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Centaurus Metals Ltd.
Summary
| Project: | Mombuca | |
|---|---|---|
| Deposit: | ITZ | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 9/14/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-9-2016: Centaurus Metals Ltd. announces an Exploration/Drilling Update report for its ITZ deposit at the Mombuca project. Drilling results incl. 2.0m @ 0.42g/t Au from 1.0m. Centaurus Metals (ASX Code: CTM) provides the following update on the ongoing | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Roger Fitzhardinge (Internal) | |
| ABSTRACT: | Centaurus Metals (ASX Code: CTM) provides the following update on the ongoing diamond drilling program at its 100%‐owned Mombuca Gold Project in south‐east Brazil. The program commenced in late July and following some delays due to mechanical breakdowns and challenging ground conditions steady progress has since been achieved. The first phase of the program was designed to test for mineralisation at the ITZ Prospect (Figure 1), a 1.5km long gold‐in‐soils geochemical anomaly hosting gold‐bearing quartz veins set amongst artisanal workings where multiple IP anomalies were identified. To date, four drill holes have been completed at the ITZ Prospect. Initial gold and multi‐element assay results have been received for the first three holes, MBC‐DD‐16‐001 to MBC‐DD‐16‐003 (see Table 1). The assays included a shallow intercept of low‐grade gold mineralisation in MBC‐DD‐16‐002 with no significant assays returned from the other two holes. Logging of the drill core indicates that all of the holes drilled to date have intersected multiple intervals of silica, sericite and chlorite alteration associated with boxworks from sulphides or iron oxides. These zones are often strongly fractured and brecciated with strong signs of fluid movement and oxidisation along the zone. Stacked quartz veins of up to 20cm occur locally throughout the intervals occasionally with disseminated sulphides associated. This provides evidence of the presence of a hydrothermal mineralising system, even though no significant gold mineralisation was identified in the first three holes. | |
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