Centaurus Metals (ASX:CTM) has reported its intersection of “extensive copper-gold mineralisation” at its 100% owned Boi Novo project in Brazil.
The company reported hitting two styles of mineralisation – the first high-grade breccia zones, and well as broad zones of disseminated mineralisation.
The revelations came on the back of the company’s maiden drill run – with Centaurus already noting the presence of a BHP copper plant 20km away (and one owned by Vale 35km away.)
The Nelore West prospect produced a 13.4m intersection from 52m downhole “within a broader 37m thick mineralisation zone of stringer to disseminated sulphides.”
Visual observations were relied upon; assays are pending.
Received assays from the Presley prospect saw drills hit brief intersections of low-mid grade copper and trace amounts of gold.
“In addition to the breccia zones, drilling successfully tested bulk tonnage low-grade targets at Nelore West and Nelore
East, intersecting broad zones of disseminated copper-gold mineralisation in holes 1.5km apart along the same target
horizon,” the company wrote on Wednesday.
Grades there looked like 38m @ 0.2% copper; 19m @ 0.18% copper and 10.5m @ 0.15% copper.
Multiple electromag targets remain waiting to be tested. In the meantime, the company has extended its maiden drill campaign, pointing to strong cash reserves to fund such activities.
“Based on the results to date, we have extended the maiden drill campaign at Boi Novo beyond the initial 3,000m by an additional 2,000m with this additional drilling targeted to be completed by the end of the calendar year,” Centaurus chief Darren Gordon said.
“Importantly, while the exploration team continues the Boi Novo program, the project team continues value engineering work at Jaguar, with the outcomes of this work planned for delivery in Q1 2025.”
CTM last traded at 54cps.
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