Centaurus Embarks on Transformational Year of Project Development and High-Impact Exploration At the High-Grade Jaguar Nickel Sulphide Project, Brazil
January 14, 2020 at 09:23 pm
Centaurus Metals advised that it has taken another important step towards its objective of becoming a high-grade nickel sulphide producer with the commencement of exploration, resource definition and project development programs for 2020 at the Jaguar Nickel Sulphide Project in north-eastern Brazil. The next 12 months were shaping up as a defining period in the Company's history as it embarked on a multi-pronged strategy aimed at delivering a maiden high-grade JORC Mineral Resource at Jaguar, making new massive sulphide nickel discoveries and putting in place the foundations for a rapid pathway to project development and licensing. Exploration & Resource Development: Third diamond drill mobilised to site with all three rigs operating on double-shift. Drilling currently focused on Jaguar South and Onça-Preta Deposits to extend known high-grade mineralisation and identify new high-grade zones. Exploration drilling at other deposits and new prospects to start over the coming months. Next batch of assay results due by the end of January. Down-Hole and Fixed Loop Electromagnetic (EM) equipment has landed in Brazil awaiting customs clearance, with a geophysicist from Southern Geoscience to visit site in at end of January to train a dedicated Centaurus EM survey team. Metallurgy & Engineering: A comprehensive review of historical metallurgical data indicates multiple value adding and project risk reduction opportunities exist within the processing and engineering disciplines. Metallurgical samples of Jaguar South and Onça-Preta ores have been selected and delivered to Australia for mineralogy assessment and metallurgical test work to begin this month. Preliminary water balance, waste storage requirements and project layout studies well advanced. Project Environmental Licensing: Terms of reference for the key Environmental Impact Assessment (EIA/RIMA) issued by the Pará Environmental Agency (SEMAS). Wet season environmental data collection for the Jaguar Project EIA/RIMA already underway. Funding: Centaurus remains well-funded to undertake its 2020 work program with $9.7 million in cash reserves at the end of December 2019.