Centaurus Metals (ASX: CTM) has obtained “outstanding” new drill results from ongoing resource growth and development drilling at its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil.
Managing Director, Darren Gordon, said the results are expected to contribute to an increase in the global Mineral Resource Estimate (MRE), due for delivery at the end of September, as well as to upgrade more of the Jaguar MRE into the higher-confidence Measured and Indicated categories in advance of Ore Reserve estimation as part of the DFS.
“The resource development in-fill programme has been our focus for the past six months and continues to demonstrate the consistency and quality of the nickel sulphide mineralisation that sits within the planned open pit limits,” Mr Gordon said.
“We are confident that these results will push the majority of the upcoming MRE into the higher confidence Measured and Indicated Resource categories that will, in turn, underpin a maiden Ore Reserve Estimate for the Definitive Feasibility Study.
“This represents a major step to de-risking the Jaguar Project. “It’s also great to see the existing deposits continuing to grow, with outstanding step-out results of up to 31.7m at 1.61% Ni received from below the current MRE limits at Onça Preta.
“This is further supported by our deepest hole on the project to date, which stepped-off over 120m down-dip targeting DHEM conductor plates. Visual inspection of this step-out hole has confirmed the presence of semi-massive sulphides.
“We are quickly approaching the completion of the current Resource development in-fill drilling programme for the upcoming MRE and, once we do, we will immediately swing the majority of the 15 rigs across to Resource Growth and greenfields discovery drilling – which should make for a very interesting second half of 2022 at Jaguar.”
Resource Growth – Step-out Drilling
While drilling has so far been focused on the in-fill program that is required for the upgrade and development of the Jaguar Resource, two to three rigs have been designated to specifically target resource growth by undertaking step-out drilling at the Onça Preta and Jaguar South Deposits.
The current base of both the Onça Preta and Jaguar South Deposits has now been extended well below the base of the underground operations identified in the May 2021 Jaguar Project Scoping Study, which was already restricted by the base of the March 2021 MRE.
Any new resource tonnes generated by step-out drilling are therefore expected to result in growth of the overall MRE and, in time, contribute to future underground operations.
Onça Preta
The December 2021 Mineral Resource Estimate (MRE) expanded the Onça Preta Deposit to 5.2Mt at 1.52% Ni for more than 78kt of contained nickel. Onça Preta is the highest-grade deposit at the Jaguar Project.
Step-out drilling continues to intersect semi-massive and massive zones of nickel sulphides including 31.7m at 1.61% Ni and 13.5m at 1.26% Ni in JAG-DD-22-263 on section 476885mE and 22.7m at 1.47% Ni in JAG-DD-22-284 on section 476935mE.
Both drill-holes intersected mineralisation below the base of the December 2021 MRE, indicating a likely increase in the MRE due for delivery at the end of September 2022.
Importantly, drill hole JAG-DD-22-375, the deepest hole drilled to date at Onça Preta, has intersected 20m of semi-massive nickel sulphide mineralisation within a broader mineralised intersection a further 50m down-dip from JAGDD-22-263, highlighting the potential for further resource growth.
For further information please visit: https://www.centaurus.com.au
