued: “The DHEM re-interpretation work is providing an excellent platform to target these high-grade zones.”

Jaguar has a resource estimate of 40.4 million tonnes at 0.78 per cent nickel for a total of 315,000 tonnes of contained nickel metal.

Centaurus purchased the project last month and has raised $10 million to fund developments onsite.

Centaurus Metals’ share price is down 6.67 per cent today, currently sitting at 1.4 cents apiece, as of 2:46 pm AEST.

CTM by the numbers
More From The Market Herald

" St George Mining (ASX:SGQ) moves to diamond drilling at Paterson

St George Mining (SGQ) has kicked off diamond drilling at its Paterson project in the Pilbara region of Western Australia.
The Market Herald Video

" Maximus Resources (ASX:MXR) continues high-grade gold finds at Wattle Dam

Maximus Resources (ASX:MXR) has continued its high-grade gold finds at the Wattle Dam project in Western…
The Market Herald Video

" Marmota (ASX:MEU) expands Aurora Tank drilling program

Marmota (ASX:MEU) expands its drilling program at the Aurora Tank gold project in South Australia.

" Genmin (ASX:GEN) grows Baniaka resource by 168pc

Genmin (ASX:GEN) reports a significant increase to the mineral resource estimate at its wholly owned Baniaka…