Centaurus Metals has a feisty Jaguar nickel play on its hands, says Stockhead
14th February 2020
Resources Rising Stars
Centaurus Metals (ASX: CTM) has bitten into a thick zone of high-grade semi-massive to massive nickel sulphides at the Onça-Rosa prospect, within its Jaguar nickel project in northern Brazil (reports Bevis Yeo of Stockhead).
Recent drilling has confirmed the down-dip extension of historical high-grade nickel sulphide mineralisation with a top result of 9.3m at 3.13 per cent nickel, 0.19 per cent copper and 0.08 per cent cobalt from 281.8m, Yeo said.
This is 40m down-dip from a historical Vale drill hole that intersected 7.9m at 5.27 per cent nickel, 0.26 per cent copper and 0.11 per cent cobalt from 247m.
Onça-Rosa is a largely untested 600m-long electromagnetic conductor plate that is coincident with a magnetic anomaly and high nickel-chromium soil geochemical ratios that are indicative of nickel sulphides.
Centaurus Managing director Darren Gordon says that while there has been very limited drilling on the prospect, the latest results underscores the company’s belief that it could potentially be included in a maiden high-grade nickel sulphide resource estimate targeted for mid‐year.
“We are really excited by what we are seeing at Onça Rosa,” Gordon said.
“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.
“The grades in the drilling here are some of the best we have seen on the property. We have now backed up the historical Vale intersection that returned 7.9m @ 5.27% Ni with an outstanding new intercept of 9.3m @ 3.13% Ni some 40m down-dip, confirming Onça Rosa as a new high-grade nickel sulphide discovery.”
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