The Jaguar Nickel Sulphide Project is located in the western portion of the world-class Carajás Mineral Province of Brazil, including multiple nickel sulphide deposits and exploration targets within a 30km2 land package. The Jaguar Project was officially acquired from global mining giant, Vale S.A., in September 2019.
The Project hosts an historical (non-JORC) Mineral Resource estimate comprising 40.4Mt at 0.78% Ni for a total of 315kt of contained nickel metal (at a 0.5% Ni cut-off)*. This historical Resource was completed by Vale in 2010 based on more than 55,000m of diamond drilling.
*CTM cautions that the mineral resources for the Jaguar Project are not reported in accordance with the JORC Code. A Competent Person has not yet done sufficient work to classify the resources as mineral resources in accordance with the JORC code. It is uncertain that, following evaluation or further work, the foreign estimate will be able to be reported as Mineral Resources in accordance with the JORC Code.
Centaurus will engage an independent resource specialist to review and update the resource to JORC 2012 compliance during the initial phase of planned work programs.
The average depth of drilling at Jaguar is 335m with the deepest drill holes reaching 535m. In all cases the deposits remain open at depth and, in some cases, along strike.
The key deposits are:
Nickel sulphide mineralisation occurs as two types at Jaguar. The bulk low-medium grade mineralisation occurs as veins and veinlets to stringer sulphides associated with, and generally concordant to, the W-NW trending large scale hydrothermal alteration zones. This was the type of mineralisation targeted in the historical drilling.
The high-grade mineralisation forms as zones of massive and semi-massive sulphides comprising bodies up to 30m thick, parallel or oblique to the large hydrothermal alteration zones. Centaurus will focus its in-fill and extensional drilling efforts on these near-surface high-grade targets.
High-Grade Open Pit Potential – The Short Term Focus
Historical drilling was focused on bulk tonnage low-medium grade mineralisation. Generally, Vale did not follow-up any high-grade massive and semi-massive sulphide intersections because its exploration approach was based on the assumption that these structures were not going to deliver the size of deposit required by Vale to meet its minimum hurdles for a mine development.
The deposits host multiple thick zones of primary high-grade massive and semi-massive nickel sulphide intersections that occur close to surface with outstanding nickel grade, including:
The high-grade zones often appear oblique to drilling, suggesting that the historical drill orientation was not particularly favourable to identifying and defining the high-grade zones. Re-logging and re-interpretation of historical drill core is underway with a focus on understanding the structural controls and plunge of the high-grade zones to allow Centaurus to focus on the development of an initial high-grade open pit project before moving underground on the high-grade lodes.
The close association of magnetite with the high-grade massive to semi-massive sulphide mineralisation lends itself very well to ground Magnetic and Electro-magnetic (EM) surveys, both of which will be undertaken in the near-term.
Project Development Advantages
The Jaguar Project is ideally located at the intersection of two major fault zones of the Carajás, the Canaan and McCandless faults. The majority of the first-priority geochemical anomalies have been tested, however there are multiple structures and coincident Ni/Cr anomalies (a geochemical indicator of nickel sulphides) and geophysical targets that remain untested.
Key initial targets include: