Just months after acquiring the Jaguar nickel sulphide project from Vale, Centaurus Metals (ASX: CTM) has reported high-grade exploration results including 67.3m at 1.20% Ni and 40.5m at 1.35% Ni from the project.
The company announced that the results from the first two drill holes at Jaguar Central have returned consistent thick and shallow high-grade nickel sulphide intersections. Significant hits include 40.5m at 1.35% Ni, 0.09% Cu and 0.03% Co from 20.0m; and 67.3m at 1.20% Ni, 0.08% Cu and 0.03% Co from 67.0m.
CTM announced that the first three drill holes at Jaguar North have also returned consistent thick and shallow high-grade nickel sulphide intersections. Highlights include 26.8m at 1.21% Ni, 0.13% Cu and 0.04% Co from 84.3m; and 28.5m at 1.44% Ni, 0.13% Cu and 0.05% Co from 29.1m.
It may be noted that both the Jaguar Central and North Deposits extend over a strike length of more than 400m with the high-grade mineralisation remaining open in both directions and down-dip.
The company said that the final results from the recent Jaguar South drilling program have extended the known mineralisation 100m to the west, with the mineralisation remaining open in both directions and down-dip.
Centaurus announced that all assays have been received for maiden JORC Resource Estimate which is due for completion by the end of June.
The company said that the exceptional new results clearly demonstrate the quality and scale of the Jaguar Project, highlighting the consistency of shallow sulphide mineralisation across multiple deposits.
Jaguar Nickel Sulphide project
The Jaguar Nickel Sulphide Project is located in the western portion of the Carajás Mineral Province of Brazil, and includes multiple nickel sulphide deposits and exploration targets within a 30km2 land package.
The Jaguar Project was officially acquired from global mining giant, Vale S.A., in September 2019. The Project hosts an historical (non-JORC) Mineral Resource estimate comprising 40.4Mt at 0.78% Ni for a total of 315kt of contained nickel metal.
The key areas of the project include Jaguar South, Onça-Preta, Jaguar Central, and Jaguar North. These areas are being targeted for drilling to identify high-grade nickel sulphide zones, as well as to extend the known high-grade nickel sulphide intersections.
Drilling at Jaguar project
The company had recently commenced diamond drilling at the Jaguar Central and Jaguar North Deposits.
CTM said that the Jaguar North mineralisation occurs over 400m of strike with multiple zones of stringer to semi-massive and massive sulphides up to 25m wide that extends from surface to more than 250m depth and remains open at depth.
The Company reported that at Jaguar Central, mineralisation occurs over 800m of strike with multiple zones of stringer to semi-massive and massive sulphide up to 30m wide that extend from surface to more than 300m depth and remain open at depth. CTM’s initial drilling campaign at Jaguar Central focused on a +400m portion of the deposit, targeting near-surface high-grade mineralisation.
Centaurus announced that the diamond drilling at the Jaguar Central and Jaguar North deposits has returned outstanding broad high-grade nickel sulphide intercepts from shallow depths.
Exceptional new results
CTM announced that the drilling at Jaguar Central and Jaguar North deposits focused on in-filling and extending around historical high-grade intersections where multiple DHEM and FLEM conductor plates indicated continuity of semi-massive to massive sulphide mineralisation between the historical sections.
Jaguar Central deposit
The company announced that the first results from Jaguar Central are outstanding with all in-filling and extensional drilling successfully confirming the continuity of the thick, shallow high-grade zones.
Highlights of the new assay results from the Jaguar Central Deposit include
Hole JAG-DD-20-042: 40.5m at 1.35% Ni, 0.09% Cu and 0.03% Co from 20.0m; including 12.0m at 1.95% Ni, 0.15% Cu and 0.04% Co from 38.5m; 4.9m at 0.98% Ni, 0.05% Cu and 0.04% Co from 66.5m; and 19.3m at 0.63% Ni, 0.01% Cu and 0.02% Co from 77.6m.
Hole JAG-DD-20-047: 2.0m at 4.57% Ni, 0.11% Cu and 0.10% Co from 41.0m; 67.3m at 1.20% Ni, 0.08% Cu and 0.03% Co from 67.0m; including 19.0m at 1.70% Ni, 0.13% Cu and 0.04% Co from 79.8m; and 7.6m at 1.89% Ni, 0.07% Cu and 0.05% Co from 119.8m.
Jaguar North deposit
CTM reported that the highlights of the new assay results from the Jaguar North Deposit include the following down-hole intervals.
Hole JAG-DD-20-046: 26.8m at 1.21% Ni, 0.13% Cu and 0.04% Co from 84.3m; including; 10.8m at 2.10% Ni, 0.15% Cu and 0.06% Co from 84.3m.
