Centaurus Metals (ASX: CTM) is an ASX listed exploration company offering highly leveraged exposure to a rich asset base in Brazil including exciting new greenfields copper-gold, nickel-cobalt and iron ore exploration projects.
The Company is maintaining an aggressive exploration program across its Brazilian asset portfolio, aimed at generating new discoveries to deliver shareholder value.
Centaurus’ core focus is on its +250 sq km landholding in the Carajás Mineral Province, one of the world’s premier mining addresses. The Carajás Mineral Province hosts current resources totalling more than four billion tonnes of copper gold ore.
Centaurus Metals is pleased to announce that the first exploration activities at its newly acquired Itapitanga Nickel Cobalt Project in northern Brazil have returned high grade cobalt mineralisation of up to 0.52% cobalt (Co) in rock chips and 0.19% Co in channel samples
With exploration activities set to ramp up again significantly over the next two months, the Company has already mobilised its exploration team to the project and a broad soils and auger drilling program is underway.
First results from soil sampling and auger drilling are expected in the coming weeks.
Concurrently with the extensive work being undertaken now on the Itapitanga Project, the Company continues to plan for its maiden diamond drilling program at its flagship Salobo West CopperGold Project, which is scheduled for May/June after the end of the current wet season, and its initial RC drill program at its Pebas CopperGold Project which is planned to start after the first round of RC drilling at Itapitanga is complete.
Similar results at itapitanga project to the jacare deposit which is close by and is one of the highest cobalt grades globally
Licencing for drilling at Salobo West advanced with the relevant approvals anticipated to be available in H1, 2018 to facilitate the start of drilling following the end of the regional wet season in May 2018.
CORPORATE Cash Position At 31 December 2017, the Company held cash reserves of A$0.82 millConcurrently with the extensive work being undertaken now on the Itapitanga Project, the Company continues to plan for its maiden diamond drilling program at its flagship Salobo West CopperGold Project, which is scheduled for May/June after the end of the current wet season, and its initial RC drill program at its Pebas CopperGold Project which is planned to start after the first round of RC drilling at Itapitanga is complete.ion.
Should R3M complete the minimum work program before the end of March, they can elect to extend their option over the Project for a further six months. Should they decide to exercise the option, they will be required to pay Centaurus R$3 million (A$1.2 million) as a non refundable advance of a 12% production royalty
The Company is maintaining an aggressive exploration program across its Brazilian asset portfolio, aimed at generating new discoveries to deliver shareholder value.
Centaurus’ core focus is on its +250 sq km landholding in the Carajás Mineral Province, one of the world’s premier mining addresses. The Carajás Mineral Province hosts current resources totalling more than four billion tonnes of copper gold ore.
Centaurus Metals is pleased to announce that the first exploration activities at its newly acquired Itapitanga Nickel Cobalt Project in northern Brazil have returned high grade cobalt mineralisation of up to 0.52% cobalt (Co) in rock chips and 0.19% Co in channel samples
With exploration activities set to ramp up again significantly over the next two months, the Company has already mobilised its exploration team to the project and a broad soils and auger drilling program is underway.
First results from soil sampling and auger drilling are expected in the coming weeks.
Concurrently with the extensive work being undertaken now on the Itapitanga Project, the Company continues to plan for its maiden diamond drilling program at its flagship Salobo West CopperGold Project, which is scheduled for May/June after the end of the current wet season, and its initial RC drill program at its Pebas CopperGold Project which is planned to start after the first round of RC drilling at Itapitanga is complete.
Similar results at itapitanga project to the jacare deposit which is close by and is one of the highest cobalt grades globally
Licencing for drilling at Salobo West advanced with the relevant approvals anticipated to be available in H1, 2018 to facilitate the start of drilling following the end of the regional wet season in May 2018.
CORPORATE Cash Position At 31 December 2017, the Company held cash reserves of A$0.82 millConcurrently with the extensive work being undertaken now on the Itapitanga Project, the Company continues to plan for its maiden diamond drilling program at its flagship Salobo West CopperGold Project, which is scheduled for May/June after the end of the current wet season, and its initial RC drill program at its Pebas CopperGold Project which is planned to start after the first round of RC drilling at Itapitanga is complete.ion.
Should R3M complete the minimum work program before the end of March, they can elect to extend their option over the Project for a further six months. Should they decide to exercise the option, they will be required to pay Centaurus R$3 million (A$1.2 million) as a non refundable advance of a 12% production royalty