- Centaurus Metals (CTM) receives further “strong” results from its Jaguar project in northern Brazil ahead of a planned mineral resource update
- The step-out and infill results returned high grades of nickel sulphides and reportedly showed the continuity of mineralisation within the mineral resource model
- Managing Director Darren Gordon says he is confident the results will support an updated mineral resource estimate (MRE), which is due by the end of October
- The updated MRE will support a maiden ore reserve estimate and definitive feasibility study for the Jaguar project
- Company shares are up 2.08 per cent to trade at 98 cents at 11:57 am AEST
Centaurus Metals (CTM) has reported further “strong” results from drilling at its Jaguar nickel sulphide project in northern Brazil ahead of a planned resource update.
The results come from step-out drilling at the Onça Preta and Jaguar South deposits, which the company said had continued to deliver strong, high-grade results.
Highlighted assays from Onça Preta include 20.8 metres at 1.54 per cent nickel from 415.4 metres including seven metres at 2.71 per cent nickel from 421 metres.
Better results from Jaguar South include 25.2 metres at 0.9 per cent nickel from 506.8 metres including 4.1 metres at 2.2 per cent nickel from 510.4 metres.
The company also announced fresh results from infill drilling completed in July across several deposits, including Jaguar Central North, Jaguar Northeast, Jaguar Central, Jaguar South, Jaguar West and Onça Rosa.
Centaurus said the latest batch of infill drill results demonstrated the continuity of the mineralisation within the current mineral resource model.
Managing Director Darren Gordon said the results had further reinforced the scale and quality of the project.
“We are confident that these results will help push the majority of the upcoming mineral resource estimate update into the higher-confidence measured and indicated resource categories, as well underpin further growth in the global resource number,” Mr Gordon said.
The company said it was initially hoping to deliver an updated MRE for the project by the end of September, but slow assay turnaround times meant the company would likely now only announce the update by the end of October.
The MRE will support a maiden ore reserve estimate and a definitive feasibility study.
Drilling is continuing in the meantime, with a focus on resource growth and discovery.
Centaurus shares were up 2.08 per cent to trade at 98 cents at 11:57 am AEST.