Centaurus Metals Strikes High-Grade Copper-Gold at Boi Novo Project
Centaurus Metals (ASX: CTM) has reported significant new high-grade Centaurus Metals copper-gold discovery at its 100%-owned Boi Novo Project in Brazil's mineral-rich Carajás Province, substantially expanding the project's potential scale and economic value.
New Shallow Copper-Gold Zone Discovered at Nelore East
The company has identified a new shallow copper-gold mineralised zone at the Nelore East Prospect, where drilling targeted a 500-metre long east-west trending copper-in-soil anomaly coincident with electromagnetic conductor plates.
Standout results from this new discovery include:
- 11.5m at 2.84% Cu and 0.90g/t Au from 91.9m
- 6.8m at 1.89% Cu and 1.08g/t Au from 107.6m
- 10.2m at 0.68% Cu and 0.10g/t Au from 29.3m
These impressive intercepts are particularly significant as the mineralisation remains open at depth and along strike, with down-hole electromagnetic surveys identifying off-hole conductor plates suggesting further mineralisation beyond current drilling.
"These exciting new results confirm the potential of the Nelore corridor to host high-grade copper-gold mineralisation. The identification of a new mineralisation style at Nelore East creates exciting growth opportunities and indicates there is plenty more copper to find at Boi Novo," said Managing Director Darren Gordon.
Expanding Mineralisation at Nelore West
Drilling at the Nelore West Prospect has demonstrated continuity between previously identified high-grade breccia pipes, with recent results confirming broad zones of copper mineralisation:
- 43.4m at 0.32% Cu and 0.07g/t Au from 77.6m
- 14.1m at 0.34% Cu and 0.11g/t Au from 71.8m
- 15.8m at 0.40% Cu and 0.08g/t Au from 91.2m
The mineralisation at Nelore West follows a 500-metre long structure immediately south of the mafic volcanic and Banded Iron Formation sequence, with two primary breccia pipes identified in drilling to date.
Understanding IOCG Deposits: What Investors Should Know
The Centaurus Metals copper-gold discovery at Boi Novo belongs to the IOCG (Iron Oxide Copper-Gold) deposit type, which represents some of the world's most valuable mineral systems. These deposits are particularly significant in the Carajás region, where they typically occur within brittle-ductile shear zones hosted in volcanic and sedimentary rocks.
Key Investment Considerations for IOCG Deposits:
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Size and Grade Potential: IOCG deposits often contain substantial resources with favourable grades that can support long-life mining operations.
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Multi-Commodity Value: The copper-gold combination provides natural economic hedging against commodity price fluctuations, enhancing project economics.
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Amenability to Modern Exploration: IOCG deposits typically have strong magnetic signatures, making them detectable with advanced geophysical techniques, which enhances exploration efficiency.
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Processing Advantages: The mineralogy of IOCG deposits typically allows for conventional processing methods, often resulting in lower processing costs compared to more complex ore types.
The chalcopyrite-dominant mineralisation found at Nelore East appears to have a favourable copper-gold relationship similar to other IOCG deposits in the Carajás region, suggesting potential for economic extraction through standard processing methods.
Iron Ore Bonus: Significant Additional Value
While focused on copper-gold exploration, Centaurus has also encountered substantial iron ore mineralisation across the property. Recent intercepts include:
- 36.1m at 32.48% Fe from 107.8m
- 25.7m at 27.41% Fe from 82.1m
- 16.0m at 28.79% Fe from 121.0m
The company has established an Exploration Target of 520-780Mt grading 30-35% Fe across four prospects (Bufalo, Guzera, Nelore and Zebu). While this target remains conceptual in nature, it represents significant potential additional value for the project.
Strategic Location Enhances Development Potential
The Boi Novo Project enjoys exceptional infrastructure advantages that could significantly reduce development costs and timeline:
- Located just 35km from Vale's copper-gold concentrate load-out facility at Parauapebas
- Less than 20km from BHP's Antas Norte copper flotation plant
- Only 30km from Parauapebas (population 270,000), the regional centre of the Carajás
These proximity advantages could potentially allow for fast-track development options including toll processing arrangements, substantially reducing capital requirements for any future mining operation.
Next Steps and Upcoming Catalysts
Centaurus has paused drilling at Boi Novo to allow the geology team to integrate all datasets and prepare an initial geological interpretation of the project. This work will guide optimisation of the next phase of drilling, focusing on:
- Testing high-priority targets at depth below the granitic dyke at Nelore West
- Exploring extensions of the new mineralisation found in the high-grade hole BON-DD-25-040 at Nelore East
- Preliminary metallurgical sampling for copper sulphide mineralisation
Meanwhile, field exploration continues with active electromagnetic surveys and geological mapping across copper-in-soil anomalies at the Bufalo, Zebu, Nelore, and Presley Prospects, expected to generate new drill targets in the coming months.
Why Investors Should Watch Centaurus Metals
The Centaurus Metals copper-gold discovery presents a compelling investment case based on multiple growth drivers:
- Expanding Discovery Footprint: New high-grade copper-gold zones with significant expansion potential in multiple directions
- Dual-Commodity Potential: Valuable copper-gold mineralisation plus substantial iron ore potential providing diversified commodity exposure
- Strategic Location: Proximity to existing processing facilities could fast-track development and reduce capital requirements
- Systematic Exploration Approach: Effective use of geophysics and geochemistry driving discovery success
- Experienced Team: Proven track record in the Carajás region with demonstrated exploration expertise
With ongoing geophysical surveys and geological mapping expected to generate additional targets, Centaurus is well-positioned to continue expanding the scale and value of the Boi Novo Project, representing a significant opportunity for investors seeking exposure to copper-gold discovery potential in a world-class mineral province.
The Centaurus Metals copper-gold discovery adds to the company's growing portfolio of assets in Brazil, with the Boi Novo Project complementing its flagship Jaguar Nickel Project, further enhancing the company's exposure to critical and precious metals.
Furthermore, this discovery follows a trend of significant gold-copper opportunities being secured by ASX-listed companies in recent months. In addition, the exploration success at Boi Novo demonstrates how systematic exploration can yield substantial results, similar to recent high-grade gold hits reported by other companies.
The company's methodical approach to exploration is reminiscent of other successful campaigns where drilling approval for untested anomalies has led to significant discoveries, highlighting the importance of thorough preparatory work before commencing drill programs.
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