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Resource development and exploration in full swing with nine diamond rigs and one RC rig currently operating on site, and a further four rigs (three diamond and one RC) planned to arrive on site before the end of February.
Centaurus Metals (ASX Code: CTM) is pleased to advise that resource growth and development drilling at its 100%- owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil continues to deliver outstanding results which will underpin further resource growth ahead of the completion of the Definitive Feasibility Study (DFS) and maiden Ore Reserve estimate due for completion by the end of calendar 2022.
- Step-out, extensional and in-fill drilling at Jaguar South (JS), Jaguar West (JW) and Onça Preta (OP) continues to deliver strong, consistent results with new assay results including:
- 40.0m at 1.04% Ni from 74.0m; including 6.5m at 2.04% Ni, from 90.0m and 5.0m at 2.13% Ni from 100.0m in JAG-DD-21-221 (JW)
- 37.3m at 1.11% Ni, from 134.5m; including 6.0m at 2.44% Ni from 160.5m in JAG-DD-21-216 (JW)
- 14.0m at 2.07% Ni from 101.0m; including 5.5m at 3.88% Ni from 105.0m in JAG-DD-21-196 (JS)
- 23.0m at 1.17% Ni from 283.0m, including 8.0m at 2.01% Ni from 298.0m in JAG-DD-21-208 (OP)
- 14.4m at 1.50% Ni, from 502.6m; including 4.4m at 3.41% Ni from 507.0m in JAG-DD-21-223 (JS)
- 24.0m at 0.80% Ni, from 73.0m in JAG-DD-21-216 (JW)
- 14.2m at 0.98% Ni from 388.0m, including 2.7m at 1.93% Ni from 399.5m in JAG-DD-21-219 (OP)
- 13.0m at 1.02% Ni, from 95.0m JAG-DD-21-204 (JS)
- 7.1m at 1.46% Ni from 379.9m, including 4.0m at 2.13% Ni from 382.0m in JAG-DD-21-204 (JS)
- 27.0m at 0.43% Ni from 294.0m in JAG-DD-21-223 (JS)
- 16.0m at 0.65% Ni, from 53.0m in JAG-DD-21-221 (JW)
- 5.0m at 1.14% Ni, from 30.0m in JAG-DD-21-224 (JW)
- 11.5m at 0.74% Ni, from 61.0m in JAG-DD-21-224 (JW)
- The Jaguar December 2021 Mineral Resource Estimate (MRE), comprising 80.6Mt @ 0.91% Ni for 730,700 tonnes of contained nickel, is one of the largest nickel sulphide resources held by an ASX-listed company and the largest outside of the majors.
- New visual logs together with multiple strong, late-time (Ch20+) conductor plates identified in down-hole electromagnetic (DHEM) surveys point to the strong likelihood of more high-grade nickel intersections as step-out drilling continues.
- The Company is well-funded after completing a heavily oversubscribed institutional raise of $75 million.
As a result of the continued run of outstanding results and following the recent highly successful $75 million institutional placement, the Company has committed to a further increase in drilling capacity at Jaguar with a total of 14 rigs expected to be operating at the Project by the end of February.
Centaurus’ Managing Director, Mr Darren Gordon, said exploration and development drilling was back in full swing at Jaguar following a short break for the festive season, paving the way for another year of strong news-flow from the drill bit.
This article includes content from Centaurus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.