Hits Significant New Intersections In Step-Out Drilling In Brazil
Centaurus Metals (ASX: CTM) has received more encouraging high-grade intersections from ongoing resource development and extensional drilling at its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil.
The company says the latest results demonstrate the outstanding potential for further growth in its Resource inventory.
Drill-hole JAG-DD-21-151, completed on section 478040mE at Jaguar South, intersected 22.4m of semi-massive and massive nickel sulphide mineralisation from 208.5m down-hole within a broader +40m mineralised zone.
Notably, this intersection is immediately below the current pit limits and the grade and thickness has the potential to push the current open pit design even deeper
Visual observations from site, such as those seen in recent hole JAG-DD-21-151, will drive the Q4 2021 Mineral Resource upgrade and underpin the DFS which is set for completion by the end of 2022.
Managing Director, Darren Gordon, said the latest drilling provided further evidence of the enormous growth potential across multiple deposits at Jaguar, with the results to be incorporated in the next Resource update due in the December quarter.
“Importantly, our recent drilling is providing an outstanding foundation to further increase the already impressive resource base of 58.9Mt at 0.96% Ni for 562,600 tonnes of contained nickel at Jaguar – already one of the largest nickel sulphide resource inventories held outside of the major producers,” he said.
“Our recently completed Value-Add Scoping Study demonstrated that underground operations are economically viable across four of our deposits, which gives us the confidence that the step-out drilling will not only add resource tonnes, but more importantly add tonnes that can become part of future underground operations and build on the current 13-year mine life at Jaguar.
“By the end of the month we expect to have seven diamond rigs and one RC rig on site drilling around the clock to further drive the upgrade of the current resources to Indicated and Measured status for the DFS as well as build on the current global resource and make new greenfields discoveries.
“We look forward to keeping our shareholders up-to-date with results from one of the biggest nickel sulphide exploration programs underway in the world today.”