Centaurus Metals (ASX: CTM) has pulled up more shallow, thick, high-grade nickel sulphide intersections while drilling at the Jaguar South deposit within its Brazilian Jaguar project.
Notable results were 37.7m at 2.11% nickel from 109.4m, including 3.7m at 8.55% nickel from 128.2m; 21.8m at 2.65% nickel from 22.2m, including 16.1m at 3.07% nickel from 26.9m; and 10.8m at 1.89% nickel from 31.3m, including 4.5m at 3.66% nickel from 35.7m.
The intersections all contained lower grade copper and cobalt credits ranging from up to 1.15% copper and 0.12% cobalt.
With these latest results, the identified strike at Jaguar South now extends more than 600m with mineralisation remaining open in both directions and down dip.
Additionally, down hole electromagnetic surveys have pinpointed more electromagnetic conductor plates to the west, which has also been drill tested. Nickel sulphides have been identified in these intersections with assays pending.
Centaurus’ managing director Darren Gordon said the latest assay batch demonstrated the quality, grade and scale of the Jaguar South deposit.
“There are very few high-grade nickel sulphide deposits globally that start so close to surface and offer the opportunity for open pit mining of high-quality mineralisation from just 20-30m depth.”
“This highlights the unique opportunity that we have in front of us at Jaguar and the very exciting opportunity that is now rapidly taking shape.”
Jaguar nickel project
Mr Gordon added the results at Jaguar South were comparable to what the company had achieved at the Onca Preta deposit within the project which returned 14.9m at 2.94% nickel, including 10m at 4% nickel from 57m.
“It is great to see that we have multiple high-grade low strip opportunities across the project and this bodes extremely well for the future development of the Jaguar project as an initial open pit and longer-term underground operation,” he said.
Two rigs are currently operating at the project with one at the Jaguar Central deposit where historical drilling uncovered 31.4m at 2.47% nickel and 26m at 2.13% nickel.
The second rig is testing the Onca Rosa discovery.
“The overall resource drilling program is now moving into its final stages and I think it is fair to say it has significantly exceeded our expectations – putting us firmly on track for a maiden JORC resource by mid-year,” Mr Gordon said.