Centaurus Metals’ (ASX: CTM) ongoing Resource development and extensional drilling at its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil has delivered the best drill intersection from the project to date.
Drill hole JAG-DD-21-151 intersected 56.1m at 2.05% Ni from 206.0m, including 17.6m at 4.86% Nifrom 208m, immediately below the current planned open pit limits.
Centaurus’ Managing Director,cDarren Gordon, said the record intersection from drill hole JAG-DD-21-151 demonstrated the enormous growth potential of the Jaguar Project, with the current phase of step-out drilling and regional exploration still in its early stages.
“It’s pretty remarkable to be able to report our best intercept to date – a stunning 56.1m at 2.05% Ni including 17.6m at 4.86% Ni – even after drilling over 300 holes into the Project and delivering a globally significant resource of more than 560,000 tonnes of contained nickel. The key message for investors is that this is a project that is continuing to grow – and grow quickly, both from resource development drilling and step-out and regional exploration,” he said.
“The new record intercept at Jaguar South has to be one of the best nickel sulphide hits in the world this year and to have this sort of intersection immediately below our planned pit limits indicates how much upside remains in the Project.
“Within the next couple of weeks, we will have eight rigs on site and this expanded capacity will allow us to work on resource growth and greenfields drilling in conjunction with the development drilling. This multi-pronged approach sets us up for what should be a big second half of project growth at Jaguar.
“Jaguar is already a standout project in terms of scale and quality amongst undeveloped nickel sulphide projects worldwide and at the planned nickel production rate of +20,000tpa, Centaurus will become a global Top 10 nickel sulphide producer. The fact that Jaguar stands to grow a lot more can only further enhance its credentials as a potential source of clean, low-emission nickel sulphides to meet surging global demand as the world moves rapidly to embrace electrification and decarbonisation.”
In March 2021, the Company delivered an updated JORC 2012 Indicated and Inferred Mineral Resource Estimate (MRE) for the Jaguar Project totalling 58.9Mt at 0.96% Ni for 562,600 tonnes of contained nickel.
Jaguar South is currently the biggest deposit at the Jaguar Project, hosting a Mineral Resource of 18.7Mt at 0.97% Nifor more than 180kt of contained nickel, including an Indicated component of 7.4Mt at 1.19% Ni for 87kt of contained nickel.
Hosted in a mylonitised sub-volcanic porphyritic dacite, Jaguar South extends over a strike length of more than 650m and comprises continuous sub-vertical veins and semi-massive to massive breccia zones that can be up to 20m wide and extend from surface to more than 300m depth. The mineralisation remains open at depth and along strike in both directions.
Drill-hole JAG-DD-21-151, completed on section 478040mE at Jaguar South as part of the resource development in-fill program, has now returned the best interval from the project to date, intersecting 56.1m at 2.05% Ni including 17.6m at 4.86% Ni. This intersection is located immediately below the current pit limits and the grade and thickness has outstanding potential to push the current open pit design even deeper.
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