Centaurus Metals discovers thick nickel sulphide zone at Onca Rosa prospect

Centaurus Metals (ASX: CTM) has discovered a thick zone of high-grade nickel sulphides, while drilling the Onca Rosa prospect within the Jaguar project in northern Brazil’s Carajas Mineral Province.

Notable assays from drilling were 9.3m at 3.13% nickel, 0.19% copper and 0.08% cobalt from 281.8m.

According to Centaurus, the intersection confirms the continuity of mineralisation 40m down dip from a historic Vale drill hole, which uncovered 7.9m at 5.27% nickel, 0.26% copper, and 0.11% cobalt from 247m.

Centaurus noted it was its first systematic drilling outside of the non-JORC mineral resource envelope at Jaguar, with managing director Darren Gordon describing the find as a “potentially significant” high-grade addition to known targets at Jaguar.

“We are really excited by what we are seeing at Onca Rosa.”

“Our new diamond hole, drilled to confirm the potential for a new discovery has intersected a thick zone of high-grade mineralisation that correlates extremely well with the shallower intercept reported previously by Vale.”

Mr Gordon added the grades seen at Onca Rosa were some of the best seen across the Jaguar project.

Onca Rosa

Onca Rosa is a largely untested prospect where a 600m long anomaly has been identified.

“Our geologists have always like Onca Rosa as they have mapped nickeliferous magnetite float at surface, seen strong EM and magnetic responses over the prospect are and believe that it is located right at the intersection of two of the most important mineralising structures in the Carajas,” Mr Gordon explained.

One of the three rigs at Jaguar will now be dedicated to Onca Rosa, with a DHEM survey planned to help Centaurus identify further high-grade targets at the prospect.

Extensive drilling will be carried out at Onca Rosa in the coming months, and Mr Gordon said the company is aiming to publish a maiden resource for the discovery mid-year.

Jaguar currently has a foreign non-JORC resource of 40.4 million tonnes at 0.78% nickel for 315,000t of contained nickel.

Onca Rosa is not part of this estimate.