Centaurus Metals (ASX: CTM | OTCQX: CTTZF) has announced the discovery of multiple iron-oxide copper-gold (IOCG) targets at its 100% owned Boi Novo Copper-Gold Project in Brazil. The project, part of Centaurus’ Horizon II business development and growth strategy, covers 35km2 of highly prospective ground in the world-renowned Carajás Mineral Province.
The Boi Novo Project is strategically located just 30km from Parauapebas, the regional centre of the Carajás, and less than 20km from BHP’s Antas Norte copper flotation plant. The Carajás hosts the world’s largest known concentration of large-tonnage IOCG deposits, almost all of which are found in the Itacaiúnas Supergroup.
Initial exploration fieldwork has identified four distinct prospect areas with +500ppm copper-in-soil anomalies along 12km of discontinuous strike, coincident with Drone Magnetics (DMAG) anomalies. Within these broader anomalies are discrete contiguous zones of +1,000ppm copper-in-soil anomalies, extending over more than 1.5km of strike. Rock chip sampling has returned maximum results of 2.24% Cu and 0.57g/t Au.
Centaurus’ in-house geophysical survey team plans to carry out a Fixed-Loop Electromagnetic (FLEM) survey immediately, targeting accumulations of massive and semi-massive sulphides. Geophysical contractors will start an Induced Polarization (IP) survey early in the new year. Land access agreements are already in place, with water and drilling licences to be obtained to allow for a maiden drill program to start in Q1 2024.
Centaurus’ managing director, Mr Darren Gordon, expressed excitement about the initial exploration fieldwork results from the Boi Novo Copper-Gold Project, elevating it as a near-term growth opportunity for the Company. He stated, “Initial greenfields exploration on our strategically located Boi Novo Project has identified multiple outstanding IOCG targets that we will aim to have ready for drilling in Q1 2024.”
The company remains well-funded to carry out the low-cost Boi Novo exploration and maiden drill programme in parallel with ongoing pre-development and financing activities ahead of a Final Investment Decision (FID) for the flagship Jaguar Nickel Sulphide Project.
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