Centaurus Metals (ASX: CTM) has further confirmed the enormous scale of the Jaguar Nickel Project in Brazil with new work on a Definitive Feasibility Study (DFS) and project development initiatives.
“The Jaguar Project is continuing to reveal its world-class credentials with each package of work that we complete,” Managing Director, Darren Gordon, said.
“With in-fill drilling now complete and a significant amount of work already well advanced for the Definitive Feasibility Study, the broader project development is now really beginning to gather speed.
“What is continuing to shine through at Jaguar is the sheer scale of the Project. It is not too often in a mining project that you get to develop a mine plan where the open pits are likely to extend over 3km along strike, be up to 1km wide and extend to depths of over 300 metres while still maintaining a low strip ratio of approximately 7.5:1.
“Given the increased scale of the Project and COVID-related delays in starting the pilot testwork program, we have agreed with Ausenco that the DFS will now be targeted for delivery at the end of March 2023, rather than the end of 2022 as originally conceived. This will provide additional time to complete all the DFS work to a very high standard, without compromising the overall delivery schedule for the Project.
“We are still targeting a Final Investment Decision at the end of Q3 2023, once all environmental approvals have been secured, paving the way for us to deliver the world’s next significant green nickel project.”
MRE Update
The December 2021 Mineral Resource Estimate (MRE) comprises 80.6Mt @ 0.91% Ni for 730,700t of contained nickel, with the Indicated component of the Resource being 43.4Mt @ 0.92% Ni for 397,000t of contained nickel, representing 54% of the Global MRE.
The company has now completed Resource development in-fill drilling across all the Jaguar and Onca Deposits at the Jaguar Project.
Drilling was designed to upgrade all Resources within a constrained US$22,000/t nickel price pit shell limit into the higher- confidence Indicated category. Further in-fill drilling to upgrade Indicated Resources into Measured has also been completed to provide additional confidence in the MRE that will underpin the early stages of mining and nickel production.
The in-fill drill results continue to support the current geological model and demonstrate the continuity of the mineralisation both down-dip and along strike.
The company is targeting more than 500,000t of contained nickel in the Measured and Indicated categories of the next MRE, planned for the end of Q3 2022, which will underpin the Jaguar Project Definitive Feasibility Study (DFS) and initial Ore Reserve Estimate.
With the completion of the in-fill drilling, the drill rigs have now moved to Resource growth focused step-out and extensional drilling as well as new discovery greenfields drilling.
For further information please visit: https://www.centaurus.com.au/
