Centaurus Metals Announces More Strong Nickel-Cobalt Auger Results from Itapitanga

Centaurus Metals announced that the first assay results from recent hand‐held auger drilling at the Southern Target at its Itapitanga Nickel‐Cobalt Project in Brazil have confirmed an additional high‐grade nickel and cobalt mineralisation target, further enhancing the broader potential of the project.

The Southern Target is a 2.0km long magnetic feature, that is up to 400m wide and located immediately south of the Northern Target, where hand‐held auger results have returned intersections of up to 12m @ 0.93% Ni and 0.13% Co and 8.7m @ 1.21% Ni and 0.10% Co with most holes starting and finishing in high‐grade mineralization.

The Southern Target has a thin zone of low grade (<0.5% Ni) cover that appears to be 5‐10m thick.    This is common in a nickel‐cobalt laterite profile and occurs in some of the mineralised zones at the nearby Jacaré nickel‐ cobalt deposit of Anglo American. This cover does not occur in the Northern Target, where the mineralisation intersected to date starts at surface. ><0.5% Nil) cover that appears to be 5‐10m thick.    This is common in a nickel‐cobalt laterite profile and occurs in some of the mineralised zones at the nearby Jacaré nickel‐ cobalt deposit of Anglo American. This cover does not occur in the Northern Target, where the mineralisation intersected to date starts at surface.

The Company’s more powerful hand‐held auger was able to drill through this low‐grade cover and sample the top of the mineralised laterite zone, returning end‐of‐hole intersections of 3.0m @ 0.84% Ni and 0.12% Co and 2.0m @ 1.15% Ni and 0.05% Co.

Five of the first seven auger holes drilled into the Southern Target were just able to reach high‐grade nickel‐cobalt mineralisation before drill refusal and the assay results received from the top of the mineralised zone are very encouraging.  The Company now plans to test this area using Reverse Circulation (RC) drilling as soon as RC drill testing of the Northern Target is complete.

Importantly, the Southern Target – with a 2.0km strike length and widths up to 400m – has the potential to add a significant volume of mineralisation to the Project. At the Northern Target, auger drilling has already delineated high‐grade nickel and cobalt mineralisation over a strike length of 3.3km and widths of up to 500m.


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