Resources & Reserves

Jaguar Nickel Sulphide Project - JORC Mineral Resource Estimate (MRE) as at 29 March 2021

 

Tonnes

Grade

Contained Metal Tonnes

Classification

Ore Type

Mt

Ni %

Cu %

Co ppm

Ni

Cu

Co

Indicated

Transition Sulphide

0.7

0.96

0.08

250

6,900

600

200

Fresh Sulphide

19.4

1.13

0.07

326

218,900

14,200

6,300

Total Indicated

20.1

1.12

0.07

323

225,800

14,800

6,500

Inferred

Transition Sulphide

0.9

0.79

0.07

239

6,800

600

200

Fresh Sulphide

37.9

0.87

0.06

230

330,000

23,500

8,700

Total Inferred

38.8

0.87

0.06

230

336,800

24,100

8,900

Total

 

58.9

0.96

0.07

262

562,600

38,800

15,400

* Within 200m of surface cut-off grade 0.3% Ni; more than 200m from surface cut-off grade 1.0% Ni; Totals are rounded to reflect acceptable precision. Subtotals may not reflect global totals.

Jambreiro Iron Ore Project - JORC Mineral Resource Estimate (MRE) as at 31 December 2020

Ore Reserves

 

Ore Reserves as at 31 December 2020

Ore Reserves as at 31 December 2019

Project

Million

Tonnes

Fe

%

SiO2 %

Al2O3 %

P

%

LOI

%

Million

Tonnes

Fe

%

SiO2 %

Al2O3 %

P

%

LOI

%

Jambreiro Project *

Proved

35.4

28.5

49.6

4.3

0.04

1.7

35.4

28.5

49.6

4.3

0.04

1.7

Probable

13.1

27.2

49.0

5.3

0.04

2.4

13.1

27.2

49.0

5.3

0.04

2.4

TOTAL

48.5

28.1

49.4

4.6

0.04

1.9

48.5

28.1

49.4

4.6

0.04

1.9

*20% Fe cut-off grade applied; Mine Dilution - 2%; Mine Recovery - 98%;

Mineral Resources

Project

Mineral Resources as at 31 December 2020

Mineral Resources as at 31 December 2019

Million

Tonnes

Fe

%

SiO2 %

Al2O3 %

P

%

LOI

%

Million

Tonnes

Fe

%

SiO2 %

Al2O3

P

%

LOI

%

%

Jambreiro Project*

Measured

44.3

29.2

50.5

3.9

0.04

1.6

44.3

29.2

50.5

3.9

0.04

1.6

Indicated

37.7

27.5

51.1

3.7

0.04

1.7

37.7

27.5

51.1

3.7

0.04

1.7

Inferred

45.1

27.3

52.7

3.3

0.05

1.3

45.1

27.3

52.7

3.3

0.05

1.3

TOTAL

127.1

28.0

51.4

3.7

0.05

1.5

127.1

28.0

51.4

3.7

0.05

1.5

Canavial Project*

Indicated

6.5

33.6

33.6

7.1

0.10

7.9

6.5

33.6

33.6

7.1

0.10

7.9

Inferred

21.1

29.6

38.0

5.7

0.07

5.9

21.1

29.6

38.0

5.7

0.07

5.9

TOTAL

27.6

30.5

37.0

6.0

0.07

6.4

27.6

30.5

37.0

6.0

0.07

6.4

Passabém Project**

Indicated

2.8

33.0

48.8

1.9

0.03

0.6

2.8

33.0

48.8

1.9

0.03

0.6

Inferred

36.2

30.9

54.0

0.7

0.07

0.1

36.2

30.9

54.0

0.7

0.07

0.1

TOTAL

39.0

31.0

53.6

0.8

0.07

0.1

39.0

31.0

53.6

0.8

0.07

0.1

TOTAL COMBINED

193.7

29.0

49.8

3.4

0.05

1.9

193.7

29.0

49.8

3.4

0.05

1.9

*20% Fe cut-off grade applied; ** 27% Fe cut-off grade applied;
(a) Mineral Resources are reported inclusive of Ore Reserves.
(b) Rounding may generate differences in last decimal place.

