Centaurus Metals (ASX: CTM) has secured possession of a further key piece of land covering its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil following the completion of a new Possession Agreement.
This latest agreement, which follows the first two properties secured in March and April this year, covers an area of approximately 533 hectares of pasture land and provides further security of land possession for the long-term benefit of the Jaguar Project.
Importantly, the new agreement covers the land where the proposed Jaguar flotation and nickel sulphate production facility is to be located.
Together with the land secured earlier in the year, the company now has possession rights and access to over 2,000 hectares of land at Jaguar. Securing full possession rights to the key properties de-risks the company’s development pathway at Jaguar.
The possession rights under this latest agreement have been secured for total consideration of R$10.4 million (~A$2.5 million), with the consideration to be paid in instalments over the next two years. An upfront consideration of R$5.0 million (~A$1.2 million) has now been paid.
The land payments have been budgeted for as part of planned Feasibility Study activities. From an exploration perspective, eight diamond rigs are now operating on site continuing to drill both in-fill and step-out extensional holes at the Project that will underpin the next resource upgrade, planned and on schedule for December 2021.
Presently, a single RC rig continues to drill the extensive suite of greenfields targets identified across the tenement area.
For further information please visit: https://www.centaurus.com.au/