Centaurus Metals (ASX: CTM) has returned more strong intersections of iron mineralisation from the recently-completed in-fill drilling program on the Tigre Prospect at its Jambreiro Iron Ore Project in south-east Brazil.
Results from the completed first phase of drilling continue to show broad widths of mineralisation and continuity of grade, providing Centaurus with confidence that the resource base will form the foundation of a financially robust project.
Highlights include:
- 46.8 metres at 34.5% iron, 2.6% aluminium and 0.02% Phosphorus;
- 66 metres at 31.3% iron, 2.5% aluminium and 0.04% phosphorus; and
- 54 metres at 28.5% iron, 3.6% aluminium and 0.02% phosphorus.
The company is looking to upgrade the Tigre Prospect’s JORC Inferred Resource of 69 million tonnes at 29.3% iron to the Indicated status by mid June.
Centaurus completed 5,175 metres of drilling, 2,150 metres diamond and 3,025 metres reverse circulation, in the current program.
Darren Gordon, managing director, said “with the Brazilian economy growing at an impressive 4% to 5% per annum and with Brazil’s strong internal demand for iron ore arising from its extensive steel sector, Centaurus is, through projects like Jambreiro, exceptionally well positioned to capitalise on growth.”
The infill drilling results are consistent with past drilling results and confirm the company’s interpretation of Tigre.
Beneficiation test work at the project has delivered high grade hematite product grading 66.2% with low impurities using a wet high intensity magnetic separation process.
Drilling continues at Jambreiro with three diamond rigs and one reverse circulation drill rig on site , all working 24 hours per day.
Centaurus has begun drilling at the Galo and Cruzeiro Prospects as well as testing new targets identified from the ground magnetic survey and trenching program.
The company is planning a third phase of drilling that will test the south-east extension of the Tigre Prospect, where the prospect remains open along strike.
Surface mapping and ground magnetic anomalies have identified a further 500 metres of strike extension of the Tigre Prospect in this area.
The Jambreiro Iron Ore Project is a central part to Centaurus' plans to produce 3 million tonnes per annum of high grade hematite for the Brazilian domestic steel industry by the end of 2013.