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Centaurus now has two nickel projects in Brazil’s Carajãs mineral province

Centaurus first ap- “For us it’s a much better fit because Sa- ing hopefully by the end of October, that
proached Vale about lobo West was going to cost significant dol- programme will pretty much run through for
doing a deal over Jag- lars to explore in a pretty tough environment, six months. I think we’ve got 16,000m of dia-
uar in September last whereas where we’re located now is in pas- mond drilling planned and another 25,000m
year, having moved into ture land, it’s already a mining lease applica- of RC drilling, which won’t start until after the
the Carajãs only a few tion and it’s got a wealth of data which gives wet season next year.
months prior via its ac- us a big head start on being able to go and “All the work we’re doing is targeted at
quisition of the Itapitan- look at it from a different angle. starting a PFS by Q4 next year, so we’ll be
ga nickel laterite project. “We would have liked to have kept both, pretty active on all work fronts.”
Vale had previously but in order to make the Jaguar deal happen, Work at Itapitanga is likely be scaled back
not revealed much about we needed to include Salobo West because now that Jaguar has emerged as the com-
Jaguar despite defining it gives Vale a complete backyard as far as pany’s flagship asset, although its JV part-
a resource of 40.4mt @ a tenement package in and around their Sa- ner, laterite experts Simulus Group, will con-
0.78% nickel containing lobo mine.” tinue to progress a scoping study.
315,000t from more than At the time of print, Centaurus was set- Gordon and his team will also look to ne-
55,000m of diamond ting up a base in the town of Tucumã, about gotiate offtake arrangements for the Jam-
drilling. 40km south of Jaguar, ahead of an upcom- breiro iron ore project in Brazil’s south-east,
Centaurus exploration manager Roger ing infill ground mag survey to identify the something he believes could be an unex-
Fitzhardinge was instrumental in first iden- project’s structural controls and get a handle pected side benefit of recently dealing with
tifying the opportunity and then getting the on the sulphides. Vale.
deal over the line. Centaurus is also reprocessing all of Vale’s “I’m hopeful that the fact we’ve been able
Gordon said while the company was ini- historical EM data, having been buoyed by to do something with Vale on the nickel will
tially reluctant to give up its highly prospec- initial results which confirmed large surface put us in a position where we can have a
tive Salobo West ground, the end result was and downhole EM conductors, including a sensible conversation with them around the
unquestionably the best arrangement for 600m plate, were coincident with a historical iron ore, whether that’s for access or whether
both Centaurus and Vale. intercept of 7.9m @ 5.9% nickel. that’s offtake, to try to open up that project,”
“We’ve really leveraged our Salobo West “We see EM being a highly effective tool to Gordon said.
greenfields copper-gold project into some- identify more massive sulphides in that pro- – Michael Washbourne
thing that is a lot more advanced in the nickel ject area,” Gordon said.
sulphide space,” he said. “We will then commence diamond drill-

Providing Capital Group

Global CELEBRATING 20 YEARS OF BUSINESS - 1999-2019

Mineral PCF Capital Group congratulates its clients on the completion of the following transactions:

Processing Project Divestment M&A Advisor
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Lithium Royalty Corp
Brisbane +61 7 3838 8000
Project Divestment Royalty Acquisition
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