Positive Scoping Study Drives the Jaguar Nickel Project Towards the Clean-Energy Future
Centaurus Metals Limited (ASX: CTM) is an ASX-listed exploration company focused on the development of the advanced Jaguar Nickel Sulphide Project, located in the world-class Carajás Mineral Province in Brazil. This is one of the world’s premier mining addresses, hosting one of the world’s biggest concentrations of large-tonnage mineral deposits. Centaurus completed the acquisition of the Jaguar Project from global mining giant Vale S. A. in April 2020 and has rapidly confirmed the project’s status as a globally significant future source of Class-1 nickel sulphide supply, undertaking a major drilling program, which culminated in the delivery of an updated Mineral Resource Estimate of 58.9Mt grading 0.96% Ni for 562,600t of contained nickel, as of March 2021.
The Base Case Scoping Study released in March 2021 considered open pit and underground mining for an initial 10-year mine life, delivering nickel sulphide feed to a 2.7Mtpa conventional nickel flotation plant to produce approximately 20,000 tonnes of recovered nickel metal per year at a LOM C1 operating cost of ~US$2.41/lb.
The Company continues its aggressive resource growth and greenfields drilling campaigns with 4 diamond rigs on site and an RC rig arriving in April, new discoveries are targeted for the coming quarters.
Centaurus also hold the development-ready Jambreiro Iron Ore Project.
- Nickel focus – Sustainable high-grade nickel sulphide asset leveraged to strong longterm Class 1 nickel market outlook
- Favourable infrastructure rich project location – the world-class Carajás Mineral Province
- Globally Significant Maiden JORC Resource – 58.9Mt at 0.96% Ni for 562,600 tonnes of contained nickel including Indicated component of 20.1Mt at 1.12% Ni for 225,800t of contained nickel
- Base Case Scoping Study considers a conventional flotation plant to treat 2.7Mtpa with Mill Feed of 24.0Mt @ 1.08% Ni for 260,300t of contained nickel to produce more than 20,000 tonnes per annum of nickel in concentrate over an initial mine life of 10 years
- Low capital (US$178 million), low operating costs (US$2.41/lb), low CO2 emissions
- Strong returns: Post‐tax NPV8 of ~AS$604 million (US$453 million) with a post-tax IRR of ~54%
- Two land acquisition agreements completed – significant de-risking step for the potential future development of the Jaguar Project
- Resource and Greenfields growth – deposits open at depth and along strike with outstanding potential for resource growth with further drilling (in-fill and step-out drilling underway); multiple greenfields prospects with walk-up drill targets (65km of drilling in 2021)
- Well funded – $19.7 million in cash as at 31 March 2021, with $4.8 million to be received by end of May from ITM options