Centaurus Metals Ltd (ASX:CTM) is set to commence drilling at its Mombuca Gold Project in Brazil, where it has recently identified significant gold targets from geophysical surveys.
The program will include 2,500 metres of diamond drilling and will test multiple strong geophysical and geochemical targets to a depth of 300 metres below surface.
The first phase of drilling will target the ITZ Prospect, a 1.5 kilometres long, gold‐in‐soil geochemical anomaly hosting gold‐bearing quartz veins with sulphides set amongst extensive artisanal workings.
Rock chip samples from this area have graded up to 12.2 g/t gold.
The second phase of drilling will test the Bela Prospect, a large‐scale chargeability target that is coincident with a localised magnetic low feature within a broader magnetic high anomaly.
The strong correlation between the chargeability-high, the resistivity-high and the magnetic-low in both prospect locations is an indicator of magnetite depletion by sulphide‐rich fluids and represents promising drill targets.
The upcoming drill program is an important moment for Centaurus, representing the first comprehensive test of what has emerged as an interesting greenfields opportunity.
The company had raised $650,000 last month through a share placement at $0.005 per share.
Incidentally, Centaurus entered into a new 50/50 joint venture with Tavarua International Inc last month to pursue potash projects in Australia and south‐east Asia.
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