Centaurus Metals (ASX: CTM) is continuing to prove up potential for an iron ore export business from the company’s Serra da Lontra Project in Brazil, with further near surface drilling results.
The company is carrying out a reverse circulation and diamond drilling program which will underpin a maiden JORC Resource at Serra da Lontra, targeted for August 2012.
To date, 5,600 metres of the 7,500 metre program have been completed, with assays including:
- 38.8 metres at 35.5% iron, 5.1% aluminium and 0.07% phosphorus from 7.3 metres;
- 32.2 metres at 40.8% iron, 1.8% aluminium and 0.07% phosphorus from surface; and
- 30 metres at 39.3% iron, 2.7% aluminium and 0.08% phosphorus from surface.
These results indicate the continuity of a siliceous itabirite mineralised body that is between 15 and 35 metres wide and hosts grades of 30% to 40% iron.
Importantly, results from drilling support the project’s exploration target of between 30 and 50 million tonnes at 30% to 40% iron from the siliceous itabirite mineralisation.
Serra da Lontra is located in southeast Brazil, 110 kilometres from the export port of Ilhéus in the State of Bahia.
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