Hole JAG-DD-20-048: 12.0m at 1.81% Ni, 0.44% Cu and 0.08% Co from 79.0m; including; 4.5m at 3.66% Ni, 0.63% Cu and 0.17% Co from 86.5m.
Hole JAG-DD-20-050: 28.5m at 1.44% Ni, 0.13% Cu and 0.05% Co from 29.1m; including 9.0m at 1.87% Ni, 0.11% Cu and 0.06% Co from 29.1m; and 3.6m at 4.24% Ni, 0.49% Cu and 0.16% Co from 50.7m.
Jaguar South deposit
CTM announced that the assays from the final in-fill and extensional drilling undertaken as part of the initial drill program at Jaguar South have also been received and will feed into the upcoming JORC Resource estimate work. The company said that these results have extended the strike length at Jaguar South to more than 600m. Important hits include:
Hole JAG-DD-20-041: 10.8m at 1.42% Ni, 0.04% Cu and 0.04% Co from 54.0m; including 6.3m at 2.23% Ni, 0.06% Cu and 0.05% Co from 54.0m; 30.7m at 1.16% Ni, 0.05% Cu and 0.02% Co from 102.3m; including 4.9m at 2.74% Ni, 0.10% Cu and 0.06% Co from 107.4m; 4.9m at 1.88% Ni, 0.10% Cu and 0.03% Co from 123.9m; and 2.1m at 2.55% Ni, 0.07% Cu and 0.08% Co from 130.9m.
Hole JAG-DD-20-036: 9.7m at 0.91% Ni, 0.03% Cu and 0.02% Co from 170.2m; 2.5m at 1.43% Ni, 0.05% Cu and 0.08% Co from 225.0m.
Hole JAG-DD-20-039: 4.0m at 1.01% Ni, 0.06% Cu and 0.03% Co from 26.0m; and 6.8m at 0.65% Ni, 0.04% Cu and 0.01% Co from 62.1m.
JORC Mineral Resource estimation work
The company said that the new results from the Jaguar Central and Jaguar North deposits, together with historical Vale results from the drilling of the deposits, will be included in the extensive drilling database that will underpin the upcoming maiden JORC Mineral Resource estimation work.
CTM said that the validation and interpretation work is well advanced, and the resource is expected to be delivered by the end of June.
CTM said that at Jaguar Central Deposit, one rig continues to drill at the focusing on in-filling and extending the strike length of the shallow high-grade mineralisation. DHEM surveys are being carried out on the new drilling and historical deeper holes (where holes are unobstructed) along with FLEM surveys to generate new EM conductor plates for future step-out drilling.
One rig continues to drill at Jaguar North focusing on in-filling and extending the strike length of the shallow high-grade mineralisation.
Centaurus reported that the Electro-magnetic geophysical surveys (DHEM and FLEM) are ongoing. The company said that the in‐fill and extensional drilling within the known deposits to test the continuity of high-grade zones is also ongoing. From 14 April there have been two rigs on day shift only. CTM said that the resource samples are being sent in batches of 150-300 samples and will be reported once the batches are completed.
The Company said that it plans to return to drilling the high-grade Onça Rosa discovery in the second half of 2020. The company said that it is on track with the Scoping and Pre-Feasibility Studies and the progress of the environmental permitting activities.
Centaurus’ Managing Director Darren Gordon said: “It’s quite rare to see such consistent grades and widths across so many shallow deposits which would be amenable to extraction via open pit mining, before possibly moving underground in the future.
These important attributes put Jaguar in a league of its own as a nickel sulphide development proposition and reinforce why we see it as a company-making project.
Importantly, these results also show that our targeting method has been very successful in allowing us to infill and often extend the high-grade zones delineated in previous wide-spaced drilling by Vale. This targeting method has proven to be successful at Jaguar South, Onça Preta and Onça Rosa and now we are having the same success at Jaguar Central and Jaguar North.
The shallow zones of mineralisation delineated by this drilling and the historical Vale holes into Jaguar Central and Jaguar North will be incorporated in the upcoming maiden Mineral Resource estimate. In the meantime, we will continue to evaluate the deeper potential – which we think is just as exciting.
Down-hole geophysics on the new drill holes has consistently identified strong conductor plates below the deepest drilling, indicating significant potential for more semi-massive to massive sulphides at depth. This potential will be systematically tested in the months ahead.
With all of the drilling required to deliver our maiden Mineral Resource now complete, two rigs are continuing to operate at Jaguar Central and Jaguar North to test down-dip extensions of the deposits.
Additionally, a regional field team has commenced mapping, soil sampling and FLEM survey work to generate a pipeline of new regional targets on the western portion of the land package which we will be aiming to start drilling in the next 2-3 months.”