Mineral Resources and Ore Reserves Annual Statement and Review

The Company carries out an annual review of its Mineral Resources and Ore Reserves as required by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) 2012 edition and the ASX Listing Rules. The review of the nickel Mineral Resources was carried out as at 31 December 2020 and updated subsequently on 4 February 2021. The Jaguar Resource estimates have been reported in accordance with the JORC Code 2012 edition and the ASX Listing Rules.

The review of the iron ore Mineral Resources and Ore Reserves was carried out as at 31 December 2020. The Jambreiro Resources and Reserve estimate have been reported in accordance with the JORC Code 2012 edition and the ASX Listing Rules. The remaining Mineral Resource estimates were prepared and disclosed under the JORC Code 2004 edition. 

The information prepared for the Canavial, and Passabém Resource estimates have not been updated to comply with the JORC Code 2012 edition on the basis that the information has not materially changed since it was last reported.

The Company is not aware of any new information or data that materially affects the information included in this Annual Statement and confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Estimation Governance Statement

The Company ensures that all Mineral Resource and Ore Reserve calculations are subject to appropriate levels of governance and internal controls. Exploration Results are collected and managed by competent qualified staff geologists and overseen by the Exploration Manager. All data collection activities are conducted to industry standards based on a framework of quality assurance and quality control protocols covering all aspects of sample collection, topographical and geophysical surveys, drilling, sample preparation, physical and chemical analysis and data and sample management.

Mineral Resource and Ore Reserve estimates are prepared by qualified independent Competent Persons and further verified by the Company’s technical staff. If there is a material change in the estimate of a Mineral Resource, the modifying factors for the preparation of Ore Reserves, or reporting an inaugural Mineral Resource or Ore Reserve, the estimate and supporting documentation in question is reviewed by a suitably qualified independent Competent Person.

Approval of Mineral Resources and Ore Reserve Statement

The Company reports its Mineral Resources and Ore Reserves on an annual basis in accordance with the JORC Code 2012 Edition.

The Ore Reserves and Mineral Resources Statement is based on and fairly represents information and supporting documentation prepared by competent and qualified independent external professionals and reviewed by the Company’s technical staff. The Ore Reserves and Mineral Resources Statement has been approved by Roger Fitzhardinge, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy.  Roger Fitzhardinge is a permanent employee of Centaurus Metals Limited. Mr Fitzhardinge has consented to the inclusion of the Statement in the form and context in which it appears on this website.

Competent Persons’ Statements

The information in this report that relates to the March 2021 Jaguar Mineral Resource is based on information compiled by Mr Lauritz Barnes (consultant with Trepanier Pty Ltd) and Mr Roger Fitzhardinge (a permanent employee and shareholder of Centaurus Metals Limited). Mr Barnes and Mr Fitzhardinge are both members of the Australasian Institute of Mining and Metallurgy.  Mr Barnes and Mr Fitzhardinge have sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration, and to the activities undertaken to qualify as Competent Persons as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Specifically, Mr Fitzhardinge is the Competent Person for the database (including all drilling information), the geological and mineralisation models plus completed the site visits.  Mr Barnes is the Competent Person for the construction of the 3-D geology / mineralisation model plus the estimation.  Mr Barnes and Mr Fitzhardinge consent to the inclusion in this report of the matters based on their information in the form and context in which they appear.

The information on this website that relates to Jambreiro Mineral Resources is based on information compiled by Roger Fitzhardinge, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy and Volodymyr Myadzel, a Competent Person who is a Member of Australian Institute of Geoscientists. Roger Fitzhardinge is a permanent employee of Centaurus Metals Limited and Volodymyr Myadzel is the Senior Resource Geologist of Micromine BNA Consultoria e Sistemas Limited, independent resource consultants engaged by Centaurus Metals. Roger Fitzhardinge and Volodymyr Myadzel have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Roger Fitzhardinge and Volodymyr Myadzel consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The information on this website that relates to Jambreiro Ore Reserves is based on information compiled by Beck Nader, a Competent Person who is a professional Mining Engineer and a Member of Australian Institute of Geoscientists. Beck Nader is the Managing Director of Micromine BNA Consultoria e Sistemas Ltda and is a consultant to Centaurus. Beck Nader has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Beck Nader consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.