Centaurus Metals Ltd (ASX:CTM) has highlighted the growing scale and potential of its Brazilian nickel-cobalt project with further strong intersections from ongoing drilling at Itapitanga.
Results have been received from the first 46 holes of the northern target, which remains open to the west and northwest.
The southern and newly identified western targets are now being drilled.
Potential for near-term mineral resource definition
Centaurus managing director Darren Gordon said the project was continuing to emerge as a substantial high-grade nickel-cobalt discovery, with potential to move rapidly towards definition of a mineral resource.
“The standout features so far include the consistency and grade of the wide zones of nickel-cobalt mineralisation which have been encountered over a strike length of more than 3.5 kilometres at the northern target.”
Best results from the drilling program include 30 metres at 0.92% nickel and 0.02% cobalt from 10 metres; 10 metres at 1.03% nickel and 0.21% cobalt from surface; and 19 metres from 1.04% nickel and 0.07% cobalt from surface.
Gordon said: “The drilling has also clearly defined a consistent zone of high-grade cobalt starting at or very close to surface, which bodes well for any future mining activities.
“Interestingly, we are identifying the thickest intersections and highest cobalt grades around the deposit’s limits and along cross-cutting structures.
“Drilling is continuing at [the southern and western targets] … which should give us a clearer picture of the broader scale and potential of the project.”
Thick and consistent nickel intervals
The northern target mineralisation is up to 30 metres thick, extends over a strike length of 3.5 kilometres and has section widths of up to 650 metres.
Nickel grades across the mineralisation are strong, with thick and consistent intervals of over 0.90% nickel encountered.
There are also multiple high-grade cobalt zones of at least 10 metres depth where the grade runs over 0.12%.
The Itapitanga project is the southern extension of the same ultramafic-mafic intrusive complex that hosts Anglo American plc’s (LON:AAL) Jacaré nickel-cobalt deposit and several resources held by Vale SA (BVMF:Vale3).