Resources & Reserves
Jaguar Nickel Sulphide Project - JORC Ore Reserve Estimate as at July 2024 and Mineral Resource Estimate (MRE) as at November 2022
Jaguar Nickel Project Ore Reserves – July 2024
|
Deposit
|
Classification
|
Ore Tonnes
|
Ore Grades
|
Contained Metal
|
|
Mt
|
Ni%
|
Cu%
|
Co ppm
|
Ni (kt)
|
Cu (kt)
|
Co (kt)
|
|
Jaguar
|
Proved
|
8.8
|
0.80
|
0.05
|
231
|
70.3
|
4.4
|
2.0
|
|
Probable
|
51.5
|
0.70
|
0.05
|
195
|
358.4
|
25.6
|
10.0
|
|
Total
|
60.3
|
0.71
|
0.05
|
201
|
428.7
|
30.0
|
12.0
|
|
Onça Preta
|
Proved
|
2.6
|
1.15
|
0.09
|
635
|
29.6
|
2.2
|
1.7
|
|
Probable
|
0.1
|
0.66
|
0.06
|
316
|
0.9
|
0.1
|
0.1
|
|
Total
|
2.7
|
1.12
|
0.08
|
619
|
30.5
|
2.3
|
1.7
|
|
Jaguar Nickel Project
|
Proved
|
11.4
|
0.88
|
0.06
|
323
|
99.9
|
6.6
|
3.7
|
|
Probable
|
51.6
|
0.70
|
0.05
|
196
|
359.3
|
25.7
|
10.1
|
|
Total
|
63.0
|
0.73
|
0.05
|
219
|
459.2
|
32.3
|
13.8
|
The rounding in the above tables is an attempt to represent levels of precision implied in the estimation process and apparent errors in summation may result from the rounding. Ore Reserve has been reported using a ‘Net Smelter Return’ (NSR) cut-off of US$12.02/tonne which includes provision for feed grade, recovery, treatment costs, freight and nickel payables.
Jaguar Nickel Sulphide Project - JORC Mineral Resource Estimate (MRE) as at November 2022
|
|
Tonnes
|
Grade
|
Contained Metal
|
|
Classification
|
Mt
|
Ni%
|
Cu%
|
Co ppm
|
Ni
|
Cu
|
Co
|
|
Measured
|
14.0 |
1.06 |
0.07 |
388 |
149,400 |
9,700 |
5,500 |
|
Indicated
|
72.6 |
0.81 |
0.06 |
237 |
588,500 |
42,600 |
17,200 |
|
Measured & Indicated
|
86.6 |
0.85 |
0.06 |
262 |
737,800 |
52,500 |
22,700 |
|
Inferred
|
22.6 |
0.93 |
0.09 |
289 |
211,000 |
19,800 |
6,500 |
|
Total
|
109.2 |
0.87 |
0.07 |
268 |
948,900 |
72,300 |
29,200 |
* Within pit limits cut-off grade 0.3% Ni; below pit limits cut-off grade 0.7% Ni; Totals are rounded to reflect acceptable precision. Subtotals may not reflect global totals. All oxide material is considered waste and therefore not reported as Resources.
Jambreiro Iron Ore Project - JORC Ore Reserve Estimate and Mineral Resource Estimate (MRE) as at 31 December 2020
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.
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%;
Ore Reserves and Mineral Resources 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 31 December 2021 and 10 November 2022. 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 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 Ore Reserve and Mineral Resources Statement
The Company reports its Ore Reserves and Mineral Resources 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
Jaguar Ore Reserves
The information in this report that relates to Ore Reserves is based on information compiled by Adriano Carmensi Carneiro and Peter Rowland Lock, both of whom are Competent Persons and Members of the Australasian Institute of Mining and Metallurgy. Both Adriano Carmensi Carneiro and Peter Rowland Lock are currently employed by Mining Plus. Adriano Carmensi Carneiro and Peter Rowland Lock both have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). Specifically, Mr Carneiro is the Competent Person for the overall study, excluding Capital and Operating estimates, nickel price and financial analysis. Mr Lock is the Competent Person for the capital and operating estimates, nickel price and financial analysis. Adriano Carmensi Carneiro and Peter Rowland Lock consent to the disclosure of information in this report in the form and context in which it appears.
Jaguar Mineral Resources
The information in this report that relates to the December 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.
Jambreiro Ore Reserves
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.
Jambreiro Mineral Resources
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.
