Step-out drilling returns exceptional results including 8.0m at 5.38% Ni at Jaguar South and 30.7m at 1.00% Ni at Onça Preta, from some of the deepest drilling (+400m) completed on the Project to date.

Centaurus Metals (ASX Code: CTM) is pleased to report outstanding new results from ongoing resource growth and development drilling at its 100%-owned JaguarNickelSulphideProjectin the Carajás Mineral Province of northern Brazil. The results are expected to 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.


Highlights

  • Step-out drilling at Jaguar South (JS) and Onça Preta (OP) and extensional drilling at Jaguar Northeast (JNE) continues to deliver strong, consistent results with new assay results including:
    • 8.0m at 5.38% Ni from 442.0m in JAG-DD-21-233 (JS)
    • 30.7m at 1.00% Ni from 446.9m; including 7.1m at 1.24% Ni from 446.9m and 4.4m at 2.16% Ni from 459.5m in JAG-DD-21-226 (OP)
    • 14.3m at 1.29% Ni from 426.0m; including 5.6m at 2.17% Ni from 434.7m in JAG-DD-21-226 (OP)
    • 15.8m at 1.05% Ni from 426.0m; including 6.8m at 1.40% Ni from 435.0m in JAG-DD-21-241 (OP)
    • 15.7m at 1.00% Ni, from 61.0m; including 6.7m at 2.01% Ni from 70.0m in JAG-DD-21-239 (JNE)
    • 16.1m at 0.79% Ni from 245.9m in JAG-DD-21-233 (JS)
    • 9.9m at 1.22% Ni from 420.2m in JAG-DD-21-233 (JS)
    • 8.0m at 1.14% Ni from 458.0m; including 3.1m at 2.04% Ni from 460.0m in JAG-DD-21-241 (OP)
  • In-fill drilling at Jaguar South (JS), Jaguar West (JW), Jaguar Central (JC) and Jaguar Northeast (JNE) delivers consistent results, demonstrating continuity of the mineralisation with new assay results including:
    • 38.5m at 1.14% Ni from 50.5m; including 10.4m at 1.64% Ni from 69.5m in JAG-DD-22-258 (JC)
    • 41.8m at 0.96% Ni from 36.8m; including 8.1m at 2.15% Ni from 40.6m and 6.0m at 1.12% Ni from 64.0m in JAG-DD-22-253 (JC)
    • 29.5m at 0.99% Ni from 170.0m in JAG-DD-21-251 (JS)
    • 16.0m at 1.50% Ni from 19.0m; including 5.7m at 2.19% Ni from 28.0m in JAG-DD-21-240 (JS)
    • 16.7m at 1.78% Ni from 57.5m; including 3.2m at 4.00% Ni from 71.0m in JAG-DD-21-240 (JS)
    • 34.1m at 0.69% Ni from 230.0m; including 4.0m at 2.08% Ni from 230.0m in JAG-DD-21-243 (JNE)
    • 19.4m at 0.67% Ni, from 144.0m; including 4.0m at 1.59% Ni from 149.0m in JAG-DD-21-243 (JNE)
    • 12.2m at 0.95% Ni from 50.9m in JAG-DD-22-255 (JC)
    • 6.6m at 1.99% Ni from 73.5m; including 2.8m at 3.28% Ni from 77.4m in JAG-DD-22-255 (JC)
  • The Jaguar December 2021 Mineral Resource Estimate (MRE), comprising 80.6Mt @ 0.91% Ni for 730,700 tonnes of contained nickel, is already one of the largest nickel sulphide resources held by an ASX-listed company and the largest outside of the majors. Next Mineral Resource update scheduled for Q3 2022.
  • There are currently 14 rigs on site (12 diamond and 2 RC) drilling double shift with the drilling currently focused on upgrading the maximum amount of MRE into the Measured and Indicated categories.
  • Company is well-funded with cash reserves of approximately $75 million.

The results from the current 14-rig drilling program will be incorporated in the next major Mineral Resource update for the Jaguar Project, which is scheduled for Q3 2022.

Centaurus’ Managing Director, Mr Darren Gordon, who is in Brazil for his first visit to site and with the in-country team since the onset of the COVID-19 pandemic, said the Company was continuing to make outstanding progress with the exploration and development of the Jaguar Project.

Click here for the full ASX Release

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.

CTM:AU

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