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- Centaurus Metals (CTM) makes a significant new discovery at the Tigre Prospect in Brazil
- To date, 11 holes have been drilled under the company’s maiden drill program with work intersecting significant percentages of sulphide mineralisation
- The sulphide mineralisation covers a strike spanning more than 700 metres and a thickness of up to 10 metres
- Further RC drilling has been planned along the 800-metre strike towards the nearby Dente de Sabre Prospect
- Centaurus is up 10.3 per cent on the market with shares trading at $1.08 at 3:45 pm AEST
Centaurus Metals (CTM) has made a significant new discovery at the Tigre Prospect in Brazil.
The Tigre Prospect is part of the Jaguar Nickel Sulphide Project which lies in the western portion of the world-class Carajás Mineral Province.
It spans an area of 30 square kilometres and has a mineral resource estimate of 58.9 million tonnes at 0.96 per cent nickel and 562,600 tonnes of contained nickel.
The Tigre Prospect has at least 700 metres of prospective strike represented by a strong ground magnetic and airborne electromagnetic (GeoTem) anomaly coincident with a fixed-loop electromagnetic (FLEM) conductor plate.
Centaurus’s maiden reverse circulation (RC) drilling program focused on the FLEM plate with 11 holes, for 1494 metres, drilled to date.
The holes so far have returned multiple intersections of biotite-magnetite alteration with significant percentages of sulphide mineralisation.
Two holes were then drilled at the western limit of Tigre and intersected up to nine metres of nickel sulphide mineralisation.
The RC drilling has intersected nickel sulphide mineralisation over a strike spanning more than 700 metres and a thickness of up to 10 metres.
Onsite scans of the chips and core have confirmed high-grade nickel in the sulphide mineralisation.
Selected holes from Tigre are being cased and will be subject to down-hole electromagnetic (DHEM) surveys once the probe becomes available.
Further RC drilling has been planned along the 800-metre strike towards the nearby Dente de Sabre Prospect.
The Dente de Sabre Prospect is high-priority and is associated with multiple ground magnetic anomalies and a discrete GeoTem anomaly.
Soil sampling has identified nickel and chromium anomalies, and drilling is set to begin by the end of the month.
Leão Prospect
A total of 20 RC holes, for 3057 metres, were drilled at the Leão Prospect with work identifying a new mineralised zone with a strike of at least 200 metres.
Best results include six metres at 0.81 per cent nickel, 0.04 per cent copper and 0.02 per cent cobalt from 105 metres; and two metres at 0.47 per cent nickel, 0.05 per cent copper and 0.02 per cent cobalt from 76 metres.
Mineralisation remains open along strike and down-dip.
Selected holes have also been cased and will be subject to DHEM surveys before further drilling begins.
Managing Director Darren Gordon said this drilling program had indicated early success at Tigre.
“The visual results are very encouraging and demonstrate the enormous prospectivity outside the known deposits, highlighting the opportunity to further expand the already significant resource inventory at Jaguar,” Mr Gordon commented.
“There is almost 100,000 metres of drilling within the known jaguar Deposit limits with less than 5000 metres of drilling covering the rest of the tenement.”
“The fact that we have encountered significant new mineralisation so early in the program speaks volumes for this potential.”
Centaurus was up 10.3 per cent on the market with shares trading at $1.08 at 3:45 pm AEST.
