Centaurus Metals Unveils Encouraging Drilling Results at Boi Novo Copper-Gold Project
CTM (CTM) Share Update November 2024 Monday 18th
Centaurus Metals Reports Promising Copper-Gold Drilling Results at Boi Novo
Centaurus Metals Limited has released promising results from its ongoing drilling program at the Boi Novo Copper-Gold Project in Brazil, highlighting significant copper and gold mineralization.
Instant Summary:
- Drill-hole BON-DD-24-016 returned 9.1m at 1.55% Cu and 0.08ppm Au.
- 80m wide zone of disseminated sulphides intersected in drill-hole BON-DD-24-021.
- Multiple high-grade breccia and disseminated mineralization zones found.
- Project located near major copper-gold facilities in Brazil.
- Drilling campaign extended by an additional 2,000m.
Drilling Results Overview
Centaurus Metals has announced new results from its maiden drill program at the Boi Novo Copper-Gold Project, located in the Carajás Mineral Province of northern Brazil. The drilling has revealed both high-grade breccia-hosted copper mineralization and broad zones of disseminated copper-gold mineralization.
Drill-hole BON-DD-24-016 at the Nelore West Prospect returned assays of 24.2m at 0.76% Cu and 0.05ppm Au from 42.3m, including a notable 9.1m at 1.55% Cu and 0.08ppm Au from 57.4m. This high-grade breccia zone is part of a larger breccia-hosted system identified by Centaurus' in-house EM team.
Emerging Discovery Potential
The Boi Novo Project is showing potential as a significant copper-gold discovery. Drill-hole BON-DD-24-021 intersected an 80m wide zone of disseminated copper-gold mineralization, indicating the presence of a large mineralized system. This zone remains open along strike and at depth, with further exploration planned.
The project is strategically located near Vale's copper-gold concentrate load-out facility and BHP's Antas Norte copper flotation plant, providing logistical advantages for future development.
Future Exploration Plans
Centaurus has extended its drilling campaign by an additional 2,000m, with plans to continue testing multiple geophysical targets, including Down Hole Electro-Magnetics (DHEM), Fixed Loop Electro-Magnetics (FLEM), and Induced Polarisation (IP) targets. The company remains well-funded to support these exploration activities alongside its flagship Jaguar Nickel Sulphide Project.
The announcement of high-grade copper and gold mineralization at Boi Novo is likely to boost investor confidence in Centaurus Metals. The proximity to existing infrastructure and the potential for a significant discovery could positively influence the company's stock price. The extended drilling campaign suggests a commitment to unlocking further value from the project.
Investor Reaction:
Analysts are likely to view these results favorably, given the high-grade nature of the mineralization and the strategic location of the project. The continuation of the drilling program indicates potential for further positive news, which could attract increased investor interest.
Conclusion:
Investors should keep a close watch on Centaurus Metals as the company advances its exploration efforts at Boi Novo. The promising results and strategic location position Centaurus as a key player in the copper-gold sector. Ongoing updates from the extended drilling campaign will be crucial for assessing the project's full potential.