Centaurus Metals

Jaguar Powering Towards Q3 Resource Upgrade as Drilling Continues to Deliver Strong Results

Visual logs1 from the deepest drill-holes completed to date show semi-massive nickel sulphide mineralisation well below the December 2021 Mineral Resource Estimate (MRE) envelope

Centaurus Metals (ASX Code: CTM) is pleased to report 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.


  • Step-out drilling at Onça Preta (OP) continues to deliver strong, consistent results with new assays including:
    • 31.7m at 1.61% Ni from 369.4m including 5.6m at 4.34% Ni from 374.9m in JAG-DD-22-263 (OP)
    • 22.7m at 1.47% Ni from 383.3m including 6.4m at 2.49% Ni from 386.6m in JAG-DD-22-284 (OP)
    • 13.5m at 1.26% Ni from 406.6m including 3.7m at 2.23% Ni from 411.2m in JAG-DD-22-263 (OP)
    • 14.1m at 0.96% Ni from 475.1m in JAG-DD-22-263 (OP)
    • 6.7m at 1.55% Ni from 406.3m in JAG-DD-22-267 (OP)
    • 3.7m at 3.00% Ni from 235.0m in JAG-DD-22-300 (OP)
  • Further significant results received from ongoing in-fill drilling at the Jaguar Central (JC), Jaguar Central North (JCN), Jaguar Northeast (JNE) and Jaguar South (JS) deposits, demonstrating the continuity of the mineralisation within the current Mineral Resource model. New assay results include:
    • 50.6m at 0.63% Ni from 110.0m including 7.2m at 1.87% Ni from 145.8m in JAG-DD-22-289 (JC)
    • 28.8m at 0.97% Ni from 8.2m including 9.1m at 1.49% Ni from 10.3m in JAG-DD-22-303 (JCN)
    • 15.4m at 1.50% Ni from 112.2m including 2.4m at 5.76% Ni from 121.9m in JAG-DD-22-270 (JS)
    • 30.0m at 0.72% Ni from 82.1m in JAG-DD-22-278 (JNE)
    • 15.6m at 1.16% Ni from 66.5m including 6.7m at 2.17% Ni from 66.5m in JAG-DD-22-293 (JNE)
    • 30.5m at 0.49% Ni from 268.0m in JAG-DD-22-291 (JCN)
    • 19.0m at 0.77% Ni from 304.5m JAG-DD-22-291 (JCN)
    • 22.3m at 0.67% Ni from 318.9m in JAG-DD-22-268 (JCN)
    • 17.9m at 0.71% Ni from 121.5m in JAG-DD-22-278 (JNE)
    • 9.8m at 1.10% Ni from 59.0m including 2.1m at 3.56% Ni from 63.6m in JAG-DD-22-292 (JS)
  • The Jaguar December 2021 MRE, comprising 80.6Mt @ 0.91% Ni for 730,700t of contained nickel, is already one of the largest nickel sulphide resources held by an ASX-listed company and the largest outside of the majors.
  • There are currently 15 rigs on site (13 diamond and two RC) drilling double-shift. Resource development drilling is nearing completion with the rigs set to move to Resource growth and discovery drilling.
  • Centaurus is well-funded with cash reserves of approximately A$60 million.

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.

Centaurus’ Managing Director, Mr Darren Gordon, said: “The resource development in-fill program 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.

“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 program 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, 2-3 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 (Figure 1). 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-22-3752, 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 JAG- DD-22-263, highlighting the potential for further resource growth. For photos of the core and visual estimates of hole JAG-DD-22-375, see Figure 10 and Table 3.


Click here for the full ASX Release

This article includes content from Centaurus Metals (ASX Code: CTM), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

CTM:AU
The Conversation (0)
FPX Nickel (TSXV:FPX)

FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) ("FPX" or the "Company") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project ("Baptiste" or the "Project"). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne, FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

Keep reading...Show less
Nickel bars in front of a world map.

Top 9 Nickel-producing Countries

The top nickel producing countries list has been shaken in recent years by Indonesia's rapid rise to the top, beating the Philippines and New Caledonia.

Demand for nickel is mounting. Stainless steel accounts for the vast majority of nickel demand, but electric vehicle (EV) batteries represent a growing application for the base metal as the shift toward a greener future gains steam.

But while nickel's long-term outlook appears bright, it may face headwinds in the short term. Nickel prices have been trending down since breaking US$20,000 per metric ton in May 2024 as weak usage coincides with strong output from top producer Indonesia.

Keep reading...Show less
Ni-Co Energy

Ni-Co Energy Set to Mobilize Critical Minerals Exploration just 90 km from Montreal

Ni-Co Energy Inc. announces that its technical team will be mobilized to the Kremer property around mid-June 2025. The project is located approximately 90 km north of downtown Montreal and about 15 km from the nearest municipality, in a remote forested area with access via an existing road and close proximity to the hydroelectric grid.

Meet The Team:

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less

Latest Press Releases

Related News

×