Centaurus Metals Limited (ASX: CTM) announced that consistent, thick nickel sulphide intersections were returned from the in-fill, extensional, and step-out drilling at the Jaguar South Deposit and Jaguar Central Deposit within the company’s Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil.
Significant hits at the Jaguar South Deposit included 12.9m at 2.95% Ni, 0.14% Cu and 0.07% Co from 31.1m including 4.0m at 4.70% Ni, 0.27% Cu and 0.12% Co from 35.8m; and 18.4m at 1.05% Ni, 0.03% Cu and 0.02% Co from 81.0m.
Highlights from the Jaguar Central Deposit included 32.5m at 1.45% Ni, 0.08% Cu and 0.03% Co from 258.8m including 6.3m at 1.87% Ni, 0.10% Cu and 0.03% Co from 268.2m; and 23.5m at 1.25% Ni, 0.06% Cu and 0.03% Co from 55.0m including 10.0m at 1.73% Ni, 0.09% Cu and 0.03% Co from 55.0m.
The company said that the new assay results highlight the potential for further significant growth of its Mineral Resource inventory.
CTM said that four diamond rigs are on site drilling double-shift with 2-3 additional diamond rigs planned to arrive in May to support the 65,000m of drilling planned for 2021, while a new RC rig is set to arrive on site this week to start drilling the extensive pipeline of greenfields targets on the Project.
The company said that the Jaguar Value-Add Scoping Study is anticipated to be delivered in May 2021.
Exploration drilling activities at Jaguar
The company had recently ramped-up exploration drilling activities at its 100%-owned Jaguar Nickel Sulphide Project.
In March 2021, the Company had updated the JORC 2012 Indicated and Inferred Mineral Resource Estimate to 58.9Mt at 0.96% Ni for 562,600 tonnes of contained nickel.
CTM said that its planned 65,000 metres of diamond and RC drilling across the Jaguar Project are aimed at delivering an updated Mineral Resource in Q4 this year as the foundation for a Pre-Feasibility Study.
The recently completed Jaguar Base Case Scoping Study had considered open pit and underground mining over an initial 10-year mine life, delivering nickel sulphide feed to a 2.7Mtpa conventional nickel flotation plant to produce approximately 20,000 tonnes of recovered nickel metal per year at a low life-of-mine (LOM) C1 operating cost of ~US$2.41/lb.
Centaurus reported that it has now received new assay results from drilling over the last few months, including a number of outstanding new nickel sulphide intercepts from the Jaguar South and Central Deposits.
Outstanding dill results from Jaguar
The company announced that in-pit drilling identified new zones outside current resource at Jaguar South with results including 12.9m at 2.95% Ni; while step-out drilling at Jaguar South and Jaguar Central delivered hits up to 32.5m at 1.45% Ni.
Jaguar South deposit
CTM reported that in-fill, extensional, and step-out drilling at the Jaguar South Deposit returned consistent, thick nickel sulphide intersections, highlighting the extensive nature and quality of the mineralisation at the deposit.
Significant assay results included JAG-DD-21-117: 12.9m at 2.95% Ni, 0.14% Cu and 0.07% Co from 31.1m; including 4.0m at 4.70% Ni, 0.27% Cu and 0.12% Co from 35.8m; JAG-DD-20-106: 55.3m at 0.82% Ni, 0.04% Cu and 0.02% Co from 28.0m; including 16.3m at 1.39% Ni, 0.06% Cu and 0.03% Co from 43.9m; JAG-DD-20-096: 22.6m at 0.89% Ni, 0.06% Cu and 0.02% Co from 40.0m; JAG-DD-20-096: 12.3m at 1.17% Ni, 0.04% Cu and 0.02% Co from 288.0m; JAG-DD-20-097: 3.4m at 3.45% Ni, 0.13% Cu and 0.05% Co from 75.0m; JAG-DD-20-097: 9.2m at 1.45% Ni, 0.07% Cu and 0.02% Co from 243.4m; including 3.0m at 2.94% Ni, 0.12% Cu and 0.03% Co from 246.0m and JAG-DD-20-112: 10.5m at 1.75% Ni, 0.07% Cu and 0.03% Co from 346.5m; including 6.0m at 2.16% Ni, 0.11% Cu and 0.04% Co from 347.3m.
Other important hits included JAG-DD-21-115: 13.3m at 1.45% Ni, 0.05% Cu and 0.03% Co from 223.8m; including 3.8m at 3.19% Ni, 0.13% Cu and 0.06% Co from 227.2m; JAG-DD-20-098: 4.1m at 2.98% Ni, 0.08% Cu and 0.05% Co from 50.3m; JAG-DD-20-102: 2.9m at 3.09% Ni, 0.06% Cu and 0.02% Co from 226.4m; JAG-DD-20-103: 4.1m at 3.28% Ni, 0.10% Cu and 0.06% Co from 114.0m; JAG-DD-20-103: 13.3m at 1.15% Ni, 0.04% Cu and 0.02% Co from 155.7m; including 5.0m at 2.29% Ni, 0.09% Cu and 0.05% Co from 158.5m; JAG-DD-20-103: 16.0m at 0.85% Ni, 0.03% Cu and 0.02% Co from 89.0m; and JAG-DD-20-108: 18.4m at 1.05% Ni, 0.03% Cu and 0.02% Co from 81.0m.
Jaguar Central deposit
The company said that the in-fill and step-out drilling at the Jaguar Central Deposit returned consistent, thick nickel sulphide intersections.
Highlights included JAG-DD-20-113: 32.5m at 1.45% Ni, 0.08% Cu and 0.03% Co from 258.8m; including 6.3m at 1.87% Ni, 0.10% Cu and 0.03% Co from 268.2m; 6.7m at 2.20% Ni, 0.15% Cu and 0.04% Co from 278.8m; JAG-DD-20-107: 23.5m at 1.25% Ni, 0.06% Cu and 0.03% Co from 55.0m; including 10.0m at 1.73% Ni, 0.09% Cu and 0.03% Co from 55.0m; and JAG-DD-20-111: 64.5m at 0.59% Ni, 0.03% Cu and 0.02% Co from 14.0m; including 15.9m at 1.06% Ni, 0.06% Cu and 0.03% Co from 20.3m.
Next stage of resource growth
CTM reported that the new results, many of which are outside of the current Resource limits, will support the Q4 2021 Mineral Resource update that will underpin the Pre-Feasibility Study (PFS) and maiden JORC Ore Reserve Estimate set for completion in Q1 2022.
The Company reported that it will deliver a Value-Added Scoping Study in May that considers the production of nickel sulphate, to supply the growing EV battery market, through the inclusion of a Pressure Oxidation circuit to maximise the value of the nickel concentrate produced from the flotation plant outlined in the Base Case Scoping Study.
Updates and next steps
CTM said that Electro-magnetic (EM) geophysical surveys (DHEM and FLEM) are ongoing, and the in‐fill and extensional drilling within the known deposits to test the continuity of high-grade zones is ongoing. The company noted that resource samples are continuously being sent in batches of 150-300 samples and will be reported once the batches are completed.
Centaurus reported that metallurgical testwork is ongoing and geotechnical and hydrological studies for the proposed tailings facility and waste deposits are being commissioned.
Management comments
Centaurus’ Managing Director Darren Gordon said: “The latest drill results from Jaguar continue to either meet or exceed expectations, providing a very strong foundation for next chapter of growth in the already impressive resource base at the Jaguar Nickel Sulphide Project.”
Image Source: Centaurus Metals Limited